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Press Release

FOR IMMEDIATE RELEASE
September 29, 2017

Capital Bank Contact:
Barbara Leistner
856-457-6028
bleistner@capitalbanknj.com

Capital Bank Announces $2 Million Stock Repurchase Program

Vineland, NJ (9/29/2017) – Capital Bank of New Jersey announced today a stock repurchase offer for up to 3.9% of its outstanding shares.

In a mailing sent to its stockholders, Capital Bank has offered to purchase up to 100,000 shares of its own stock, at a purchase price of $20.00 per share, totaling up to $2 million. The $20.00 per share price is double the $10.00 price the bank’s original stockholders paid in 2007.

The offer is set to expire no later than February 28, 2018, but shares tendered will be purchased on a “first come, first served” basis.

Commenting on the repurchase offer, Capital Bank Chairman of the Board Dominic J. Romano said, “We believe this offer, just like the previous ones we conducted, will enhance future shareholder value plus create a liquidity option for our stockholders.”

This repurchase offer is the third made by Capital Bank. In 2015, the bank repurchased 66,000 shares at $15.15 per share, and in 2016, it repurchased 61,932 shares at $16.00 per share.

David J. Hanrahan, President of Capital Bank, said “We strive not only to operate Capital Bank successfully, but also to manage our capital smartly. Our consistent profits and solid asset quality enable us to do the right things for our stockholders, including this 2017 repurchase offer.”

In order to give the bank’s non-affiliated stockholders the first opportunity to tender shares, the bank’s current directors and executive officers are not permitted to tender any of their shares in the repurchase offer until on or after November 20, 2017.

Capital Bank stockholders who consider tendering their shares must first review the Offer to Purchase for Cash mailed to them on September 29. Questions about the offer should be directed to David J. Hanrahan at 856-457-6360 or Capital Bank’s transfer agent, Philadelphia Stock Transfer Inc., at 484-416-3124.

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. In August, it will open its first Loan Production Office, in Marlton. The bank is 5-Star rated by BauerFinancial BauerFinancial. ) and was recently, for the third 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.


FORWARD LOOKING STATEMENTS

The Bank may from time to time make written or oral “forward-looking statements”, including statements contained in this 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 our ability to fund the loans in our pipeline; 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.