FCAP: Agrees to acquire First Bancorp of Indiana in stock deal worth $33.2M
FCAP agrees to merge with First Bancorp of Indiana in stock deal worth about $33.2M at $63.05 per FCAP share; closing pending approvals.
What this filing says
First Capital agreed to merge with First Bancorp of Indiana, with First Bancorp shareholders receiving First Capital common stock at a fixed exchange ratio. The total merger consideration is estimated at $33.2 million based on First Capital's stock price as of November 4, 2026, and that amount will change with the share price. The deal is subject to First Bancorp shareholder approval, regulatory and listing conditions, and is not yet complete.
Key figures
- Estimated total merger consideration
- $33.2 million
- First Capital share price used
- $63.05 per share
- Agreement date
- November 4, 2026
Positive for shareholders
- The merger is structured so First Bancorp shareholders receive First Capital stock, which the release describes as intended to qualify as a tax-free reorganization for the transaction's counterparties.
Negative for shareholders
- First Capital will issue new shares to complete the merger, which would dilute existing holders.
- Completion depends on First Bancorp shareholder approval and other conditions, so the deal may not close.
- If First Bancorp terminates to accept a superior proposal, or its board changes its recommendation, it may owe a termination fee.
Written by Quantisnow AI from this filing. Not financial advice.
Key terms
- Exchange Ratio:
- The fixed number of First Capital shares each First Bancorp share is converted into in the merger.
- Superior Proposal:
- A competing acquisition offer that the target company's board judges to be better for shareholders than the current deal.
- Book-entry form:
- Shares recorded electronically in the owner's account rather than issued as paper stock certificates.
FAQ
What will First Bancorp shareholders receive from First Capital?
Each First Bancorp common share will be converted into shares of First Capital common stock at a fixed exchange ratio, with cash paid instead of any fractional shares.
What conditions must be met before the First Capital and First Bancorp merger closes?
The release lists conditions including approval by First Bancorp shareholders, the required stock issuance approvals, and Nasdaq listing authorization for the new shares, plus a tax opinion.
Will First Bancorp's bank be merged into First Capital's bank?
Yes, First Federal Savings Bank will merge into First Harrison Bank, with First Harrison Bank as the surviving bank.
Historical context for FCAP
Across the 9 sessions after earlier FCAP headlines, the stock closed higher 5 times and lower 4 times, with a median move of 2.0% in either direction. This shows timing only: many things move a stock in a session, and these figures do not show that any headline caused a move.
| Session | Earlier headline | FCAP | SPY |
|---|---|---|---|
| Oct 26, 2026 | First Capital, Inc. Reports Quarterly Earnings | +1.7% | +0.7% |
| Aug 20, 2026 | First Capital, Inc. Announces Quarterly Dividend | -0.1% | -0.8% |
| Jul 27, 2026 | First Capital, Inc. Reports Quarterly Earnings | +4.1% | +0.0% |
| May 20, 2026 | First Capital, Inc. Announces Quarterly Dividend | -0.5% | +1.0% |
| Apr 27, 2026 | First Capital, Inc. Reports Quarterly Earnings | -0.4% | +0.2% |
| Feb 20, 2026 | First Capital, Inc. Announces Date of Annual Meetingand 1 other headline that session | +2.3% | +0.7% |
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