Capital Bank Announces First Quarter 2017 Results

SAN JUAN CAPISTRANO, Calif., May 12, 2017 /PRNewswire/ -- Capital Bank (OTCQB:CBJC) announced results of operations for the quarter ended March 31, 2017, which reflect continued healthy growth and exceptional profitability.  At the end of the first quarter of 2017, loans totaled $246 million, reflecting year-over-year growth of $34 million or 16%.  During the same period, total deposits increased $33 million or 14% from $237 million to $270 million.  Year-to-date net income at March 31, 2017, totaled $928 thousand, $241 thousand more than year-to-date net income of $687 thousand recorded at the end of the first quarter 2016, reflecting improvement of 35%.  First quarter operations reflect a 1.23% Return on Average Assets, a 13.49% Return on Average Equity, and a Quarterly Earnings Per Share (Basic) of $0.56.

Danna Murphy, Executive Vice President, Chief Operating Officer and Chief Financial Officer, stated, "We are extremely happy with our quarterly results, which continue to reflect consistent performance at a highly successful level.  Our growing team of dedicated community bankers remains focused on expanding our customer base by providing exceptional customer service and convenient, technology based banking products.  As a result, we continue to generate robust loan growth, as evidenced by net increases during the first quarter of this year of over $12 million, representing growth rates of 5% quarter-over-quarter and 20% on an annualized basis.  At the same time, we are committed to the conservative underwriting we have always maintained.  We are proud of our accomplishments, and the superior shareholder return they have generated."

Capital Bank is dedicated to being known as the Premier Business and Professional Bank in the markets we serve by providing innovative financial solutions tailored to the needs of our customers while exceeding expectations and producing superior shareholder value that become solutions recognized for… "Banking Outside the Box".

For Additional Information visit our website at:                     www.mycapitalbank.com

Stock Symbol:  OTCQB:CBJC
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Information contained herein may contain certain forward-looking statements that are based on management's current expectations regarding economic, legislative, and regulatory issues that may impact the Bank's earnings in future periods. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "intend," "estimate" or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could" or "may." Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, real estate values, and competition; changes in accounting principles, policies or guidelines; changes in legislation or regulation; and other economic, competitive, governmental, regulatory and technological factors affecting the Bank's operations, pricing, products and services. The Bank undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.

SOURCE Capital Bank

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