Capital Bancorp Inc
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
CBNK$42.40-0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Income
Capital Bancorp, Inc. and SubsidiariesConsolidated Statements of Income (unaudited)
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| (dollars in thousands, except per share data) | 2024 | 2023 | 2024 | 2023 |
| Interest income | ||||
| Loans, including fees | $50,047 | $45,385 | $144,313 | $129,651 |
| Investment securities available-for-sale | 1,343 | 1,089 | 3,902 | 3,732 |
| Federal funds sold and other | 1,220 | 1,267 | 3,379 | 2,854 |
| Total interest income | 52,610 | 47,741 | 151,594 | 136,237 |
| Interest expense | ||||
| Deposits | 13,902 | 10,703 | 39,785 | 27,866 |
| Borrowed funds | 354 | 228 | 1,390 | 1,734 |
| Total interest expense | 14,256 | 10,931 | 41,175 | 29,600 |
| Net interest income | 38,354 | 36,810 | 110,419 | 106,637 |
| Provision for credit losses | 3,748 | 2,280 | 9,892 | 6,802 |
| Provision for credit losses on unfunded commitments | 17 | 24 | 263 | 5 |
| Net interest income after provision for credit losses | 34,589 | 34,506 | 100,264 | 99,830 |
| Noninterest income | ||||
| Service charges on deposits | 235 | 250 | 642 | 724 |
| Credit card fees | 4,055 | 4,387 | 12,266 | 13,303 |
| Mortgage banking revenue | 1,882 | 1,243 | 5,325 | 3,730 |
| Other income | 463 | 446 | 1,264 | 1,282 |
| Total noninterest income | 6,635 | 6,326 | 19,497 | 19,039 |
| Noninterest expenses | ||||
| Salaries and employee benefits | 13,345 | 12,419 | 39,524 | 37,116 |
| Occupancy and equipment | 1,791 | 1,351 | 5,268 | 4,100 |
| Professional fees | 1,980 | 2,358 | 5,696 | 7,340 |
| Data processing | 6,930 | 6,469 | 20,479 | 19,558 |
| Advertising | 1,223 | 1,565 | 5,327 | 4,728 |
| Loan processing | 615 | 426 | 1,462 | 1,435 |
| Foreclosed real estate expenses, net | 1 | 1 | 2 | 7 |
| Merger-related expenses | 520 | — | 1,315 | — |
| Operational losses | 1,008 | 953 | 2,721 | 3,123 |
| Other operating | 2,312 | 2,504 | 6,911 | 6,453 |
| Total noninterest expenses | 29,725 | 28,046 | 88,705 | 83,860 |
| Income before income taxes | 11,499 | 12,786 | 31,056 | 35,009 |
| Income tax expense | 2,827 | 2,998 | 7,617 | 8,168 |
| Net income | $8,672 | $9,788 | $23,439 | $26,841 |
| Basic earnings per share | $0.62 | $0.70 | $1.69 | $1.91 |
| Diluted earnings per share | $0.62 | $0.70 | $1.69 | $1.90 |
| Weighted average common shares outstanding: | ||||
| Basic | 13,913,639 | 13,932,848 | 13,909,090 | 14,038,230 |
| Diluted | 13,950,900 | 14,023,906 | 13,909,090 | 14,111,887 |
See accompanying Notes to Unaudited Consolidated Financial Statements
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