Welcome to our dedicated page for Capital Bancorp news (Ticker: CBNK), a resource for investors and traders seeking the latest updates and insights on Capital Bancorp stock.
Capital Bancorp, Inc. (CBNK) delivers innovative banking solutions through its commercial lending, mortgage services, and credit-building products. This news hub provides stakeholders with essential updates on operational milestones and strategic initiatives.
Access real-time announcements covering earnings disclosures, regulatory filings, and partnership developments. Our curated collection includes updates on government-backed lending programs, secured credit card innovations through OpenSky, and expansion of residential mortgage services.
Key content categories include quarterly financial results, merger & acquisition activity, leadership changes, product launches, and compliance updates. Investors will find critical information about SBA/USDA lending volumes, commercial deposit growth trends, and credit portfolio performance.
Bookmark this page for streamlined access to CBNK's financial communications. Combine these updates with market analysis tools for comprehensive investment research.
Capital Bancorp announced a 25% increase in net income for Q2 2024, reaching $8.2 million or $0.59 per share, compared to $6.6 million or $0.47 per share in Q1 2024. Net interest income rose by $2.1 million (5.9%), and net interest margin (NIM) increased to 6.46% from 6.24%. The company saw significant loan and deposit growth, with loans growing by $57.1 million (11.7% annualized) and deposits by $94.7 million (19% annualized). A cash dividend of $0.10 per share, 25% higher than the previous quarter, was declared. The pending acquisition of Integrated Financial Holdings received Federal Reserve approval, with other regulatory approvals and shareholder votes pending. Nonperforming assets decreased to 0.58% of total assets from 0.62%.
Capital Bank has announced the appointment of Dominic C. Canuso, CFA, as the new Chief Financial Officer (CFO) for Capital Bancorp and Capital Bank, N.A., effective July 15, 2024. Canuso, a seasoned finance executive, previously served as EVP and CFO at WSFS Bank, where he played a key role in quadrupling the bank's size, producing record profits, and enhancing technology solutions over seven years. He also has prior experience at Barclays Bank, Advanta Bank, and Arthur Andersen Consulting. CEO Ed Barry highlights Canuso's ability to drive growth and transform financial operations as vital to Capital Bank's ongoing expansion. Canuso expressed enthusiasm about joining the leadership team and contributing to Capital Bank's strategic priorities and growth. Canuso is a CFA Charter holder with a Bachelor of Science in Finance and an Executive MBA in Strategy and Leadership from Villanova University.
Capital Bank, N.A. has announced the relocation and expansion of its Reston branch to 1900 Campus Commons Dr, Suite 130, Reston, VA, which opened on May 6, 2024. This move replaces the former location at 10700 Parkridge Blvd #180. The new branch offers increased space and improved parking, aiming to enhance the banking experience for customers and support local business growth. CEO Ed Barry highlighted the bank's commitment to meeting the evolving needs of its clientele. Capital Bank, operating for over 25 years in the DC Metro Region, reported assets of nearly $2.3 billion as of September 30, 2023.
Capital Bank has appointed Jim Witty as the Senior Vice President - Director of Contractor Banking, bringing over 30 years of commercial banking experience to the team. His role will focus on leading strategic initiatives and fostering relationships within the contractor banking sector.
Capital Bank appoints Todd Warren as Senior Vice President and Market Executive for Greater Chesapeake and Baltimore regions. Warren brings 26 years of banking experience to lead C&I teams and support growth initiatives. His community involvement and proven track record make him a valuable addition to the bank.
FAQ
What is the current stock price of Capital Bancorp (CBNK)?
What is the market cap of Capital Bancorp (CBNK)?
