Capital Bancorp Appoints New Board Member

Rhea-AI Summary

Capital Bancorp, Inc. (NASDAQ: CBNK) announced the appointment of Joseph (Jody) A. Greene to its Board of Directors effective January 1, 2021. Greene, who has been with Capital Bank since 2009, holds extensive real estate and financing experience, serving as President and CEO of Greene & Associates. Following this change, the Board consists of 11 members, 9 of whom are independent, owning approximately 41% of Bancorp's shares. Chairman Steven J. Schwartz praised Greene's contributions to the bank's growth, particularly in the Washington, D.C. area.

Positive

• Appointment of Joseph A. Greene could bring fresh perspectives to the Board.
• Greene's extensive experience in real estate may benefit Bancorp's strategic initiatives.

Negative

• Potential concerns regarding continuity and experience gaps in the Board's leadership.

ROCKVILLE, Md., Jan. 25, 2021 (GLOBE NEWSWIRE) -- Capital Bancorp, Inc., (NASDAQ: CBNK) (“Bancorp”) the holding company of Capital Bank, N.A., today announced the appointment of Joseph (Jody) A. Greene to its Board of Directors effective January 1, 2021. Following his appointment, the Board’s 11 members, 9 of whom are independent, own approximately 41% of the outstanding shares of Bancorp.

Joseph A. Greene has been a member of the Capital Bank Board since 2009 and has extensive experience in real estate, commerce and financing. He is President and CEO of Greene & Associates which is based in the Washington, DC area. His company invests in, develops and renovates commercial, corporate and residential properties in D.C., New York, South Carolina and Georgia.

Steven J. Schwartz, Chairman of Bancorp said, “Having worked with Jody for over 10 years, I have come to appreciate his professionalism, intellect and expertise and look forward to his skill set continuing to make a significant contribution to the future success and growth of Bancorp. Jody’s success as a businessman has been substantially achieved within the Washington, DC area, a community Bancorp serves.”

Adds Greene, “I’ve seen Capital Bank grow and I’m excited to continue to help drive its future growth and furthering our reach in the community.”

ABOUT CAPITAL BANCORP, INC.
Capital Bancorp, Inc., Rockville, Maryland is a registered bank holding company incorporated under the laws of Maryland. The Company’s wholly-owned subsidiary, Capital Bank, N.A., is the fifth largest bank headquartered in Maryland at September 30, 2020. Capital Bancorp has been providing financial services since 1999 and now operates bank branches in five locations in the greater Washington, D.C. and Baltimore, Maryland markets. Capital Bancorp had assets of approximately $1.9 billion at December 31, 2020 and its common stock is traded in the NASDAQ Global Market under the symbol “CBNK.” More information can be found at the Company’s website www.CapitalBankMD.com under its investor relations page.

FINANCIAL CONTACT: Alan Jackson (240) 283-0402
MEDIA CONTACT: Ed Barry (240) 283-1912
WEB SITE: www.CapitalBankMD.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b8bb17be-a4b4-4e72-8750-04f29e250230

FAQ

What is the significance of Joseph A. Greene's appointment to Capital Bancorp's Board?

Joseph A. Greene's appointment is significant as he brings over a decade of experience with Capital Bank and expertise in real estate, which could enhance the Board's strategic direction and community engagement.

When did Joseph A. Greene join the Board of Directors of Capital Bancorp?

Joseph A. Greene joined the Board of Directors of Capital Bancorp effective January 1, 2021.

How many members are on Capital Bancorp's Board of Directors?

Capital Bancorp's Board of Directors comprises 11 members, with 9 being independent.

What percentage of shares do the Board members own in Capital Bancorp?

The Board members own approximately 41% of the outstanding shares of Capital Bancorp.