Capital Bancorp in Rockville, Md., has a new bank president.
The $3.4 billion-asset company said in a press release that Steve Poynot, its president and chief operating officer, had become CEO of Capital Bank.
Ed Barry remains the company’s CEO under a new employment agreement that lasts until December 2027.
“Our long-term growth strategy is built around creating a diversified financial services enterprise comprised of a core commercial bank and a set of differentiated, high-performing businesses,” Steven Schwartz, the company’s chairman, said in the release.
“This leadership alignment acknowledges the complexity of our enterprise and ensures that we continue to harvest the investments that we have made in our commercial banking franchise, while continuing to maximize the growth of our other lines of business,” Schwartz added.