On April 13, 2023, Capital Bancorp, Inc. (the “Company”), the bank holding company for Capital Bank, N.A. (the “Bank”), announced the transition of Steve Poynot, the Bank's current Executive Vice President and Chief Operating Officer, to the position of President of the Bank, to be effective April 17, 2023. In his new role, Mr. Poynot will have overarching responsibility for commercial banking production, credit and operations of the Bank, and he will report to the Chief Executive Officer of the Bank and the Company. He will also retain his role as Chief Operating Officer of the Bank.

In connection with Mr. Poynot's transition to this new role, the Bank's current President and Chief Lending Officer, Scot R. Browning, will transition to President of Specialty & CRE Lending of the Bank, reporting to the President of the Bank. In his new role, Mr. Browning will continue to serve on internal loan committees, and have overall responsibility for CRE lending and new specialty lending lines of business. Mr. Browning will continue to serve as a director of the Company and the Bank.

The Bank expects to hire a new Chief Lending Officer. Mr. Poynot, 44, has served as Executive Vice President and Chief Operating Officer of the Bank since October 2022 and has over 25 years of experience in business development, data and financial analysis, risk management, strategic planning, operations and information management, and technology delivery. Prior to joining the Bank, Mr. Poynot served as Executive Vice President and Chief Operating Officer of F&M Trust from February 2022 to September 2022 and, prior to that, served Howard Bank in various roles for over 17 years, including time as Executive Vice President, Chief Information Officer and Chief Credit Officer.