Capital Bancorp, Integrated Financial announce receipt of approvals for merger

Capital Bancorp and Integrated Financial Holdings announced the receipt of regulatory approval from the Office of the Comptroller of the Currency for the proposed merger of IFH with and into CBNK. CBNK previously announced that it has also received approval from the Federal Reserve Bank of Richmond, acting on delegated authority from the Board of Governors of the Federal Reserve System, for the merger. The merger, which was announced March 28, 2024, was also approved by the shareholders of both CBNK and IFH on August 15, 2024. The parties have now received all required approvals necessary to consummate the merger, which remains subject to other customary closing conditions. Assuming the conditions are satisfied, CBNK and IFH are expected to complete the merger early in the fourth quarter of 2024.