Capital Bancorp Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Capital Bancorp, Inc. on August 14, 2026. The filing discloses a change in the Company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the change in auditors and does not contain financial statement data.
Material Changes
- Accountant Dismissal: Elliott Davis, PLLC was dismissed as the independent registered public accounting firm effective August 14, 2026.
- New Appointment: Crowe LLP was selected and formally engaged as the new independent registered public accounting firm for the fiscal year ending December 31, 2026.
- Rationale: The Audit Committee determined to engage a larger firm with additional resources and industry specialization to support the Company's continued growth and expanding operations.
Outlook, Risks, and Contingencies
Audit History: The audit reports issued by Elliott Davis, PLLC for the years ended December 31, 2025 and 2024 did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, scope, or accounting principles.
Disagreements: There were no disagreements with the former accountant on accounting principles, practices, or auditing scope during the relevant periods, except for a material weakness in internal control over financial reporting previously disclosed in the 2025 Form 10-K.
Prior Engagement: Crowe LLP was previously engaged in October 2024 to assist with the valuation of assets related to the acquisition of Integrated Financial Holdings, Inc.
Investor Verification Checklist
- Verify the letter from Elliott Davis, PLLC (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the dismissal.
- Review the Company's most recent Form 10-K for details on the material weakness in internal controls mentioned in the filing.
- Confirm the transition timeline and any potential impact on the audit of the fiscal year ending December 31, 2026.
- Assess the strategic rationale for switching to a larger accounting firm in the context of the Company's growth plans.