Net Income of $8.2 million, or $0.59 per share Net Income, as adjusted to exclude the impact of merger-related expenses (non-GAAP)(1), of $8.3 million, or $0.59 per share Net Interest Income increased $2.1 million, or 5.9%, from 1Q 2024 Net Interest Margin ("NIM") increased to 6.46% as compared to 6.24% (1Q 2024) Core NIM, as adjusted to exclude the impact of credit card loans (non-GAAP)(1) increased to 4.00% as compared to 3.85% (1Q 2024) Loan Growth of $57.1 million, or 11.7% annualized for 2Q 2024 Deposi ...

Second Quarter 2024 Results ◦ Net Income, as adjusted to exclude the impact of merger-related expenses (non-GAAP) , of $8.3 million, or $0.59 per share (1) • Net Interest Margin ("NIM") increased to 6.46% as compared to 6.24% (1Q 2024) • Loan Growth of $57.1 million, or 11.7% annualized for 2Q 2024 • Cash dividend of $0.10 per share declared, or 25% higher than the prior quarter The Company also declared a cash dividend on its common stock of $0.10 per share. The dividend is payable on August 21, 2024 to sh ...

ROCKVILLE, Md., July 12, 2024 (GLOBE NEWSWIRE) -- Capital Bank is pleased to announce the appointment of Dominic C. Canuso, CFA, as the new Chief Financial Officer (CFO) for Capital Bancorp, Inc. and Capital Bank, N.A. A seasoned public company executive with a robust background in finance and operations, Mr. Canuso will officially join the organization on July 15, 2024, reporting directly to CEO Ed Barry. Ed Barry, CEO of Capital Bank, commented on the appointment, stating, "We are thrilled to welcome Domi ...

"We want to ensure that our customers have access to the best banking services available," added Barry. "With our new, state-of-the-art branch, we are poised to deliver on that promise and continue our tradition of excellence in customer service." We encourage our customers to visit the new branch, meet our staff and experience the enhanced amenities it has to offer. About Capital Bank, N.A.: Operating for over 25 years in the DC Metro Region, Capital Bank has carved a reliable niche in the financial landsc ...

ROCKVILLE, Md., May 21, 2024 (GLOBE NEWSWIRE) -- Capital Bank, N.A., a leading provider of financial services in the greater Washington, D.C. metropolitan area, is thrilled to announce the relocation and expansion of its Reston branch to better serve the needs of its valued customers and the dynamic local business community. The brand-new branch is located at 1900 Campus Commons Dr, Suite 130, Reston, VA 20191, replacing the former location at 10700 Parkridge Blvd # 180, Reston, VA and opened its doors on M ...

A special mention loan has potential weaknesses deserving of management's attention. If uncorrected, such weaknesses may, at a future date, impair the repayment prospects for the asset or our credit position. Loans that are deemed special mention, substandard, doubtful or loss are listed in the Bank's Problem Loan Status Report. The Problem Loan Status Report provides a detailed summary of the borrower and guarantor status, loan accrual status, collateral evaluation and includes a description of the planned ...

ROCKVILLE, Md., May 07, 2024 (GLOBE NEWSWIRE) -- Capital Bank (NASDAQ:CBNK), a prominent financial institution serving the DC Metro area, is proud to announce the appointment of Jim Witty as Senior Vice President - Director of Contractor Banking. With a commercial banking career spanning over 30 years, many spent in leadership roles, Jim has a strong track record of helping businesses grow, driving strategic objectives, and fostering long-lasting relationships with his clients. "We are excited to welcome Ji ...

ROCKVILLE, Md., May 01, 2024 (GLOBE NEWSWIRE) -- Capital Bank (NASDAQ:CBNK) is pleased to announce the appointment of Todd Warren as Senior Vice President and Market Executive for the Greater Chesapeake and Baltimore regions. With over 26 years in banking, Mr. Warren brings invaluable expertise and insights to the bank. Mr. Warren will play a key role in Capital Bank's C&I growth strategy by leading two C&I teams in Baltimore and Columbia, MD. "Todd's extensive industry knowledge and deep community connecti ...

Capital Bancorp (CBNK) came out with quarterly earnings of $0.51 per share, missing the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $0.68 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -1.92%. A quarter ago, it was expected that this company would post earnings of $0.62 per share when it actually produced earnings of $0.65, delivering a surprise of 4.84%.Over the last four quarters, the company h ...

Financial Performance - Net income for Q1 2024 was $6.6 million, or $0.47 per diluted share, a decrease from $9.0 million, or $0.65 per diluted share in Q4 2023[20]. - Net income for the three months ended March 31, 2024, was $6.6 million, down from $9.0 million in the previous quarter[50]. - Net income for March 31, 2024, was $6,562,000, a decrease of 27.3% from $9,030,000 in December 31, 2023[112]. - Adjusted net income for March 31, 2024, was $7,100,000, compared to $9,030,000 in the previous quarter, reflecting a decline of 21.4%[112]. - Earnings per share (diluted) for Q1 2024 was $0.47, down 27.7% from $0.65 in Q4 2023[72]. - The return on average assets was 1.15%, down from 1.84% in the previous year, indicating a decline in profitability[105]. - Return on average assets (ROAA) for March 31, 2024, was 1.15%, down from 1.63% in the previous quarter, indicating a decline of 29.4%[112]. - Total revenue for March 31, 2024, was $40,980,000, slightly up from $40,825,000 in December 31, 2023, reflecting an increase of 0.4%[112]. Asset and Loan Growth - Total assets increased to $2.3 billion at March 31, 2024, up $98.1 million, or 4.4%, from December 31, 2023[31]. - Total portfolio loans reached $2.0 billion, an increase of $61.2 million, representing 12.9% annualized growth from December 31, 2023[23]. - Portfolio loans receivable increased to $1,970,657 thousand from $1,910,930 thousand at December 31, 2023[1]. - Average portfolio loans increased to $1.93 billion for the quarter ended March 31, 2024, compared to $1.86 billion for the previous quarter[119]. - Total portfolio loans reached $1.96 billion as of March 31, 2024, an increase from $1.90 billion at December 31, 2023[119]. Deposits and Funding - Deposits totaled $2.0 billion, up $109.7 million, or 5.8%, from December 31, 2023[14]. - Total deposits reached $2,005.7 million, up 3.2% from $1,895.996 million in the previous quarter[81]. - Noninterest-bearing deposits increased by $48.4 million, or 7.8%, to $665.8 million compared to December 31, 2023[63]. - Average borrowed funds increased by $17.1 million, or 41.0%, compared to December 31, 2023[11]. - Uninsured deposits were approximately $855.7 million, representing 42.7% of the Company's deposit portfolio as of March 31, 2024, up from 41.6% at December 31, 2023[49]. Income and Expenses - Noninterest income for Q1 2024 was $6.0 million, a slight increase from $5.9 million in Q4 2023[20]. - Noninterest income decreased by $0.1 million, or 0.9%, to $6.0 million compared to the same period in 2023, with mortgage banking revenue increasing by $0.3 million[46]. - Noninterest expense increased by $3.3 million, or 12.5%, to $29.5 million compared to the same period in 2023, driven by higher advertising and merger-related expenses[47]. - Noninterest income totaled $5,972 thousand, with noninterest expenses at $29,487 thousand[84]. Credit Quality - The provision for credit losses was $2.7 million, a decrease of $0.1 million from Q4 2023[29]. - The provision for credit losses increased to $2.7 million, up $1.1 million from the same period in 2023, primarily due to loan growth[75]. - Nonperforming assets decreased to 0.62% of total assets, down 10 basis points from 0.72% at December 31, 2023, with nonaccrual loans decreasing to $14.4 million[38]. - Nonperforming assets to total assets ratio improved to 0.62% from 0.73% year-over-year, indicating better asset quality[105]. - Net charge-offs for the three months ended March 31, 2024, were $2.0 million, or 0.41% on an annualized basis of average portfolio loans[75]. - Net charge-offs totaled $1.99 million for the quarter ended March 31, 2024, compared to $2.48 million for the previous quarter[119]. Capital and Efficiency - The common equity tier 1 capital ratio was reported at 14.92% as of March 31, 2024, down from 15.43% at December 31, 2023[65]. - Total stockholders' equity rose to $259.5 million as of March 31, 2024, compared to $254.9 million at December 31, 2023[99]. - The efficiency ratio for Q1 2024 was 71.95%, compared to 64.72% for Q1 2023[6]. - The efficiency ratio for March 31, 2024, was 71.95%, up from 65.91% in the previous quarter, indicating a decline in operational efficiency[112]. - The net interest margin decreased to 6.24% for Q1 2024, compared to 6.40% for Q4 2023[62]. - The net interest margin for the quarter was 6.24%, down from 6.65% in the previous year[105]. Company Overview - The company announced the acquisition of Integrated Financial Holdings, Inc. to diversify its business and enhance capabilities[1]. - The company operates bank branches in four locations in the greater Washington, D.C. and Baltimore markets[121]. - Capital Bancorp has been providing financial services since 1999[121]. - The company’s common stock is traded on the NASDAQ Global Market under the symbol "CBNK"[121].