FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * UHL GERALD L   2. Issuer Name and Ticker or Trading Symbol FIRST CAPITAL INC [(FCAP)] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 220 FEDERAL DRIVE 3. Date of Earliest Transaction (Month/Day/Year) 10/30/2006 (Street) CORYDON, IN 47115 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 10/30/2006   P   20 A $ 18.5 19,066.08 (1) (2) (3) I By IRA Common Stock 10/30/2006   P   120 A $ 18.5 4,470.083 (1) I By Spouse IRA Common Stock 10/31/2006   P   100 A $ 18.5 4,570.083 (1) (2) I By Spouse IRA Common Stock               1,807.5347 (1) (2) D   Common Stock               12,887 (1) I By Spouse Common Stock               447.108 (1) I By Spouse ESOP

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Incentive Stock Option (right-to-buy)

$ 20.91 (4)

06/21/2004(5)

06/21/2004

Common Stock

825

825 (4)

I

By Spouse

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
UHL GERALD L 220 FEDERAL DRIVE CORYDON, IN 47115	X

Signatures

By: Victor L. Cangelosi, Power of Attorney		11/01/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	This form reflects an increase in beneficial ownership due to a 10% dividend issued by First Capital, Inc. on August 8, 2006.
(2)	This form reflects an increase in beneficial ownership resulting from dividend reinvestment pursuant to Rule 16a-11.
(3)	Due to adminstrative error this form reflects a decrease in beneficial ownership from prior reports.
(4)	This option was previously reported as covering 750 shares at an exercise price of $23.00, but was adjusted to reflect the 10% dividend issued on August 8, 2006.
(5)	Incentive Stock Option granted pursuant to the First Capital, Inc. 1999 Stock-Based Incentive Plan vest in five annual installments commencing on June 21, 2005.

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