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, 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.
Capital Bancorp, Inc. (NASDAQ: CBNK) has declared a cash dividend of $0.06 per share on its common stock, payable on November 23, 2022. Shareholders of record as of November 7, 2022 will receive this dividend. The company, based in Rockville, Maryland, operates Capital Bank, which is the fourth largest bank in Maryland with assets of approximately $2.0 billion as of September 30, 2022. Capital Bancorp has been delivering financial services since 1999.
Capital Bancorp reported a net income of $11.1 million for Q3 2022, resulting in a diluted EPS of $0.77, consistent with $11.2 million or $0.79 per share in Q3 2021. The company achieved a ROAA of 2.15% and a ROAE of 20.32%. Net portfolio loans rose by $40.3 million or 10.0% annualized. Noninterest income decreased by $5.5 million, primarily due to lower mortgage and credit card revenues. Capital ratios remain strong, with a common equity tier 1 ratio of 15.36%.
On October 11, 2022, Capital Bank, N.A. appointed Steven M. Poynot as Chief Operating Officer. Poynot, who has extensive experience in banking, previously held key positions at F&M Trust and Howard Bank, focusing on operations and technology. His appointment aligns with the Bank's strategic goals for growth. Karl Dicker, the former COO, transitions to President of OpenSky and Fintech, marking a shift in focus toward lucrative opportunities. Capital Bank is Maryland's fourth-largest bank, with assets of approximately $2.2 billion as of June 30, 2022, and its stock symbol is CBNK.
Capital Bancorp, Inc. (NASDAQ: CBNK) announced a cash dividend of $0.06 per share, payable August 24, 2022, to shareholders of record by August 8, 2022. Additionally, the company received approval from the Federal Reserve Bank of Richmond to initiate a stock repurchase program, allowing repurchases up to $10 million, representing about 3.1% of outstanding shares. The program aims to enhance shareholder value amidst market volatility and will continue until December 31, 2023. CEO Ed Barry emphasized the company's strong financial position and commitment to capital efficiency.
Capital Bancorp, Inc. (CBNK) reported a net income of $11.5 million or $0.80 per diluted share for the second quarter of 2022, marking a 19.3% increase from $9.6 million in Q2 2021. The company's net portfolio loans rose by $81.4 million, representing a 21.4% annualized growth. The return on average assets (ROAA) was 2.23% while the return on average equity (ROAE) stood at 22.16%. OpenSky® revenues increased 22.1% to $23.0 million, although credit card accounts saw headwinds from fintech competition.
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