v3.19.1

Parent Company Financial Information | 12 Months Ended
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Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract] |
Parent Company Financial Information | The balance sheets as of December 31, 2018 and 2017 and statements of income and cash flows for the years then ended, for Capital Bancorp, Inc. (Parent only) are presented below. All share and per common share amounts have been adjusted to reflect the Stock Split. Refer to Note 1 for additional information.
Parent Company Only Balance Sheets |  |  |  |
(in thousands) |  | 2018 |  | 2017
Assets |  |  |  |
Cash and cash equivalents |  | $ | 3,768 |  |  | $ | 798 |
Investment in Bank |  | 95,524 |  |  | 85,898 |
Investment in Church Street Capital |  | 3,284 |  |  | 3,092 |
Investment in Trust |  | 62 |  |  | 62 |
Loans receivable, net of allowance for loan losses of $208 and $44 at December 31, 2018 and 2017, respectively |  | 27,032 |  |  | 7,208 |
Accrued interest receivable |  | 106 |  |  | 83 |
Due from subsidiaries |  | 54 |  |  | — |
Prepaid income taxes |  | 90 |  |  | 135 |
Deferred income taxes |  | 18 |  |  | 18 |
Other assets |  | 134 |  |  | 537 |
|  | $ | 130,072 |  |  | $ | 97,831 |
Liabilities and Stockholders’ Equity |  |  |  |
Borrowed funds |  | $ | 15,393 |  |  | $ | 17,361 |
Accrued interest payable |  | 81 |  |  | 82 |
Due to subsidiaries |  | — |  |  | 94 |
Other liabilities |  | 34 |  |  | 175 |
|  | 15,508 |  |  | 17,712 |
Stockholders’ equity |  |  |  |
Common stock |  | 137 |  |  | 115 |
Additional paid-in capital |  | 49,321 |  |  | 27,051 |
Retained earnings |  | 65,701 |  |  | 53,200 |
Accumulated other comprehensive loss |  | (595 | ) |  | (247 | )
Total stockholders’ equity |  | 114,564 |  |  | 80,119 |
|  | $ | 130,072 |  |  | $ | 97,831 |
Parent Company Only Statements of Income
(in thousands) |  | 2018 |  | 2017
Interest and dividend revenue |  | $ | 577 |  |  | $ | 342 |
Dividend from Bank |  | 4,250 |  |  | 2,450 |
Total interest and dividend revenue |  | 4,827 |  |  | 2,792 |
Interest expense |  | 1,071 |  |  | 1,148 |
Net interest income |  | 3,756 |  |  | 1,644 |
Provision for loan losses |  | 164 |  |  | — |
Net interest income after provision for loan losses |  | 3,592 |  |  | 1,644 |
Noninterest income |  | 8 |  |  | 3 |
Noninterest expenses |  | (248 | ) |  | (137 | )
Income before income taxes |  | 3,352 |  |  | 1,510 |
Income tax benefit |  | 188 |  |  | 308 |
Income before undistributed net income of subsidiaries |  | 3,540 |  |  | 1,818 |
Equity in undistributed net income of subsidiaries |  | 9,227 |  |  | 5,291 |
Net income |  | $ | 12,767 |  |  | $ | 7,109 |
Parent Company Only Statements of Cash Flows |  |  |
(in thousands) | 2018 |  | 2017
Cash flows from operating activities |  |  |
Net Income | 12,767 |  |  | 7,109 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
Provision for loan losses | 164 |  |  | — |
Equity in undistributed income-subsidiary | (9,227 | ) |  | (6,380 | )
(Increase) decrease in receivable from subsidiary bank | (148 | ) |  | 144 |
Stock-based compensation expense | 570 |  |  | 506 |
Director and employee compensation paid in Company stock | 496 |  |  | 776 |
Deferred income tax benefit | (141 | ) |  | (239 | )
Amortization of debt issuance costs | 32 |  |  | 34 |
Changes in assets and liabilities: |  |  |
Accrued interest receivable | (23 | ) |  | (26 | )
Prepaid income taxes and taxes payable | 45 |  |  | 69 |
Other assets | (169 | ) |  | (443 | )
Accrued interest payable | (1 | ) |  | — |
Other liabilities | — |  |  | 18 |
Net cash provided by operating activities | 4,365 |  |  | 1,568 |
Cash flows from investing activities |  |  |
Net increase in loans receivable | (19,988 | ) |  | (3,558 | )
Capital injections to subsidiaries | (367 | ) |  | 80 |
Net cash provided by investing activities | (20,355 | ) |  | (3,478 | )
Cash flows from financing activities |  |  |
Repayment of debt | (2,000 | ) |  | — |
Repurchase of common stock | (45 | ) |  | (512 | )
Proceeds from exercise of stock options | 1,043 |  |  | 1,668 |
Proceeds from shares sold | 198 |  |  | — |
Proceeds from initial public offering, net | 19,764 |  |  | — |
Net cash provided by financing activities | 18,960 |  |  | 1,156 |
Net increase (decrease) in cash and cash equivalents | 2,970 |  |  | (754 | )
Cash and cash equivalents, beginning of year | 798 |  |  | 1,552 |
Cash and cash equivalents, end of year | $ | 3,768 |  |  | $ | 798 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 + Details
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