Capital Bancorp Swaps Auditors Eleven Weeks After Shareholder Ratification

Capital Bancorp (NASDAQ: CBNK) is a Rockville, Maryland bank holding company with approximately $3.9 billion in assets as of June 30, 2026 and a market capitalization of roughly $617 million. Its principal subsidiary, Capital Bank, N.A., operates four business lines: a commercial banking division serving the mid-Atlantic corridor, the OpenSky secured and unsecured credit card platform, Windsor Advantage (a government-guaranteed loan servicing business acquired as part of the October 2024 purchase of Integrated Financial Holdings), and Capital Bank Home Loans.

Financially the company has been on a growth trajectory, with gross loans and deposits both up roughly 12–14% year-over-year through mid-2026. Net income for Q2 2026 came in at $14.3 million, or $0.87 per diluted share, and return on assets was 1.52%. That said, earnings in Q1 2026 fell 13.7% year-over-year as the company absorbed a surge in operating expenses tied to technology investments and headcount growth.

The company entered 2026 with two open governance items. First, it disclosed a material weakness in its internal controls over financial reporting in the annual report for fiscal year ended December 31, 2025 — a disclosure that has appeared as a going-concern risk factor in every subsequent earnings release. Second, its CFO, Dominic Canuso, resigned in October 2025; Chief Accounting Officer Connie Egan served as interim principal financial officer for roughly two weeks before Jacob Dalaya, previously Chief Strategy Officer, was appointed CFO in November 2025.