FOR IMMEDIATE RELEASE
May 1, 2015
Capital Bank Ranked in Top 15th Percentile of Community Banks Nationwide; Reports First Quarter Earnings; Announces Bill Whelan is new SVP
Capital Bank of New Jersey, the South Jersey community bank owned by hundreds of local stockholders, announced at its April 30 Annual Stockholders Meeting that it had earnings of $949,000 for the three months ended March 31, 2015, an increase of $134,000 (16.5%) compared to the first quarter of 2014. It reported total assets of $360 million at March 31.
At that meeting the bank also announced that Seifried & Brew LLC, a community bank risk management firm, named Capital Bank in its 2014 Top 15th Percentile of Community Banks. To gain entry into this distinguished ranking, the bank demonstrated exemplary performance of balancing risk and reward based on its S&B Total Risk/Return Composite Ranking.
Chairman of the Board Dominic J. Romano said, “The Board of Directors is proud of its achievements and that of our stellar management team. Capital Bank's core values have always been customer service and increasing shareholder value”.
Capital Bank also announced that Bill Whelan has joined the organization as its Senior Vice President in charge of Branch and Government Banking. Whelan has worked in the South Jersey banking community for more than 30 years, most recently for Colonial Bank in Vineland.
David J. Hanrahan, President and CEO, said “We are proud to add Bill to the Capital Bank team. He will fit in very nicely at our organization, and will doubtless help our institution continue to grow.”
At its Annual Meeting all eleven of Capital Bank’s directors were re-elected by its stockholders. In addition to Romano and Hanrahan, the bank’s directors are David F. Arena, John J. DiDonato, Daniel Falasca, William J. Hallissey, Harry E. Hearing, Daniel R. Kuhar, Patricia Pilone, Salvatore A. Pipitone, and George H. Stanger, Jr.