Net interest income climbed from $37.1M in 2024Q2 to $53.1M in 2026Q3 while net interest margin stayed near 1.4%, but the efficiency ratio deteriorating to 94.9% in 2026Q1 suggests margin strength has not translated into consistent bottom-line profitability.
Capital Bancorp, Inc. (CBNK) annual income statement — 14-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'06 | Dec'05 | Dec'04 |
|---|
| Net Interest Income | 203.68M | 195.99M | 154.75M | 141.53M | 140.61M | 116.69M | 84.07M | 66.34M | 57.89M | 48.91M | 42.76M | 33.68M | -3.12M | -2.56M | -1.22M |
| NII Growth % | 29.63% | 26.65% | 9.34% | 0.65% | 20.49% | 38.81% | 26.73% | 14.6% | 18.35% | 14.39% | 26.97% | 1177.98% | -22.17% | -109.59% | - |
| Net Interest Margin % | 5.36% | 5.43% | 4.83% | 6.36% | 6.62% | 5.68% | 4.48% | 4.65% | 5.24% | 4.77% | 4.72% | 4.53% | -0.55% | -0.54% | -0.33% |
| Interest Income | 278.86M | 260.87M | 213.3M | 183.21M | 150.65M | 123.24M | 97.25M | 82.18M | 69.13M | 56.67M | 49.24M | 38.25M | 0 | 0 | 0 |
| Interest Expense | 75.17M | 64.88M | 58.55M | 41.68M | 10.04M | 6.55M | 13.18M | 15.84M | 11.24M | 7.75M | 6.48M | 4.58M | 3.12M | 2.56M | 1.22M |
| Loan Loss Provision | 8.81M | 15.18M | 18.11M | 9.51M | 6.63M | 3.36M | 11.24M | 2.79M | 2.14M | 2.65M | 4.29M | 1.61M | 36.82M | 26.43M | 18.66M |
| Non-Interest Income | 23.2M | 42.76M | 28.98M | 23.34M | 29.37M | 50.64M | 50.14M | 25.69M | 16.4M | 15.23M | 20.47M | 14.96M | 39.95M | 28.99M | 19.88M |
| Non-Interest Income % | 10.22% | 17.91% | 15.77% | 14.16% | 17.28% | 30.26% | 37.36% | 27.92% | 22.08% | 23.74% | 32.38% | 30.76% | 108.48% | 109.67% | 106.54% |
| Total Net Revenue | 226.88M | 238.75M | 183.72M | 164.87M | 169.98M | 167.33M | 134.21M | 92.03M | 74.29M | 64.14M | 63.23M | 48.64M | 36.82M | 26.43M | 18.66M |
| Revenue Growth % | -3.11% | 29.95% | 11.44% | -3.01% | 1.58% | 24.67% | 45.84% | 23.88% | 15.83% | 1.43% | 30.01% | 32.08% | 39.3% | 41.69% | - |
| Non-Interest Expense | 174.25M | 152.99M | 123.79M | 109.13M | 109.11M | 110.09M | 87.83M | 66.53M | 54.4M | 47.38M | 43.38M | 34.85M | 2.11M | 2.7M | 2.41M |
| Efficiency Ratio | 76.8% | 64.08% | 67.38% | 66.19% | 64.19% | 65.79% | 65.44% | 72.29% | 73.23% | 73.88% | 68.6% | 71.65% | 5.73% | 10.21% | 12.92% |
| Operating Income | 43.82M | 70.61M | 41.83M | 46.23M | 54.23M | 53.88M | 35.14M | 22.71M | 17.75M | 14.1M | 15.56M | 12.18M | 6.53M | 4.98M | 3.91M |
| Operating Margin % | 19.31% | 29.58% | 22.77% | 28.04% | 31.91% | 32.2% | 26.18% | 24.68% | 23.89% | 21.98% | 24.61% | 25.04% | 17.73% | 18.85% | 20.94% |
| Operating Income Growth % | - | 68.8% | -9.5% | -14.77% | 0.66% | 53.33% | 54.69% | 27.97% | 25.89% | -9.4% | 27.77% | 86.59% | 30.96% | 27.57% | - |
| Pretax Income | 71.55M | 74.94M | 41.83M | 46.23M | 54.23M | 53.88M | 35.14M | 22.71M | 17.75M | 14.1M | 15.56M | 12.18M | 6.53M | 4.98M | 3.91M |
| Pretax Margin % | 31.54% | 31.39% | 22.77% | 28.04% | 31.91% | 32.2% | 26.18% | 24.68% | 23.89% | 21.98% | 24.61% | 25.04% | 17.73% | 18.85% | 20.94% |
| Income Tax | 17.13M | 17.77M | 10.86M | 10.35M | 12.43M | 13.9M | 9.31M | 5.82M | 4.98M | 6.99M | 6.12M | 4.69M | 2.35M | 1.76M | 534K |
| Effective Tax Rate % | 23.93% | 23.72% | 25.96% | 22.4% | 22.92% | 25.8% | 26.51% | 25.62% | 28.07% | 49.58% | 39.33% | 38.49% | 35.94% | 35.31% | 13.67% |
| Net Income | 54.43M | 57.17M | 30.97M | 35.87M | 41.8M | 39.98M | 25.82M | 16.89M | 12.77M | 7.11M | 9.44M | 7.49M | 4.18M | 3.22M | 3.37M |
| Net Margin % | 23.99% | 23.95% | 16.86% | 21.76% | 24.59% | 23.89% | 19.24% | 18.36% | 17.19% | 11.08% | 14.93% | 15.4% | 11.35% | 12.2% | 18.08% |
| Net Income Growth % | 9.59% | 84.59% | -13.66% | -14.19% | 4.57% | 54.82% | 52.84% | 32.33% | 79.59% | -24.7% | 26.02% | 79.18% | 29.68% | -4.42% | - |
| Net Income (Continuing) | 54.43M | 57.17M | 30.97M | 35.87M | 41.8M | 39.98M | 25.82M | 16.89M | 12.77M | 7.11M | 9.44M | 7.49M | 4.18M | 3.22M | 3.37M |
| EPS (Diluted) | 3.30 | 3.40 | 2.12 | 2.55 | 2.91 | 2.84 | 1.87 | 1.21 | 1.02 | 0.54 | 0.72 | 0.57 | 0.31 | 0.24 | 0.25 |
| EPS Growth % | 12.58% | 60.38% | -16.86% | -12.37% | 2.46% | 51.87% | 54.55% | 18.63% | 88.89% | -25% | 26.32% | 83.87% | 29.17% | -4% | - |
| EPS (Basic) | - | 3.45 | 2.12 | 2.56 | 2.98 | 2.90 | 1.87 | 1.23 | 1.05 | 0.54 | 0.72 | 0.57 | 0.31 | 0.24 | 0.25 |
| Diluted Shares Outstanding | 16.48M | 16.49M | 14.64M | 14.08M | 14.36M | 14.08M | 13.8M | 13.97M | 12.46M | 13.16M | 13.16M | 13.16M | 13.5M | 13.5M | 13.5M |
Quick answers to the most common questions about buying CBNK stock.
For fiscal year 2025, Capital Bancorp, Inc. (CBNK) reported total revenue of $238.8M. This represents a 1179.7% increase compared to $18.7M in 2004.
Capital Bancorp, Inc. (CBNK) is profitable, generating $57.2M in net income for the fiscal year ending 2025 with a net profit margin of 23.9%.
Capital Bancorp, Inc. (CBNK) reported an operating income of $70.6M, resulting in an operating profit margin of 29.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Capital Bancorp, Inc. (CBNK) generated $223.6M in gross profit for the year, representing a gross profit margin of 93.6%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Fee income volatility and provisioning
Metrics are mathematically derived from official filings.
NII Growth Slowing Relative to Peak
Based on the reported quarterly figures, CBNK's net interest income rose from $37.1M in 2024Q2 to $53.1M in 2026Q3, though year-over-year growth decelerated to 2.0% in the latest quarter, suggesting the balance sheet expansion that drove earlier gains may be maturing.
The steep NII climb through 2025 reflects a combination of loan volume growth and a favorable funding mix during that period. The sharp deceleration to 2.0% in 2026Q3 after 35.6% in 2025Q3 may indicate that rate-driven tailwinds have faded or that deposit repricing is now absorbing asset yield gains. Investors should monitor whether sequential NII can hold above the $50M level without renewed loan growth.
Net Interest Margin Holding Near 1.4%
As reported in financial statements, CBNK's net interest margin has remained in a tight 1.3% to 1.5% band across the ten quarters shown, with the most recent reading at 1.4%, which appears modest relative to the peer group's profitability profile.
A margin this compressed suggests the bank's asset yields are only marginally exceeding funding costs, leaving limited cushion against further deposit repricing. The stability across the cycle may indicate disciplined pricing, but it also constrains earnings power absent balance sheet growth. Relative to peers such as NECB and BWFG, the margin profile warrants further investigation into asset mix and funding composition.
Efficiency Ratio Deterioration Signals Pressure
According to recent SEC filings, CBNK's efficiency ratio swung from 61.6% in 2025Q4 to 92.0% in 2026Q2 and 94.9% in 2026Q1, levels that suggest non-interest expenses consumed nearly all revenue in those periods.
The reported figures for early 2026 show revenue compressing while the expense base remained elevated, producing a sharp operating leverage reversal. The return to a 65.5% ratio in 2026Q3 may reflect a rebound in revenue or cost discipline, but one quarter is insufficient to confirm a durable recovery. Investors should monitor whether the efficiency ratio sustainably returns to the mid-60s range.
Provisioning Volatility Drives Earnings Swings
Based on CBNK's reported figures, provision expense ranged from $2.2M in 2025Q1 to $8.0M in 2024Q4, with no provision recorded in 2026Q1 and 2026Q2, a pattern that warrants further investigation rather than inference about underlying credit quality.
The lumpy provision pattern makes it difficult to isolate underlying credit trends from reserve timing decisions. The absence of reported provisions in two recent quarters is noted as data available, but the reported figures alone do not establish whether credit conditions improved or whether reserve builds were deferred. The $4.8M provision in 2026Q3 may indicate renewed reserve activity.
Fee Income Contribution Remains Uneven
As reported in financial statements, CBNK's non-interest income of $11.9M in 2026Q3 represented 18.3% of total revenue, a share that has oscillated between roughly 15% and 21% over the reported period without a clear upward trend.
Fee income appears to be a meaningful but inconsistent contributor to total revenue, and the reporting gaps in 2026Q1 and 2026Q2 limit the ability to assess recurring versus transactional composition. Without disclosed detail on wealth management or service charge components, the durability of this income stream cannot be confirmed. Investors should monitor whether fee income stabilizes as a share of revenue.
Earnings Base Vulnerable to Reversal
Based on reported figures, CBNK's EPS fell 10.1% year-over-year in 2026Q3 and 11.0% in 2026Q1, suggesting that recent earnings gains may be less durable than the 2025 peak implied.
The 2025 earnings surge coincided with favorable NII growth and a sharp jump in fee income, and the subsequent reversal raises questions about how much of that strength was cyclical. Lower reported EPS alongside a return to elevated efficiency ratios in early 2026 may indicate that the earnings base is more sensitive to rate and credit conditions than the headline growth suggested. Further analysis of loan growth and deposit cost trends would be needed to assess this risk.