First Capital Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the year, the company's net interest income was $17,255,000 against $16,758,000 a year ago. Income before income taxes was $7,919,000 against $7,342,000 a year ago. Net income attributable to the company was $5,594,000 or $2.03 per basic and diluted share against $5,074,000 or $1.82 per basic and diluted share a year ago. Return on average assets (annualized) was 1.22% and return on average equity (annualized) was 10.09% compared to return on average assets (three months date annualized) was 1.11% and return on average equity (three months date annualized) was 9.56% a year ago period. The increase in earnings is primarily due to increases in net interest income after provision for loan losses and noninterest income which were partially offset by an increase in noninterest expenses.

For the quarter, the company's net income attributable to company was $1,255,000 or $0.46 per diluted share compared to $1,244,000 $0.45 per diluted share for the same period in 2013. Net interest income was $4,319,000 compared to $4,285,000 a year ago. Income before income taxes was $1,708,000 to $1,781,000 a year ago. Return on average assets (annualized) was 1.06% and return on average equity (annualized) was 8.82% compared to return on average assets (annualized) was 1.10% and return on average equity (annualized) was 9.32% a year ago period.

The provision for loan losses decreased from $725,000 for 2013 to $190,000 for 2014 primarily due to a decrease in net charge-offs from $539,000 during 2013 to $266,000 during 2014 and a decrease in net provisions for loan losses on impaired loans from $150,000 for 2013 to $32,000 for 2014.