v3.22.0.1

Parent Company Financial Information | 12 Months Ended
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Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract] |
Parent Company Financial Information | Parent Company Financial Information The balance sheets as of December 31, 2021 and 2020 and statements of income and cash flows for the years then ended, for Capital Bancorp, Inc. (Parent only) are presented below.
Parent Company Only Balance Sheets |  |  |  |  |  |  |  |  |  |
(in thousands) |  | 2021 |  | 2020 |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 630 |  |  | $ | 2,777 |  |  |  |  |  |  |
Investment in Bank |  | 168,308 |  |  | 137,244 |  |  |  |  |  |  |
Investment in Church Street Capital |  | 4,607 |  |  | 4,161 |  |  |  |  |  |  |
Investment in Trust |  | 62 |  |  | 62 |  |  |  |  |  |  |
Loans receivable, net of allowance for loan losses of $328 and $258 at December 31, 2021 and 2020, respectively |  | 36,198 |  |  | 26,999 |  |  |  |  |  |  |
Accrued interest receivable |  | 217 |  |  | 300 |  |  |  |  |  |  |
Deferred income taxes |  | 100 |  |  | 86 |  |  |  |  |  |  |
Other assets |  | 14 |  |  | — |  |  |  |  |  |  |
Total assets |  | $ | 210,136 |  |  | $ | 171,629 |  |  |  |  |  |  |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |  |
Borrowed funds |  | $ | 12,062 |  |  | $ | 12,062 |  |  |  |  |  |  |
Accrued interest payable |  | 44 |  |  | 43 |  |  |  |  |  |  |
Other liabilities |  | 127 |  |  | 213 |  |  |  |  |  |  |
Total liabilities |  | 12,233 |  |  | 12,318 |  |  |  |  |  |  |
Stockholders’ equity |  |  |  |  |  |  |  |  |  |
Common stock |  | 140 |  |  | 138 |  |  |  |  |  |  |
Additional paid-in capital |  | 54,306 |  |  | 50,602 |  |  |  |  |  |  |
Retained earnings |  | 144,533 |  |  | 106,854 |  |  |  |  |  |  |
Accumulated other comprehensive income (loss) |  | (1,076) |  |  | 1,717 |  |  |  |  |  |  |
Total stockholders’ equity |  | 197,903 |  |  | 159,311 |  |  |  |  |  |  |
Total liabilities and stockholders’ equity |  | $ | 210,136 |  |  | $ | 171,629 |  |  |  |  |  |  |
Parent Company Only Statements of Income |  |  |  |  |  |  |  |  |
(in thousands) |  | 2021 |  | 2020 |  |  |  |  |
Interest and dividend income |  | $ | 1,663 |  |  | $ | 1,662 |  |  |  |  |  |
Dividend from Bank |  | 6,500 |  |  | 5,500 |  |  |  |  |  |
Total interest and dividend revenue |  | 8,163 |  |  | 7,162 |  |  |  |  |  |
Interest expense |  | 542 |  |  | 1,095 |  |  |  |  |  |
Net interest income |  | 7,621 |  |  | 6,067 |  |  |  |  |  |
Provision for loan losses |  | 70 |  |  | — |  |  |  |  |  |
Net interest income after provision for loan losses |  | 7,551 |  |  | 6,067 |  |  |  |  |  |
Noninterest income |  | 2 |  |  | 3 |  |  |  |  |  |
Noninterest expenses |  | 393 |  |  | 334 |  |  |  |  |  |
Income before income taxes |  | 7,160 |  |  | 5,736 |  |  |  |  |  |
Income tax expense |  | 138 |  |  | 50 |  |  |  |  |  |
Income before undistributed net income of subsidiaries |  | 7,022 |  |  | 5,686 |  |  |  |  |  |
Undistributed net income of subsidiaries |  | 32,956 |  |  | 20,137 |  |  |  |  |  |
Net income |  | $ | 39,978 |  |  | $ | 25,823 |  |  |  |  |  |
Note 16 - Parent Company Financial Information (continued)
Parent Company Only Statements of Cash Flows |  |  |  |  |  |  |
(in thousands) | 2021 |  | 2020 |  |  |  |
Cash flows from operating activities |  |  |  |  |  |  |
Net Income | $ | 39,978 |  |  | $ | 25,823 |  |  |  |  |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |
Provision for loan losses | 70 |  |  | — |  |  |  |  |
Undistributed net income of subsidiaries | (32,956) |  |  | (20,137) |  |  |  |  |
Decrease in receivable from Bank | — |  |  | 16 |  |  |  |  |
Stock-based compensation expense | 1,347 |  |  | 983 |  |  |  |  |
Director and employee compensation paid in Company stock | 519 |  |  | 268 |  |  |  |  |
Deferred income tax benefit | (14) |  |  | (21) |  |  |  |  |
Amortization of debt issuance costs | — |  |  | 139 |  |  |  |  |
Changes in assets and liabilities: |  |  |  |  |  |  |
Accrued interest receivable | 83 |  |  | (202) |  |  |  |  |
Prepaid income taxes | — |  |  | 9 |  |  |  |  |
Other assets | (14) |  |  | — |  |  |  |  |
Accrued interest payable | 1 |  |  | (39) |  |  |  |  |
Other liabilities | (130) |  |  | (17) |  |  |  |  |
Net cash provided by operating activities | 8,884 |  |  | 6,822 |  |  |  |  |
Cash flows from investing activities |  |  |  |  |  |  |
Net increase in loans receivable | (9,269) |  |  | 1,045 |  |  |  |  |
Capital contributions to subsidiaries | (1,347) |  |  | (1,183) |  |  |  |  |
Net cash provided by investing activities | (10,616) |  |  | (138) |  |  |  |  |
Cash flows from financing activities |  |  |  |  |  |  |
Repayment of debt | — |  |  | (3,500) |  |  |  |  |
Dividends paid | (1,382) |  |  | — |  |  |  |  |
Repurchase of common stock | — |  |  | (3,720) |  |  |  |  |
Proceeds from exercise of stock options | 967 |  |  | 922 |  |  |  |  |
Net cash provided used in financing activities | (415) |  |  | (6,298) |  |  |  |  |
Net increase (decrease) in cash and cash equivalents | (2,147) |  |  | 386 |  |  |  |  |
Cash and cash equivalents, beginning of year | 2,777 |  |  | 2,391 |  |  |  |  |
Cash and cash equivalents, end of year | $ | 630 |  |  | $ | 2,777 |  |  |  |  |

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=123454820&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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