Capital Bank Celebrates Fifth Anniversary; Reports Record First Quarter Earnings and Total Assets
(05/04/2012) – Capital Bank of New Jersey, the Vineland-based community bank owned by hundreds of local stockholders, announced its first quarter 2012 operating results. The Bank reported that its net income for the three months ended March 31, 2012 was $501,000. It also reported that Capital Bank’s assets exceeded $250 million at March 31, 2012.
The announcements were made at Capital Bank’s Annual Stockholders Meeting held Monday evening at the bank’s headquarters. The evening included a celebration of the Capital Bank’s fifth anniversary. Its 27 original organizers were also honored that night.
Dominic J. Romano, Chairman of the Board, commented “We are grateful to our 27 organizers who, more than five years ago, shared a vision for creating a new community bank to serve Cumberland County and Southern New Jersey. We are also appreciative of our hundreds of local stockholders, without whose support Capital Bank would not be here today.”
At the Stockholders Meeting the Board of Directors was presented with a letter of commendation from Greenleaf Capital Partners, the only institutional investor in Capital Bank’s stock. The commendation congratulated the Board on the Bank’s superior growth, profitability and asset quality.
“We are very proud to have done so well over the past five years, and to have recently paid our first cash dividend to our stockholders,” commented David J. Hanrahan, President and CEO. “Capital Bank has enjoyed five great years of growth and success, and we are optimistic about our future.”