Capital Bancorp Stock Price, News & Analysis

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.

Capital Bancorp, Inc. (NASDAQ: CBNK) announced the appointment of Joseph (Jody) A. Greene to its Board of Directors effective January 1, 2021. Greene, who has been with Capital Bank since 2009, holds extensive real estate and financing experience, serving as President and CEO of Greene & Associates. Following this change, the Board consists of 11 members, 9 of whom are independent, owning approximately 41% of Bancorp's shares. Chairman Steven J. Schwartz praised Greene's contributions to the bank's growth, particularly in the Washington, D.C. area.

Capital Bancorp, Inc. (NASDAQ: CBNK) has successfully completed a private placement of $10 million in 5.00% Fixed-to-Floating Rate Subordinated Notes due 2030. The funds will be utilized to retire $13.5 million of higher-interest subordinated debt from 2015. CEO Edward Barry stated that the oversubscribed offering indicates strong investor confidence. The new Notes will lower the company's interest expenses, positively impacting net income, while qualifying as Tier 2 capital. The Notes carry a fixed rate for the first five years, followed by a quarterly rate adjustment.