Capitol Bank Reports Record Earnings & Strong Growth in 2016
February 21, 2017
Capitol Bank, locally owned and operated, reported 2016 record earnings of $3,141,317 compared to $2,909,799 in 2015 for an increase of 7.9%.
During the period between December 31, 2015 and December 31, 2016:
- Assets of the Bank grew $34.7 million to $348.3 million – an increase of 11%.
- Loans grew $36 million to $248.6 million - an increase of 16.9%.
- Deposits grew 9.3% to $297.7 million.
- Included in the Bank’s total deposits are $63.8 million in deposits from Capitol Bank’s Verona location.
Bank President Ken Thompson states that “Capitol Bank’s solid financial performance and strong asset growth are a testament to the “Bank Local” movement, and validates that Capitol Bank is in a strong position to engage in new business relationships – especially loans”.
Thompson further credits the experienced staff and the robust local business environment as the main contributors to Capitol Bank’s continued success. “Now more than ever, businesses and individuals are more interested in doing business with a customer-focused bank that makes all of its loan decisions locally.”
Capitol Bank is an independent, locally-owned and managed community financial institution with locations at 710 N. High Point Road in Madison and 108 E. Verona Avenue in Verona. It is a full-service bank providing a variety of financial services to businesses and individuals.