Capital Bancorp, Inc. Completes Operational Conversion of Integrated Financial Holdings, Inc.
Capital Bancorp (CBNK) has successfully completed the operational conversion of Integrated Financial Holdings (IFH) into its systems, following their merger from October 1, 2024. The conversion, executed between February 21st and 24th, 2025, integrates IFH customer accounts into CBNK's products and services.
Former IFH subsidiaries, West Town Bank & Trust has merged with Capital Bank, N.A., while Windsor Advantage became a CBNK subsidiary. IFH customers, including those from the North Riverside, IL branch, now have access to CBNK's full range of services, locations, digital banking, and ATM network.
CBNK plans to open a new branch in Raleigh, NC on March 3, 2025. The company has maintained communication with customers since October 2024 to ensure a smooth transition.
Capital Bancorp (CBNK) ha completato con successo la conversione operativa di Integrated Financial Holdings (IFH) nei propri sistemi, a seguito della loro fusione avvenuta il 1 ottobre 2024. La conversione, eseguita tra il 21 e il 24 febbraio 2025, integra i conti dei clienti di IFH nei prodotti e servizi di CBNK.
I precedenti sussidiari di IFH, West Town Bank & Trust, si sono fusi con Capital Bank, N.A., mentre Windsor Advantage è diventata una sussidiaria di CBNK. I clienti di IFH, compresi quelli della filiale di North Riverside, IL, ora hanno accesso all'intera gamma di servizi, sedi, banking digitale e rete di sportelli automatici di CBNK.
CBNK prevede di aprire una nuova filiale a Raleigh, NC, il 3 marzo 2025. L'azienda ha mantenuto la comunicazione con i clienti dal ottobre 2024 per garantire una transizione fluida.
Capital Bancorp (CBNK) ha completado con éxito la conversión operativa de Integrated Financial Holdings (IFH) en sus sistemas, tras su fusión del 1 de octubre de 2024. La conversión, llevada a cabo entre el 21 y el 24 de febrero de 2025, integra las cuentas de los clientes de IFH en los productos y servicios de CBNK.
Las antiguas subsidiarias de IFH, West Town Bank & Trust, se han fusionado con Capital Bank, N.A., mientras que Windsor Advantage se convirtió en una subsidiaria de CBNK. Los clientes de IFH, incluidos los de la sucursal de North Riverside, IL, ahora tienen acceso a la gama completa de servicios, ubicaciones, banca digital y red de cajeros automáticos de CBNK.
CBNK planea abrir una nueva sucursal en Raleigh, NC, el 3 de marzo de 2025. La empresa ha mantenido la comunicación con los clientes desde octubre de 2024 para asegurar una transición sin problemas.
Capital Bancorp (CBNK)는 2024년 10월 1일 합병 이후 Integrated Financial Holdings (IFH)의 운영 전환을 성공적으로 완료했습니다. 2025년 2월 21일부터 24일 사이에 실행된 이 전환은 IFH 고객 계좌를 CBNK의 제품 및 서비스에 통합합니다.
이전 IFH 자회사인 West Town Bank & Trust는 Capital Bank, N.A.와 합병되었고, Windsor Advantage는 CBNK의 자회사가 되었습니다. IFH 고객, 특히 North Riverside, IL 지점의 고객은 이제 CBNK의 전체 서비스, 지점, 디지털 뱅킹 및 ATM 네트워크에 접근할 수 있습니다.
CBNK는 2025년 3월 3일에 노스 캐롤라이나주 롤리(Raleigh)에 새로운 지점을 열 계획입니다. 이 회사는 2024년 10월 이후 고객과의 소통을 유지하여 원활한 전환을 보장하고 있습니다.
Capital Bancorp (CBNK) a réussi à achever la conversion opérationnelle de Integrated Financial Holdings (IFH) dans ses systèmes, suite à leur fusion du 1er octobre 2024. La conversion, réalisée entre le 21 et le 24 février 2025, intègre les comptes des clients d'IFH dans les produits et services de CBNK.
Les anciennes filiales d'IFH, West Town Bank & Trust, ont fusionné avec Capital Bank, N.A., tandis que Windsor Advantage est devenue une filiale de CBNK. Les clients d'IFH, y compris ceux de l'agence de North Riverside, IL, ont désormais accès à l'ensemble des services, des emplacements, de la banque numérique et du réseau de distributeurs automatiques de CBNK.
CBNK prévoit d'ouvrir une nouvelle agence à Raleigh, NC, le 3 mars 2025. L'entreprise a maintenu la communication avec les clients depuis octobre 2024 pour garantir une transition en douceur.
Capital Bancorp (CBNK) hat die operative Umstellung von Integrated Financial Holdings (IFH) erfolgreich abgeschlossen, nachdem die Fusion am 1. Oktober 2024 stattfand. Die Umstellung, die zwischen dem 21. und 24. Februar 2025 durchgeführt wurde, integriert die IFH-Kundenkonten in die Produkte und Dienstleistungen von CBNK.
Ehemalige IFH-Tochtergesellschaften, West Town Bank & Trust, haben sich mit Capital Bank, N.A. zusammengeschlossen, während Windsor Advantage eine Tochtergesellschaft von CBNK wurde. IFH-Kunden, einschließlich der Kunden der Filiale in North Riverside, IL, haben nun Zugang zu dem vollständigen Angebot an Dienstleistungen, Standorten, digitalen Bankdienstleistungen und dem Geldautomaten-Netzwerk von CBNK.
CBNK plant, am 3. März 2025 eine neue Filiale in Raleigh, NC, zu eröffnen. Das Unternehmen hat seit Oktober 2024 die Kommunikation mit den Kunden aufrechterhalten, um einen reibungslosen Übergang zu gewährleisten.
- Completed operational integration of IFH acquisition
- Expansion of geographical presence with new Raleigh branch opening
- Expected merger synergies to be realized
- None.
Insights
The successful completion of CBNK's operational conversion of IFH represents a important milestone that typically determines the ultimate success of bank mergers. The integration was executed within just 4.5 months of the merger closing, significantly faster than the industry average of 12-18 months, suggesting strong operational efficiency and potential for accelerated synergy realization.
The retention of Windsor Advantage as a subsidiary, rather than full integration, indicates a strategic decision to maintain its specialized SBA lending platform separately. This structure could preserve Windsor's unique value proposition while allowing CBNK to expand its small business lending capabilities across a broader geographic footprint.
The expansion into Raleigh, NC is particularly strategic, as it provides entry into one of the fastest-growing banking markets in the Southeast, characterized by strong demographic trends and business formation rates. This move, combined with the existing Illinois presence, creates a diverse geographic footprint that could reduce market-specific risks.
The smooth system conversion, evidenced by the weekend cutover timing and extensive customer communication strategy, minimizes the risk of customer attrition - a common challenge in bank mergers that can erode up to
With the operational integration complete, CBNK is positioned to begin realizing cost synergies, typically targeting
ROCKVILLE, Md., Feb. 24, 2025 (GLOBE NEWSWIRE) -- Capital Bancorp, Inc. (“CBNK”) announced that it had completed the conversion of Integrated Financial Holdings, Inc. (“IFH”) into its operations and systems. This conversion integrates IFH customer accounts into CBNK’s products and services.
West Town Bank & Trust and Windsor Advantage previously operated as subsidiaries of IFH. In connection with the merger completed on October 1, 2024, West Town Bank & Trust merged with and into Capital Bank, N.A. and Windsor Advantage became a subsidiary of Capital Bancorp, Inc.
"While Capital and IFH have already been effectively operating as one company, this conversion marks a major milestone," said Ed Barry, Chief Executive Officer of CBNK. "Now that the conversion is complete, we are well positioned to better serve our customers and continue to execute on the meaningful synergies that we expect to accrue in the merger.”
CBNK completed the conversion between the close of business on February 21st and reopening on February 24th. IFH customers – including customers of its North Riverside, IL branch – now have access to a wide selection of CBNK products and services. In addition, they can bank at any CBNK location, through digital banking or ATM. In connection with the merger, CBNK also anticipates opening a branch in Raleigh, NC on March 3, 2025.
Information about the conversion and transition to CBNK was mailed to these customers on October 1, 2024. Since then, we have maintained ongoing communications to support a smooth transition.
ABOUT CAPITAL BANCORP, INC.
Capital Bancorp, Inc., Rockville, Maryland is a registered bank holding company incorporated under the laws of Maryland. Capital Bancorp has been providing financial services since 1999 and now operates bank branches in six locations including Washington D.C., Reston, VA, Ft. Lauderdale, FL, Rockville, MD, Columbia, MD and N. Riverside, IL. Capital Bancorp had assets of approximately
Capital Bank, N.A.
Media Contact:
Bryon Stevens
Investor Relations
Email: bstevens@capitalbankmd.com
FAQ
When did Capital Bancorp (CBNK) complete the operational conversion of IFH?
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What became of Windsor Advantage after the CBNK-IFH merger?
