cbnk-20260126

CBNK Reports 4Q EPS of $0.91

4Q ROA of 1.71% and ROE of 15.23%

FY 2025: Record Earnings, Double-Digit Balance Sheet Growth and a 1.71% ROA

Fourth Quarter 2025 Highlights

•GAAP Net Income of $15.0 million was flat compared to 3Q 2025. Earnings per share of $0.91 increased $0.02 per share, compared to 3Q 2025 and return on average assets ("ROA") of 1.71% decreased 6 basis points compared to 3Q 2025

◦Core net income(1) of $15.0 million, or $0.91 per share increased $0.19 per share compared to 3Q 2025 and Core ROA(1) of 1.71% increased 28 basis points compared to 3Q 2025

•Book value per common share of $24.54 at December 31, 2025, increased $0.74 compared to 3Q 2025, and increased $3.23 when compared to 4Q 2024

◦Tangible book value per share(1) of $22.05, increased 3.4% (not annualized), or $0.72 as compared to 3Q 2025, and increased 15.5%, or $2.96 compared to 4Q 2024

•Return on average equity ("ROE") of 15.23% decreased 34 basis points compared to 3Q 2025, and return on average tangible common equity ("ROTCE")(1) of 17.23% decreased 26 basis points compared to 3Q 2025

◦Core ROE(1) of 15.23% increased 267 basis points compared to 3Q 2025 and Core ROTCE(1) of 17.23% increased 308 basis points compared to 3Q 2025

•Gross Loans(2) grew $137.5 million, or 19.3% (annualized), during 4Q 2025, and grew $329.3 million, or 12.5% from 4Q 2024

•Total deposits grew $180.9 million, or 24.6% (annualized), from 3Q 2025 and grew $331.0 million, or 12.0% from 4Q 2024

◦Customer Deposit3 growth of $41.8 million, or 6.2% (annualized) from 3Q 2025, and $287.4 million, or 11.8% from 4Q 2024

•Net interest income decreased $1.7 million, or 3.3% (not annualized) from 3Q 2025, mainly due to the $4.6 million of accretion during 3Q 2025 from refinancing callable brokered time deposits acquired in the IFH transaction, and increased $6.0 million, or 13.4% from 4Q 2024, primarily driven by growth from the Commercial Bank.

•Net Interest Margin ("NIM") of 5.94% decreased 42 bps compared to 3Q 2025 and increased 7 bps compared to 4Q 2024

◦Commercial Bank NIM(1) of 4.18% decreased by 46 bps (but increased 21 bps when excluding purchase accounting accretion ("PAA")), compared to 3Q 2025, and increased 19 bps, compared to 4Q 2024

◦4Q 2025 net PAA of $0.2 million, or 3 bps of NIM and 3 bps of Commercial Bank NIM(1), decreased $5.3 million, or 61 bps, compared to 3Q 2025.

•The allowance for credit losses to total loans ("ACL Coverage Ratio") equaled 1.85% at December 31, 2025, which represented a 3 bps decrease from September 30, 2025, and remained flat year-over-year.

◦The Commercial Bank ACL Coverage Ratio(1) equaled 1.65% at December 31, 2025, which represented a 5 bps decrease from 1.70% at both September 30, 2025 and December 31, 2024

•Fee Revenue (noninterest income) totaled $12.5 million, or 19.9% of total revenue for 4Q 2025, an increase of $1.4 million from 3Q 2025 primarily due to SBIC income, and increased $0.6 million from 4Q 2024

•Cash Dividend of $0.12 per share declared by the Board of Directors

•Shares repurchased and retired during the three months ended December 31, 2025, as part of the Company's stock repurchase program, totaled 304,288 shares at an average price of $28.12, for a total cost of $8.6 million

(1) As used in this press release, Core net income, Core ROA, Core ROE, ROTCE, Core ROTCE, Commercial Bank NIM, Commercial Bank ACL Coverage Ratio, and Tangible Book Value are non–U.S. generally accepted accounting principles ("GAAP") financial measures. These non-GAAP financial metrics excludes the impact of income from the call of brokered time deposits, merger-related expenses and other pre-tax adjustments which are not indicative of operating performance and tax impacts of such adjustments. Reconciliations of these and other non–GAAP measures to their comparable GAAP measures are set forth in the Appendix at the end of this press release.

(2) Gross loans represent portfolio loans receivable, net of deferred fees and costs.

(3) Customer Deposits represents total deposits excluding brokered deposits.

Rockville, Maryland, January 26, 2026 (GLOBE NEWSWIRE) – Capital Bancorp, Inc. (the "Company") (NASDAQ: CBNK), the holding company for Capital Bank, N.A. (the "Bank"), today reported net income of $15.0 million, or $0.91 per diluted share, for 4Q 2025, compared to net income of $15.1 million, or $0.89 per diluted share, for 3Q 2025, and $7.5 million, or $0.45 per diluted share, for 4Q 2024. Core net income(1) for 4Q 2025 of $15.0 million, or $0.91 per diluted share, compared to $12.2 million, or $0.72 per diluted share in 3Q 2025, and $15.5 million, or $0.92 per diluted share, for 4Q 2024.

The Company also declared a cash dividend on its common stock of $0.12 per share. The dividend is payable on February 28, 2026 to shareholders of record on February 9, 2026.

“Our diversified business model continues to be a source of consistency and strength enabling us to perform at a high level in different market conditions" said Ed Barry, CEO of the Company. With the IFH integration behind us, our focus on executing our strategic plan remains our top priority. Our growth levers offer us a wide range of options on which we are capitalizing."

“We continue to demonstrate our ability to deliver meaningful growth in tangible book value per share and loans outstanding, and we are pleased that net interest margin has proven durable” said Steven J Schwartz, Chairman of the Company. “Our ongoing and planned investments in technology and human capital give me confidence that we are well-positioned to carry forward our strategy for profitable organic growth and to capitalize on opportunities that may arise for bolt-on and other acquisitions. Further, I expect our ongoing, opportunistic stock buyback program will, over time, prove to have been a wise use of our capital.”

Reconciliation of GAAP Net Income to Core (Non-GAAP) Net Income

The following table provides a reconciliation of the Company's net income under GAAP to core net income (non-GAAP) results excluding income from the call of brokered time deposits, merger-related expenses and other one-time non-recurring transactions.


	Fourth Quarter 2025								Third Quarter 2025
(in thousands, except per share data)	Income Before Income Taxes		Income Tax Expense		Net Income		Diluted Earnings per Share		Income Before Income Taxes		Income Tax Expense (Benefit)		Net Income		Diluted Earnings per Share
GAAP Net Income	$	19,681	$	4,644	$	15,037	$	0.91	$	19,867	$	4,802	$	15,065	$	0.89
Deduct: Income from the Call of Brokered Time Deposits	—		—		—				(4,618)		(1,129)		(3,489)
Add: Merger-Related Expenses	—		—		—				697		122		575
Core Net Income(1)	$	19,681	$	4,644	$	15,037	$	0.91	$	15,946	$	3,795	$	12,151	$	0.72


	Year Ended December 31, 2025								Year Ended December 31, 2024
(in thousands except per share data)	Income Before Income Taxes		Income Tax Expense (Benefit)		Net Income		Diluted Earnings per Share		Income Before Income Taxes		Income Tax Expense (Benefit)		Net Income		Diluted Earnings per Share
GAAP Net Income	$	74,944	$	17,774	$	57,170	$	3.41	$	41,832	$	10,860	$	30,972	$	2.12
Deduct: Income from the Call of Brokered Time Deposits	(4,618)		(1,129)		(3,489)				—		—		—
Add: Merger-Related Expenses	3,361		752		2,609				3,930		622		3,308
Add: Non-recurring Equity and Debt Investment Write-Down	—		—		—				2,620		—		2,620
Add: Initial IFH ACL Provision	—		—		—				4,194		1,025		3,169
Core Net Income(1)	$	73,687	$	17,397	$	56,290	$	3.36	$	52,576	$	12,507	$	40,069	$	2.74

Note: The income tax expense reflects the non-deductibility of certain merger-related expenses.

1 As used in this press release, Core net income is a non-GAAP financial measure. This non-GAAP financial metric excludes the impact of income from the call of brokered time deposits, merger-related expenses and other certain pre-tax adjustments which are not indicative of operating performance and tax impacts of such adjustments. Reconciliations of this and other non–GAAP measures to their comparable GAAP measures are set forth in the Appendix at the end of this press release.

Fourth Quarter 2025 Results

Earnings Summary

Net income of $15.0 million was flat compared to 3Q 2025, and earnings per share of $0.91 increased $0.02 per share from 3Q 2025. Net income increased $7.5 million, or 99.6%, from $7.5 million, or $0.45 per diluted share, for 4Q 2024. 4Q 2025 core net income(1) of $15.0 million, or $0.91 per diluted share, increased $2.9 million, or 18.1%, from 3Q 2025 core net income of $12.2 million, or $0.72 per diluted share. 4Q 2025 core net income decreased $0.4 million, or 2.8%, from 4Q 2024 core net income of $15.5 million, or $0.92 per diluted share.

•Net interest income of $50.3 million decreased $1.7 million, or 3.3% (not annualized), compared to 3Q 2025, and increased $6.0 million, or 13.4%, year-over-year.

◦During 3Q 2025 there were two non-recurring events that impacted net interest income.

▪The Bank identified Fee Revenue that was also previously recognized as Interest Income in the first and second quarter. As a result, the Bank recorded a one-time adjustment of $1.3 million of interest income ("Interest Income Adjustment"). There was no corresponding adjustment needed to Fee Revenue as the fee income was correctly recognized during those periods.

▪Also, the Bank issued a call of brokered time deposits acquired from the IFH transaction, resulting in the accelerated accretion of $4.6 million ("Call of Brokered Time Deposits").

▪When excluding the Call of Brokered Time Deposits and Interest Income Adjustment in 3Q 2025, net interest income increased $1.6 million, or 3.2%, from 3Q 2025.

◦Interest income of $68.6 million increased $3.7 million, or 5.8% (not annualized), over 3Q 2025, and increased $6.9 million, or 11.2%, year-over-year. When excluding the Interest Income Adjustment, interest income increased $2.4 million from 3Q 2025, driven by $0.8 million of growth from OpenSky™ and $1.6 million from the Commercial Bank, while the increase year-over-year was primarily driven by strong balance sheet growth and higher net PAA.

▪Interest income included $0.1 million from net PAA in 4Q 2025, compared to $0.2 million in 3Q 2025 and $0.7 million in net PAA in 4Q 2024.

◦Interest expense of $18.4 million increased $5.5 million, or 42.6% (not annualized), compared to 3Q 2025, and increased $1.0 million, or 5.6%, year-over-year. When excluding the Call of Brokered Time Deposits, interest expense increased $0.9 million, or 5.1%, compared to 3Q 2025, primarily driven by $0.5 million lower PAA and a $0.4 million increase from borrowings costs. The increase of $1.0 million year-over-year was primarily driven by $1.3 million of lower PAA offset by a $0.3 million shift in portfolio mix.

▪Interest expense included a $0.2 million benefit from net PAA in 4Q 2025, compared to a $5.3 million benefit in 3Q 2025, which included $4.6 million from the Call of Brokered Time Deposits. There was $1.4 million from net PAA in 4Q 2024.

•The 4Q 2025 provision for credit losses was $4.0 million, a decrease of $0.7 million from 3Q 2025. During the quarter, a $2.0 million credit to the allowance for credit losses was made to reflect recoveries resulting from the sale of $69.5 million charged-off OpenSky™ credit card receivables. Net charge-offs totaled $2.4 million, or 0.32% of portfolio loans (annualized), down from $2.5 million or 0.35% of portfolio loans (annualized), in 3Q 2025. Net charge-offs in the quarter include $1.9 million from the Commercial Bank and $0.5 million from OpenSky™ loans. Net charge-offs for the Commercial Bank increased $1.6 million from 3Q 2025 primarily driven by legacy Commercial Bank loans not previously provided for, and OpenSky™ net-charge-offs decreased $1.7 million from 3Q 2025 primarily driven by the sale of OpenSky™ credit card debt.

◦At December 31, 2025, the ACL Coverage Ratio was 1.85%, down 3 bps from September 30, 2025, and flat year-over-year.

•Fee Revenue of $12.5 million increased $1.4 million, compared to 3Q 2025 and increased $0.6 million year-over-year. During 4Q 2025, Core fee revenue(1) of $12.5 million increased $1.4 million as a result of a $1.2 million higher SBIC investment income and a $0.3 million increase in credit card fees from OpenSky™, offset by a $0.1 million decrease in loan servicing rights income. Year-over-year core fee revenue(1) decreased $2.1 million primarily due to a decrease in government lending revenue of $2.3 million offset by a $0.1 million increase from mortgage banking revenue and an increase of $0.1 million from service charges on deposits. Core fee revenue mix was 19.9% of total revenue for 4Q 2025, compared to 17.5% during 3Q 2025, and 24.7% during 4Q 2024.

•Noninterest expense of $39.1 million increased $0.7 million compared to 3Q 2025 and increased $1.6 million compared to 4Q 2024. Core noninterest expense(1) of $39.1 million increased $1.4 million compared to 3Q 2025 and increased $4.2 million compared to 4Q 2024. Core comparisons include:

◦The increase of $1.4 million quarter-over-quarter was primarily driven by professional fees including costs for investment in OpenSky™ initiatives and other investments in technology, offset by decreases from OpenSky™ marketing, occupancy & equipment from leases and software contracts, and data processing from Windsor™ and OpenSky™.

◦Year-over-year expense growth of $4.2 million was driven by professional fees associated with investments in shared services areas, personnel expense due to headcount growth, marketing expense from OpenSky™, and regulatory fees driven by the acquisition of IFH.

•Income tax expense of $4.6 million, or 23.6% of pre-tax income for 4Q 2025, decreased $0.2 million from $4.8 million, or 24.2% of pre-tax income for 3Q 2025. The effective income tax rate change quarter-over-quarter was primarily due to the $1.1 million utilization of a deferred tax asset related to the Call of Brokered Time Deposits during 3Q 2025.

◦The Core effective income tax rate(1) for 4Q 2025 and 3Q 2025 would have been 23.6% and 23.8%, respectively.

1 As used in this press release, Core fee revenue, Core noninterest expense, and Core effective income tax rate are non-GAAP financial measures. These non-GAAP financial metrics exclude the impact of income from the call of brokered time deposits, merger-related expenses and other certain pre-tax adjustments which are not indicative of operating performance and tax impacts of such adjustments. Reconciliations of these and other non–GAAP measures to their comparable GAAP measures are set forth in the Appendix at the end of this press release.

Balance Sheet

Total assets of $3.6 billion at December 31, 2025 increased $216.8 million from September 30, 2025. Total assets growth year-over-year was $399.3 million, or 12.5%.

•Gross Loans of $2.96 billion at December 31, 2025 increased $137.5 million, or 19.3% (annualized), from September 30, 2025 and increased $329.3 million, or 12.5%, year-over-year.

◦Compared to September 30, 2025, growth was primarily driven by $79.1 million from commercial and industrial ("C&I"), $25.7 million from residential real estate, $15.3 million from construction real estate, $9.5 million from lender finance, and $5.9 million from OpenSky™.

◦Compared to December 31, 2024, growth was primarily driven by $143.7 million from C&I, $77.3 million from residential real estate, $40.5 million from commercial real estate ("CRE"), $38.3 million from construction real estate, $14.6 million from OpenSky™, and $12.8 million from lender finance.

◦C&l loans, plus owner-occupied CRE loans totaled 37.7% of total portfolio loans at December 31, 2025, consistent with the prior quarter, and 37.8% at December 31, 2024.

•Total deposits of $3.09 billion at December 31, 2025 increased $180.9 million, or 24.6% (annualized), from September 30, 2025, and increased $331.0 million, or 12.0% (annualized) from December 31, 2024.

◦When excluding the increase in brokered time deposits of $139.1 million, customer deposits increased $41.8 million or 5.7% (annualized), including $116.0 million of growth in customer money market deposits, offset by a decrease of $49.5 million in customer time deposits, an $18.5 million decrease from interest-bearing demand accounts, a $5.0 million decrease from noninterest-bearing deposits, and a $1.2 million decrease from savings accounts.

◦The increase in total deposits of $331.0 million year-over-year was driven by $288.5 million in growth from customer money market deposits, $43.6 million from brokered time deposits, $41.6 million from noninterest-bearing deposits, $18.4 million from interest-bearing demand accounts, offset by a decrease of $59.2 million from customer time deposits, and $1.8 million from savings accounts.

◦Insured and protected1 deposits were approximately $2.1 billion as of December 31, 2025 representing 68.4% of the Company's deposit portfolio.

◦Low interest and noninterest-bearing DDA deposits of $1.1 billion, or 36.3% of deposits, decreased $24.7 million, or 8.6% (annualized) from 3Q 2025, but increased $58.1 million, or 5.5% year-over-year.

▪The average rate on the low interest and noninterest-bearing deposits was 0.14% for 4Q 2025, which remained flat compared to 3Q 2025 and year-over-year.

•The average portfolio loans-to-deposit ratio was 97.0% for 4Q 2025, compared to 95.6% for 3Q 2025, and 99.3% for 4Q 2024.

•The investment securities portfolio continues to be classified as available-for-sale and had a fair market value of $230.1 million, or 6.4% of total assets, an effective duration of 2.5 years, with U.S. Treasury Securities representing 60% of the overall investment portfolio at December 31, 2025. The accumulated other comprehensive income (loss) on the investment securities portfolio improved $1.0 million during the quarter to negative $5.8 million after-tax as of December 31, 2025, which represents 1.4% of total stockholders' equity. The Company does not have a held-to-maturity investment securities portfolio.

•Liquidity – The Company maintains stable and reliable sources of available borrowings, generally consistent with prior quarter. Sources of available borrowings at December 31, 2025 totaled $817.9 million, compared to $858.4 from 3Q 2025. During 4Q 2025, available collateralized lines of credit

1 Protected deposits includes deposits that are indirectly protected under the product terms.

totaled $731.6 million, unsecured lines of credit with other banks totaled $76.0 million and unpledged investment securities available as collateral for potential additional borrowings totaled $9.3 million.

•Capital Positions – As of December 31, 2025, the Company reported a Common Equity Tier-1 capital ratio of 12.98%, compared to 13.54% at September 30, 2025. At December 31, 2025, the Company and the Bank maintained regulatory capital ratios that exceed all capital adequacy requirements.

◦Shares repurchased and retired during the three months ended December 31, 2025, as part of the Company's stock repurchase program, totaled 304,288 shares at an average price of $28.12, for a total cost of $8.6 million. As of December 31, 2025, there was $3.3 million remaining to be repurchased under the current $15.0 million authorization repurchase program, which will expire on February 28, 2026.

Financial Metrics

Net Interest Margin – NIM of 5.94% for 4Q 2025, decreased 42 bps compared to the prior quarter, and increased 7 bps year-over-year. Commercial Bank NIM(1) of 4.18% decreased 46 bps (but increased 21 bps when excluding PAA) compared to the prior quarter, and increased 19 bps year-over-year. Net PAA for 4Q 2025 was 3 bps for NIM and 3 bps for Commercial Bank NIM(1).

•3Q 2025 includes the previously mentioned $4.6 million Call of Brokered Time Deposits and $1.3 million Interest Income Adjustment. Excluding the Interest Income Adjustment and Call of Brokered Time Deposits in 3Q 2025, Commercial Bank NIM(1) declined to 4.18%, or 3 bps, in 4Q 2025.

•The average yield on interest earning assets of 8.10% increased 17 bps compared to the prior quarter and decreased 7 bps year-over-year. During 3Q 2025 there was a 16 bps impact from the Interest Income Adjustment. Excluding this item, the average yield in 3Q 2025 would have been 8.09%, which results in a increase of 1 bps compared to 3Q 2025. The decrease quarter-over-quarter was primarily a result of changes in the overall rate environment. The average yield decreased 7 bps year-over-year primarily due to changes in the overall rate environment.

◦The Commercial Bank Loan Yield(1) of 6.95% for 4Q 2025 increased 21 bps compared to 3Q 2025, and decreased 3 bps year-over-year. Excluding the Interest Income Adjustment impact, the average yield in 3Q 2025 would have been 6.94%, which remained flat compared to 3Q 2025.

•The total cost of deposits of 2.36% for 4Q 2025 increased 63 bps compared to the prior quarter and decreased 14 bps year-over-year. During 3Q 2025 there was a 63 bps impact from the Call of Brokered Time Deposits. Excluding this item, the cost of deposits for the quarter would have been 2.36%, and 4Q 2025 would have been consistent with 3Q 2025.

•The total cost of interest-bearing deposits increased 87 bps quarter-over-quarter, and decreased 19 bps year-over-year, to 3.28% for 4Q 2025. Excluding the Call of Brokered Time Deposits, the 3Q 2025 cost of interest-bearing deposits would have been 3.28%, and 4Q 2025 would have been consistent with 3Q 2025. The decrease year-over-year was due to a shift in product mix as well as a change in the rate environment.

•Net PAA of $0.2 million, or 3 bps of NIM and 3 bps of Commercial Bank NIM(1), during 4Q 2025, decreased $5.3 million from 3Q 2025 mainly due to the Call of Brokered Time Deposits. There was $0.7 million from net PAA during 4Q 2024.

•NIM for 2025 was 6.10%, a year-over-year decrease of 15 bps from 6.22% for 2024. The decrease was primarily driven by the acquisition of commercial loans from IFH, which diluted the impact from OpenSky™.

◦Commercial Bank NIM(1) for 2025 was 4.38%, a year-over-year increase of 45 bps from 3.93% for 2024 that was primarily driven by the acquisition of commercial loans from IFH and balance sheet growth from the Commercial Bank during 2025. Excluding the Call of Brokered Time Deposits and Interest Income Adjustment, Commercial Bank NIM(1) for 2025 would have been 4.27%, an increase of 34 bps year-over-year.

Fee Revenue Mix – The fee revenue mix was 19.9% of total revenue for 4Q 2025, compared to 17.5% during 3Q 2025, and 21.2% during 4Q 2024. The core fee revenue mix(1) was 19.9% for 4Q 2025, compared to 17.5% during 3Q 2025, and 24.7% during 4Q 2024.

Credit Metrics and Asset Quality – The ACL Coverage Ratio equaled 1.85% at December 31, 2025, a decrease of 3 bps from September 30, 2025, and remained flat year-over-year.

1 As used in this press release, Commercial Bank NIM, Commercial Bank Loan Yield, Core fee revenue mix and Core efficiency ratio are non-GAAP financial measures. These non-GAAP financial metrics exclude the impact of income from the call of brokered time deposits, merger-related expenses and other certain pre-tax adjustments which are not indicative of operating performance and tax impacts of such adjustments. Reconciliations of these and other non–GAAP measures to their comparable GAAP measures are set forth in the Appendix at the end of this press release.

Nonperforming assets were $58.3 million or 1.62% of total assets at December 31, 2025, an increase of $6.0 million or 7 bps compared to September 30, 2025. The increase in nonperforming assets from 3Q 2025 was primarily driven by $3.9 million from OREO, or 5 bps, and $2.2 million from the acquired IFH portfolio, or 2 bps. Nonperforming assets increased $28.0 million or 67 bps year-over-year, mainly due to the $15.9 million increase during 3Q 2025 from two loan relationships acquired as part of the IFH transaction, described last quarter, $4.4 million from other changes in the acquired IFH portfolio, $3.9 million from OREO, and $3.8 million from the legacy Commercial Bank portfolio. At December 31, 2025, substandard loans totaled $58.5 million, or 2.0% of total portfolio loans, compared to $56.8 million, or 2.0% of total portfolio loans, at September 30, 2025 and $48.4 million, or 1.8% of total portfolio loans, at December 31, 2024. The $10.1 million year-over-year increase in substandard loans was primarily driven by the $15.9 million of loans described above. At December 31, 2025, special mention loans totaled $57.9 million, or 2.0% of total portfolio loans, compared to $71.5 million, or 2.5% of total portfolio loans, at September 30, 2025, and $60.0 million, or 2.3% of total portfolio loans, at December 31, 2024.

Efficiency Ratios – The efficiency ratio was 62.3% for 4Q 2025, compared to 60.8% for 3Q 2025 and 66.7% for 4Q 2024. The core efficiency ratio(1) was 62.3% for 4Q 2025, which decreased from 64.4% compared to the prior quarter, and increased from 59.3% for 4Q 2024.

Financial Metrics (Continued)

Performance Ratios – ROA was 1.71% for 4Q 2025, compared to 1.77% for 3Q 2025, and 0.96% for 4Q 2024. Core ROA(1) for 4Q 2025 was 1.71%, compared to 1.43% for 3Q 2025, and 1.97% for 4Q 2024.

•ROE was 15.23% for 4Q 2025, compared to 15.57% for 3Q 2025, and 8.50% for 4Q 2024. Core ROE(1) was 15.23% for 4Q 2025, compared to 12.56% for 3Q 2025, and 17.46% for 4Q 2024.

•ROTCE(1) was 17.23% for 4Q 2025, compared to 17.49% for 3Q 2025, and 9.33% for 4Q 2024. Core ROTCE(1) for 4Q 2025 was 17.23%, compared to 14.15% for 3Q 2025, and 18.91% for 4Q 2024.

Book Value and Tangible Book Value – Book value per common share of $24.54 at December 31, 2025, increased $0.74 when compared to September 30, 2025, and increased $3.23 when compared to December 31, 2024. Tangible book value per common share(1) increased $0.72, or 3.4% (not annualized), to $22.05 at December 31, 2025 when compared to September 30, 2025, and increased $2.96, or 15.5%, when compared to December 31, 2024. Tangible book value(1) was impacted by the purchase accounting adjustments required as part of the IFH acquisition. Tangible book value per share(1) was equal to book value per share for periods prior to 4Q 2024.

1 As used in this press release, Core ROA, Core ROE, ROTCE, Core ROTCE, and Tangible Book Value are non-GAAP financial measures. These non-GAAP financial metrics exclude the impact of income from the call of brokered time deposits, merger-related expenses and other certain pre-tax adjustments which are not indicative of operating performance and tax impacts of such adjustments. Reconciliations of these and other non–GAAP measures to their comparable GAAP measures are set forth in the Appendix at the end of this press release.

Commercial Bank

Loan Growth – Portfolio loans(1) increased $129.6 million at December 31, 2025 compared to September 30, 2025, driven by $79.1 million from C&I, $25.7 million from residential real estate, and $15.3 million from construction real estate. Portfolio loans increased $327.8 million at December 31, 2025 compared to December 31, 2024, driven by $143.7 million from C&I, $77.3 million from residential real estate, and $40.5 million from CRE. Historical gross portfolio loan balances are disclosed in the Composition of Loans table within the Historical Financial Highlights.

Net Interest Income – Interest income of $52.0 million increased $3.0 million from the prior quarter, primarily due to 3Q 2025, due to growth in the Commercial Bank loan portfolio during the quarter. Excluding the $1.3 million Interest Income Adjustment in 3Q 2025, interest income grew by $1.6 million from 3Q 2025. Interest expense of $18.2 million increased $5.5 million, primarily due to 3Q 2025 including a $4.6 million benefit from the Call of Brokered Time Deposits. The remaining $0.9 million increase was due to $0.5 million from lower PAA and $0.4 million from short term borrowings during 4Q 2025.

Credit Metrics – Nonperforming assets increased 8 bps to 1.71% of total assets at December 31, 2025 compared to September 30, 2025. Total nonaccrual loans at December 31, 2025 were $54.4 million, an increase of $2.2 million or 4.0% compared to $52.2 million at September 30, 2025.

Classified and Criticized Loans – At December 31, 2025, special mention loans totaled $57.9 million, or 2.0% of total portfolio loans, compared to $71.5 million, or 2.5% of total portfolio loans, at September 30, 2025. At December 31, 2025, substandard loans totaled $58.5 million, or 2.0% of total portfolio loans, compared to $56.8 million, or 2.0% of total portfolio loans, at September 30, 2025.

OpenSky™

Accounts – During 4Q 2025, credit card accounts of 585.5 thousand declined by 2.1 thousand, or 0.4% (not annualized) from September 30, 2025, and increased 32.9 thousand, or 6.0% year-over-year.

Loan and Deposit Balances – Secured and unsecured loan balances, net of reserves for interest and fees, of $142.4 million at December 31, 2025 increased by $5.9 million, or 4.3% (not annualized), compared to September 30, 2025 and $14.6 million, or 11.5%, year-over-year. Deposit balances of $163.2 million for 4Q 2025 decreased $3.7 million compared to 3Q 2025 and decreased $3.2 million, or 1.9% year-over-year. Gross unsecured loan balances of $61.4 million at December 31, 2025 increased $7.7 million, or 14.4% (not annualized), compared to $53.6 million at September 30, 2025, and increased $18.9 million year-over-year. Gross secured loan balances of $83.1 million at December 31, 2025 decreased $1.7 million, or 2.0% (not annualized), compared to $84.7 million at September 30, 2025, and decreased $4.2 million, or 4.8% (not annualized) year-over-year.

Net Interest Income – Interest income of $16.4 million increased $0.7 million compared to 3Q 2025. Average OpenSky™ credit card loan balances, net of reserves and deferred fees of $133.9 million for 4Q 2025, increased $4.8 million, or 3.7% (not annualized), compared to 3Q 2025.

Fee Revenue – Total fee revenue of $4.8 million increased $0.3 million from the prior quarter primarily driven by other credit-card related fees associated with the legacy product.

Noninterest Expense – Total noninterest expense of $14.6 million increased $0.6 million compared to 3Q 2025, driven primarily by professional fees associated with the legacy and unsecured products.

OpenSky™ Credit – Portfolio credit metrics continued to be consistent with modeled expectations during 4Q 2025. The provision for credit losses of $1.3 million decreased $1.5 million when compared to the prior quarter, primarily due to a $2.0 million credit to the allowance for credit losses was made to reflect the debt sale.

(1) Portfolio loans represents portfolio loans receivable excluding deferred origination fees, net.

OpenSky's™ unsecured loan product is offered exclusively to current and former secured card customers. Unsecured loans have been offered by OpenSky™ since the fourth quarter of 2021 and have generally performed in accordance with management expectations over that time period.

Capital Bank Home Loans

Originations of loans held for sale totaled $107.3 million during 4Q 2025, with $83.0 million of mortgage loans sold resulting in a gain on sale of loans of $2.1 million, representing a 2.58% gain on sale as a percentage of total loans sold. Originations of loans held for sale totaled $80.7 million during 3Q 2025, with $66.4 million of mortgage loans sold resulting in a gain on sale of loans of $1.7 million, representing a 2.56% gain on sale as a percentage of total loans sold.

Windsor Advantage™

Gross government loan servicing revenue totaled $5.0 million, including $1.0 million of Capital Bank related servicing fees, during 4Q 2025. Gross government loan servicing revenue totaled $5.3 million, including $1.1 million of Capital Bank related servicing fees, during 3Q 2025. Windsor's™ total servicing portfolio was $3.1 billion at December 31, 2025, and $3.2 billion at September 30, 2025.


COMPARATIVE FINANCIAL HIGHLIGHTS - Unaudited

	Quarter Ended									4Q25 vs 3Q25				4Q25 vs 4Q24
(in thousands, except per share data)	December 31, 2025			September 30, 2025			December 31, 2024			$ Change		% Change		$ Change		% Change
Earnings Summary
Interest income	$	68,634		$	64,891		$	61,707		$	3,743	5.8	%	$	6,927	11.2	%
Interest expense	18,355			12,871			17,380			5,484		42.6	%	975		5.6	%
Net interest income	50,279			52,020			44,327			(1,741)		(3.3)	%	5,952		13.4	%
Provision for credit losses	3,988			4,650			7,828			(662)		(14.2)	%	(3,840)		(49.1)	%
(Release of) provision for credit losses on unfunded commitments	(29)			217			122			(246)		(113.4)	%	(151)		(123.8)	%
Noninterest income	12,464			11,068			11,913			1,396		12.6	%	551		4.6	%
Noninterest expense	39,103			38,354			37,514			749		2.0	%	1,589		4.2	%
Income before income taxes	19,681			19,867			10,776			(186)		(0.9)	%	8,905		82.6	%
Income tax expense	4,644			4,802			3,243			(158)		(3.3)	%	1,401		43.2	%
Net income	$	15,037		$	15,065		$	7,533		$	(28)	(0.2)	%	$	7,504	99.6	%

Pre-tax pre-provision net revenue ("PPNR") (1)	$	23,640		$	24,734		$	18,726		$	(1,094)	(4.4)	%	$	4,914	26.2	%
Core PPNR(1)	$	23,640		$	20,813		$	23,961		$	2,827	13.6	%	$	(321)	(1.3)	%

Common Share Data
Earnings per share - Basic	$	0.91		$	0.91		$	0.45		$	—	—	%	$	0.46	102.2	%
Earnings per share - Diluted	$	0.91		$	0.89		$	0.45		$	0.02	2.2	%	$	0.46	102.2	%
Core earnings per share - Diluted(1)	$	0.91		$	0.72		$	0.92		$	0.19	26.4	%	$	(0.01)	(1.1)	%
Weighted average common shares - Basic	16,493			16,586			16,595
Weighted average common shares - Diluted	16,493			16,844			16,729

Return Ratios
Return on average assets (annualized)	1.71		%	1.77		%	0.96		%
Core return on average assets (annualized)(1)	1.71		%	1.43		%	1.97		%

Return on average equity (annualized)	15.23		%	15.57		%	8.50		%
Core return on average equity (annualized)(1)	15.23		%	12.56		%	17.46		%
Return on average tangible common equity (annualized)(1)	17.23		%	17.49		%	9.33		%

Core return on average tangible common equity (annualized)(1)	17.23		%	14.15		%	18.91		%

______________

(1) Refer to Appendix for reconciliation of non-GAAP measures.


COMPARATIVE FINANCIAL HIGHLIGHTS - Unaudited (Continued)

	Year Ended
	December 31,
(in thousands, except per share data)	2025			2024			$ Change		% Change
Earnings Summary
Interest income	$	260,871		$	213,301		$	47,570	22.3	%
Interest expense	64,879			58,555			6,324		10.8	%
Net interest income	195,992			154,746			41,246		26.7	%
Provision for credit losses	14,965			17,720			(2,755)		(15.5)	%
(Release of) provision for credit losses on unfunded commitments	188			385			(197)		(51.2)	%
Noninterest income	49,187			31,410			17,777		56.6	%
Noninterest expense	155,082			126,219			28,863		22.9	%
Income before income taxes	74,944			41,832			33,112		79.2	%
Income tax expense	17,774			10,860			6,914		63.7	%
Net income	$	57,170		$	30,972		$	26,198	84.6	%

Pre-tax pre-provision net revenue ("PPNR") (1)	$	90,097		$	59,937		$	30,160	50.3	%
Core PPNR(1)	$	88,840		$	66,487		$	22,353	33.6	%

Common Share Data
Earnings per share - Basic	$	3.45		$	2.12		$	1.33	62.7	%
Earnings per share - Diluted	$	3.41		$	2.12		$	1.29	60.8	%
Core earnings per share - Diluted(1)	$	3.36		$	2.74
Weighted average common shares - Basic	16,582			14,584
Weighted average common shares - Diluted	16,768			14,640

Return Ratios
Return on average assets	1.71		%	1.21		%
Core return on average assets(1)	1.68		%	1.57		%

Return on average equity	15.13		%	10.78		%
Core return on average equity(1)	14.90		%	13.94		%
Return on average tangible common equity(1)	17.10		%	11.07		%
Core return on average tangible common equity(1)	16.84		%	14.30		%

______________

(1) Refer to Appendix for reconciliation of non-GAAP measures.


COMPARATIVE FINANCIAL HIGHLIGHTS - Unaudited (Continued)

	Quarter Ended						Quarter Ended
	December 31,						September 30,		June 30,		March 31,
(in thousands, except per share data)	2025		2024		% Change		2025		2025		2025
Balance Sheet Highlights
Assets	$	3,606,207	$	3,206,911	12.5	%	$	3,389,442	$	3,388,662	$	3,349,805
Investment securities available-for-sale	230,083		223,630		2.9	%	232,640		228,923		213,452
Mortgage loans held for sale	25,828		17,063		51.4	%	14,146		15,933		30,005
Portfolio loans receivable (2)	2,959,457		2,630,163		12.5	%	2,821,983		2,739,808		2,678,406
Allowance for credit losses	54,660		48,652		12.3	%	53,045		47,447		48,454
Goodwill	25,969		21,126		22.9	%	25,969		22,478		24,085
Intangible assets	13,246		14,072		(5.9)	%	13,457		13,668		13,861
Core deposit intangibles	1,525		1,745		(12.6)	%	1,576		1,627		1,695
Deposits	3,092,979		2,761,939		12.0	%	2,912,053		2,940,738		2,891,333
FHLB borrowings	50,000		22,000		127.3	%	22,000		22,000		22,000
Other borrowed funds	2,062		12,062		(82.9)	%	12,062		12,062		12,062
Total stockholders' equity	401,978		355,139		13.2	%	394,770		380,035		369,577
Tangible common equity (1)	361,238		318,196		13.5	%	353,768		342,262		329,936

Common shares outstanding	16,381		16,663		(1.7)	%	16,589		16,582		16,657
Book value per share	$	24.54	$	21.31	15.2	%	$	23.80	$	22.92	$	22.19
Tangible book value per share (1)	$	22.05	$	19.10	15.4	%	$	21.33	$	20.64	$	19.81
Dividends per share	$	0.12	$	0.10	20.0	%	$	0.12	$	0.10	$	0.10

______________

(1) Refer to Appendix for reconciliation of non-GAAP measures.

(2) Loans are reflected net of deferred fees and costs.


Consolidated Statements of Income (Unaudited)
	Three Months Ended										Year Ended
(in thousands)	December 31, 2025		September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		December 31, 2025		December 31, 2024
Interest income
Loans, including fees	$	64,933	$	60,838	$	60,810	$	58,691	$	58,602	$	245,272	$	202,915
Investment securities available-for-sale	1,728		1,805		1,582		1,861		1,539		6,976		5,441
Federal funds sold and other	1,973		2,248		2,194		2,208		1,566		8,623		4,945
Total interest income	68,634		64,891		64,586		62,760		61,707		260,871		213,301

Interest expense
Deposits	17,805		12,732		16,722		16,512		16,385		63,771		56,170
Borrowed funds	550		139		218		201		995		1,108		2,385
Total interest expense	18,355		12,871		16,940		16,713		17,380		64,879		58,555

Net interest income	50,279		52,020		47,646		46,047		44,327		195,992		154,746
Provision for credit losses	3,988		4,650		4,081		2,246		7,828		14,965		17,720
(Release of) provision for credit losses on unfunded commitments	(29)		217		—		—		122		188		385
Net interest income after provision for credit losses	46,320		47,153		43,565		43,801		36,377		180,839		136,641

Noninterest income
Service charges on deposits	371		425		262		258		241		1,316		883
Credit card fees	4,837		4,509		4,298		3,722		3,733		17,366		15,999
Mortgage banking revenue	1,960		1,927		1,754		1,831		1,821		7,472		7,146
Government lending revenue	—		14		3,112		1,096		2,301		4,222		2,301
Government loan servicing revenue	4,036		4,265		3,644		3,568		3,993		15,513		3,993
Loan servicing rights (government guaranteed)	295		368		(590)		472		1,013		545		1,013
Non-recurring equity and debt investment write-down	—		—		—		—		(2,620)		—		(2,620)


Other income	965		(440)		626		1,602		1,431		2,753		2,695
Total noninterest income	12,464		11,068		13,106		12,549		11,913		49,187		31,410

Noninterest expenses
Salaries and employee benefits	17,914		17,728		18,460		18,067		16,513		72,169		56,037
Occupancy and equipment	2,638		2,849		2,995		2,910		2,976		11,392		8,244
Professional fees	4,294		2,131		2,422		2,112		2,150		10,959		7,846
Data processing	7,502		7,654		7,520		7,112		7,210		29,788		27,689
Advertising	1,398		1,714		1,371		1,779		1,032		6,262		6,359
Loan processing	1,152		1,114		979		743		969		3,988		2,431
Foreclosed real estate expenses, net	—		—		—		1		—		1		2
Merger-related expenses	—		697		1,398		1,266		2,615		3,361		3,930
Operational and other card fraud related losses	750		923		933		903		993		3,509		3,714
Regulatory assessment expenses	858		740		884		889		554		3,371		1,937
Other operating	2,597		2,804		2,610		2,271		2,502		10,282		8,030
Total noninterest expenses	39,103		38,354		39,572		38,053		37,514		155,082		126,219
Income before income taxes	19,681		19,867		17,099		18,297		10,776		74,944		41,832
Income tax expense	4,644		4,802		3,963		4,365		3,243		17,774		10,860
Net income	$	15,037	$	15,065	$	13,136	$	13,932	$	7,533	$	57,170	$	30,972


Consolidated Balance Sheets
	(unaudited)		(unaudited)		(unaudited)		(unaudited)		(audited)
(in thousands, except share data)	December 31, 2025		September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024
Assets
Cash and due from banks	$	30,894	$	25,724	$	26,843	$	27,836	$	25,433
Interest-bearing deposits at other financial institutions	224,611		163,078		247,704		266,092		179,841
Federal funds sold	60		59		59		59		58
Total cash and cash equivalents	255,565		188,861		274,606		293,987		205,332
Investment securities available-for-sale	230,083		232,640		228,923		213,452		223,630

Restricted investments	8,397		7,057		7,043		7,031		4,479
Loans held for sale	25,828		14,146		15,933		30,005		17,063

Portfolio loans receivable, net of deferred fees and costs	2,959,457		2,821,983		2,739,808		2,678,406		2,630,163
Less allowance for credit losses	(54,660)		(53,045)		(47,447)		(48,454)		(48,652)
Total portfolio loans held for investment, net	2,904,797		2,768,938		2,692,361		2,629,952		2,581,511
Premises and equipment, net	15,072		15,304		14,863		15,085		15,525
Accrued interest receivable	16,695		19,011		15,149		19,458		16,664
Goodwill	25,969		25,969		22,478		24,085		21,126
Intangible assets	13,246		13,457		13,668		13,861		14,072
Core deposit intangibles	1,525		1,576		1,627		1,695		1,745
Loan servicing assets	1,816		2,070		2,221		2,244		5,511
Deferred tax asset	14,992		14,885		15,667		15,902		16,670


Bank owned life insurance	45,488		45,105		44,721		44,335		43,956

Other assets	46,734		40,423		39,402		38,713		39,627
Total assets	$	3,606,207	$	3,389,442	$	3,388,662	$	3,349,805	$	3,206,911

Liabilities
Deposits
Noninterest-bearing	$	852,520	$	857,543	$	836,979	$	812,224	$	810,928
Interest-bearing	2,240,459		2,054,510		2,103,759		2,079,109		1,951,011
Total deposits	3,092,979		2,912,053		2,940,738		2,891,333		2,761,939


Federal Home Loan Bank advances	50,000		22,000		22,000		22,000		22,000
Other borrowed funds	2,062		12,062		12,062		12,062		12,062
Accrued interest payable	8,745		8,045		8,158		9,995		9,393
Other liabilities	50,443		40,512		25,669		44,838		46,378
Total liabilities	3,204,229		2,994,672		3,008,627		2,980,228		2,851,772

Stockholders' equity

Common stock	164		166		166		167		167
Additional paid-in capital	120,913		127,359		126,888		128,692		128,598
Retained earnings	286,661		274,041		261,093		249,925		237,843
Accumulated other comprehensive loss	(5,760)		(6,796)		(8,112)		(9,207)		(11,469)
Total stockholders' equity	401,978		394,770		380,035		369,577		355,139
Total liabilities and stockholders' equity	$	3,606,207	$	3,389,442	$	3,388,662	$	3,349,805	$	3,206,911

The following tables show the average outstanding balance of each principal category of our assets, liabilities and stockholders’ equity, together with the average yields on our assets and the average costs of our liabilities for the periods indicated. Such yields and costs are calculated by dividing the annualized income or expense by the average daily balances of the corresponding assets or liabilities for the same period.


	Three Months Ended December 31, 2025						Three Months Ended September 30, 2025						Three Months Ended December 31, 2024
	Average Outstanding Balance		Interest Income/ Expense		Average Yield/ Rate(1)		Average Outstanding Balance		Interest Income/ Expense		Average Yield/ Rate(1)		Average Outstanding Balance		Interest Income/ Expense		Average Yield/ Rate(1)
	(in thousands)
Assets
Interest earning assets:
Interest-bearing deposits	$	196,281	$	1,868	3.78	%	$	194,858	$	2,139	4.36	%	$	140,206	$	1,446	4.10	%
Federal funds sold	60		1		6.61		59		1		5.79		58		—		—
Investment securities available-for-sale	238,295		1,728		2.88		241,086		1,805		2.97		236,951		1,539		2.58
Restricted investments	6,725		104		6.14		7,052		108		6.06		7,292		120		6.55
Loans held for sale	17,118		263		6.10		13,783		228		6.57		25,614		193		3.00
Portfolio loans receivable(2)(3)	2,902,033		64,670		8.84		2,789,815		60,610		8.62		2,592,960		58,409		8.96
Total interest earning assets	3,360,512		68,634		8.10		3,246,653		64,891		7.93		3,003,081		61,707		8.17
Noninterest earning assets	138,028						131,643						117,026
Total assets	$	3,498,540					$	3,378,296					$	3,120,107

Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand accounts	$	269,342	366		0.54		$	282,873	388		0.54		$	257,446	424		0.66
Savings	12,033		11		0.36		12,887		15		0.47		13,497		20		0.59
Money market accounts	1,061,293		9,124		3.41		985,106		8,650		3.48		763,526		7,131		3.72
Time deposits	812,186		8,304		4.06		815,302		3,679		1.79		847,618		8,810		4.13
Borrowed funds	46,497		550		4.69		34,062		139		1.62		97,116		995		4.08
Total interest-bearing liabilities	2,201,351		18,355		3.31		2,130,230		12,871		2.40		1,979,203		17,380		3.49
Noninterest-bearing liabilities:
Noninterest-bearing liabilities	67,509						43,245						58,460
Noninterest-bearing deposits	837,930						820,899						729,907
Stockholders’ equity	391,750						383,922						352,537
Total liabilities and stockholders’ equity	$	3,498,540					$	3,378,296					$	3,120,107

Net interest spread					4.79	%					5.53	%					4.68	%
Net interest income			$	50,279					$	52,020					$	44,327
Net interest margin(4)					5.94	%					6.36	%					5.87	%

_______________

(1)Annualized.

(2)Includes nonaccrual loans.

(3)For the three months ended December 31, 2025, September 30, 2025, and December 31, 2024, collectively, Commercial Bank Loan Yield was 6.95%, 6.74% and 6.98%, respectively.

(4)For the three months ended December 31, 2025, September 30, 2025, and December 31, 2024, collectively, Commercial Bank Net Interest Margin was 4.18%, 4.64% and 3.99%, respectively.


	Year Ended December 31,
	2025						2024
	Average Outstanding Balance		Interest Income/ Expense		Average Yield/ Rate		Average Outstanding Balance		Interest Income/ Expense		Average Yield/ Rate(1)
	(in thousands)
Assets
Interest earning assets:
Interest-bearing deposits	$	194,080	$	8,211	4.23	%	$	98,319	$	4,569	4.65	%
Federal funds sold	59		2		3.39		57		3		5.26
Investment securities available-for-sale	236,346		6,976		2.95		228,909		5,441		2.38
Restricted investments	6,648		410		6.17		5,563		373		6.71
Loans held for sale	12,576		892		7.09		12,121		569		4.69
Portfolio loans receivable(1)(2)	2,765,758		244,380		8.84		2,142,638		202,346		9.44
Total interest earning assets	3,215,467		260,871		8.11		2,487,607		213,301		8.57
Noninterest earning assets	133,207						66,442
Total assets	$	3,348,674					$	2,554,049

Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand accounts	$	269,224	$	1,513	0.56	%	$	221,437	$	1,003	0.45	%
Savings	12,789		60		0.47		6,732		27		0.40
Money market accounts	960,882		33,195		3.45		704,002		28,741		4.08
Time deposits	825,847		29,003		3.51		561,369		26,399		4.70
Borrowed funds	37,196		1,108		2.98		63,686		2,385		3.74
Total interest-bearing liabilities	2,105,938		64,879		3.08		1,557,226		58,555		3.76
Noninterest-bearing liabilities:
Noninterest-bearing liabilities	53,197						34,043
Noninterest-bearing deposits	811,798						675,360
Stockholders’ equity	377,741						287,420
Total liabilities and stockholders’ equity	$	3,348,674					$	2,554,049

Net interest spread					5.03	%					4.81	%
Net interest income			$	195,992					$	154,746
Net interest margin(3)					6.10	%					6.22	%

(1)Includes nonaccrual loans.

(2)For the years ended December 31, 2025 and 2024, collectively. Commercial Bank Loan Yield was 6.99% and 7.03%, respectively.

(3)For the years ended December 31, 2025 and 2024, collectively. Commercial Bank Net Interest Margin was 4.38% and 3.93%, respectively.

The Company’s reportable segments represent business units with discrete financial information whose results are regularly reviewed by management. The four segments include Commercial Banking, OpenSky™ (the Company’s credit card division), Windsor Advantage™ and Capital Bank Home Loans (the Company’s mortgage loan division).

Prior to March 31, 2025, the Company disclosed Corporate as a reportable segment. The Company has determined that what was previously deemed the Corporate reportable segment consists of other business activities that are associated with the Commercial Bank and are reflected in the tabular disclosures that follow. It should be noted that such restructuring of the tabular disclosure did not result in any changes to the Company's revenue and expense allocation methodology. The Company restructured prior period tabular disclosures to achieve appropriate comparability.

The following schedules reported internally for performance assessment by the chief operating decision maker presents financial information for each reportable segment for the periods indicated. Total assets are presented as of December 31, 2025, September 30, 2025, and December 31, 2024.


Segments
For the three months ended December 31, 2025
(in thousands)	Commercial Bank		OpenSky™		Windsor Advantage™		CBHL		Consolidated
Interest income	$	51,994	$	16,377	$	—	$	263	$	68,634
Interest expense	18,230		—		—		125		18,355
Net interest income	33,764		16,377		—		138		50,279
Provision for credit losses	2,715		1,273		—		—		3,988
Release of credit losses on unfunded commitments	(29)		—		—		—		(29)
Net interest income after provision	31,078		15,104		—		138		46,320
Noninterest income
Service charges on deposits	371		—		—		—		371
Credit card fees	—		4,837		—		—		4,837
Mortgage banking revenue	433		—		—		1,527		1,960
Government lending revenue	—		—		—		—		—
Government loan servicing revenue(1)	(952)		—		4,988		—		4,036
Loan servicing rights (government guaranteed)	295		—		—		—		295
Other income	698		10		—		257		965
Total noninterest income	845		4,847		4,988		1,784		12,464
Noninterest expenses
Salaries and employee benefits	11,071		3,038		2,425		1,380		17,914
Occupancy and equipment	1,773		688		40		137		2,638
Professional fees	3,047		947		53		247		4,294
Data processing	1,026		6,687		(165)		(46)		7,502
Advertising	608		634		(3)		159		1,398
Loan processing	101		475		163		413		1,152
Foreclosed real estate expenses, net	—		—		—		—		—
Merger-related expenses	—		—		—		—		—
Operational and other card fraud related losses	13		737		—		—		750
Regulatory assessment expenses	230		388		143		97		858
Other operating	639		966		763		229		2,597
Total noninterest expenses	18,508		14,560		3,419		2,616		39,103
Net income (loss) before taxes	$	13,415	$	5,391	$	1,569	$	(694)	$	19,681

Total assets	$	3,407,326	$	140,914	$	25,993	$	31,974	$	3,606,207

________________________

(1) Gross government loan servicing revenue totaled $5.0 million, including $1.0 million of servicing fees earned from the Commercial Bank by WindsorTM, for the three months ended December 31, 2025.


Segments
For the three months ended September 30, 2025
(in thousands)	Commercial Bank		OpenSky™		Windsor Advantage™		CBHL		Consolidated
Interest income(2)	$	49,035	$	15,628	$	—	$	228	$	64,891
Interest expense(3)	12,768		—		—		103		12,871
Net interest income	36,267		15,628		—		125		52,020
Provision for credit losses	1,852		2,798		—		—		4,650
Provision for credit losses on unfunded commitments	217		—		—		—		217
Net interest income after provision	34,198		12,830		—		125		47,153
Noninterest income
Service charges on deposits	425		—		—		—		425
Credit card fees	—		4,509		—		—		4,509
Mortgage banking revenue	315		—		—		1,612		1,927
Government lending revenue	14		—		—		—		14
Government loan servicing revenue(1)	(1,074)		—		5,339		—		4,265
Loan servicing rights (government guaranteed)	368		—		—		—		368
Other (loss) income	(557)		(33)		—		150		(440)
Total noninterest income	(509)		4,476		5,339		1,762		11,068
Noninterest expenses
Salaries and employee benefits	10,559		3,271		2,455		1,443		17,728
Occupancy and equipment	1,635		632		416		166		2,849
Professional fees	1,079		571		198		283		2,131
Data processing	350		7,154		97		53		7,654
Advertising	694		833		76		111		1,714
Loan processing	740		15		67		292		1,114
Foreclosed real estate expenses, net	—		—		—		—		—
Merger-related expenses	697		—		—		—		697
Operational and other card fraud related losses	—		923		—		—		923
Regulatory assessment expenses	788		(30)		(11)		(7)		740
Other operating	1,493		587		614		110		2,804
Total noninterest expenses	18,035		13,956		3,912		2,451		38,354
Net income (loss) before taxes	$	15,654	$	3,350	$	1,427	$	(564)	$	19,867

Total assets	$	3,213,222	$	134,422	$	21,743	$	20,055	$	3,389,442

________________________

(1) Gross government loan servicing revenue totaled $5.3 million, including $1.1 million of servicing fees earned from the Commercial Bank by WindsorTM, for the three months ended September 30, 2025

(2) Interest income of $52.0 million for the Commercial Bank includes the $1.3 million Interest Income Adjustment.

(3) Interest expense of $12.8 million for the Commercial Bank includes the $4.6 million Call of Brokered Time Deposits.


Segments
For the three months ended December 31, 2024
(in thousands)	Commercial Bank		OpenSky™		Windsor Advantage™		CBHL		Consolidated
Interest income	$	46,061	$	15,454	$	—	$	192	$	61,707
Interest expense	17,249		—		—		131		17,380
Net interest income	28,812		15,454		—		61		44,327
Provision for credit losses	6,651		1,177		—		—		7,828
Provision for credit losses on unfunded commitments	122		—		—		—		122
Net interest income after provision	22,039		14,277		—		61		36,377
Noninterest income
Service charges on deposits	241		—		—		—		241
Credit card fees	—		3,733		—		—		3,733
Mortgage banking revenue	284		—		—		1,537		1,821
Government lending revenue	2,301		—		—		—		2,301
Government loan servicing revenue(1)	(543)		—		4,536		—		3,993
Loan servicing rights (government guaranteed	1,013		—		—		—		1,013
Non-recurring equity and debt investment write-down	(2,620)		—		—		—		(2,620)
Other income	1,252		10		30		139		1,431
Total noninterest income	1,928		3,743		4,566		1,676		11,913
Noninterest expense
Salaries and employee benefits	10,383		2,985		1,662		1,483		16,513
Occupancy and equipment	1,655		617		537		167		2,976
Professional fees	914		845		123		268		2,150
Data processing	639		6,495		32		44		7,210
Advertising	767		79		106		80		1,032
Loan processing	754		14		3		198		969
Foreclosed real estate expenses, net	—		—		—		—		—
Merger-related expenses	2,615		—		—		—		2,615
Operational and other card fraud related losses	24		969		—		—		993
Regulatory assessment expenses	525		21		1		6		553
Other operating	1,596		570		206		131		2,503
Total noninterest expenses	19,872		12,595		2,670		2,377		37,514
Net income (loss) before taxes	$	4,095	$	5,425	$	1,896	$	(640)	$	10,776

Total assets	$	3,033,792	$	125,913	$	25,515	$	21,691	$	3,206,911

________________________

(1) Gross government loan servicing revenue totaled $4.5 million, including $0.5 million of servicing fees earned from the Commercial Bank by WindsorTM, for the three months ended December 31, 2024.


Segments
For the year ended December 31, 2025
(in thousands)	Commercial Bank		OpenSky™		Windsor Advantage™		CBHL		Consolidated
Interest income(3)	$	199,122	$	60,943	$	—	$	806	$	260,871
Interest expense(4)	64,503		—		—		376		64,879
Net interest income	134,619		60,943		—		430		195,992
Provision for credit losses	6,172		8,793		—		—		14,965
Release of credit losses on unfunded commitments	188		—		—		—		188
Net interest income after provision	128,259		52,150		—		430		180,839
Noninterest income
Service charges on deposits	1,316		—		—		—		1,316
Credit card fees	—		17,366		—		—		17,366
Mortgage banking revenue	1,476		—		—		5,996		7,472
Government lending revenue	4,222		—		—		—		4,222
Government loan servicing revenue(1)	(4,116)		—		19,629		—		15,513
Loan servicing rights (government guaranteed)(2)	545		—		—		—		545
Other income	1,913		13		—		827		2,753
Total noninterest income	5,356		17,379		19,629		6,823		49,187
Noninterest expenses
Salaries and employee benefits	43,346		13,057		9,795		5,971		72,169
Occupancy and equipment	6,888		2,381		1,535		588		11,392
Professional fees	6,849		2,661		442		1,007		10,959
Data processing	2,270		27,320		118		80		29,788
Advertising	2,815		2,811		212		424		6,262
Loan processing	1,968		533		291		1,196		3,988
Foreclosed real estate expenses, net	1		—		—		—		1
Merger-related expenses	3,361		—		—		—		3,361
Operational and other card fraud related losses	144		3,365		—		—		3,509
Regulatory assessment expenses	2,743		388		143		97		3,371
Other operating	5,357		2,407		1,985		533		10,282
Total noninterest expenses	75,742		54,923		14,521		9,896		155,082
Net income (loss) before taxes	$	57,873	$	14,606	$	5,108	$	(2,643)	$	74,944

Total assets	$	3,407,326	$	140,914	$	25,993	$	31,974	$	3,606,207

________________________

(1) Gross government loan servicing revenue totaled $19.6 million, including $4.1 million of servicing fees earned from the Commercial Bank by WindsorTM, for the year ended December 31, 2025.

(2) Loan servicing rights of $0.5 million for the Commercial Bank includes a $1.7 million fair value adjustment associated with the loan servicing portfolio.

(3) Interest income of $199.1 million for the Commercial Bank includes the $1.3 million Interest Income Adjustment.

(4) Interest expense of $64.5 million for the Commercial Bank includes the $4.6 million Call of Brokered Time Deposits.


Segments
For the year ended December 31, 2024
(in thousands)	Commercial Bank		OpenSky™		Windsor Advantage™		CBHL		Consolidated
Interest income	$	150,948	$	61,785	$	—	$	568	$	213,301
Interest expense	58,192		—		—		363		58,555
Net interest income	92,756		61,785		—		205		154,746
Provision for credit losses	10,391		7,329		—		—		17,720
Provision for credit losses on unfunded commitments	385		—		—		—		385
Net interest income after provision	81,980		54,456		—		205		136,641
Noninterest income
Service charges on deposits	883		—		—		—		883
Credit card fees	—		15,999		—		—		15,999
Mortgage banking revenue	1,072		—		—		6,074		7,146
Government lending revenue	2,301		—		—		—		2,301
Government loan servicing revenue(1)	(543)		—		4,536		—		3,993
Loan servicing rights (government guaranteed)	1,013		—		—		—		1,013
Non-recurring equity and debt investment write-down	(2,620)		—		—		—		(2,620)
Other income	1,932		123		30		610		2,695
Total noninterest income	4,038		16,122		4,566		6,684		31,410
Noninterest expenses
Salaries and employee benefits	36,229		12,156		1,662		5,990		56,037
Occupancy and equipment	5,085		2,035		537		587		8,244
Professional fees	3,575		3,183		123		965		7,846
Data processing	1,496		25,991		32		170		27,689
Advertising	1,982		3,944		106		327		6,359
Loan processing	1,517		59		3		852		2,431
Foreclosed real estate expenses, net	2		—		—		—		2
Merger-related expenses	3,930		—		—		—		3,930
Operational and other card fraud related losses	37		3,677		—		—		3,714
Regulatory assessment expenses	1,909		21		1		6		1,937
Other operating	5,165		2,179		206		480		8,030
Total noninterest expenses	60,927		53,245		2,670		9,377		126,219
Net income (loss) before taxes	$	25,091	$	17,333	$	1,896	$	(2,488)	$	41,832

Total assets	$	3,033,792	$	125,913	$	25,515	$	21,691	$	3,206,911

________________________

(1) Gross government loan servicing revenue totaled $4.5 million, including $0.5 million of servicing fees earned from the Commercial Bank by WindsorTM, for the year ended December 31, 2024.


HISTORICAL FINANCIAL HIGHLIGHTS - Unaudited
	Quarter Ended
(in thousands, except per share data)	December 31, 2025			September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024
Earnings:
Net income	$	15,037		$	15,065		$	13,136		$	13,932		$	7,533
Earnings per common share, diluted	0.91			0.89			0.78			0.82			0.45
Net interest margin	5.94		%	6.36		%	6.04		%	6.05		%	5.87		%
Commercial Bank net interest margin(2)	4.18		%	4.64		%	4.38		%	4.32		%	3.99		%
Return on average assets(1)	1.71		%	1.77		%	1.60		%	1.75		%	0.96		%
Return on average equity(1)	15.23		%	15.57		%	14.17		%	15.56		%	8.50		%
Efficiency ratio	62.32		%	60.79		%	65.14		%	64.94		%	66.70		%

Balance Sheet:
Total portfolio loans receivable, net deferred fees	$	2,959,457		$	2,821,983		$	2,739,808		$	2,678,406		$	2,630,163
Total deposits	3,092,979			2,912,053			2,940,738			2,891,333			2,761,939
Total assets	3,606,207			3,389,442			3,388,662			3,349,805			3,206,911
Total stockholders' equity	401,978			394,770			380,035			369,577			355,139
Total average portfolio loans receivable, net deferred fees	2,902,033			2,789,815			2,733,865			2,634,110			2,592,960
Total average deposits	2,992,784			2,917,067			2,841,153			2,768,284			2,611,994
Portfolio loans-to-deposit ratio (period-end balances)	95.68		%	96.91		%	93.17		%	92.64		%	95.23		%
Portfolio loans-to-deposit ratio (average balances)	96.97		%	95.64		%	96.22		%	95.15		%	99.27		%

Asset Quality Ratios:
Nonperforming assets to total assets	1.62		%	1.54		%	1.07		%	1.28		%	0.94		%
Nonperforming loans to total loans	1.84		%	1.85		%	1.32		%	1.60		%	1.15		%

Net charge-offs to average portfolio loans (1)	0.32		%	0.35		%	0.75		%	0.38		%	0.37		%

Allowance for credit losses to total loans	1.85		%	1.88		%	1.73		%	1.81		%	1.85		%

Allowance for credit losses to non-performing loans	100.44		%	101.53		%	131.19		%	112.86		%	160.88		%

Bank Capital Ratios:
Total risk based capital ratio	12.60		%	12.95		%	13.13		%	12.93		%	12.79		%
Tier-1 risk based capital ratio	11.34		%	11.69		%	11.87		%	11.67		%	11.54		%
Leverage ratio	9.24		%	9.34		%	9.39		%	9.27		%	9.17		%
Common Equity Tier-1 capital ratio	11.34		%	11.69		%	11.87		%	11.67		%	11.54		%
Tangible common equity	8.75		%	9.06		%	8.84		%	8.66		%	9.31		%

Holding Company Capital Ratios:
Total risk based capital ratio	14.31		%	15.25		%	15.30		%	14.97		%	15.48		%
Tier-1 risk based capital ratio	13.05		%	13.62		%	13.66		%	13.32		%	13.83		%
Leverage ratio	10.72		%	10.98		%	10.90		%	10.68		%	11.07		%
Common Equity Tier-1 capital ratio	12.98		%	13.54		%	13.58		%	13.24		%	13.74		%
Tangible common equity	10.08		%	10.60		%	10.22		%	9.94		%	11.07		%

_______________

(1)Annualized.

(2)Refer to Appendix for reconciliation of non-GAAP measures.


HISTORICAL FINANCIAL HIGHLIGHTS - Unaudited (Continued)
	Quarter Ended
(in thousands, except per share data)	December 31, 2025			September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024
Composition of Loans:

Commercial real estate, non owner-occupied	$	533,141		$	509,878		$	495,341		$	484,399		$	471,329
Commercial real estate, owner-occupied	418,701			442,827			436,421			420,643			440,026
Residential real estate	765,808			740,060			710,730			693,597			688,552
Construction real estate	359,566			344,290			343,189			343,280			321,252
Commercial and industrial	698,289			619,148			593,279			594,331			554,550
Lender finance	41,421			31,883			32,494			23,165			28,574
Business equity lines of credit	3,818			2,931			2,853			3,468			3,090
Credit card, net of reserve(3)	142,397			136,483			131,029			118,709			127,766
Other consumer loans	1,930			2,010			2,727			2,200			2,089
Portfolio loans receivable	$	2,965,071		$	2,829,510		$	2,748,063		$	2,683,792		$	2,637,228
Deferred origination fees, net	(5,614)			(7,527)			(8,255)			(5,386)			(7,065)
Portfolio loans receivable, net	$	2,959,457		$	2,821,983		$	2,739,808		$	2,678,406		$	2,630,163

Composition of Deposits:
Noninterest-bearing	$	852,520		$	857,543		$	836,979		$	812,224		$	810,928
Interest-bearing demand	257,233			275,767			319,431			296,455			238,881
Savings	11,679			12,835			12,879			12,819			13,488
Money markets	1,105,183			989,159			960,237			912,418			816,708
Customer time deposits	489,687			539,207			541,079			549,630			548,901
Brokered time deposits	376,677			237,542			270,133			307,787			333,033
Total deposits	$	3,092,979		$	2,912,053		$	2,940,738		$	2,891,333		$	2,761,939

Capital Bank Home Loan Metrics:
Origination of loans held for sale	$	107,283		$	80,651		$	80,334		$	65,815		$	89,998
Mortgage loans sold	82,998			66,409			59,663			54,144			77,399
Gain on sale of loans	2,145			1,698			1,597			1,664			1,897
Purchase volume as a % of originations	72.77		%	92.32		%	91.61		%	90.73		%	90.42		%
Gain on sale as a % of loans sold(4)	2.58		%	2.56		%	2.68		%	3.07		%	2.45		%
Mortgage commissions	$	899		$	656		$	501		$	545		$	620

OpenSky™ Portfolio Metrics:
Open customer accounts	585,492			587,641			585,372			563,718			552,566
Secured credit card loans, gross	$	83,065		$	84,737		$	86,400		$	81,252		$	87,226
Unsecured credit card loans, gross	61,378			53,633			46,352			38,987			42,430
Noninterest secured credit card deposits	163,184			166,874			168,936			168,796			166,355

_______________

(3)Credit card loans are presented net of reserve for interest and fees.

(4)Gain on sale percentage is calculated as gain on sale of loans divided by mortgage loans sold.

Appendix

Reconciliation of Non-GAAP Measures

The Company has presented the following non-GAAP (U.S. Generally Accepted Accounting Principles) financial measures because it believes that these measures provide useful and comparative information to assess trends in the Company’s results of operations and financial condition. Presentation of these non-GAAP financial measures is consistent with how the Company evaluates its performance internally and these non-GAAP financial measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in the Company’s industry. Investors should recognize that the Company’s presentation of these non-GAAP financial measures might not be comparable to similarly-titled measures of other companies. These non-GAAP financial measures should not be considered a substitute for GAAP basis measures and the Company strongly encourages a review of its condensed consolidated financial statements in their entirety.

Appendix

Reconciliation of Non-GAAP Measures


Core Earnings Metrics	Quarter Ended
(in thousands, except per share data)	December 31, 2025			September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024

Net Income	$	15,037		$	15,065		$	13,136		$	13,932		$	7,533
Deduct: Income from the Call of Brokered Time Deposits, Net of Tax	—			(3,489)			—			—			—
Add: Merger-Related Expenses, Net of Tax	—			575			1,070			964			2,151
Add: Non-Recurring Equity and Debt Investment Write-Down	—			—			—			—			2,620
Add: IFH ACL Provision, Net of Tax	—			—			—			—			3,169
Core Net Income	$	15,037		$	12,151		$	14,206		$	14,896		$	15,473

Weighted Average Common Shares - Diluted	16,493			16,844			16,802			16,925			16,729
Earnings per Share - Diluted	$	0.91		$	0.89		$	0.78		$	0.82		$	0.45
Core Earnings per Share - Diluted	$	0.91		$	0.72		$	0.85		$	0.88		$	0.92

Average Assets	$	3,498,540		$	3,378,296		$	3,292,533		$	3,221,964		$	3,120,107
Return on Average Assets(1)	1.71		%	1.77		%	1.60		%	1.75		%	0.96		%
Core Return on Average Assets(1)	1.71		%	1.43		%	1.73		%	1.87		%	1.97		%

Average Equity	$	391,750		$	383,922		$	371,795		$	363,115		$	352,537
Return on Average Equity(1)	15.23		%	15.57		%	14.17		%	15.56		%	8.50		%
Core Return on Average Equity(1)	15.23		%	12.56		%	15.33		%	16.64		%	17.46		%

Net Interest Income	$	50,279		$	52,020		$	47,646		$	46,047		$	44,327
Noninterest Income	12,464			11,068			13,106			12,549			11,913
Total Revenue	$	62,743		$	63,088		$	60,752		$	58,596		$	56,240
Noninterest Expense	39,103			38,354			39,572			38,053			37,514
Efficiency Ratio(2)	62.3		%	60.8		%	65.1		%	64.9		%	66.7		%

Net Interest Income	$	50,279		$	52,020		$	47,646		$	46,047		$	44,327
Less: Brokered Time Deposit Call	—			4,618			—			—			—
Core Net Interest Income (a)	$	50,279		$	47,402		$	47,646		$	46,047		$	44,327
Noninterest Income	12,464			11,068			13,106			12,549			11,913
Add: Non-Recurring Equity and Debt Investment Write-Down	—			—			—			—			2,620
Core Fee Revenue (b)	$	12,464		$	11,068		$	13,106		$	12,549		$	14,533
Core Revenue (a) + (b)	$	62,743		$	58,470		$	60,752		$	58,596		$	58,860

Noninterest Expense	$	39,103		$	38,354		$	39,572		$	38,053		$	37,514
Less: Merger-Related Expenses	—			697			1,398			1,266			2,615
Core Noninterest Expense	$	39,103		$	37,657		$	38,174		$	36,787		$	34,899
Core Efficiency Ratio(2)	62.3		%	64.4		%	62.8		%	62.8		%	59.3		%

_______________

(1)Annualized.

(2)The efficiency ratio is calculated by dividing noninterest expense by total revenue (net interest income plus noninterest income).

Appendix

Reconciliation of Non-GAAP Measures


Core Earnings Metrics	Year Ended
(in thousands, except per share data)	December 31, 2025			December 31, 2024

Net Income	$	57,170		$	30,972
Deduct: Income from the Call of Brokered Time Deposits, Net of Tax	(3,489)			—
Add: Merger-Related Expenses, Net of Tax	2,609			3,308
Add: Non-Recurring Equity and Debt Investment Write-Down	—			2,620
Add: IFH ACL Provision, Net of Tax	—			3,169
Core Net Income	$	56,290		$	40,069

Weighted Average Common Shares - Diluted	16,768			14,640
Earnings per Share - Diluted	$	3.41		$	2.12
Core Earnings per Share - Diluted	$	3.36		$	2.74

Average Assets	$	3,348,674		$	2,554,049
Return on Average Assets	1.71		%	1.21		%
Core Return on Average Assets	1.68		%	1.57		%

Average Equity	$	377,741		$	287,420
Return on Average Equity	15.13		%	10.78		%
Core Return on Average Equity	14.90		%	13.94		%

Net Interest Income	$	195,992		$	154,746
Noninterest Income	49,187			31,410
Total Revenue	$	245,179		$	186,156
Noninterest Expense	155,082			126,219
Efficiency Ratio(1)	63.3		%	67.8		%

Net Interest Income	$	195,992		$	154,746
Less: Brokered Time Deposit Call	4,618			—
Core Net Interest Income (a)	$	191,374		$	154,746
Noninterest Income	49,187			31,410
Add: Non-Recurring Equity and Debt Investment Write-Down	—			2,620
Core Fee Revenue (b)	$	49,187		$	34,030
Core Revenue (a) + (b)	$	240,561		$	188,776

Noninterest Expense	$	155,082		$	126,219
Less: Merger-Related Expenses	3,361			3,930
Core Noninterest Expense	$	151,721		$	122,289
Core Efficiency Ratio(1)	63.1		%	64.8		%

_______________

(1)The efficiency ratio is calculated by dividing noninterest expense by total revenue (net interest income plus noninterest income).

Appendix

Reconciliation of Non-GAAP Measures


Commercial Bank Net Interest Margin	Quarter Ended
(in thousands)	December 31, 2025		September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024

Commercial Bank Net Interest Income	$	33,764	$	36,267	$	33,073	$	31,515	$	28,812
Average Interest Earning Assets	3,360,576		3,246,653		3,163,421		3,087,943		3,003,081
Less: Average Non-Commercial Bank Interest Earning Assets	152,715		144,558		132,196		128,278		133,401
Average Commercial Bank Interest Earning Assets	$	3,207,861	$	3,102,095	$	3,031,225	$	2,959,665	$	2,869,680
Commercial Bank Net Interest Margin	4.18%		4.64%		4.38%		4.32%		3.99%



Commercial Bank Net Interest Margin	Year Ended
(in thousands)	December 31, 2025		December 31, 2024

Commercial Bank Net Interest Income	$	134,619	$	92,756
Average Interest Earning Assets	3,215,483		2,487,607
Less: Average Non-Commercial Bank Interest Earning Assets	139,344		124,863
Average Commercial Bank Interest Earning Assets	$	3,076,139	$	2,362,744
Commercial Bank Net Interest Margin	4.38%		3.93%


Commercial Bank Portfolio Loans Receivable Yield	Quarter Ended
(in thousands)	December 31, 2025		September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024

Portfolio Loans Receivable Interest Income	$	64,670	$	60,610	$	60,647	$	58,453	$	58,409
Less: Credit Card Loan Income	16,197		15,387		14,116		14,148		15,022
Commercial Bank Portfolio Loans Receivable Interest Income	$	48,473	$	45,223	$	46,531	$	44,305	$	43,387
Average Portfolio Loans Receivable	2,902,033		2,789,815		2,733,865		2,634,110		2,592,960
Less: Average Credit Card Loans	133,858		129,100		121,414		118,723		120,993
Total Commercial Bank Average Portfolio Loans Receivable	$	2,768,175	$	2,660,715	$	2,612,451	$	2,515,387	$	2,471,967
Commercial Bank Portfolio Loans Receivable Yield	6.95%		6.74%		7.14%		7.14%		6.98%



Commercial Bank Portfolio Loans Receivable Yield	Year Ended
(in thousands)	December 31, 2025		December 31, 2024

Portfolio Loans Receivable Interest Income	$	244,380	$	202,346
Less: Credit Card Loan Income	59,848		59,821
Commercial Bank Portfolio Loans Receivable Interest Income	$	184,532	$	142,525
Average Portfolio Loans Receivable	2,765,758		2,142,638
Less: Average Credit Card Loans	125,824		115,581
Total Commercial Bank Average Portfolio Loans Receivable	$	2,639,934	$	2,027,057
Commercial Bank Portfolio Loans Receivable Yield	6.99%		7.03%

Appendix

Reconciliation of Non-GAAP Measures


Pre-tax, Pre-Provision Net Revenue ("PPNR")	Quarter Ended
(in thousands)	December 31, 2025		September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024

Net Income	$	15,037	$	15,065	$	13,136	$	13,932	$	7,533
Add: Income Tax Expense	4,644		4,802		3,963		4,365		3,243
Add: Provision for Credit Losses	3,988		4,650		4,081		2,246		7,828
Add: (Release of) Provision for Credit Losses on Unfunded Commitments	(29)		217		—		—		122
Pre-tax, Pre-Provision Net Revenue ("PPNR")	$	23,640	$	24,734	$	21,180	$	20,543	$	18,726



Pre-tax, Pre-Provision Net Revenue ("PPNR")	Year Ended
(in thousands)	December 31, 2025		December 31, 2024

Net Income	$	57,170	$	30,972
Add: Income Tax Expense	17,774		10,860
Add: Provision for Credit Losses	14,965		17,720
Add: (Release of) Provision for Credit Losses on Unfunded Commitments	188		385
Pre-tax, Pre-Provision Net Revenue ("PPNR")	$	90,097	$	59,937


Core PPNR	Quarter Ended
(in thousands)	December 31, 2025		September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024

Net Income	$	15,037	$	15,065	$	13,136	$	13,932	$	7,533
Add: Income Tax Expense	4,644		4,802		3,963		4,365		3,243
Add: Provision for Credit Losses	3,988		4,650		4,081		2,246		7,828
Add: (Release of) Provision for Credit Losses on Unfunded Commitments	(29)		217		—		—		122
Deduct: Income from the Call of Brokered Time Deposits	—		(4,618)		—		—		—
Add: Merger-Related Expenses	—		697		1,398		1,266		2,615
Add: Non-Recurring Equity and Debt Investment Write-Down	—		—		—		—		2,620
Core PPNR	$	23,640	$	20,813	$	22,578	$	21,809	$	23,961



Core PPNR	Year Ended
(in thousands)	December 31, 2025		December 31, 2024

Net Income	$	57,170	$	30,972
Add: Income Tax Expense	17,774		10,860
Add: Provision for Credit Losses	14,965		17,720
Add: (Release of) Provision for Credit Losses on Unfunded Commitments	188		385
Deduct: Income from the Call of Brokered Time Deposits	(4,618)		—
Add: Merger-Related Expenses	3,361		3,930
Add: Non-Recurring Equity and Debt Investment Write-Down	—		2,620
Core PPNR	$	88,840	$	66,487

Appendix

Reconciliation of Non-GAAP Measures


Allowance for Credit Losses to Total Portfolio Loans	Quarter Ended
(in thousands)	December 31, 2025		September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024

Allowance for Credit Losses	$	54,660	$	53,045	$	47,447	$	48,454	$	48,652
Total Portfolio Loans	2,959,457		2,821,983		2,739,808		2,678,406		2,630,163
Allowance for Credit Losses to Total Portfolio Loans	1.85%		1.88%		1.73%		1.81%		1.85%


Commercial Bank Allowance for Credit Losses to Commercial Bank Portfolio Loans	Quarter Ended
(in thousands)	December 31, 2025		September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024

Allowance for Credit Losses	$	54,660	$	53,045	$	47,447	$	48,454	$	48,652
Less: Credit Card Allowance for Credit Losses	8,232		7,413		6,762		5,905		6,402
Commercial Bank Allowance for Credit Losses	46,428		45,632		40,685		42,549		42,250
Total Portfolio Loans	2,959,457		2,821,983		2,739,808		2,678,406		2,630,163
Less: Gross Credit Card Loans	137,905		130,897		126,233		115,991		122,928
Commercial Bank Portfolio Loans	2,821,552		2,691,086		2,613,575		2,562,415		2,507,235
Commercial Bank Allowance for Credit Losses to Total Portfolio Loans	1.65%		1.70%		1.56%		1.67%		1.70%


Nonperforming Assets to Total Assets	Quarter Ended
(in thousands)	December 31, 2025		September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024

Total Nonperforming Assets	$	58,276	$	52,247	$	36,167	$	42,934	$	30,241
Total Assets	3,606,207		3,389,442		3,388,662		3,349,805		3,206,911
Nonperforming Assets to Total Assets	1.62%		1.54%		1.07%		1.28%		0.94%


Nonperforming Loans to Total Portfolio Loans	Quarter Ended
(in thousands)	December 31, 2025		September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024

Total Nonperforming Loans	$	54,421	$	52,247	$	36,167	$	42,934	$	30,241
Total Portfolio Loans	2,959,457		2,821,983		2,739,808		2,678,406		2,630,163
Nonperforming Loans to Total Portfolio Loans	1.84%		1.85%		1.32%		1.60%		1.15%


Net Charge-Offs to Average Portfolio Loans	Quarter Ended
(in thousands)	December 31, 2025		September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024

Total Net Charge-Offs	$	2,373	$	2,476	$	5,088	$	2,444	$	2,427
Total Average Portfolio Loans	2,902,033		2,789,815		2,733,865		2,634,110		2,592,960
Net Charge-Offs to Average Portfolio Loans, Annualized	0.32%		0.35%		0.75%		0.38%		0.37%

Appendix

Reconciliation of Non-GAAP Measures


Tangible Book Value per Share	Quarter Ended
(in thousands, except share and per share data)	December 31, 2025		September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024

Total Stockholders' Equity	$	401,978	$	394,770	$	380,035	$	369,577	$	355,139
Less: Preferred Equity	—		—		—		—		—
Less: Intangible Assets	40,740		41,002		37,773		39,641		36,943
Tangible Common Equity	$	361,238	$	353,768	$	342,262	$	329,936	$	318,196
Period End Shares Outstanding	16,381,088		16,589,241		16,581,990		16,657,168		16,662,626
Tangible Book Value per Share	$	22.05	$	21.33	$	20.64	$	19.81	$	19.10


Return on Average Tangible Common Equity	Quarter Ended
(in thousands)	December 31, 2025			September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024

Net Income	$	15,037		$	15,065		$	13,136		$	13,932		$	7,533
Add: Intangible Amortization, Net of Tax	200			199			200			199			198
Net Tangible Income	$	15,237		$	15,264		$	13,336		$	14,131		$	7,731
Average Equity	391,750			383,922			371,795			363,115			352,537
Less: Average Intangible Assets	40,884			37,706			39,534			36,896			22,890
Net Average Tangible Common Equity	$	350,866		$	346,216		$	332,261		$	326,219		$	329,647
Return on Average Equity	15.23		%	15.57		%	14.17		%	15.56		%	8.50		%
Return on Average Tangible Common Equity	17.23		%	17.49		%	16.10		%	17.57		%	9.33		%


Return on Average Tangible Common Equity	Year Ended
(in thousands)	December 31, 2025			December 31, 2024

Net Income	$	57,170		$	30,972
Add: Intangible Amortization, Net of Tax	798			198
Net Tangible Income	$	57,968		$	31,170
Average Equity	377,741			287,420
Less: Average Intangible Assets	38,763			5,754
Net Average Tangible Common Equity	$	338,978		$	281,666
Return on Average Equity	15.13		%	10.78		%
Return on Average Tangible Common Equity	17.10		%	11.07		%


Core Return on Average Tangible Common Equity	Quarter Ended
(in thousands)	December 31, 2025			September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024

Core Net Income	$	15,037		$	12,151		$	14,206		$	14,896		$	15,473
Add: Intangible Amortization, Net of Tax	200			199			200			199			198
Core Net Tangible Income	$	15,237		$	12,350		$	14,406		$	15,095		$	15,671

Core Return on Average Tangible Common Equity	17.23		%	14.15		%	17.39		%	18.77		%	18.91		%


Core Return on Average Tangible Common Equity	Year Ended
(in thousands)	December 31, 2025			December 31, 2024

Core Net Income	$	56,290		$	40,069
Add: Intangible Amortization, Net of Tax	798			198
Core Net Tangible Income	$	57,088		$	40,267

Core Return on Average Tangible Common Equity	16.84		%	14.30		%

ABOUT CAPITAL BANCORP, INC.

Capital Bancorp, Inc., Rockville, Maryland is a registered bank holding company incorporated under the laws of Maryland. Capital Bancorp has been providing financial services since 1999 and now operates bank branches in four locations in the Washington, D.C., Baltimore, other Maryland markets, one bank branch in Fort Lauderdale, Florida, one bank branch in Chicago, Illinois and one bank branch in Raleigh, North Carolina. Capital Bancorp had assets of approximately $3.6 billion at December 31, 2025 and its common stock is traded in the NASDAQ Global Market under the symbol “CBNK.” More information can be found at the Company's website www.CapitalBankMD.com under its investor relations page.

FORWARD-LOOKING STATEMENTS

This earnings release contains forward-looking statements. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. Any statements about our management’s expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as “anticipate,” “believes,” “can,” “could,” “may,” “predicts,” “potential,” “should,” “will,” “estimate,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” "optimistic," “intends” and similar words or phrases. Any or all of the forward-looking statements in this earnings release may turn out to be inaccurate. The inclusion of forward-looking information in this earnings release should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Our actual results could differ materially from those anticipated in such forward-looking statements. Accordingly, we caution you that any such forward-looking statements are not a guarantee of future performance and that actual results may prove to be materially different from the results expressed or implied by the forward-looking statements due to a number of factors. For details on some of the factors that could affect these expectations, see risk factors and other cautionary language included in the Company's Annual Report on Form 10-K and other periodic and current reports filed with the Securities and Exchange Commission.

While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward-looking statements: the strength of the United States (“U.S.”) economy in general and the strength of the local economies in

which we conduct operations; geopolitical concerns, including acts or threats of terrorism and the ongoing war in Ukraine; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Board of Governors of the Federal Reserve System; inflation, interest rate, market, and monetary fluctuations; volatility and disruptions in global capital and credit markets; changes in U.S. trade policies, including the implementation of tariffs and other protectionist trade policies; the effects of federal government shutdowns, debt ceiling standoff, or other fiscal policy uncertainty; competitive pressures on product pricing and services; success, impact, and timing of our business strategies, including market acceptance of any new products or services; the impact of changes in financial services policies, laws, and regulations, including those concerning taxes, banking, securities, and insurance, and the application thereof by regulatory bodies; cybersecurity threats and the cost of defending against them; climate change, and other catastrophic disasters; the effectiveness of the Company's internal control over financial reporting and disclosure controls and procedures; the effect of the IFH acquisition or any other acquisitions we have made or may make, including, without limitation, the failure to achieve the expected revenue growth and/or expense savings from such acquisitions, and/or the failure to effectively integrate an acquisition target into our operations, including the planned growth of Windsor AdvantageTM; and other factors that may affect our future results.

These forward-looking statements are made as of the date of this communication, and the Company does not intend, and assumes no obligation, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events or circumstances, except as required by law.

FINANCIAL CONTACT: Jake Dalaya (301) 637-5118

MEDIA CONTACT: Ed Barry (240) 283-1912

WEB SITE: www.CapitalBankMD.com

4Q 2025 Investor Overview

Forward Looking Statements This earnings release contains forward-looking statements. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. Any statements about our management’s expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as “anticipate,” “believes,” “can,” “could,” “may,” “predicts,” “potential,” “should,” “will,” “estimate,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” "optimistic," “intends” and similar words or phrases. Any or all of the forward-looking statements in this earnings release may turn out to be inaccurate. The inclusion of forward-looking information in this earnings release should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. We have based these forward- looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Our actual results could differ materially from those anticipated in such forward-looking statements. Accordingly, we caution you that any such forward-looking statements are not a guarantee of future performance and that actual results may prove to be materially different from the results expressed or implied by the forward-looking statements due to a number of factors. For details on some of the factors that could affect these expectations, see risk factors and other cautionary language included in the Company's Annual Report on Form 10-K and other periodic and current reports filed with the Securities and Exchange Commission. While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward-looking statements: the strength of the United States (“U.S.”) economy in general and the strength of the local economies in which we conduct operations; geopolitical concerns, including acts or threats of terrorism and the ongoing war in Ukraine; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Board of Governors of the Federal Reserve System; inflation, interest rate, market, and monetary fluctuations; volatility and disruptions in global capital and credit markets; changes in U.S. trade policies, including the implementation of tariffs and other protectionist trade policies; the effects of federal government shutdowns, debt ceiling standoff, or other fiscal policy uncertainty; competitive pressures on product pricing and services; success, impact, and timing of our business strategies, including market acceptance of any new products or services; the impact of changes in financial services policies, laws, and regulations, including those concerning taxes, banking, securities, and insurance, and the application thereof by regulatory bodies; cybersecurity threats and the cost of defending against them; climate change, and other catastrophic disasters; the effectiveness of the Company's internal control over financial reporting and disclosure controls and procedures; the effect of the IFH acquisition or any other acquisitions we have made or may make, including, without limitation, the failure to achieve the expected revenue growth and/or expense savings from such acquisitions, and/or the failure to effectively integrate an acquisition target into our operations, including the planned growth of Windsor AdvantageTM; and other factors that may affect our future results. Except as otherwise indicated, this presentation speaks as of the date hereof. The delivery of this presentation shall not, under any circumstances, create any implication that there has been no change in the affairs of Capital after the date hereof. Certain of the information contained herein may be derived from information provided by industry sources. The Company believes that such information is accurate and that the sources from which it has been obtained are reliable. Capital cannot guarantee the accuracy of such information, however, and has not independently verified such information. While Capital is not aware of any misstatements regarding the industry data presented in this presentation, Capital's estimates involve risks and uncertainties and are subject to change based on various factors. Similarly, Capital believes that its internal research is reliable, even though such research has not been verified by independent sources. Non-U.S. GAAP Financial Measures This presentation may include certain non–U.S. generally accepted accounting principles ("GAAP") financial measures intended to supplement, not substitute for, comparable GAAP measures. These non-GAAP financial measures should not be considered in isolation, and should be considered as additions to, and not substitutes for or superior to, measures of financial performance prepared in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures versus their nearest GAAP equivalents. For example, other companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of the Company's non-GAAP financial measures as tools for comparison. If included in this presentation, see the Appendix to this presentation for a reconciliation of the non-GAAP financial measures used in (or conveyed orally during) this presentation to their most directly comparable GAAP financial measures. Core Financial Measures As used in this presentation, core net income, core fee revenue, core ROA, core ROE, ROTCE, core ROTCE, Commercial Bank NIM, Commercial Bank Loan Yield, Commercial Bank ACL Coverage Ratio, and Tangible Book Value are non-GAAP financial measures. These non-GAAP financial metrics exclude the impact of income from the call of brokered time deposits, merger-related expenses and other pre-tax adjustments which are not indicative of operating performance and tax impacts of such adjustments. Reconciliations of these and other non-GAAP measures to their comparable GAAP measures are set forth in the Appendix to this presentation. 2

Fourth Quarter and Full Year Highlights (1) Performance metrics are annualized throughout this presentation (2) Refer to Appendix for reconciliation of non-GAAP measures (3) Excluding the Call from Brokered Time Deposits, Commercial Bank NIM for FY25 was 4.27%  Loan growth of $137.5mm, 19.3% annualized  Deposit growth of $180.9mm, 24.6% annualized  NIM of 5.94%; Commercial Bank NIM of 4.18%  ROA of 1.71%; ROTCE of 17.23%  TBV of $22.05, an increase of 13.4% annualized Highlights  Loan growth of $329.3mm, or 12.5%  Deposit growth of $331.0mm, or 12.0%  NIM of 6.10%; Commercial Bank NIM(3) of 4.38%  ROA of 1.71%; ROTCE of 17.10%  Tangible Book Value of $22.05, an increase of 15.4% from Q4 2024  Successfully completed the integration of IFH Net Income $15.0mm Annualized Loan Growth 19.3% Annualized Deposit Growth 24.6% ROAA 1.71% ROTCE 17.23% Net Income $57.2mm Loan Growth 12.5% Deposit Growth 12.0% ROAA 1.71% ROTCE 17.10% Q4 2025 Q4 2025 FY 2025 FY 2025

Capital Bancorp, Inc. (NASDAQ-CBNK) Financial Highlights Corporate Timeline Founded as Harbor Capital National Bank Recapitalized by investor group led by Stephen Ashman Acquired three failed institutions including OpenSky® CEO Ed Barry joined Capital Bank Assets exceed $1 billion Successful IPO and inclusion in R2000 OpenSky® accounts exceed 168,000 1999 2002 2011 2012 2017 2018 Originated $371 million SBA-PPP loans (2020 & 2021) 2020 Assets exceed $2 billion OpenSky® accounts exceed 700,000 Dividend initiated 2021 (1) Performance metrics are annualized throughout this presentation (2) Refer to Appendix for reconciliation of non-GAAP measures Assets exceed $3.2 billion Capital Bank completes acquisition of IFH 2024 4 (in millions except per share data) Balance Sheet 4Q25 3Q25 Annualized 4Q24 YoY Assets $ 3,606 $ 3,389 25.4% $ 3,207 12.50% Portfolio Loans 2,959 2,822 19.3% 2,630 12.50% Deposits 3,093 2,912 24.6% 2,762 12.00% Quarterly Financial Performance(1) 4Q25 3Q25 QoQ 4Q24 YoY Earnings per Share, Diluted 0.91$ 0.89$ 1.40% 0.45$ 101.40% Core Earnings per Share, Diluted(2) 0.91$ 0.72$ 25.80% 0.92$ -1.40% Book Value per Share 24.54$ 23.80$ 3.10% 21.31$ 15.20% Tangible Book Value per Share(2) 22.05$ 21.33$ 3.4% 19.10$ 15.50% Return on Average Assets (“ROA”) 1.71% 1.77% -6 bps 0.96% 75 bps Core ROA(2) 1.71% 1.43% 28 bps 1.97% -26 bps Return on Average Tangible Common Equity (“ROTCE”)(2) 17.23% 17.49% -26 bps 9.33% 790 bps Core ROTCE(2) 17.23% 14.15% 308 bps 18.91% -168 bps Efficiency Ratio 62.32% 60.80% 153 bps 66.70% -438 bps Core Efficiency Ratio(2) 62.32% 64.41% -208 bps 62.05% 27 bps Net Interest Margin 5.94% 6.36% -42 bps 5.87% 7 bps Commercial Bank Net Interest Margin(2) 4.18% 4.64% -46 bps 3.99% 19 bps

$3.1Bn Q4 '25 Servicing Portfolio $5.0mm Q4 '25 Revenue3 • Loan service provider that offers community banks and credit unions with a comprehensive outsourced U.S. Small Business Association (“SBA”) 7(a) and U.S. Department of Agriculture (“USDA”) lending platform • Servicing portfolio complements USDA / SBA gain on sale revenue within commercial bank • Poised to benefit from higher industry-wide SBA volumes Q4 2025 5 CBNK Business Model is Uniquely Diversified Source: Company Documents. Note: CBNK financial metrics as of December 31, 2025 unless otherwise stated. 1 Volume in FY 2021 was approximately $1.0 billion and volume in FY 2022 was approximately $300 million. 2 Credit card loans are presented net of reserve for interest and fees. 3 Includes $1.0 million of Capital Bank related servicing fees 4 Excludes $1.8 million loss in Capital Bank Home Loans, $1.4 of net income in Church Street Capital and $0.2mm of other income. 5 Excludes $673k of net loss in Capital Bank Home Loans. Commercial Bank OpenSky Windsor Advantage Commercial Banking Government Guaranty Lending (GGL) • Nationwide GGL business with niche expertise in Solar and Renewable Energy • Strong C&I pipeline with proven ability to originate $150+ million per year of loans $2.8Bn Portfolio Gross Loans, ex. OpenSky $2.6Bn Customer Deposits • Focused on our core markets and filling out our national deposit vertical strategy • High value-added services and targeted vertical expertise generates above-average risk-adjusted loan yields • The Commercial Banking division operates out of six full-service banking locations, four of which are in the DMV Metropolitan Statistical Area (“MSA”), and its locations in Ft. Lauderdale, Florida in the Miami Metro Area MSA, and in Chicago, Illinois in the Chicago MSA $34.6mm Q4 '25 Revenue Fully-Allocated Illustrative Net Income Contribution 5 $107mm Q4 '25 Volume1 $1.9mm Q4 '25 Revenue • Nationwide lender, primarily mortgage banking; Certain retained loans within DMV area • Gain on sale margin returning to normalized levels; Well-positioned for stabilization or decline in rates • Expense management delivering profitability on a marginal basis while maintaining robust origination capabilities • Natural hedge against modest structural asset sensitivity of the balance sheet $163mm Deposits $138mm Loans, net2 • Nationwide, secured credit card to help under-banked customers (re)establish their credit with opportunities for graduation into unsecured credit • Building capabilities to cross-sell products and services as card-holders progress on their customer journeys • Extend unsecured to graduating customers and starting to build capabilities around a straight to unsecured product $21.2mm Q4 '25 Revenue Capital Bank Home Loans OpenSky Windsor Advantage FY 2023 4 66% 26% 8%

Financial Information

Financial Performance Highlights $ in th ou sa nd s 7 (1) Refer to Appendix for reconciliation of non-GAAP measures. (2) Total net interest income includes negligible net interest income from CBHL Net Interest Income and Net Interest Margin Loan Yield and Deposit Rate Trends Cumulative Downcycle Betas (3) Deposit betas are cumulative for the current cycle easing rate cycle (since August 2024); Interest-bearing Deposit Betas include Brokered CD’s (4) Loan yields and deposit rate trends include net purchase accounting adjustments Note: 3Q 2025 includes the $4.6 million (59 bps) Call of Brokered Time Deposits and $1.3 million (17 bps) Interest Income Adjustment. Excluding these items, 3Q 2025 NIM would have been 5.95% and Commercial Bank NIM would have been 4.21%. 8.96% 9.00% 8.90% 8.62% 8.84% 6.98% 7.14% 7.04% 6.75% 6.95% 3.46% 3.37% 3.29% 2.41% 3.28% 2.50% 2.42% 2.36% 1.73% 2.36% 4Q24 1Q25 2Q25 3Q25 4Q25 Loan Yield Commercial Bank Loan Yield(1) Interest Bearing Deposits Rate Total Cost of Deposits $28,097 $30,016 $31,782 $30,905 $33,690 $15,454 $14,444 $14,494 $15,628 $16,377 $715 $1,499 $1,291 $869 $212 $4,618 $44,266 $45,959 $47,567 $52,020 $50,279 5.87% 6.05% 6.04% 6.36% 5.94% 3.99% 4.32% 4.38% 4.64% 4.18% 4Q24 1Q25 2Q25 3Q25 4Q25 Commercial Bank OpenSky Net Purchase Accounting Accretion Brokered Time Deposit Call Net Interest Margin Commercial Bank Net Interest Margin(1)

Core Fee Revenue $ in th ou sa nd s 8 (1) Other includes a $2.6mm non-recurring legacy IFH equity and debt investment write-down during 4Q24, excluded in core revenue. Windsor Advantage 40% OpenSky 35% CBHL 14% Commercial Bank 2% GGL 9% YTD Core Fee Revenue: $49.2MM $4,096 $3,743 $3,733 $4,323 $4,476 $4,847 $1,811 $1,676 $1,736 $1,541 $1,762 $1,784 $728 $2,246 $1,378 $(566) $(509) $845 $4,566 $4,606 $4,696 $5,339 $4,988 14.7% 24.7% 21.4% 21.6% 18.9% 19.9% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 OpenSky CBHL Commercial Bank GGL Windsor Advantage Other(1) Core Fee Revenue as a % of Total Core Revenue

Noninterest Expense $ in th ou sa nd s 9 Note: Other expense includes loan processing expense, outside service providers expense, regulatory expense, office expense and other operational losses Refer to Appendix for reconciliation of Core, non-GAAP measures. $16,513 $18,067 $18,460 $17,728 $17,914 $2,976 $2,910 $2,995 $2,849 $2,638 $2,150 $2,112 $2,422 $2,131 $4,294 546 $7,112 $7,520 $7,654 $7,502 $1,032 $1,779 $1,371 $1,714 $1,398 $5,018 $4,807 $5,406 $5,581 $5,356 $2,615 $1,266 $1,398 $697 $37,514 $38,053 $39,572 $38,354 $39,103 62.8% 65.3% 62.1% 63.1% 62.3% 4Q24 1Q25 2Q25 3Q25 4Q25 Salaries and employee benefits Occupancy and equipment Professional fees Data processing Advertising Other expense Merger-related expenses Core Efficiency Ratio

Profitability(1) 10 (1) Annualized Note: Refer to Appendix for reconciliation of Core, non-GAAP measures. 0.96% 1.75% 1.60% 1.77% 1.71% 1.97% 1.87% 1.73% 1.43% 4Q24 1Q25 2Q25 3Q25 4Q25 ROA ROA Core ROA 8.50% 15.56% 14.17% 15.57%17.46% 16.64% 15.33% 12.56% 15.23% 4Q24 1Q25 2Q25 3Q25 4Q25 Return on Average Equity “ROE” ROE Core ROE 9.33% 17.57% 16.10% 17.49% 18.91% 18.77% 17.39% 14.15% 17.23% 4Q24 1Q25 2Q25 3Q25 4Q25 ROTCE ROTCE Core ROTCE $0.45 $0.82 $0.78 $0.89 $0.91 $0.92 $0.88 $0.85 $0.72 4Q24 1Q25 2Q25 3Q25 4Q25 Earnings Per Share, Diluted EPS Core EPS

Balance Sheet Composition Commentary • Gross loan growth of $137.5 million, or 19.3% (annualized), during 4Q25. • Compared to September 30, 2025, growth was primarily driven by $79.1 million from commercial and industrial ("C&I"), $25.7 million from residential real estate, $15.3 million from construction real estate, $9.5 million from lender finance, and $5.9 million from OpenSky . • C&l loans, plus owner-occupied CRE loans totaled 37.7% of total portfolio loans at December 31, 2025, consistent with the prior quarter, and 37.8% at December 31, 2024. 11 (1) Other is comprised of lender finance of $41.4 million, business equity lines of credit of $3.8 million, other consumer loans of $2.0 million and deferred origination fees, net of $5.6 million. Note: Portfolio loans are presented net of deferred fees and costs of $5.6 million. Credit Card loans are presented net of reserve for interest and fees. C&I + OO-CRE represents 38% of total Portfolio Loans Cash & Cash Equivalents 7% Portfolio Loans 82% AFS Securities Portfolio 6% Other Assets 5% Asset Composition 4Q25 Total Assets: $3.61B Owner Occupied Commercial Real Estate 14% Non Owner-Occupied Commercial Real Estate 18% Residential Real Estate 26% Construction Real Estate 12% Other 1% Credit Card 5% Commercial and Industrial 24% Portfolio Loan Composition 4Q25 Total Loans: $2.96B

Composition of Deposits Commentary • Total deposits increased $180.9 million, or 24.6% (annualized) from 3Q25. • Average portfolio loans-to-deposit ratio of 97.0%. • The total cost of deposits of 2.36% for 4Q 2025 increased 63 bps compared to the prior quarter and decreased 14 bps year-over-year. During 3Q 2025 there was a 63 bps impact from the Call of Brokered Time Deposits. Excluding this item, the cost of deposits for the quarter would have been 2.36%, and 4Q 2025 would have been consistent with 3Q 2025. • The total cost of interest-bearing deposits increased 87 bps quarter-over-quarter, and decreased 19 bps year-over-year, to 3.28% for 4Q 2025. Excluding the Call of Brokered Time Deposits, the 3Q 2025 cost of interest-bearing deposits would have been 3.28%, and 4Q 2025 would have been consistent with 3Q 2025. • Insured and protected deposits were approximately $2.1 billion as of December 30, 2025 representing 68.4% of the Company's deposit portfolio. 12 (1) Annualized (in thousands) Deposits: Balance % of Total Deposits Average Rate(1) Noninterest-bearing 852,520$ 27.6% 0.00% Interest-bearing demand 257,233 8.3% 0.54% Savings 11,679 0.4% 0.36% Money markets 1,105,183 35.7% 3.41% Time deposits 866,364 28.0% 4.06% Total deposits 3,092,979$ 100.0% 2.36% As of or For the Three Months Ended December 31, 2025Noninterest- bearing 28% Money Markets 36% Customer Time Deposits 16% Brokered Time Deposits 12% Interest-bearing Demand 8% Savings < 1% 4Q25 Total Deposits: $3.09B

Investment Portfolio and Liquidity Investment Securities Portfolio • Classified as available for sale with a fair market value of $230 million, or 6.4% of total assets, with an effective duration of 2.5 years. • U.S. Treasuries represent 60% of the overall investment portfolio. • The accumulated other comprehensive loss on the investment securities portfolio of $5.8 million represents 1.4% of total stockholders’ equity and $0.35 of TBVPS. • The Company does not have a held to maturity investment securities portfolio. 13 High Quality, Low Risk Investment Portfolio Sources of Liquidity at December 31, 2025: • $732 million of collateralized lines of credit include: • $606 million of available borrowing capacity from the FHLB. • $125 million of available borrowing capacity from the Federal Reserve Bank of Richmond’s discount window. • Available lines of credit with other correspondent banks totaled $76 million. • Unpledged investment securities available as collateral for potential additional borrowings totaled $9 million. Significant Liquidity Capacity $ in m illi on s

Credit Metrics 14 (1) Refer to Appendix for reconciliation of non-GAAP measures.

11.54% 11.67% 11.87% 11.69% 11.30% 4Q24 1Q25 2Q25 3Q25 4Q25 Bank Tier-1 Risk Based Tier-1 Risk Based 8.0% Well-Capitalized Threshold Robust Capital Ratios 15 Note: Ratios presented are for Capital Bank unless otherwise noted 12.79% 12.93% 13.13% 12.95% 12.60% 4Q24 1Q25 2Q25 3Q25 4Q25 Bank Total Risk Based Total Risk Based 10.0% Well-Capitalized Threshold 9.17% 9.27% 9.39% 9.34% 9.24% 4Q24 1Q25 2Q25 3Q25 4Q25 Bank Tier-1 Leverage Ratio Tier-1 Leverage Ratio 5.0% Well-Capitalized Threshold 11.07% 9.94% 10.22% 10.60% 10.08% 9.31% 8.66% 8.84% 9.06% 8.75% 4Q24 1Q25 2Q25 3Q25 4Q25 Tangible Common Equity Holding Company Tangible Common Equity Capital Bank Tangible Common Equity

0% 20% 40% 60% 80% 100% 120% 140% 160% 180% 200% % Change CBNK 145% KBW NASDAQ Regional Banking Index 18% Selected Banks2 Median 30% 58.48% (60%) (40%) (20%) 0% 20% 40% 60% 80% 100% 120% 140% 160% 180% Share Appreciation Outperforms Industry Source: S&P Global Market Intelligence; FactSet. Note: Market data as of 1/22/2026. 1 CBNK IPO price of $12.50 used as starting price for price change calculation. 2 Select banks with assets between $1.5 billion and $5.0 billion in the Mid-Atlantic (North of Richmond) and New England Region. (ACNB, BCBP, BPRN, BWFG, FRBA, FRST, FVCB, HNVR, JMSB, MNSB, MRBK, MVBF, NBN, PKBK, UNTY). 16 Share Price Change Since CBNK IPO on 9/26/20181TBVPS + Dividend Growth Since 2018Q3 85%+ Outperformance vs. both groups 115%+ Outperformance vs. both groups CAGR % Change CBNK 15.8% 190% KBW NASDAQ Regional Banking Index 10.3% 103% Selected Banks2 Median 9.3% 91%

Jake Dalaya Chief Financial Officer (301)-637-5118 NASDAQ: CBNK

Non-U.S. GAAP Financial Measures

Reconciliation of Non-GAAP Information 19 Tangible Book Value Per Share (in thousands, except per share amount) December 31, 2025 September 30, 2025 December 31, 2024 Total Stockholders' Equity 401,978$ 394,770$ 355,139$ Less: Preferred equity - - - Less: Intangible assets 40,740 41,002 36,943 Tangible Common Equity 361,238$ 353,768$ 318,196$ Period End Shares Outstanding 16,381,088 16,589,241 16,662,626 Tangible Book Value Per Share 22.05$ 21.33$ 19.10$ Commercial Bank Net Interest Margin(1) (in thousands) December 31, 2025 September 30, 2025 December 31, 2024 Commercial Bank Net Interest Income 33,764$ 36,267$ 28,812$ Average Interest Earning Assets 3,360,576 3,246,653 3,003,081 Less: Average Non-Commercial Bank Interest Earning Assets 152,715 144,558 133,401 Average Commercial Bank Interest Earning Assets 3,207,861$ 3,102,095$ 2,869,680$ Commercial Bank Net Interest Margin(1) 4.18% 4.64% 3.99% (1) Annualized Quarters Ended Quarters Ended

Reconciliation of Non-GAAP Information 20 Net Charge-offs to Average Portfolio Loans(1) (in thousands) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Total Net Charge-offs 2,373$ 2,476$ 5,088$ 2,444$ 2,427$ Total Average Portfolio Loans 2,902,033 2,789,815 2,733,865 2,634,110 2,592,960 Net Charge-offs to Average Portfolio Loans(1) 0.32% 0.35% 0.75% 0.38% 0.37% Nonperforming Loans to Total Portfolio Loans (in thousands) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Total Nonperforming Loans 54,421$ 52,247$ 36,167$ 42,934$ 30,241$ Total Portfolio Loans 2,959,457 2,821,983 2,739,808 2,678,406 2,630,163 Nonperforming Loans to Total Portfolio Loans 1.84% 1.85% 1.32% 1.60% 1.15% Allowance for Credit Losses to Total Portfolio Loans (in thousands) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Allowance for Credit Losses 54,660$ 53,045$ 47,447$ 48,454$ 48,652$ Total Portfolio Loans 2,959,457 2,821,983 2,739,808 2,678,406 2,630,163 Nonperforming Loans to Total Portfolio Loans 1.85% 1.88% 1.73% 1.81% 1.85% Commercial Bank Allowance for Credit Losses to Commercial Bank Portfolio Loans (in thousands) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Allowance for Credit Losses 54,660$ 53,045$ 47,447$ 48,454$ 48,652$ Less: Credit Card Allowance for Credit Losses 8,232 7,413 6,762 5,905 6,402 Commercial Bank Allowance for Credit Losses 46,428 45,632 40,685 42,549 42,250 Total Portfolio Loans 2,959,457 2,821,983 2,739,808 2,678,406 2,630,163 Less: Gross Credit Card Loans 137,905 130,897 126,233 115,991 122,928 Commercial Bank Portfolio Loans 2,821,552 2,691,086 2,613,575 2,562,415 2,507,235 Commercial Bank Allowance for Credit Losses to Commercial Bank Portfolio Loans 1.65% 1.70% 1.57% 1.70% 1.24% (1) Annualized Quarters Ended Quarters Ended Quarters Ended Quarters Ended

Reconciliation of Non-GAAP Information 21 Core Earnings Metrics (in thousands, except per share data) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Net Income 15,037$ 15,065$ 13,136$ 13,932$ 7,533$ Deduct: Income from the Call of Brokered Time Deposits, Net of Tax - (3,489) - - - Add: Merger-Related Expenses, Net of Tax - 575 1,070 964 2,151 Add: Non-Recurring Equity and Debt Investment Write- Down - - - - 2,620 Add: IFH ACL Provision, Net of Tax - - - - 3,169 Core Net Income 15,037$ 15,640$ 14,206$ 14,896$ 9,684$ Weighted average common shares - Diluted 16,493 16,844 16,802 16,925 16,729 Earnings per share - Diluted 0.91$ 0.89$ 0.78$ 0.82$ 0.45$ Core Earnings per share - Diluted 0.91$ 0.72$ 0.85$ 0.88$ 0.92$ Average Assets 3,498,540$ 3,378,296$ 3,292,533$ 3,221,964$ 3,120,107$ Return on Average Assets(1) 1.71% 1.77% 1.60% 1.75% 0.96% Core Return on Average Assets(1) 1.71% 1.43% 1.73% 1.87% 1.97% Average Equity 391,750$ 383,922$ 371,795$ 363,115$ 352,537$ Return on Average Equity(1) 15.23% 15.57% 14.17% 15.56% 8.50% Core Return on Average Equity(1) 15.23% 12.56% 15.33% 16.64% 17.46% Net Interest Income 50,279$ 52,020$ 47,646$ 46,047$ 44,327$ Noninterest Income 12,464 11,068 13,106 12,549 11,913 Total Revenue 62,743$ 63,088$ 60,752$ 58,596$ 56,240$ Noninterest Expense 39,103 38,354 39,572 38,053 37,514 Efficiency Ratio(2) 62.3% 60.8% 65.1% 64.9% 66.7% Net Interest Income 50,279$ 52,020$ 47,646$ 46,047$ 44,327$ Less: Brokered Time Deposit Call - 4,618 - - - Core Net Interest Income (a) 50,279$ 47,402$ 47,646$ 46,047$ 44,327$ Noninterest Income 12,464 11,068 13,106 12,549 11,913 Add: Non-Recurring Equity and Debt Investment Write- Down -$ -$ -$ -$ 2,620$ Core Fee Revenue (b) 12,464$ 11,068$ 13,106$ 12,549$ 14,533$ Core Revenue (a) + (b) 62,743$ 58,470$ 60,752$ 58,596$ 58,860$ Noninterest Expense 39,103 38,354 39,572 38,053 37,514 Less: Merger-Related Expenses -$ 697$ 1,398$ 1,266$ 2,615$ Core Noninterest Expense 39,103$ 37,657$ 38,174$ 36,787$ 34,899$ Core Efficiency Ratio(2) 62.3% 64.4% 62.8% 62.8% 59.3% (1) Annualized (2) The efficiency ratio is calculated by dividing noninterest expense by total revenue (net interest income plus noninterest income). Quarters Ended

Reconciliation of Non-GAAP Information 22 Return on Average Tangible Common Equity (in thousands) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Net Income 15,037$ 15,065$ 13,136$ 13,932$ 7,533$ Add: Intangible Amortization, net of tax 200 199 200 199 198 Net Tangible Income 15,237$ 15,264$ 13,336$ 14,131$ 7,731$ Average Equity 391,750 383,922 371,795 363,115 352,537 Less: Average Intangible Assets 40,884 37,706 39,534 36,896 22,890 Net Average Tangible Common Equity 350,866$ 346,216$ 332,261$ 326,219$ 329,647$ Return on Average Equity 15.23% 15.57% 14.17% 15.56% 8.50% Return on Average Tangible Common Equity 17.23% 17.49% 16.10% 17.57% 9.33% Core Return on Average Tangible Common Equity (in thousands) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Net Income, as Adjusted 15,037$ 12,151$ 14,206$ 14,896$ 15,473$ Add: Intangible Amortization, net of tax 200 199 200 199 198 Core Net Tangible Income 15,237$ 12,350$ 14,406$ 15,095$ 15,671$ Core Return on Average Tangible Common Equity 17.23% 14.15% 17.39% 18.77% 18.91% Quarters Ended Quarters Ended


Maryland	001-38671	52-2083046
(State or other jurisdiction of incorporation or organization)	(Commission file number)	(IRS Employer Identification No.)


Title of Each Class	Trading Symbol	Name of Each Exchange on Which Registered
Common Stock, par value $0.01 per share	CBNK	NASDAQ Stock Market


			CAPITAL BANCORP, INC.


Date: January 26, 2026			By: /s/ Jacob Dalaya
			Name: Jacob Dalaya
			Title: Chief Financial Officer


99.1			Press Release, dated January 26, 2026.

99.2			Investor Presentation January 2026.

104			Cover Page Interactive Data File (embedded within the Inline XBRL document)