Capital Bank Reports Record Earnings and Growth;
Declares Increase to Cash Dividend
Capital Bank of New Jersey, the South Jersey community bank owned by hundreds of local stockholders, has announced its 2016 earnings. The bank reported a net income of $4,173,000 for the year ended December 31, 2016, a 7.5% increase over its 2015 income of $3,880,000. Earnings per share increased to $1.70 from $1.56 during the same time period. Capital Bank’s total assets at December 31, 2016 were $444 million, representing growth of more than 17% compared to its assets of $378 million at the end of 2015
7 Tips to Prevent Tax ID Fraud
As the 2017 tax season gets underway, Capital Bank of New Jersey is urging all customers to take extra precaution when filing their return to prevent their exposure to tax fraud.
“Fraudsters are using very clever tactics to get a hold of your personal information and submit false tax claims,” said David J. Hanrahan, Sr., President and CEO. “Consumers must be suspicious of any communication from the IRS ¾ through email, text or social media ¾ that requests personal information, and should keep a watchful eye out for missing W-2s and mail containing sensitive financial information.”
City Of Vineland Refinances Electric Utility Bonds
The City of Vineland has completed a deal with Capital Bank of New Jersey to refinance $19,815,000 in outstanding Vineland Electric Utility General Obligation Refunding Bonds, Series 2010. The city received four responses to its request for proposal, with the lowest rate of 3.35% coming from the group led by Capital Bank. Closing on the bond issue took place earlier this week.
Six Tips For Family Caregivers
According to the Caregiver Action Network, more than 65 million Americans care for a loved one living with a disability, disease or experiencing reduced financial capability as a result of aging.
Capital Bank Reports Record Results
Capital Bank of New Jersey, the South Jersey community bank owned by hundreds of local stockholders, has announced its results through the third quarter. The bank reported a net income of $3,164,000 for the nine months ended September 30, 2016, a 7% increase over the same period in 2015. Capital Bank also reported that its total assets at September 30, 2016 were $448 million, an increase of $70 million compared to December 31, 2015.
FDIC Announces New Members for the Advisory Committee on Community Banking
The Federal Deposit Insurance Corporation (FDIC) has announced the selection of eight new members for its Advisory Committee on Community Banking, which has been providing advice and recommendations to the FDIC on a broad range of community bank policy and regulatory matters since it was established in 2009. The Advisory Committee members represent a cross-section of community bankers from around the country.
Landis Sewerage Authority and Capital Bank Close $25 Million Bond Issue
The Landis Sewerage Authority (LSA) and Capital Bank of New Jersey (Capital Bank) jointly announced that last week they closed on a new $25 million bond issue.
Officials Mark The End Of Vineland Affordable Housing Project
Affordable home hunters, bankers and local government leaders are all celebrating the recent completion of a decade-in-the-making affordable housing project in Center City.
Melrose Court Housing, on Almond Street just off South Delsea Drive, is now home for roughly 17 families after construction wrapped up earlier this year on a new block-long neighborhood of rental homes.
Capital Bank Reports Assets Exceed $400 Million;
Announces Promotions and New Hire
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.
How Bank Startups Build Leaders
Capital Bank President and CEO David Hanrahan was part of an interview in the July/August 2016 edition of ABA Banking Journal
Capital Bank Announces $2 Million Stock Repurchase Program;
Reports First Quarter Earnings
Vineland, NJ (4/29/2016) – Capital Bank of New Jersey announced at its April 28 Annual Meeting a stock repurchase offer for up to 5% of its outstanding shares.
Capital Bank President & CEO David Hanrahan Participates in FDIC Roundtable Discussion About the Influence and Importance of Community Banks
Washington, DC (4/6/2016) – Capital Bank Prresident & CEO David Hanrahan was a featured panelist duing an engaging dialogue on key community banking issues as part of the FDIC's Community Banking Initiative. This conference explored strategies for long-term success in the community banking sector. Watch the video of the event below:
Beth Paglione Named One of South Jersey Biz Magazine's 24 Women To Watch for 2016
Vineland, NJ (2/29/2016) – Beth Paglione, Commercial Loan Officer for Capital Bank's Woodbury branch was named one of South Jersey Biz Magazine's 24 Women to Watch for 2016.
From the article:
"A 1993 graduate of Millersville University with a BS in business administration, Paglione joined Capital Bank in January 2011 and works as a commercial lender out of Woodbury Heights. Prior to joining Capital Bank, she spent 18 years employed at The Bank, part of Fulton Financial Corp. She currently serves as a board member of the Gloucester County Boys and Girls Club."
What's the greatest challenge you've had to overcome in your career?
"The balance of my career and family. I've worked hard to advance to my current position so it's been a delicate balancing act to manage that and quality time with my family. I strive to set a good example for my kids so that they see you can have success with your career and be there for them. It's important to teach kids the value of hard work and the importance of family time."
The current issue featuring the 24 Women to Watch is on newsstands now.
Capital Bank Reports 2015 Earnings Up 9%; Declares 20% Increase to Cash Dividend
Vineland, NJ (2/18/2016) – Capital Bank of New Jersey, the South Jersey community bank owned by hundreds of local stockholders, has announced its 2015 earnings. The bank reported a net income of $3,880,000 for the year ended December 31, 2015, a 9% increase over its 2014 income of $3,557,000. Earnings per share increased to $1.56 from $1.42 during the same time periods. Capital Bank’s total assets at December 31, 2015 were $378 million, representing growth of nearly 9% compared to its assets of $347 million at the end of 2014.
7 Tips to Prevent Tax ID Fraud
As Americans begin the process of filing tax returns, identity thieves are scheming to get their hands on that money. Tax identity theft has been the most common form of identity theft reported to the Federal Trade Commission for the past five years.
Capital Bank VP Joseph Rehm Featured In SJ Biz Article
Joseph Rehm, executive vice-president and chief lending officer was featured in the January 2016 South Jersey Biz Magazine's story "The Cost of Doing Business." In the article, local banking and financial professionals give their observations on the current business environment in South Jersey.
Code Blue Programs Help Residents Cope with Frigid Temperatures
Volunteers place linens on rows of cots in the back of a church in Bridgeton, Cumberland County. As temperatures dip below 15 degrees, warming centers across the state are being activated as part of what’s called a “Code Blue” program.
“We call it Code Blue here in Bridgeton when it’s 25 degrees or below or 32 degrees with precipitation,” said Mayor Albert Kelly.
They provide shelter and a hot meal for homeless or at-risk residents for as long as extreme weather persists.
“We have a large population of homeless here in Bridgeton and when the temperature gets cold, for the people who don’t have a place to go, it’s horrific,” said Bill Whelan, site coordinator at the Parish of the Holy Cross.
Capital Bank Reports Results through September 30; Completes Stock Repurchase
Vineland, NJ (10/28/2015) – Capital Bank of New Jersey, the South Jersey community bank owned by hundreds of local stockholders, has announced its results through the third quarter. The bank reported a net income of $2,956,000 for the nine months ended September 30, 2015, a 11.5% increase over the same period in 2014. Capital Bank also reported that its total assets at September 30, 2015 were $369 million.
Pictured: Capital Bank CFO Tom and (Mrs.) Lobosco, and President and CEO David and (Mrs.) Hanrahan
Tom Lobosco Finalist in NJBIZ 2015 CFO of the Year Award
Capital Bank CFO Tom Lobosco was recognized as a finalist in the NJBIZ 2015 CFO of the Year Award at a ceremony held on Friday, October 9, 2015 at the Palace at Somerset Park, in Somerset NJ.
Sponsored by NJBIZ Magazine, The NJBIZ CFO of the Year awards program celebrates New Jersey's financial executives at all levels including controllers, chief financial officers, chief accounting officers, finance directors, business managers, etc., who contribute to the success of New Jersey's economic growth and stability. An independent panel of industry professionals judged the nominations and selected the finalists in each of the award categories.
Congratulations Tom, on this prestigious honor.
Capital Bank Announces Stock Repurchase Offer
Capital Bank of New Jersey announced today a stock repurchase offer for up to 2.6% of its outstanding shares.
Capital Bank Reports Earnings up 20%; Lending Expands
Capital Bank of New Jersey, the South Jersey community bank owned by hundreds of local stockholders, has announced its mid-year earnings. The bank reported a net income of $1,982,000 for the six months ended June 30, 2015, a 20% increase over its earnings in the first half of 2014. Capital Bank also reported that its total assets at June 30, 2015 had grown to $362 million.
Creative Financing for Affordable Housing: Local lenders are helping municipalities participate in affordable housing projects
New Jersey’s banks help provide urban communities with funding for units of affordable housing, retail and commercial space. In Vineland, construction costs for Melrose Court — an affordable housing complex which will consist of 17 single-family units — were financed using Low Income Housing Tax Credits (LIHTC). The hallmark of community banks such as ours is that they understand the needs of the communities they serve and can customize solutions that work for both the municipality and the bank.
Waiting On The Fed: Bankers prepare for rising rates, but wonder if the Fed will pull the trigger.
When asset-liability management consultant Jeff Reynolds talks to banker audiences these days, he often asks who carries an iPhone. Most listeners raise their Apple smartphones in response. Then Reynolds, managing director at Darling Consulting Group, springs the punch line: “The last time the Federal Reserve raised rates, the iPhone didn’t exist.” This makes an impression. The now ubiquilous devices arrived on lhe scene in late June 2007. The last lime the Fed raised rates was in June 2006. They’ve been near 0% for more than six years.
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.
Capital Bank Reports Earnings up 36%; Declares 25% Increase to Cash Dividend
Capital Bank of New Jersey, the South Jersey community bank owned by hundreds of local stockholders, has announced its 2014 earnings. The bank reported a net income of $3,557,000 for the year ended December 31, 2014, a 36% increase over its 2013 earnings of $2,614,000. Capital Bank’s total assets at December 31, 2014 were $347 million, representing growth of more than 9% compared to its assets of $318 million at the end of 2013.
Federal Home Loan Bank Of New York Awards $1.7 Million In Affordable Housing Grants In Atlantic City, Mullica Hill And Vineland
The Federal Home Loan Bank of New York announced today the award of an $847,000 grant to the Atlantic City Housing Authority & Urban Redevelopment Agency to help finance the Atlantic City HOPE VI project, which will construct a 90-unit apartment complex in Atlantic City; the award of a $653,952 grant to United Cerebral Palsy to help finance the rehabilitation of a 167-unit affordable housing complex in Mullica Hill; and the award of a $263,500 grant to the Vineland Housing Development Corporation to help finance the Melrose Court project, which will construct 17 units of affordable rental housing.
Capital Bank Breaks Ground On Melrose Court
Capital Bank, in partnership with the Vineland Housing Authority, broke ground on Melrose Court on October 14, 2014. Melrose Court consists of 17 single-family affordable rental homes situated around a 6.7-acre cul-de-sac between West Almond Street and Chestnut Avenue in Vineland. The $5.8 million project is scheduled to be completed in October of 2015
Capital Bank Reports Record Profits
Capital Bank of New Jersey, the South Jersey community bank owned by hundreds of local stockholders, announced that for the six months ended June 30, 2014 its earnings were $1.65 million, up 20% over the same period in 2013 and the greatest for any six month period in its history. At June 30 Capital Bank had total assets of $359 million, also a record high for the institution.
Good News For First-Time Home Buyers Who Need Help With A Down Payment Or Closing Costs
If you are a first time homebuyer and would like to receive up to $7,500 in "free money" toward your down payment or closing costs, keep on reading, as NIa Coombs has good news for you.
Capital Bank Announces Officer Changes;
Reports Record First Quarter Earnings
Capital Bank of New Jersey, the South Jersey community bank owned by hundreds of local stockholders, announced several officer changes and record earnings at its April 29 Annual Stockholders Meeting.
The HeartBleed Vulnerability And You
Rest assured, that Capital has you protected from this latest security issue. Read more about it.
Capital's President & CEO David Hanrahan Named One Of South Jersey BIz Magazine's 2013 Executives of the Year
South Jersey Biz magazine asked its readers to nominate the local executives who are ensuring our region remains a top destination to either start up or expand, and the result is their largest list yet of Executives of the Year. They found that it’s an exciting time to sit at the helm of a business in South Jersey. Not only are there countless examples of perseverance during the recession, but there is no shortage of leaders who are putting South Jersey on the map as the state moves forward into prosperity.
Capital Bank is proud that its President & CEO, David Hanrahan is not only profiled as one of this year's honorees, but he also appears on the cover of the magazine's November issue.
Read the full article on the South Jersey Biz website
Capital's President & CEO David Hanrahan Appears on NJ Today
Capital Bank of New Jersey's President and CEO, David Hanrahan appeared on May 3, 2012 episode of NJ Today, to discuss how Capital thrives in a "down" economy.
Fee - Free Checking with Interest!
Free ATM Transactions, free checks.
Capital Bank doesn't charge you to use your ATM Visa Debit card, whether you use our ATMs or those of another financial institution. At the end of each month, Capital Bank will reimburse you those ATM fees charged to you by other financial institutions.
Contact your local branch for details.
may vary. Offer may be withdrawn at any time without previous notice.
Fees may reduce earnings.)
We've Got Star Power
Capital Bank has been awarded
a 5-star rating by Bauer Financial.