First Capital in Indiana to Record Charge Tied to Retirement Program

First Capital (FCAP) in Corydon, Ind., will record a pretax charge of $650,000 for the third quarter tied to a voluntary early retirement program.

Thirteen employees of the $454 million-asset First Harrison Bank will retire with a combined 211 years of service, the company said in a Tuesday press release. First Capital said those departures should translate into lower expenses starting next month.

First Capital reported earlier this year that its second-quarter earnings rose about 10% from a year earlier, to $1 million. The bank has 13 branches in southern Indiana.