Capital Bank Reports Record Profits
Vineland, NJ (7/21/2014) – 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.
David J. Hanrahan, President and CEO, commented “Our community bank approach continues to be very successful. We treat depositors in a friendly, hometown manner with no or low fees; and we actively lend money to businesses throughout South Jersey. We are grateful to the thousands of customers who have chosen to do business with Capital Bank over the last seven years. We welcome new customers to join them”.
Dominic J. Romano, Chairman of the Board, added, “We have a tremendous management team that continues to execute our business plan. While other banks are downsizing and reducing their exposure in our market area, we continue to grow and provide business solutions to our customers”.
Capital Bank completed its record-breaking stock offering in 2007 and opened for business that year. In addition to its two Vineland locations, it has branches in Woodbury Heights and Hammonton. It lends to people and businesses throughout Southern New Jersey. Capital Bank is an Approved SBA Lender and a N.J. EDA Premier Lender. It is also 5-star rated by BauerFinancial (www.BauerFinancial.com). For more information about Capital Bank, please visit www.capitalbanknj.com.