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HomeBank CapitalCapital Bancorp Reports First Quarter 2021 Net Income of

Capital Bancorp Reports First Quarter 2021 Net Income of

ROCKVILLE, Md., April 22, 2021 (GLOBE NEWSWIRE) — Capital Bancorp, Inc. (the “Company”) (NASDAQ: CBNK), the holding company for Capital Bank, N.A. (the “Bank”), today reported net income of $9.0 million, or $0.65 per diluted share, for the first quarter of 2021. By comparison, net income was $2.9 million, or $0.21 per diluted share, for the first quarter of 2020. Return on average assets was 1.87% for the first quarter of 2021, compared to 0.84% for the same period in 2020. Return on average equity was 22.3% for the first quarter of 2021, compared to 8.6% for the same period in 2020.

“Capital Bancorp started the year with solid first quarter results and is well-positioned to continue our profitable growth in 2021,” said Steven Schwartz, Chairman of the Board of the Company. “Investments in technology and personnel continue to drive results and support the Bank’s differentiated and diversified business model that has demonstrated resiliency in a variety of economic environments.”

“Strong performance by all of our business lines delivered another quarter of exceptional revenue and earnings,” said Ed Barry, CEO of the Company. “We continue to navigate through the COVID-19 pandemic and are building substantial long-term momentum across all of our lines of business. We are optimistic about the potential of our investments in technology and infrastructure to support continued profitable growth in a post COVID-19, fintech-enabled world.”

First Quarter 2021 Highlights

Capital Bancorp, Inc.

  • Solid Earnings – The Commercial Bank, Capital Bank Home Loans and OpenSky® all continued to perform well. In the first quarter of 2021, net income of $9.0 million more than tripled from $2.9 million in the first quarter of 2020 as the economy continued to recover from COVID-19. Earnings were $0.65 per diluted share for the three months ended March 31, 2021 compared to $0.21 per share for the same period last year. Book value per common share grew 23.2 percent to $12.14 at March 31, 2021 compared to $9.85 per share at March 31, 2020.
  • Robust Performance Ratios – Return on average assets (“ROAA”) and return on average equity (“ROAE”) were 1.87% and 22.30%, respectively, for the three months ended March 31, 2021 compared to 0.84% and 8.59%, respectively, for the three months ended March 31, 2020.
  • Stable Net Interest Margin – The net interest margin was 5.15% for the three months ended March 31, 2021, which is in line with the 5.16% net interest margin for the same three month period last year.
  • Strong Balance Sheet – As of March 31, 2021, the Company reported a common equity tier 1 capital ratio of 13.81% and an allowance for loan and lease losses (“ALLL”) to total loans ratio of 1.49%, or 1.79% excluding Small Business Administration Payroll Protection Program (“SBA-PPP”) loans.

Commercial Bank

  • Continued Portfolio Loan Growth – Portfolio loans, excluding credit cards, increased by $15.4 million, or 5.1 percent…

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