Capital Bancorp reports Q1 EPS 73c, consensus 77c

Reports Q1 tangible book value per share $22.63. Reports Q1 CET1 capital ratio 12.92%. Reports Q1 net charge-offs .40%. “We are pleased that the sustained organic growth at the Commercial Bank permits us to accommodate an increase in noninterest expenses, while, at the same time, providing our stockholders with reasonable returns and a steadily growing TBV,” said Steven Schwartz, chairman of the company. “We expect these expenditures to enable technology advancements in customer experience and back office efficiency, and to support the introduction by OpenSky of new products. We remain alert to the possibility that the markets in which we operate remain vulnerable to disruption from geopolitical and other developments, but have not yet seen any macroeconomic signs of credit deterioration in our markets.”