FOR IMMEDIATE RELEASE
August 1, 2016
David J. Hanrahan
Capital Bank Reports Assets Exceed $400 Million;
Announces Promotions and New Hire
Vineland, NJ (8/1/2016) – Capital Bank of New Jersey, the South Jersey community bank owned by hundreds of local stockholders, has announced its mid-year results. The bank reported a net income of $2,035,000 for the six months ended June 30, 2016, a 3% increase over its earnings in the first half of 2015. Capital Bank also reported that its total assets at June 30, 2016 had grown to $410 million.
Dominic J. Romano, Chairman of the Board, commented, “It is a pleasure to be able to report another period of excellent results. The Board is especially pleased that our deposits grew by $29 million, nearly 9%, between December 31, 2015 and June 30, 2016. Every one of our four locations reached a record quarter-end level of deposits at June 30. We are grateful to the many individuals, families, businesses and government agencies who have chosen to bring their banking business to us.”
The bank also announced two recent officer-level promotions and a new hire.
Tammy Oliva has been promoted to IT Officer. A Cumberland County resident, Ms. Oliva joined Capital Bank in early 2015 as its IT Manager. A former Minotola Bank employee, she brings a friendly, helpful, community bank approach to her work.
Jamie Doroshuk has been promoted to Assistant Controller. Ms. Doroshuk, also a Cumberland County resident, worked at Capital Bank from 2008 to 2009 as a part-time teller while in college pursuing her MBA. In 2011 she returned to the bank as its full-time Senior Staff Accountant.
Finally, Donna Giovinazzi was recently hired as the bank’s Assistant Vice President/Woodbury Heights Branch Manager. Ms. Giovinazzi comes to Capital Bank after spending 17 years at The Bank/Fulton Bank of New Jersey, during which time she held several different branch and training positions. Ms. Giovinazzi is a life-long Gloucester County resident.
David J. Hanrahan, President and CEO, said “We have a great group of employees at Capital Bank. The Board was pleased to recently make Tammy and Jamie officers of the bank. Both promotions were well-deserved. And we are glad to welcome Donna to the team. She is our kind of banker, and she will deliver great service to our customers in Gloucester County.”
Earlier this year Capital Bank announced a Stock Repurchase Offer for up to 125,000 shares, or 5% of its stock. The bank reported that as of June 30, 2016, 22,150 shares had been tendered so far in response to the Offer. The Offer is scheduled to run through December 16, 2016 unless it is fully subscribed before that date.
Capital Bank opened in Vineland in 2007. Today it has four locations – two in Vineland, one in Woodbury Heights, and one in Hammonton. Capital Bank lends money to businesses and individuals throughout South Jersey, is an Approved SBA Lender and a NJEDA Premier Lender. It is also 5-Star rated by BauerFinancial (www.BauerFinancial.com) and was recently, for the second consecutive year, named in the American Banker Top 200 Community Banks in the United States. For more information about Capital Bank, please visit www.capitalbanknj.com.