$38.600
-0.120 (-0.31%)Al cierre
Noticias de CBNK
Eventos de CBNK
Brean Capital Downgrades Capital Bancorp to Neutral
Brean Capital downgraded Capital Bancorp (CBNK) to Neutral from Buy following its announced acquisition by Peoples Bancorp (PEBO) in an all stock deal valued at $43.75 per share.
Peoples Bancorp to Acquire Capital Bancorp in $728.1M All-Stock Transaction
Peoples Bancorp to acquire Capital Bancorp in $728.1M all-stock transaction
Peoples Bancorp to Acquire Capital Bancorp for $728.1 Million
Peoples Bancorp (PEBO) and Capital Bancorp (CBNK) jointly announced the signing of an agreement and plan of merger pursuant to which Peoples will acquire Capital in an all-stock transaction. Under the terms of the Merger Agreement, Capital will merge with and into Peoples, and Capital Bank, N.A. will subsequently merge with and into Peoples' wholly owned subsidiary, Peoples Bank, in a transaction valued at approximately $728.1M. Upon completion of the Merger, the combined company is expected to have approximately $14B in total assets, $10B in total loans and $11B in total deposits, with over 150 banking locations across eight states and Washington, D.C., in addition to nationwide specialty financial services platforms. According to the terms of the Merger Agreement, which has been unanimously approved by the Boards of Directors of both companies, shareholders of Capital will receive 1.11 shares of Peoples common stock for each share of Capital common stock. Based on Peoples' 20-day volume-weighted average closing price of $39.41 per share as of September 29, 2026, the aggregate transaction value is approximately $728.1M, or $43.75 per share. Former Capital shareholders are expected to collectively own approximately 32% of Peoples following completion of the Merger. The transaction is intended to qualify as a tax-free reorganization for federal income tax purposes. The transaction is expected to be immediately accretive to Peoples' estimated earnings in 2027 before one-time costs, with a tangible book value earnback period of under three years and a pro forma return on average tangible common equity of approximately 20%. Pursuant to the Merger Agreement, three members of Capital's Board of Directors are expected to join the Peoples Board at or promptly following closing, subject to Peoples' standard corporate governance practices and director evaluation process. The acquisition is expected to close during the first half of 2027, subject to the satisfaction of customary closing conditions, including regulatory approvals and the approvals of the shareholders of Peoples and Capital.
Company Reports Q2 Revenue of $65.29M, Below Consensus
Reports Q2 revenue $65.29M, consensus $66.66M. Reports Q2 CET1 capital ratio 11.34%. Reports Q2 tangible book value per share $23.45. "The Board is very pleased that we were able to deliver another quarter of strong operating performance, highlighted by solid loan and deposit growth, diversified fee income generation, and continued growth in tangible book value per share," said Steven J. Schwartz, Chairman of the Company. "The increase in non-interest expenses year-over-year reflects our continued investment in strategic initiatives, including our unsecured card platform, the expansion of our targeted C&I verticals, and our customer-facing and back-office technology infrastructure. We believe these investments strengthen our franchise and will continue to reduce our exposure to cyber risks, credit losses at OpenSky(TM), enhance our customers' experience, and, ultimately, improve our operating efficiency, all while supporting our robust, organic, long-term growth goals."
Company Reports Q1 Tangible Book Value per Share of $22.63
Reports Q1 tangible book value per share $22.63. Reports Q1 CET1 capital ratio 12.92%. Reports Q1 net charge-offs .40%. "We are pleased that the sustained organic growth at the Commercial Bank permits us to accommodate an increase in noninterest expenses, while, at the same time, providing our stockholders with reasonable returns and a steadily growing TBV," said Steven Schwartz, chairman of the company. "We expect these expenditures to enable technology advancements in customer experience and back office efficiency, and to support the introduction by OpenSky of new products. We remain alert to the possibility that the markets in which we operate remain vulnerable to disruption from geopolitical and other developments, but have not yet seen any macroeconomic signs of credit deterioration in our markets."
Esta página es solo para investigación y no constituye asesoramiento de inversión. Los modelos pueden equivocarse. El rendimiento pasado no garantiza resultados futuros.