This Rockville bank is planning a $35M IPO

Rockville-based Capital Bank aims to raise $35 million in an initial public offering, according to Securities and Exchange Commission filings.

The bank has not yet set a per-share price for its public markets debut, or a date for when it intends to begin trading on its chosen market, the NASDAQ, with a ticker symbol of “CBNK.” But the bank’s aggressive organic growth suggests this IPO is the logical next step for the burgeoning financial institution.

Capital Bank declined to comment for this article, a typical practice during the so-called “quiet periods” as a company tries to stir investor interest. The IPO comes as Fairfax-based FVCBankcorp Inc., in the same weight class, aims to raise $35 million through its IPO, debuting on the Nasdaq Capital Market.

Capital Bank has seen its assets grow dramatically, from $488.7 million in 2013 to about $1.06 billion so far in 2018 — a jump of about 117 percent. Deposits have also seen similar growth, from $374.4 million in 2013 to $938.4…

Read the full story from the Washington Business Journal.