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 Bank announces key executive transitions to strengthen leadership and enhance growth initiatives. Steve Poynot has been appointed as the new President of the Bank, overseeing commercial banking operations, while retaining his role as Chief Operating Officer. Scot R. Browning will shift to President of Specialty & CRE Lending, focusing on commercial real estate and specialty lending services. These changes aim to boost value for shareholders and customers.
Mr. Poynot brings over 25 years of experience in various banking sectors, and Brad Rodier joins as Executive Vice President and Chief Lending Officer, enhancing the bank's commercial lending capabilities. Capital Bank maintains over $2.2 billion in assets as of March 31, 2023, and continues to emphasize customer-centric banking.
Capital Bancorp, Inc. (NASDAQ: CBNK) reported a net income of $9.7 million or $0.68 per diluted share for Q1 2023, down from $10.2 million or $0.71 in Q1 2022. Tangible book value increased 15.7% to $16.65 per share. The company remains well-capitalized with a Risk Based Capital ratio of 16.15%. Highlights include total asset growth of $122.8 million (5.8%) and a 4.4% increase in total deposits. However, non-interest income declined 27.3% due to lower credit card fees and a drop in active customer accounts in the OpenSky® division. The liquidity position continues to be robust, and management expresses confidence in maintaining growth despite economic challenges.
Capital Bancorp, Inc. (NASDAQ: CBNK) has declared a cash dividend of $0.06 per share, payable on February 22, 2023 to shareholders of record as of February 6, 2023. The company, based in Rockville, Maryland, has assets totaling approximately $2.1 billion. Capital Bank, its wholly-owned subsidiary, ranks as the fourth largest bank headquartered in Maryland as of December 31, 2022. Capital Bancorp has been in operation since 1999 and serves the greater Washington, D.C. and Baltimore markets.
Capital Bancorp, Inc. (NASDAQ: CBNK) reported a fourth quarter 2022 net income of $9.0 million, or $0.62 per diluted share, a decline from $10.2 million or $0.71 in Q4 2021. Key highlights include a 19.4% annualized increase in net portfolio loans, reaching $80.6 million. The ROAA was 1.67% and ROAE was 16.18%. OpenSky® faced challenges with an 8.2% revenue decline due to reduced customer accounts, while overall credit card balances decreased by 9%. Despite these hurdles, the company remains optimistic about growth in its Commercial Bank and OpenSky® segments for 2023.
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