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<SEC-DOCUMENT>0000909654-07-002033.txt : 20070824
<SEC-HEADER>0000909654-07-002033.hdr.sgml : 20070824
<ACCEPTANCE-DATETIME>20070824134936
ACCESSION NUMBER:		0000909654-07-002033
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070823
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070824
DATE AS OF CHANGE:		20070824

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST CAPITAL INC
		CENTRAL INDEX KEY:			0001070296
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		IRS NUMBER:				352056949
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25023
		FILM NUMBER:		071077869

	BUSINESS ADDRESS:	
		STREET 1:		220 FEDERAL DRIVE N W
		CITY:			CORYDON
		STATE:			IN
		ZIP:			47112
		BUSINESS PHONE:		8127382198

	MAIL ADDRESS:	
		STREET 1:		220 FEDERAL DRIVE N W
		CITY:			CORYDON
		STATE:			IN
		ZIP:			47112
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>firstcapital8kaug23-07.txt
<TEXT>
<PAGE>


                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K
                                 CURRENT REPORT

                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

        Date of Report (Date of earliest event reported) August 23, 2007
                                                         ---------------

                               FIRST CAPITAL, INC.
                               -------------------
             (Exact name of registrant as specified in its charter)

            Indiana                      0-25023               35-2056949
            -------                      ---------             ----------
(State or other jurisdiction of        (Commission            (IRS Employer
         incorporation)                 File Number)         Identification No.)

      220 Federal Drive N.W., Corydon, Indiana               47112
      ----------------------------------------              ------
      (Address of principal executive offices)            (Zip Code)

      Registrant's telephone number, including area code: (812) 738-2198
                                                          --------------

                                 Not Applicable
                                 --------------
          (Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[ ]  Written communications pursuant to Rule 425 under the Securities Act
     (17 CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
     (17 CFR 240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))



<PAGE>


ITEM 7.01     REGULATION FD DISCLOSURE.
              ------------------------

         On August 23, 2007, First Capital, Inc., the holding company for First
Harrison Bank, mailed to its shareholders a quarterly report for the quarter
ended June 30, 2007. The quarterly report to shareholders for the quarter ended
June 30, 2007 is included as Exhibit 99.1 and incorporated herein by reference.

ITEM 9.01     FINANCIAL STATEMENTS AND EXHIBITS.
              ---------------------------------

       (a)    Financial Statements of Businesses Acquired: Not applicable

       (b)    Pro Forma Financial Information:  Not applicable

       (c)    Shell Company Transactions:  Not applicable

       (d)    Exhibits

              Number            Description
              ------            -----------

              99.1              Quarterly Report to Shareholders



<PAGE>



                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                       FIRST CAPITAL, INC.


Dated: August 23, 2007                 By: /s/ William W. Harrod
                                           -------------------------------------
                                           William W. Harrod
                                           President and Chief Executive Officer


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>firstcapital8kaug07ex99.txt
<TEXT>
<PAGE>


                        [First Capital, Inc. Letterhead]




                             REPORT TO SHAREHOLDERS


First Capital, Inc.


Dear Shareholders:

Our Salem office is under construction and plans are to be ready to open prior
to year end. We have an excellent staff selected for this office and anticipate
excellent growth in the market.

Net income for the second quarter is down due to slower than expected income
growth in mortgage loan sales and continued pressure on our margin. All
indications are that the flat yield curve environment will be with us for the
near term. Our mortgage loans sales should exceed last year, but are still under
what we expected.

We still rank as one of the top performing thrift companies in the state of
Indiana. This management team is committed to operating the company in a safe
and sound manner, which means making decisions for the long term. Loan demand
has remained soft and we have no plans to deviate from our lending policy in
order to take additional risk and grow loans. We continue to aggressively
compete for customers that make sense for our bank and risk profile.

The company has been authorized to repurchase shares from shareholders. We still
have 56,518 shares left to repurchase. If you would like to sell your shares
back to the company, please contact us at 812-738-2198.

I would encourage you to consider enrolling in the dividend reinvestment
program. You can print a copy of the plan and enrollment form by going to
http://www.rtco.com/inv/drp.asp. Type in First Capital and select your company
from the list.

Sincerely;

/s/ William Harrod

William Harrod
President and CEO

<PAGE>

                              SECOND QUARTER REPORT


                         SIX MONTHS ENDED JUNE 30, 2007



                              SECOND QUARTER REPORT


First Capital, Inc.


CORPORATE ADDRESS
First Capital, Inc.
220 Federal Drive, NW
Corydon, Indiana 47112

COMMON SHARES
The common shares of the Company are listed on The Nasdaq Stock Market(R). The
trading symbol is FCAP. In newspaper listings, Company shares are frequently
listed as First Capital, Inc.

TRANSFER AGENT
Investor Relations Department
Registrar and Transfer Company
10 Commerce Drive
Cranford, New Jersey 07016-9982
Tel: (800) 368-5948
www.rtco.com

MARKET MAKERS
Sweeney Cartwright
Keefe, Bruyette & Woods, Inc.
UBS Financial Services


<PAGE>
<TABLE>
<CAPTION>

BALANCE SHEET HIGHLIGHTS                                                         As of June 30,              Percent
(Dollars in thousands, except per share information)                        2007              2006           Change
- --------------------------------------------------------------------------------------------------------------------------
<S>                                                                      <C>               <C>               <C>
Total loans (excluding loans held for sale)                              $334,408          $337,525          -0.92%
Allowance for loan losses                                                   2,333             2,289           1.92%
Allowance for loan losses as a percentage
  of total loans (excluding loans held for sale)                             0.70%             0.68%          2.87%
Total assets                                                             $445,346          $447,949          -0.58%
Total deposits                                                            322,852           322,250           0.19%
Other borrowings                                                           75,056            80,395          -6.64%
Shareholders' equity                                                       44,250            42,523           4.06%
Book value per share                                                        15.64             14.94           4.66%
Non-performing Assets:
  Nonaccrual loans                                                          3,881             1,893          105.02%
  Foreclosed real estate                                                      429               677          -36.63%

                                                                                                               Six
                                                    Three Months                  Six Months                 Months
INCOME STATEMENT SUMMARY                           Ended June 30,               Ended June 30,               Percent
(Dollars in thousands)                          2007          2006             2007         2006             Change
- --------------------------------------------------------------------------------------------------------------------------
Net interest income                           $3,349        $3,471            $6,668       $6,899            -3.35%
Provision for loan losses                         35           200               260          370           -29.73%
Noninterest income                               882           808             1,685        1,535             9.77%
Noninterest expense                            2,907         2,676             5,698        5,249             8.55%
Earnings before taxes                          1,289         1,403             2,395        2,815           -14.92%
Provision for income taxes                       420           467               777          945           -17.78%
Net income                                       869           936             1,618        1,870           -13.48%

                                                                                                               Six
                                                    Three Months                  Six Months                 Months
OTHER FINANCIAL DATA                               Ended June 30,               Ended June 30,               Percent
                                                2007         2006              2007         2006             Change
- --------------------------------------------------------------------------------------------------------------------------
Diluted earnings per share                     $0.31        $0.33             $0.57        $0.66             -13.64%
Cash dividends per share                        0.17         0.17              0.34         0.34               0.00%
Return on average assets (annualized)           0.78%        0.85%             0.72%        0.85%            -15.29%
Return on average equity (annualized)           7.79%        8.80%             7.28%        8.82%            -17.46%
Net interest margin                             3.32%        3.46%             3.28%        3.45%             -4.93%
Net overhead expense as a percentage
  of average assets (annualized)                2.62%        2.42%             2.55%        2.39%              6.69%
</TABLE>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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