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Maryland-based Capital Bancorp files for IPO

Capital Bancorp Inc. filed a registration statement to raise up to $35 million in an initial public offering of its common stock.

The Rockville, Md.-based company did not disclose the number of shares to be issued in the offering.

Net proceeds will be used to fund the organic growth of its commercial and consumer business lines and for general corporate purposes.

Capital Bancorp has applied to list its common stock on the Nasdaq Global Market under the symbol CBNK.

Keefe Bruyette & Woods and Stephens Inc. are serving as underwriters for the IPO. American Stock Transfer & Trust Co. LLC serves as Capital Bancorp's transfer agent and registrar.