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Press Release

FOR IMMEDIATE RELEASE
April 28, 2017

Capital Bank Contact:
David J. Hanrahan
856-457-6360
dhanrahan@capitalbanknj.com

Capital Bank Announces Promotion, Retirement
and New Loan Production Office

Nia CoombsVineland, NJ (4/28/2017) – Capital Bank of New Jersey, the South Jersey community bank owned by hundreds of local stockholders, announced the promotion of Nia Coombs to Vice President. Ms. Coombs is a commercial loan officer who has been employed by Capital Bank since 2007. In addition to managing a commercial loan portfolio, she is also the bank’s SBA loan officer.

Joseph F. Rehm, Chief Lending Officer of the bank, commented “Nia has been instrumental in helping the bank build its SBA Lending Program. We look forward to her continuing to develop this niche.”

At its Annual Stockholders Meeting held on April 27 the bank also recognized the retirement of William J. Hallissey from its Board of Directors.

Mr. Romano said, “The Board is pleased to recognize Bill’s ten years of service as a Director and the important role he played as one of the two Principal Organizers of Capital Bank.”

The bank also announced its plan to open a new Loan Production Office (LPO) in Marlton, New Jersey. The LPO will open in the summer.

David J. Hanrahan, President and CEO, remarked “Capital Bank has been lending money to businesses throughout South Jersey since we opened for business. This new LPO, under the leadership of Brad Cusick, our Camden and Burlington County Market Manager since 2012, will further support our ability to do so.”

The bank reported at its Annual Meeting that it had earnings of $1,286,000 for the three months ended March 31, 2017, an increase of $226,000 (21%) compared to the first quarter of 2016. It reported total assets of $472 million at March 31, 2017.

At the Annual Meeting all eight of Capital Bank’s nominated directors were re-elected by its stockholders. In addition to Romano and Hanrahan, the bank’s directors are John J. DiDonato, Harry E. Hearing, Daniel R. Kuhar, Patricia Pilone, Salvatore A. Pipitone, and George H. Stanger, Jr.

Capital Bank opened for business 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 N.J. EDA Premier Lender.  It is also 5-Star rated by BauerFinancial. For more information about Capital Bank, please visit www.capitalbanknj.com.


FORWARD LOOKING STATEMENTS

The Bank may from time to time make written or oral “forward-looking statements”, including statements contained in this press release. Such statements are not historical facts and include expressions about management's confidence and strategies and management's current views and expectations about new and existing programs and products, relationships, opportunities, taxation, technology and market conditions. Actual results may differ materially from such forward-looking statements, and no undue reliance should be placed on any forward-looking statement. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to, unanticipated changes in the financial markets and the direction of interest rates; volatility in earnings due to certain financial assets and liabilities held at fair value; stronger competition; insufficient allowance for credit losses; a higher level of net loan charge-offs and delinquencies than anticipated; material adverse changes in the Bank’s operations or earnings; a decline in the economy in our primary market areas; changes in relationships with major customers; changes in effective income tax rates; higher or lower cash flow levels than anticipated; inability to hire or retain qualified employees; a decline in the levels of deposits or loss of alternate funding sources; a decrease in loan origination volume; changes in laws and regulations, including issues related to compliance with anti-money laundering and the bank secrecy act laws; adoption, interpretation and implementation of new or current financial or regulatory accounting pronouncements; operational risks, including the risk of fraud by employees and customers; the inability to successfully implement new lines of business or new products and services; and other factors, many of which are beyond the Bank's control. The words “may”, “could”, “should”, “would”, “believe”, “anticipate”, “continue”, “estimate”, “expect”, “intend”, “plan”, “will”, “project”, “take” and similar expressions are intended to identify forward-looking statements. All such statements are made in good faith by the Bank pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The Bank does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Bank.