Capital Bancorp Q3 Earnings Miss Estimates as Net Income Hits $13.1 Million

Capital Bancorp, Inc. (CBNK) on Monday reported third-quarter net income of $13.1 million, or 80 cents per share, falling short of Wall Street expectations. Adjusted for merger and acquisition costs, earnings were 89 cents per share, below the 91-cent average estimate of three analysts surveyed by Zacks Investment Research. The Rockville, Maryland-based bank posted revenue of $87.3 million for the period. Revenue net of interest expense was $68.1 million, also missing the $69 million forecast from three Zacks analysts.