Capital Bancorp Inc (CBNK) News & EventsCBNKNews & EventsCapital Bancorp Inc

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."

Company Reports Q4 Tangible Book Value Per Share of $22.05

Reports Q4 tangible book value per share $22.05. Reports Q4 CET1 capital ratio 12.98%. Reports Q4 net charge-offs .32%. "Our diversified business model continues to be a source of consistency and strength enabling us to perform at a high level in different market conditions," said Ed Barry, CEO of the company. With the IFH integration behind us, our focus on executing our strategic plan remains our top priority. Our growth levers offer us a wide range of options on which we are capitalizing."