Capital Bancorp, Inc. Successfully Integrates Financial Holdings
Capital Bancorp, Inc. (“CBNK”) recently achieved a significant milestone by completing the operational conversion of Integrated Financial Holdings, Inc. (“IFH”). This process integrates IFH customer accounts into CBNK’s comprehensive suite of products and services, signifying a consolidation of resources and capabilities.
Previously, West Town Bank & Trust and Windsor Advantage functioned as subsidiaries under IFH. Following the merger that transpired on October 1, 2024, West Town Bank & Trust merged into Capital Bank, N.A., while Windsor Advantage transitioned into a subsidiary of Capital Bancorp, Inc. The completion of this conversion represents a critical step in streamlining operations and enhancing customer experiences.
A Vision for the Future
CBNK's Chief Executive Officer, Ed Barry, expressed his enthusiasm about this integration: "While Capital and IFH have already been effectively operating as one company, this conversion marks a major milestone. Now that the conversion is complete, we are well positioned to better serve our customers and continue to execute on the meaningful synergies that we expect to accrue in the merger."
Key Changes and New Opportunities
The operational conversion took place between the close of business on February 21 and the resumption of operations on February 24. This seamless transition allows IFH customers, including those from the North Riverside, IL branch, to now utilize a diverse array of CBNK’s offerings. With the merger complete, customers can enjoy banking at any CBNK location, engage with digital banking services, and access ATMs at their convenience.
Excitingly, CBNK is preparing to expand its footprint by opening a new branch in Raleigh, NC on March 3, 2025, reflecting its commitment to growth and enhanced customer service.
Commitment to Communication
In order to ensure a smooth transition for customers, information about the conversion was mailed to all affected clients on October 1, 2024. CBNK has committed to maintaining open lines of communication and providing support throughout this transitional period, ensuring that customers feel informed and valued during this change.
About Capital Bancorp, Inc.
Founded in 1999, Capital Bancorp, Inc. is a registered bank holding company operating from Rockville, Maryland. The company has established a strong footprint, with branches located in six regions including Washington D.C., Reston, VA, Ft. Lauderdale, FL, Rockville, MD, Columbia, MD, and North Riverside, IL. With assets totaling approximately $3.2 billion as of December 31, 2024, its common stock is publicly traded on the NASDAQ Global Market under the ticker symbol "CBNK." More details can be found on the company’s official website under the Investor Relations section.
For further inquiries, please reach out to:
Capital Bank, N.A.
Media Contact:
Bryon Stevens
Investor Relations
Email: bstevens@capitalbankmd.com
Frequently Asked Questions
What was the recent conversion completed by Capital Bancorp?
Capital Bancorp completed the conversion of Integrated Financial Holdings, integrating their operations and systems to enhance customer services.
How does this conversion benefit customers?
Customers of IFH will now have access to an expanded range of CBNK products and services and can bank at any CBNK location.
When did the conversion take place?
The conversion occurred between February 21 and February 24, with services resuming on the latter date.
Is Capital Bancorp expanding its branch network?
Yes, CBNK plans to open a new branch in Raleigh, NC, on March 3, 2025, as part of its growth strategy.
How long has Capital Bancorp been in operation?
Capital Bancorp has been providing financial services since 1999, building a strong reputation over the years.
