Capital Bancorp Stock Price, News & Analysis

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.

Capital Bank, N.A. has appointed Robert M. Kottler and Casey Berman to its Board of Directors, enhancing its leadership team. Kottler, with extensive experience in retail and small business banking, is expected to leverage his fintech knowledge for the bank’s growth. Berman, a venture capitalist with a focus on real estate and technology, will aid in identifying emerging technologies and partnerships to bolster the bank's tech-led strategy. Capital Bank, a Maryland-based institution, holds approximately $1.8 billion in assets and operates in the D.C. metro area.

Capital Bancorp reported record net income of $8.4 million, or $0.61 per diluted share for Q3 2020, an 88% increase compared to Q3 2019. The bank's return on assets and equity improved to 1.89% and 23.28%, respectively. Proactive credit management decreased loans in deferral status to 2.0% of outstanding loans, a 79% reduction since June. Noninterest income surged 192.8% to $21.1 million, driven by mortgage banking and credit card activities. However, provisions for loan losses increased to $3.5 million amid ongoing economic uncertainties.

Capital Bancorp, Inc. (NASDAQ: CBNK) has been recognized as part of the Piper Sandler Bank & Thrift Sm-All Class of 2020, highlighting its status as a top-performing small-cap bank. Criteria for this honor include a market cap below $2.5 billion, effective growth strategies, profitability, credit quality, and capital strength. As Maryland's seventh-largest bank, Capital Bancorp has $1.8 billion in assets and focuses on small business services. CEO Edward Barry emphasized the award reflects their commitment to customer partnerships and tailored solutions, anticipating continued success ahead.

Capital Bank, N.A. has upgraded its digital banking platform designed for small-to-medium businesses, enhancing mobile convenience and cash management functions. The new Enhanced Business Online Banking offers a user-friendly interface with features like real-time alerts, robust transaction history, and mobile banking. CEO Edward Barry emphasizes that the platform supports business owners in managing cash flow efficiently. As of June 30, 2020, Capital Bancorp held approximately $1.8 billion in assets and ranks as Maryland's seventh-largest bank, with its stock traded under the symbol CBNK.