August 15, 2018

Dear Shareholder,

Recently, I had the pleasure of attending a conference last week where Janet Yellen, former Chair of the Federal Reserve, spoke to a group of community bankers. Ms. Yellen gave an interesting glimpse into the difficult decisions made during the Great Recession to help our economy recover. She also confirmed that our business environment has improved so dramatically over the past decade that she now gives the U.S. economy an “A” grade. Low unemployment, stronger GDP and corporate tax cuts have given community banks a better environment in which to do business these days.

For you, our shareholder, this is exceptional news. In the wake of this positive recovery, Capitol Bank is also getting good grades on a number of fronts with 2018 being a record year of profitability and earnings growth. Key financial highlights through June 2018 include:

  • Net Income of $2,276,567, an increase of 31% in the past 12 months
  • Return on Equity of 11.86% compared to 9.58% as of June 2017
  • Return on Assets of 1.28% versus .99% for the same period in 2017
  • Earnings per share reached $4.77, also up 31% in the past 12 months
  • Non-performing loans dropped to $189,503 from $4,472,262 year over year
  • Gross Revenues grew 17% in the past 12 months and 30% in the past 24 months

Stock Update

[You have received] a historical summary of key financial measures for Capitol Bankshares, Inc. and Capitol Bank including stock activity. Private party stock transaction levels have increased in the second quarter, with 19,025 shares sold through June 30, 2018, with the latest price of $52 a share. If you have questions regarding your shares or are interested in purchasing stock, please contact Paige Janquart or Ken Thompson at 608-836-1616 for more information.

Our Team

Capitol Bank’s #1 asset is our team of qualified bankers. We continue to seek and attract experienced bankers to drive our mission and support our growth plans. Additionally, we recently promoted the following employees who have collectively been employed with Capitol Bank for 94 years:

  • Gene Bembenek to Executive Vice President, CFO, HR and Operations
  • Derek Moehring to Executive Vice President, Senior Lender
  • Gary Kuter to Senior Vice President, Retail and Compliance
  • Justin Hart to Senior Vice President, Commercial Lending and Marketing
  • Lori Pond to Senior Vice President, Loan Administration and Operations
  • Rick Zimmerman to Senior Vice President, Private Banking and Commercial Lending
  • Annette Wolter to Assistant Vice President, Loan Operations

Our Focus

At the annual shareholders meeting in May, I outlined Capitol Bank’s objectives and areas of focus for 2018 and beyond.

  • Growth: To compete in this highly competitive environment, it is imperative for us to execute on our plan for continued growth. Our balance sheet is well-positioned to fund future loan growth and remains our highest priority. While more challenging as rates rise, we continue to focus on growing core deposits in the form of business and personal transaction accounts. As shareholders you can help us grow by choosing to bank with us and referring others to Capitol Bank.
  • Retain and attract Talent: Madison’s strong economy has created a tight job market. The addition of Mandy Ayers last fall as a seasoned Human Resource professional will help us meet our goal of maintaining and growing the highest quality team of bankers.
  • Space Needs: Our growth plans call for more bankers which require more space than we presently have. Plans are underway to address these future needs.
  • Technology Advances: Banking has changed since Capitol Bank started in 1995 – especially in the area of technology. Today over 60% of our incoming deposits come to us electronically. So it is imperative that we invest in our technology infrastructure to support our customer needs.
  • Succession Planning: As our organization matures, we are preparing for natural succession as it occurs within the bank and the board room.

To some, the Great Recession may seem like a distant memory but it reminds us of the many lessons learned. Staying close to and understanding our customers’ needs will help us be a resource for our clients regardless of the economic conditions. Our bankers have embraced the important role they play in helping people capture economic prosperity while avoiding undue financial risks.

As I talked with my fellow bankers after Ms. Yellen’s presentation, I had a special sense of pride for the role community banks play in American life. The economic renewal began at the grassroots where bankers and customers know and talk to each other. All of us at Capitol Bank are especially proud of the connection we have with each of you.

In closing, I want to say a simple “Thank you.” We are working together every day toward collective success. Please contact me or any member of the Capitol Bank Team at any time. Best wishes.


Ken Thompson Signature

Ken Thompson President / CEO

Capitol Bankshares Documents

Below are a few frequently requested documents.
Authorization Agreement for Automatic Deposit
Letter of Transmittal – Transferee
Letter of Transmittal – Transferor

Buy & Sell Stock

Please contact Capitol Bank if you are interested in buying or selling stock shares.

Download the 2017 Annual Report

Capitol Bank celebrated its 20th anniversary in 2015. Read the full report on the year that was.

Download the PDF

Board of Directors


Kenneth D. Thompson
President & CEO, Capitol Bank
Chairman of the Board


Frank E. Burgess
Chairman, Madison Investment Holdings, Inc.

Sean Cleary - Cleary Building Corp.

Sean Cleary
President of Cleary Holdings Inc., Cleary Building Corp., and Cleary Transport LLC.


Joseph P. Hildebrandt
Managing Director
DaneVest Tech Fund I, LP
Phenomenelle Angels Fund I
Secretary, Capitol Bankshares, Inc.


Erik S. Johnson
Chairman & CEO, Hy Cite Corporation


Gerald C. Peterson
Owner, Peterson Investments
Treasurer, Capitol Bankshares, Inc.


Theodore J. Richards
Chairman & CEO, Strand Associates, Inc.


Robert W. Tensfeldt
Private Investor


Albert L. Toon, Jr.
Olson Toon Landscaping, Inc.
Vice President, Capitol Bankshares, Inc.

Update Contact Information

Please provide your current information. We’ll contact you to verify your identity before updating our records.