First Capital, Inc. (FCAP) has reported an 1.83 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $1.55 million, or $0.46 a share in the quarter, compared with $1.58 million, or $0.47 a share for the same period last year.      

Revenue during the quarter went up marginally by 1.22 percent to $7.23 million from $7.14 million in the previous year period. Net interest income for the quarter rose 2.36 percent over the prior year period to $5.98 million. Non-interest income for the quarter rose 6.21 percent over the last year period to $1.45 million.

First Capital has made provision of $0.21 million for loan losses during the quarter, up 181.33 percent from $0.08 million in the same period last year.

Net interest margin contracted 8 basis points to 3.50 percent in the quarter from 3.58 percent in the last year period.

Loans outpace deposit growth
Net loans stood at $385.08 million as on Mar. 31, 2017, up 7.73 percent compared with $357.44 million on Mar. 31, 2016. Deposits stood at $681.66 million as on Mar. 31, 2017, up 3.88 percent compared with $656.18 million on Mar. 31, 2016.

Investments stood at $272.19 million as on Mar. 31, 2017, up 29.20 percent or $61.52 million from year-ago. Shareholders equity stood at $77.07 million as on Mar. 31, 2017, up 1.31 percent or $1 million from year-ago.

Return on average assets moved down 5 basis points to 0.83 percent in the quarter from 0.88 percent in the last year period. At the same time, return on average equity decreased 24 basis points to 8.13 percent in the quarter from 8.37 percent in the last year period.