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Capital Bancorp, Inc. (NASDAQ: CBNK) is a prominent bank holding company headquartered in Rockville, Maryland. Through its main subsidiary, Capital Bank, N.A., it operates as a commercial-focused community bank serving businesses, non-profit organizations, and entrepreneurs in the Washington, D.C. metropolitan area and beyond.
Core Divisions
- Commercial Banking: This division provides a range of banking services, including cash management and commercial lending, tailored to meet the needs of local businesses and organizations. Capital Bank, N.A. has received significant recognition for its contributions in this area, including a number two ranking among community lenders and a top ten ranking among all lenders in the Washington metropolitan district by the U.S. Small Business Administration (SBA) for fiscal year 2014.
- Capital Bank Home Loans: Specializing in conventional and government-guaranteed residential mortgage loans, this division serves customers nationwide, offering products like Veterans Administration home loans.
- OpenSky: This division is dedicated to providing secured credit cards to under-banked populations and those aiming to rebuild their credit scores, extending its reach across the entire nation.
- Corporate Office: The corporate office oversees the organization's strategic initiatives and ensures smooth operations across all divisions.
Financial Performance and Growth
With double-digit asset growth over the past few years, Capital Bancorp, Inc. boasts more than $2.2 billion in assets as of December 31, 2023. Its robust financial condition positions the company well to pursue its culture of collaborative partnerships and innovative solutions for businesses and consumers.
Recent Achievements
Capital Bancorp, Inc. has been ranked number 30 in the top 100 community banks in the U.S. for 2014 by SNL Financial, highlighting its strong performance among banks with assets between $500 million and $5 billion. Moreover, it recently entered into a definitive merger agreement with Integrated Financial Holdings, Inc. (IFH), a transaction valued at $66 million. This acquisition is expected to enhance Capital's capabilities in government-guaranteed lending and further diversify its revenue streams.
Strategic Partnerships and Acquisitions
The merger with IFH will create a nationwide leader in government-guaranteed lending, significantly enhancing Capital's service offerings in both USDA and SBA loans. The merger has been approved by both companies' boards of directors and is expected to close in the second half of 2024.
For more information, visit www.CapitalBankMD.com.
Capital Bancorp, Inc. (NASDAQ: CBNK) reported a net income of $10.2 million for Q4 2021, equating to $0.71 per diluted share, consistent with Q4 2020. Portfolio loans increased by $78.9 million compared to the previous quarter and $208.5 million year-over-year. The net interest margin improved to 6.49%, a 92 basis point increase from last year. However, noninterest income fell by 33.8%, attributed to a slowdown in the mortgage banking sector. The return on average assets was 1.95%, indicating stable performance despite challenges.
Capital Bancorp, Inc. (NASDAQ: CBNK) has announced the appointment of Jerome Bailey to its board, enhancing its leadership. Bailey, an experienced entrepreneur and current Vice Chairman of the Bank, brings nearly two decades of expertise in the multifamily housing sector in D.C. He joins the board at a time when Capital Bancorp has reached $2.2 billion in assets. The company is recognized as the fifth largest bank in Maryland, with a strong track record since its founding in 1999. Stephen Ashman, the former board member and CEO, has stepped down after significantly contributing to the company's growth.
OpenSky®, the digital banking division of Capital Bank, N.A., announces the launch of the OpenSky Visa® Gold Card, an unsecured credit card designed for customers transitioning from secured credit options. This card aims to facilitate easier credit access for those who have excelled with the OpenSky Secured Visa® Credit Card, helping them achieve their financial goals. Capital Bank emphasizes its commitment to innovation and customer service through this expansion, reinforcing its strategic objectives in the digital banking sector.
Capital Bancorp, Inc. (NASDAQ: CBNK) announced a cash dividend of $0.05 per share following its third quarter diluted earnings per share of $0.79. The dividend will be payable on November 30, 2021, to shareholders of record by November 15, 2021. Chairman Steve Schwartz expressed confidence in the company's strong financial performance, underscoring robust asset quality, liquidity, and capital growth. Capital Bancorp, headquartered in Rockville, Maryland, had approximately $2.2 billion in assets as of September 30, 2021.
Capital Bancorp, Inc. (NASDAQ: CBNK) reported a strong performance for 3Q 2021, with net income increasing to $11.2 million or $0.79 per diluted share compared to $8.4 million or $0.61 in 3Q 2020. Key metrics include a ROAA of 2.13% and a ROAE of 23.87%. Portfolio loans surged 16.1% year-over-year, aided by a 39.7% increase in noninterest-bearing deposits. However, mortgage origination volumes declined 49.6% due to a rising interest rate environment, impacting revenue from this segment. Overall, robust growth in the Commercial Bank and OpenSky® was noted.
Capital Bancorp, Inc. (NASDAQ: CBNK) has been recognized in the Piper Sandler Bank & Thrift Sm-All Stars for the third consecutive year in 2021. This distinction acknowledges top-performing small-cap banks in the U.S., with criteria such as market capitalization below $2.5B and strong performance across key metrics like growth, profitability, and credit quality. Capital Bank, the fifth largest bank in Maryland, reported $2.2 billion in assets as of June 30, 2021. CEO Edward Barry highlighted the award as a testament to the bank's commitment to blending technology with personalized service.
Capital Bancorp, Inc. (NASDAQ: CBNK) has declared a cash dividend of $0.05 per share following its second quarter earnings per share of $0.68. The dividend will be payable on August 16, 2021, to shareholders of record as of July 30, 2021. Chairman Steve Schwartz emphasized the company's strong financial performance and the Board's commitment to enhancing shareholder value, citing strong asset quality, liquidity, and capital growth.
Capital Bancorp (NASDAQ: CBNK) reported a net income of $9.6 million, or $0.68 per diluted share, for Q2 2021, doubling from Q2 2020's $4.8 million. Key performance metrics include a return on average assets (ROAA) of 1.90% and a return on average equity (ROAE) of 22.36%. The net interest margin increased to 5.47%, up 75 basis points year-over-year. The company demonstrated strong portfolio loan growth, with commercial real estate loans rising by 29.6% year-over-year. Overall, the company is well-capitalized with a common equity tier 1 capital ratio of 13.94%.
Capital Bank, N.A. has been awarded the 2021 Nintex Solution Innovation Award in the “Business Continuity” category, recognizing its digital transformation of the SBA application process during the pandemic. The bank created a secure automated solution that enabled them to assist 1,255 small businesses in securing $239 million in PPP loans, supporting over 37,000 employees. CEO Edward Barry highlighted the team's rapid innovation and commitment to small businesses during a challenging period.
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