Our History Is Being Written by Our Thousands of Business and Consumer Customers at Every Location
Under the leadership of Principal Organizers Dominic J. Romano and William J. Hallissey, an organizing group of 27 members representing real estate, finance, construction, manufacturing, agriculture and charitable interests was created in late 2005 with a single objective: to establish a community bank whose focus would be entirely on the businesses and families of Vineland and the surrounding South Jersey community.
That initial group of 27 soon grew to an investor base of over 400 stockholders, nearly all of whom live and work in the Cumberland County and adjoining South Jersey community. Capital Bank's $20 million initial public offering (IPO) set a record for a new South Jersey bank, and was indicative of the success the new institution would enjoy.
In keeping with the quality of people involved in organizing and capitalizing the new bank, Capital Bank assembled a team of top-notch bankers to manage the organization. Its first employee was President and CEO, David J. Hanrahan, who in turn recruited the best South Jersey bankers to run and market the new community bank. A Board of Directors was also formed to provide strategic direction and oversight to the institution.
The bank commenced its operation in April 2007 in a temporary trailer, then moved into its new headquarters at 175 S. Main Road in February 2008. Capital Bank's initial years in business provided a stark and refreshing contrast to the surrounding economic problems of the region and the world. As the news was dominated by bank failures, unemployment, and a plunge in real estate and stock market values, the new institution nevertheless set records for its growth and success month after month. And while other banks curtailed their lending, Capital Bank's strong capital base and liquidity allowed it to continue making sound loans to deserving businesses and people in South Jersey. This young Vineland-based community bank has so far proven to be one of the most successful new financial institutions in the Northeastern United States.
In July 2009 Capital Bank opened a second Vineland branch office, at 1234 W. Landis Avenue, on the west side of town. The new location demonstrates its commitment to the Greater Vineland community and its determination to prudently and strategically grow.
Capital Bank opened its first Gloucester County branch in Woodbury Heights in September 2010. The bank opened a fourth branch in December 2010—its first in Atlantic County—in Hammonton.
President and CEO Hanrahan said, "We're grateful to the thousands of account holders who have chosen to bring us their banking business since we opened in 2007. We're proud to provide a level of professional, friendly and flexible service unmatched in the community, and we're committed to continue doing so as we grow."
If you're not already a Capital Bank customer, we'll hope you'll contact us to find out why so many of your friends, neighbors and associates have chosen to do business with us.