First Capital,Inc. (NASDAQ:FCAP) Files An 8-K Other Events

ME Staff 8-k
-
0

First Capital,Inc. (NASDAQ:FCAP) Files An 8-K Other Events
Item 8.01. Other Events.

On September20, 2017, First Harrison Bank (the “Bank”), a wholly owned subsidiary of First Capital,Inc. (the “Company”), filed applications with the Indiana Department of Financial Institutions (“IDFI”) and the Federal Deposit Insurance Corporation (“FDIC”) to convert from a federal savings association into an Indiana chartered commercial bank (the “Conversion”). The Conversion is subject to the approval of both the IDFI and FDIC and if approved, the IDFI will become the Bank’s primary regulator and the FDIC will become the Bank’s primary federal regulator. The Conversion is not expected to affect the Bank’s clients in any way and will not affect FDIC deposit insurance on eligible accounts.

Additionally, in connection with the Conversion, the Company filed an application with the Federal Reserve Bank of St. Louis to change from a savings and loan holding company to a bank holding company if the Conversion is approved by the Bank’s regulators.


About First Capital,Inc. (NASDAQ:FCAP)

First Capital, Inc. (First Capital) is the savings and loan holding company of First Harrison Bank (the Bank). The Bank is a federally-chartered savings bank, which provides various banking services to individuals and business customers through a network of over 17 locations in Indiana and Kentucky. The Bank offers real estate mortgage loans. Its loan portfolio includes residential loans, construction loans, commercial real estate loans, commercial business loans and consumer loans. Its consumer loan portfolio consists of home equity and second mortgage loans, and automobile and truck loans. It originates mortgage loans for sale in the secondary market, and also sells non-deposit investment products through a financial services division. FHB Risk Mitigation Services, Inc. is the subsidiary of the Company that provides property and casualty insurance coverage to the Company, the Bank and the Bank’s subsidiaries, and reinsurance to over eight other third party insurance companies.