Capital Bancorp, Inc. (CBNK) announced its earnings for the fourth quarter, noting a decline compared to the same timeframe the previous year, yet surpassing Wall Street expectations.
The company reported a net income of $7.53 million, translating to $0.45 per share, which contrasts with the prior year's earnings of $9.03 million, or $0.65 per share.
Excluding certain items, Capital Bancorp, Inc. disclosed adjusted earnings of $15.47 million, or $0.92 per share, for the quarter.
On average, analysts had projected earnings of $0.65 per share for the company, typically excluding special items from their forecasts.
Summary of Capital Bancorp, Inc. earnings (GAAP):
- Earnings: $7.53 million compared to $9.03 million in the previous year.
- Earnings per share (EPS): $0.45 versus $0.65 last year.
