08:54 AM EDT, 10/01/2024 (MT Newswires) -- Capital Bancorp ( CBNK ) said Tuesday that it has completed its merger with Integrated Financial Holdings.

Under the terms of the deal, Integrated Financial shareholders' stock was converted into the right to receive 1.115 shares of Capital Bancorp ( CBNK ) common stock and $5.36 in cash for every one share of Integrated Financial stock, as well as cash in lieu of fractional shares.

Capital Bancorp ( CBNK ) said the pro forma organization will have approximately $3 billion in assets.