Capital Bancorp Stock Price, News & Analysis

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.

Capital Bank has launched an all-digital mortgage application and e-closing experience to meet increased consumer demand for remote processing due to the pandemic. This innovative platform allows customers to handle their home loan processes from any location, enhancing convenience and efficiency. CEO Edward Barry highlighted the bank’s commitment to integrating advanced technology with superior customer service. Capital Bank, the fifth largest bank in Maryland with assets of about $2.1 billion as of March 31, 2021, aims to transform the mortgage experience for its clients.

Capital Bancorp, Inc. (NASDAQ: CBNK) reported net income of $9.0 million or $0.65 per diluted share for Q1 2021, a significant increase from $2.9 million or $0.21 per share in Q1 2020. Key metrics include a 1.87% return on average assets (ROAA) and 22.3% return on average equity (ROAE). Total assets grew 38.7% year-over-year to $2.09 billion, while portfolio loans increased by 10.5%. Noninterest income surged 152% to $14.0 million, driven by growth in mortgage banking revenue and credit card fees.

Capital Bancorp, Inc. (CBNK) reported a record net income of $9.7 million or $0.71 per diluted share for Q4 2020, up from $5.1 million or $0.36 per diluted share in Q4 2019. The Company achieved a 90.9% increase in net income year-over-year and an impressive return on average assets of 2.08%. Key drivers included loan growth, decreased deposit costs, and strong performances in credit cards and mortgage banking. For 2020, net income rose 52.8% to $25.8 million, with a significant increase in total assets and deposits.

Capital Bank, N.A. has announced that Kathy Curtis is rejoining its Board of Directors after retiring as Chief Risk/Compliance Officer in 2020. With 18 years of experience at the bank, Curtis played a crucial role in developing audit and compliance functions during a period of significant asset growth and regulatory changes. Her expertise in compliance and risk management, along with established relationships with regulators, is expected to enhance the bank's governance as it pursues growth and fintech initiatives.