8-K

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                                  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 19, 2008
                                                          ---------------


                               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))

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Item 8.01       Other Events.
                ------------

         On August 19, 2008, First Capital, Inc. (the "Corporation"), the
holding company for First Harrison Bank, issued a press release announcing that
the Corporation's Board of Directors has authorized the repurchase up to 240,467
shares of the Corporation's outstanding common stock. The press release is
included as Exhibit 99.1 hereto and is 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              Press Release Dated August 19, 2008


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                                   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 19, 2008              By: /s/ William W. Harrod
                                           -------------------------------------
                                           William W. Harrod
                                           President and Chief Executive Officer

EX-99.1

                                                                    EXHIBIT 99.1

PRESS RELEASE


          FIRST CAPITAL, INC. ANNOUNCES STOCK REPURCHASE AUTHORIZATION


CORYDON, Ind., Aug. 19, 2008 (GLOBE NEWSWIRE) -- First Capital, Inc.
(NasdaqCM:FCAP - News) today announced that the Corporation's Board of Directors
has authorized the repurchase up to 240,467 shares of the Corporation's
outstanding common stock, or approximately 8.6% of outstanding shares. That
number of shares includes the 16,467 shares that remain for repurchase under the
Corporation's previous repurchase program authorized in September 2002.

The current repurchase authorization will remain in effect until all shares have
been repurchased or until the Corporation terminates the authorization earlier.
Subject to market conditions, the availability of stock and other factors, the
repurchases will generally be conducted through open market transactions,
although the Company may repurchase shares through unsolicited privately
negotiated transactions.

First Capital, Inc. is the holding company for First Harrison Bank. First
Harrison Bank currently has twelve offices in the Indiana communities of
Corydon, Edwardsville, Greenville, Floyds Knobs, Hardinsburg, Palmyra, New
Albany, New Salisbury, Jeffersonville and Salem. The Bank also has received
regulatory approval to relocate its Edwardsville office within that town.
Construction began on the new office in the first quarter of 2008 and it is
expected to open in the third quarter of this year. Access to First Harrison
Bank accounts, including online banking and electronic bill payments, is
available anywhere with Internet access through the Bank's website at
http://www.firstharrison.com. First Harrison Financial Services, a division of
the Bank, offers non-FDIC insured investments to compliment the Bank's offering
of traditional banking products and services.


Contact:
          First Capital, Inc.
          Chris Frederick, Chief Financial Officer
          (812) 734-3464