Capital Bancorp Q4 GAAP EPS $0.45, adj. $0.92; closes IFH acquisition; organic loan growth 28% annualized

Capital Bancorp Inc

2024-FY EPS reported $2.12

GAAP net income $7.5M ($0.45 EPS); adj. net income $15.5M ($0.92 EPS) excl. merger costs, IFH ACL, and $2.6M write-down.
Acquired IFH Oct 1, adding $559.4M assets, $373.5M loans, $459.0M deposits; merger-related expenses $2.6M in Q4.
Organic loan growth $149.1M (28.2% annualized) and deposit growth $116.7M (21.2% annualized); total loans up $522.6M.
NIM fell to 5.87% from 6.41% QoQ; core NIM (ex-OpenSky) stable at 4.05% vs 4.08%.
Declared $0.10 dividend payable Feb 26, 2025; tangible book value $18.77, down 6.8% from $20.13 due to purchase accounting.

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