Recent Updates — CBNK
On September 29, 2026, Capital Bancorp Inc. announced that its wholly owned subsidiary, Capital Bank, N.A., entered into a purchase and assumption agreement to sell its North Riverside, Illinois branch office. A third-party financial institution will acquire the branch's assets, including approximately $123.9 million in deposits as of June 30, 2026, and assume associated liabilities. The transaction includes an estimated deposit premium of $3.3 million and payment for the unpaid principal balance of transferred loans. Specific loan details are to be determined within 30 days, with consummation subject to regulatory approvals. Capital Bancorp Inc. operates in the banking industry as a financial holding company.
On September 29, 2026, Capital Bancorp, Inc. entered into an Agreement and Plan of Merger with Peoples Bancorp, Inc., under which Capital will merge into Peoples in an all-stock transaction valued at approximately $728.1 million. Each share of Capital common stock converts to 1.11 shares of Peoples common stock, implying a deal value of $43.75 per share based on Peoples' September 29 closing price. The merger is expected to create a combined entity with roughly $14 billion in total assets and is anticipated to close in the first half of 2027, subject to regulatory and shareholder approvals. Capital Bancorp operates as a bank holding company providing commercial banking, digital consumer credit, government-guaranteed lending, and mortgage services.
Capital Bancorp, Inc. dismissed Elliott Davis, PLLC as its independent registered public accounting firm and appointed Crowe LLP for the fiscal year ending December 31, 2026. The Audit Committee selected Crowe to access larger resources and industry specialization supporting the company's growth. Previous audit reports contained no adverse opinions or qualifications, though a material weakness in internal control over financial reporting was disclosed in the 2025 Form 10-K. There were no other accounting disagreements or reportable events with the former auditor. Capital Bancorp operates as a bank holding company providing financial services.
The Board of Directors of Capital Bancorp, Inc. unanimously approved proposals to submit to stockholders to eliminate the company's classified board structure and all supermajority voting provisions in its Articles of Incorporation. If approved, future director elections would transition to annual one-year terms. Capital Bancorp, Inc. is a financial services company providing banking services.