Capital Bancorp reports Q3 EPS 89c, consensus 83c

Reports Q3 NII $52.0M vs. $47.6M last year. Reports Q3 net interest margin 6.36% vs. 6.32% last year. “With and without the one-time items this quarter, we continue to grow our tangible book value and report solid returns on equity and tangible book value,” said Steven J Schwartz, Chairman of the Company. “We believe our continued investment in technology and infrastructure, while negatively impacting our current core earnings, will help us provide long-term superior returns to our shareholders. I am also pleased that the uptick in our credit metrics is almost entirely due to loans acquired in the IFH transaction, not to loans originated by Capital Bank. That gives me reason for confidence that our credit discipline, combined with our superior net interest margin, continues to constitute a core competency.”