UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
January 27, 2021 (
(Exact name of registrant as specified in its charter)
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 22, 2021, the Board of Directors (the “Board”) of Capital Bancorp, Inc. (the "Company"), the holding company for Capital Bank, N.A. (the “Bank”), elected Joseph (Jody) A. Greene as a member of the Company’s Board, effective as of February 1, 2021. Mr. Greene has been a member of the Bank’s Board since 2009.
Mr. Greene is considered an independent director under the applicable rules of the Securities and Exchange Commission and The Nasdaq Stock Market. Mr. Greene will serve as a Class 1 director on the Company’s Board, and will be subject to re-election at the Company’s annual meeting of stockholders to be held in 2021. There are no arrangements or understandings between Mr. Greene and any other person pursuant to which he was selected as director.
Additional details may be found in the January 25, 2021 press release, which incorrectly stated the effective date of the appointment as January 1, 2021, attached as Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| 99.1 | Press Release, dated January 25, 2021 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CAPITAL BANCORP, INC. | ||
| Dated: January 27, 2021 | By: | /s/ Edward F. Barry |
| Edward F. Barry Chief Executive Officer | ||
Exhibit 99.1
Capital Bancorp Appoints New Board Member
January 25, 2021
ROCKVILLE, Md., Jan. 25, 2021 (GLOBE NEWSWIRE) -- Capital Bancorp, Inc., (NASDAQ: CBNK) (“Bancorp”) the holding company ofCapital Bank, N.A., today announced the appointment of Joseph (Jody) A. Greene to its Board of Directors effective January 1, 2021. Following his appointment, the Board’s 11 members, 9 of whom are independent, own approximately 41% of the outstanding shares of Bancorp.
Joseph A. Greene has been a member of the Capital Bank Board since 2009 and has extensive experience in real estate, commerce and financing. He is President and CEO of Greene & Associates which is based in the Washington, DC area. His company invests in, develops and renovates commercial, corporate and residential properties in D.C., New York, South Carolina and Georgia.
Steven J. Schwartz, Chairman of Bancorp said, “Having worked with Jody for over 10 years, I have come to appreciate his professionalism, intellect and expertise and look forward to his skill set continuing to make a significant contribution to the future success and growth of Bancorp. Jody’s success as a businessman has been substantially achieved within the Washington, DC area, a community Bancorp serves.”
Adds Greene, “I’ve seen Capital Bank grow and I’m excited to continue to help drive its future growth and furthering our reach in the community.”
ABOUT CAPITAL BANCORP, INC.
Capital Bancorp, Inc., Rockville, Maryland is a registered bank holding company incorporated under the laws of Maryland. The Company’s wholly-owned subsidiary, Capital Bank, N.A., is the fifth largest bank headquartered in Maryland at September 30, 2020. Capital Bancorp has been providing financial services since 1999 and now operates bank branches in five locations in the greater Washington, D.C. and Baltimore, Maryland markets. Capital Bancorp had assets of approximately $1.9 billion at December 31, 2020 and its common stock is traded in the NASDAQ Global Market under the symbol “CBNK.” More information can be found at the Company’s website www.CapitalBankMD.com under its investor relations page.
FINANCIAL CONTACT: Alan Jackson (240) 283-0402
MEDIA CONTACT: Ed Barry (240) 283-1912
WEB SITE: www.CapitalBankMD.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b8bb17be- a4b4-4e72-8750-04f29e250230
| Source: Capital Bancorp, Inc. |