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Capital Bancorp ( (CBNK) ) has provided an announcement.
Capital Bancorp, Inc. has finalized its merger with Integrated Financial Holdings, Inc., creating a formidable nationwide leader in government-guaranteed lending, particularly within USDA and SBA lending. This strategic move is set to diversify Capital’s revenue and enhance its service offerings, with the combined entity boasting significant assets, strong capital ratios, and a substantial loan portfolio. Shareholders of IFHI received both shares of Capital stock and cash as part of the merger agreement. Additionally, key IFHI executives, including Mr. Michael Breckheimer and Mr. Marc McConnell, have assumed important roles in the unified company, with McConnell joining Capital’s Board of Directors.
For an in-depth examination of CBNK stock, go to TipRanks’ Stock Analysis page.