Capital Bancorp, Inc. completed the integration of Integrated Financial Holdings, enhancing services for former IFH customers.
Quiver AI Summary
Capital Bancorp, Inc. (CBNK) has completed the integration of Integrated Financial Holdings, Inc. (IFH) into its operations, effectively merging customer accounts and products. This follows the merger that took place on October 1, 2024, where West Town Bank & Trust merged with Capital Bank, N.A., and Windsor Advantage became a subsidiary of CBNK. CEO Ed Barry announced that this conversion enhances their ability to serve customers better and leverage synergies from the merger. The transition occurred over the weekend from February 21 to 24, 2025, allowing IFH customers, including those from North Riverside, IL, access to CBNK's wide range of services and locations. Additionally, CBNK plans to open a new branch in Raleigh, NC, on March 3, 2025.
Potential Positives
- Completion of the conversion of Integrated Financial Holdings, Inc. into Capital Bancorp’s operations signifies a major milestone, enhancing operational efficiency.
- IFH customers now have access to a wider selection of Capital Bancorp products and services, improving customer experience and potentially increasing customer retention.
- The anticipated opening of a new branch in Raleigh, NC, expands CBNK’s market presence and growth opportunities.
- Successful ongoing communication and support for IFH customers indicate a strong commitment to customer service during the transition.
Potential Negatives
- Completion of the conversion may indicate prior operational difficulties that required extensive integration efforts, potentially raising concerns about the efficiency of the merger process.
- The announcement does not address possible customer dissatisfaction during the transition period, which could reflect poorly on customer service and retention post-merger.
- The absence of detailed performance metrics or projections for the newly integrated operations raises questions about the effectiveness and benefits of the merger, making it difficult for stakeholders to gauge future success.
FAQ
What is the recent announcement from Capital Bancorp, Inc.?
Capital Bancorp, Inc. announced the completion of the integration of Integrated Financial Holdings, Inc. into its operations and systems.
How does the integration affect IFH customers?
IFH customers now have access to a wide range of Capital Bancorp products and services, as well as all CBNK locations.
When was the merger between CBNK and IFH completed?
The merger was completed on October 1, 2024, prior to the integration announcement.
What is the significance of this conversion for Capital Bancorp?
The conversion marks a major milestone, allowing CBNK to better serve customers and leverage synergies from the merger.
When will Capital Bancorp open a new branch?
Capital Bancorp plans to open a new branch in Raleigh, NC on March 3, 2025.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CBNK Insider Trading Activity
$CBNK insiders have traded $CBNK stock on the open market 14 times in the past 6 months. Of those trades, 13 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $CBNK stock by insiders over the last 6 months:
- RANDALL JAMES LEVITT sold 14,500 shares for an estimated $468,367
- DOMINIC C CANUSO (EVP, Chief Financial Officer) has made 10 purchases buying 2,000 shares for an estimated $50,941 and 0 sales.
- STEVEN M POYNOT (President and COO) has made 3 purchases buying 2,000 shares for an estimated $50,720 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$CBNK Hedge Fund Activity
We have seen 63 institutional investors add shares of $CBNK stock to their portfolio, and 25 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ALLIANCEBERNSTEIN L.P. added 253,819 shares (+70.4%) to their portfolio in Q4 2024, for an estimated $7,233,841
- AMERIPRISE FINANCIAL INC removed 229,232 shares (-62.9%) from their portfolio in Q4 2024, for an estimated $6,533,112
- KENNEDY CAPITAL MANAGEMENT LLC added 97,258 shares (+213.3%) to their portfolio in Q4 2024, for an estimated $2,771,853
- BLACKROCK, INC. added 77,609 shares (+11.7%) to their portfolio in Q4 2024, for an estimated $2,211,856
- FOURTHSTONE LLC added 71,627 shares (+138.9%) to their portfolio in Q4 2024, for an estimated $2,041,369
- VANGUARD GROUP INC added 70,420 shares (+14.4%) to their portfolio in Q4 2024, for an estimated $2,006,970
- HIGHPOINT ADVISOR GROUP LLC added 41,798 shares (+inf%) to their portfolio in Q4 2024, for an estimated $1,191,243
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
ROCKVILLE, Md., Feb. 24, 2025 (GLOBE NEWSWIRE) -- Capital Bancorp, Inc. (“CBNK”) announced that it had completed the conversion of Integrated Financial Holdings, Inc. (“IFH”) into its operations and systems. This conversion integrates IFH customer accounts into CBNK’s products and services.
West Town Bank & Trust and Windsor Advantage previously operated as subsidiaries of IFH. In connection with the merger completed on October 1, 2024, West Town Bank & Trust merged with and into Capital Bank, N.A. and Windsor Advantage became a subsidiary of Capital Bancorp, Inc.
"
While Capital and IFH have already been effectively operating as one company, this conversion marks a major milestone,
" said Ed Barry, Chief Executive Officer of CBNK. "
Now that the conversion is complete, we are well positioned to better serve our customers and continue to execute on the meaningful synergies that we expect to accrue in the merger.
”
CBNK completed the conversion between the close of business on February 21
st
and reopening on February 24
th
. IFH customers – including customers of its North Riverside, IL branch – now have access to a wide selection of CBNK products and services. In addition, they can bank at any CBNK location, through digital banking or ATM. In connection with the merger, CBNK also anticipates opening a branch in Raleigh, NC on March 3, 2025.
Information about the conversion and transition to CBNK was mailed to these customers on October 1, 2024. Since then, we have maintained ongoing communications to support a smooth transition.
ABOUT CAPITAL BANCORP, INC.
Capital Bancorp, Inc., Rockville, Maryland is a registered bank holding company incorporated under the laws of Maryland. Capital Bancorp has been providing financial services since 1999 and now operates bank branches in six locations including Washington D.C., Reston, VA, Ft. Lauderdale, FL, Rockville, MD, Columbia, MD and N. Riverside, IL. Capital Bancorp had assets of approximately $3.2 billion at December 31, 2024 and its common stock is traded in the NASDAQ Global Market under the symbol “CBNK.” More information can be found at the Company's website
www.CapitalBankMD.com
under its Investor Relations page.
Capital Bank, N.A.
Media Contact:
Bryon Stevens
Investor Relations
Email:
bstevens@capitalbankmd.com
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
