Edward Barry has joined Capital Bank as Chief Executive Officer, succeeding Stephen Ashman who remains Chairman of the Board
ROCKVILLE, Md., Sept. 21, 2012 /PRNewswire/ -- Capital Bank's Board elected to separate the Chairman and CEO functions, in line with best practices for corporate governance. "This seemed like an opportune time for me to retire from day-to-day management," said Ashman, 64. "Capital Bank has grown substantially, and has been profitable every quarter for the past nine years. In 2011, return on equity exceeded 20%, making Capital Bank the 14th most profitable bank among nearly 4,300 U.S. banks with assets between $100 million and $1 billion. Strong earnings momentum has continued for the first nine months of 2012."
"I am excited by the challenge to sustain Capital Bank's growth and profitability, and position the institution to respond to changes impacting community banks," said Barry. "These changes include increased government regulation and new technology that empowers customers to transact banking business in different and more convenient ways."
"Our strong capital and profitability have enabled us to build an outstanding management team," said Ashman, "beginning with the Bank's President, Scot Browning. Scot will continue to manage the Bank's lending activities, which represent both its largest source of profits and its greatest risk." Browning is a member of the Bank's Board of Directors and one of its largest shareholders.
Kathy Curtis oversees enterprise risk management and Filip Feller serves as Chief Financial Officer. The Bank recently recruited executives CJ Conrad as Sales and Marketing Officer and Eric Suss as Human Resources Officer. "Our management team comprises a great mix of talented people, some of whom are steeped in the traditions of community banking, while others were recruited from larger banks or come from outside of banking altogether," said Ashman.
Barry graduated from Cornell University and received an MBA from the Darden Graduate School of Business at the University of Virginia. He has spent the past eight years with Capital One Bank and Bank of America, managing units that provided business banking services to small and mid-sized companies. Prior to that, he worked with Ernst & Young, assisting companies in strategy development and transformation.
Capital Bank is a full service commercial bank dedicated to providing the friendliest, most responsive banking services to businesses, professionals, not-for-profit organizations and investors in the Washington, DC metropolitan area. With over $4000 million in assets and branches centrally located in Montgomery County, MD and Washington, DC. Capital Bank is well positioned to offer a full range of banking services including, online banking, cash management and commercial and residential mortgage lending services. For more information about the Bank, visit the Bank's website at www.capitalbankmd.com.
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SOURCE Capital Bank
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