1ST CAP BANCORP - FISB STOCK NEWS

1st Capital Bancorp (OTCQX: FISB) reported a net income of $1.89 million for Q4 2021, a decline of 19.3% from Q3 2021, but an increase of 18.6% from Q4 2020. For the year, net income rose 69.4% to $7.6 million. Earnings per share diluted decreased to $0.33 in Q4 2021 from $0.40 in Q3 2021. The return on average equity was 9.39%, down from 11.35% in Q3 2021. The net interest margin dropped to 3.17%. Total assets reached $999.4 million, with total loans at $564.2 million, reflecting a 6.8% decrease year-over-year.

1st Capital Bancorp (OTCQX: FISB) announced a Stock Repurchase Program authorizing up to $5 million in common stock repurchases. These repurchases will occur via open-market or privately negotiated transactions, depending on various factors such as capital position and market conditions. The program, set to expire on December 31, 2022, includes a 10b5-1 trading plan to facilitate compliance with insider trading laws. This initiative aims to enhance shareholder value while offering flexibility in execution.

1st Capital Bank (OTC Pink: FISB) announced the appointment of Danelle Thomsen as Executive Vice President and Chief Financial Officer. Thomsen brings 25 years of experience, including senior finance roles and recent leadership as Chief Administrative Officer at a loan servicing company. CEO Samuel Jimenez expressed confidence in her ability to drive operating performance and growth. 1st Capital Bank serves commercial enterprises, professionals, and residents in California's Central Coast, offering various credit products and deposit accounts.

1st Capital Bancorp (OTCQX:FISB) reported net income of $2.26 million for Q3 2021, marking a 15.7% increase from Q2 2021 and 136.7% from Q3 2020. Earnings per share reached $0.40. Key metrics included a return on equity of 11.35%, return on assets of 0.92%, and a net interest margin of 3.26%. Total assets grew to $1.008 billion, with deposits increasing 37.81% year-over-year. Significant improvements in asset quality were noted with non-performing assets at 0.11%.

1st Capital Bank has partnered with Monterey Bay Football Club as their Official Bank and naming rights partner for the VIP Lounge at Cardinale Stadium. This partnership aims to enhance visibility for 1st Capital Bank through promotional materials and in-stadium advertising during match days. CEO Sam Jimenez expressed enthusiasm for the partnership, highlighting the VIP experience it will foster. The club's president, Mike DiGiulio, acknowledged the importance of collaborating with local companies that support community engagement.

1st Capital Bancorp (OTCQX:FISB) reported a net income of $1.95 million for Q2 2021, up 26.8% from Q1 2021 and 44.4% year-over-year. Earnings per share increased to $0.34 from $0.27 in the prior quarter. The return on average equity was 10.36%, up from 8.29% in Q1 2021. Total assets rose to $950.7 million, driven by a 31.16% increase in total deposits to $853.6 million. The company did not incur any provisions for loan losses, reflecting improved asset quality.

OTC Markets Group Inc. (OTCQX: OTCM) announced that 1st Capital Bancorp (OTCQX: FISB), a Monterey County community bank, has graduated to the OTCQX Best Market from the Pink market. This transition, effective July 30, 2021, aims to increase visibility, transparency, and liquidity for shareholders. The move follows stringent financial standards and corporate governance practices. CEO Sam Jimenez emphasized the commitment to creating long-term shareholder value through this upgrade.

1st Capital Bancorp (OTC PINK:FISB), a $875 million asset bank holding company, announced the successful completion of a $15 million private placement of subordinated notes. These fixed-to-floating rate notes will initially have a fixed interest rate of 4.0% until June 30, 2026, after which they will transition to a floating rate tied to the three-month SOFR plus 339 basis points. The proceeds will be used for organic growth and general corporate purposes, enhancing the bank's Tier 2 capital.

1st Capital Bancorp (OTC Pink:FISB) reported a net income of $1.54 million, or $0.27 per diluted share, for Q1 2021, a substantial increase from $608,000 or $0.11 per diluted share in Q1 2020. Total assets rose 35% to $874.4 million YoY, driven by a 38% increase in deposits. The bank did not incur any provisions for loan losses this quarter, contrasting with $825,000 in Q1 2020. However, nonperforming assets increased to 0.35% of total assets. The efficiency ratio improved to 69.69% from 73.06% a year ago. CEO Sam Jimenez highlighted the bank's strong credit quality amid economic recovery.