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