First Capital Q2 profit rises on higher interest income

The company did not provide specific guidance or outlook for future periods in the press release.

The company said increased average yield and higher balances of interest-earning assets drove interest income growth.

Noninterest income rose mainly due to gains on equity securities and higher service charges on deposit accounts.

First Capital also reported higher noninterest expenses, driven by increased compensation and benefits, advertising, and general inflationary pressures.

First Capital's second-quarter net income and earnings per share rose year over year, helped by higher interest income. Net interest income after provision for credit losses increased from the prior year, while noninterest income also rose.