$CBNK

Capital Bancorp Inc

CIK:0001419536|SEC Filings

Consolidated Statements of Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest income
Loans, including fees	$ 65,362	$ 60,810	$ 129,548	$ 119,501
Investment securities available-for-sale	1,814	1,582	3,273	3,443
Federal funds sold and other	2,783	2,194	5,108	4,402
Total interest income	69,959	64,586	137,929	127,346
Interest expense
Deposits	18,522	16,722	36,592	33,234
Borrowed funds	508	218	1,010	419
Total interest expense	19,030	16,940	37,602	33,653
Net interest income	50,929	47,646	100,327	93,693
Provision for credit losses	3,585	4,081	6,599	6,327
Provision for credit losses on unfunded commitments	65	0	270	0
Net interest income after provision for credit losses	47,279	43,565	93,458	87,366
Noninterest income
Loan servicing rights (government guaranteed)	292	(590)	789	(118)
Other income	795	626	1,752	2,228
Total noninterest income	14,361	13,106	27,734	25,655
Noninterest expenses
Salaries and employee benefits	20,067	18,460	40,384	36,527
Occupancy and equipment	3,942	2,995	7,504	5,905
Professional fees	4,125	2,422	9,090	4,534
Data processing	7,551	7,520	15,318	14,632
Advertising	1,816	1,371	3,282	3,150
Loan processing	1,475	979	2,858	1,722
Merger-related expenses	0	1,398	0	2,664
Operational and other card fraud related losses	690	933	1,380	1,836
Regulatory assessment expenses	925	884	1,866	1,773
Other operating	2,595	2,610	5,185	4,882
Total noninterest expenses	43,186	39,572	86,867	77,625
Net income (loss) before taxes	18,454	17,099	34,325	35,396
Income tax expense	4,204	3,963	8,057	8,328
Net income	$ 14,250	$ 13,136	$ 26,268	$ 27,068
Basic earnings per share (in dollars per share)	$ 0.87	$ 0.79	$ 1.61	$ 1.63
Diluted earnings per share (in dollars per share)	$ 0.87	$ 0.78	$ 1.60	$ 1.60
Weighted average common shares outstanding:
Basic (in shares)	16,287,884	16,583,894	16,316,362	16,624,485
Diluted (in shares)	16,372,900	16,801,902	16,403,818	16,872,368
Service charges on deposits
Noninterest income
Noninterest income	$ 409	$ 262	$ 812	$ 520
Credit card fees
Noninterest income
Noninterest income	4,395	4,298	9,087	8,020
Mortgage banking revenue
Noninterest income
Noninterest income	1,960	1,754	3,516	3,585
Government lending revenue
Noninterest income
Noninterest income	1,207	3,112	2,130	4,208
Government loan servicing revenue
Noninterest income
Noninterest income	$ 5,303	$ 3,644	$ 9,648	$ 7,212

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income	$ 26,268	$ 27,068
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	6,599	6,327
Provision for credit losses on unfunded commitments	270	0
Provision for mortgage put-back reserve, net	42	34
Net amortization (accretion) on investment securities available-for-sale	(176)	52
Premises and equipment depreciation	1,489	524
Lease asset amortization	866	843
Amortization of intangible assets	521	522
Increase in cash surrender value of BOLI	(772)	(765)
Net decrease (increase) in loan servicing assets	(31)	3,290
Executive long-term incentive plan expense	345	476
Stock-based compensation expense	1,497	407
Director and employee compensation paid in Company stock	548	596
Deferred income tax expense (benefit)	(1,349)	(108)
Fair value changes in derivative assets and liabilities	(559)	(755)
Decrease (increase) in valuation of loans held for sale carried at fair value	30	(75)
Proceeds from sales of loans held for sale	191,761	199,898
Originations of loans held for sale	(186,203)	(194,485)
Government lending revenue	(2,130)	(4,208)
Changes in assets and liabilities:
Accrued interest receivable	(2,734)	1,515
Taxes payable	822	(13,550)
Other assets	63	(306)
Accrued interest payable	(2,139)	(1,235)
Other liabilities	(18,284)	(7,697)
Net cash provided by operating activities	16,744	18,368
Cash flows from investing activities
Purchases of securities available-for-sale	(50,945)	(31,840)
Proceeds from calls and maturities of securities available-for-sale	60,617	30,925
Net purchases of restricted investments	(310)	(2,564)
Net increase in portfolio loans receivable	(133,321)	(117,177)
Net purchases of premises and equipment	(1,195)	(705)
Net cash used in investing activities	(125,154)	(121,361)
Net increase (decrease) in:
Noninterest-bearing deposits	44,622	26,051
Interest-bearing deposits	233,281	152,748
Dividends paid	(3,914)	(3,324)
Repurchase of common stock	(3,593)	(3,487)
Net proceeds from exercise of stock	708	279
Net cash provided by financing activities	271,104	172,267
Net increase in cash and cash equivalents	162,694	69,274
Cash and cash equivalents, beginning of year	255,565	205,332
Cash and cash equivalents, end of period	418,259	274,606
Noncash investing and financing activities:
Recognition of right-of-use lease asset and lease liability	3,757	0
Change in unrealized gains (losses) on investments	(680)	4,430
Goodwill measurement period adjustment	0	1,352
Cash paid during the period for:
Taxes	7,829	16,815
Interest	$ 39,741	$ 34,888

Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and due from banks	$ 24,771	$ 30,894
Interest-bearing deposits at other financial institutions	393,428	224,611
Federal funds sold	60	60
Total cash and cash equivalents	418,259	255,565
Investment securities available-for-sale	219,947	230,083
Restricted investments	8,707	8,397
Loans held for sale	22,370	25,828
Portfolio loans receivable, net of deferred fees and costs	3,085,950	2,959,457
Less allowance for credit losses	(54,431)	(54,660)
Total portfolio loans held for investment, net	3,031,519	2,904,797
Premises and equipment, net	17,669	15,072
Accrued interest receivable	19,429	16,695
Goodwill	25,969	25,969
Intangible assets	14,250	14,771
Loan servicing assets	1,847	1,816
Deferred tax asset	16,504	14,992
Bank owned life insurance	46,260	45,488
Other assets	47,208	46,734
Total assets	3,889,938	3,606,207
Deposits
Noninterest-bearing	897,363	852,741
Interest-bearing	2,473,740	2,240,459
Total deposits	3,371,103	3,093,200
Federal Home Loan Bank advances	50,000	50,000
Other borrowed funds	2,062	2,062
Accrued interest payable	6,606	8,745
Other liabilities	37,962	50,443
Total liabilities	3,467,733	3,204,450
Stockholders' equity
Common stock, $0.01 par value; 49,000,000 shares authorized; 16,289,288 issued and outstanding at June 30, 2026; 16,373,288 issued and outstanding at December 31, 2025	163	164
Additional paid-in capital	113,217	114,604
Retained earnings	315,103	292,749
Accumulated other comprehensive loss	(6,278)	(5,760)
Total stockholders' equity	422,205	401,757
Total liabilities and stockholders' equity	$ 3,889,938	$ 3,606,207