Capital Bancorp Q2 EPS $0.52, down 36% YoY; dividend raised 33% to $0.08

Capital Bancorp Inc

2023-Q2 EPS reported $1.20

Net income $7.3M ($0.52 diluted EPS) vs $9.7M ($0.68) in Q1 2023 and $11.5M ($0.80) in Q2 2022.
Dividend declared $0.08 per share, 33.3% increase from prior quarter; payable Aug 23, record Aug 7.
Average deposits grew $110.4M (25% annualized); average portfolio loans up $50.3M in Q2.
Net interest margin 6.63%, stable vs 6.65% prior quarter; adjusted NIM (ex-credit card/PPP) improved to 4.06%.
Noninterest expense $29.6M rose 12.9% QoQ driven by $2.1M marketing spend for OpenSky acquisition.

item 2.02 item 9.01 item 8.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Capital Bancorp Inc reported second quarter 2023 results: net income $7.3 million, EPS $0.52 per diluted share.

Period: second quarter 2023
Net income: $7.3 million
EPS: $0.52 per diluted share
Result: reported results

Exact text from the filing

Capital Bancorp, Inc. (the "Company") (NASDAQ: CBNK), the holding company for Capital Bank, N.A. (the "Bank"), today reported net income of $7.3 million, or $0.52 per diluted share, for the second quarter 2023

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Source: SEC EDGAR

accession 0001419536-23-000108

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