August 2019

Dear Shareholders,

As we watch the Brewers struggle to maintain the momentum from last year’s division crown and our beloved Packers welcome in a new head coach in hopes of a Super Bowl run, I am reminded that in business –much like sports, you are only as good as your next game. Operating in a competitive environment doesn’t allow much time to reflect on past years of success. For this reason, I feel fortunate to have the pleasure of sharing positive news with you once again.

Key Financial Highlights for the period ending June 30, 2019 include:

  • Strong balance sheet growth
    • Assets increased 10% in the past 12 months to $383 million
    • Net Loans grew 13.9% to $292 million during this same period
    • Deposits of $334 million also grew 13.3% in the past year
    • Equity Capital also surged 15.8% to $45 million
    • Non-performing assets remain very low at 0.28% of loans
  • Steady earnings compare favorably to local peer banks
    • Consolidated Earnings through 6 months of $2.3 million represents an increase of 33% in the past 2 years and up 53% over 3 years
    • Return on Equity YTD of 10.69% compared to local peer bank’s average of 9.45%
    • Return on Assets YTD of 1.25% compared to local peer bank’s average of 1.05%

Stock Update

Enclosed is a historical summary of key financial measures for Capitol Bankshares, Inc. and Capitol Bank including stock activity. There was modest activity of private party stock transaction levels with 6,285 shares sold through June 30, 2019, with the latest price of $58 a share. We are in the process of closing on a trade of 4,000 shares at $59 a share.

Additionally, we have 3,260 shares available for sale at $59 a share and another 1,500 shares available at $64 a share. If you have questions regarding your shares or are interested in purchasing additional shares, please contact Paige Janquart or Ken Thompson at 608-836-1616 for more information.

Expanding our Office Space

Our growing team of banking professionals has generated a need for additional office space. I am pleased to report that we have negotiated a lease to occupy space on the 2nd floor of the Stark Building right next door and will begin moving employees into this space in September. This will give us the much needed space to support our future growth plans.

Please note that customers should continue to visit the main branch to access banking services as we are not planning to host any customers in this new space.

Technology Update

Technology touches every aspect of our lives today and banking is no exception. Capitol Bank continues to invest in technology in an effort to improve customer experiences and operational efficiencies. The following initiatives are underway:

  • Automated Small business loans – Businesses will soon have the ability to apply for small business loans via an online application and automated underwriting system. This easy process will greatly enhance the speed of delivery while maintaining full access to our commercial bankers along the way.
  • WireManager – We recently launched a fully integrated wire transfer product that allows business customers to originate a wire within online banking.
  • Mobile Payments or Tokenization (Apple Pay, Samsung Pay, Google Pay) – This product allows customers to pay at retailers using their phone. Payment information is protected and encrypted and is generally easier to use than a traditional debit card.
  • Salesforce Software – The Bank continues to build out our Customer Relationship Management (CRM) platform to better understand and serve the needs of our customers.

New Full-Time Hires in 2019

  • Ami Myrland, SVP & Chief Financial Officer
  • Jim Saer, SVP Commercial Lending
  • Tim Nemec, VP Commercial Lending, Verona
  • Ben Stuckey, Senior Credit Analyst
  • Chris Hagens, Credit Analyst
  • Rene Kaiser, Relationship Banker
  • Sharen Hook, Universal Banker, Verona
  • Sara Miller, Commercial Lending Administrator
  • Elizabeth Loughrin, Private Banking Administrator
  • Macy Lawrence, Commercial Lending Administrator

Building a storied history, like those of the Brewers and Packers, takes time and a lot of hard work. It is exciting to think that in one short year, we will be celebrating our 25th anniversary. What started out as an idea – to build a trusted community bank where relationships really matter – has become a thriving and successful business where the idea is now our driving vision, one that we live every day. I can’t help but wonder what the next 5, 10… or 25 years will bring. With the help of our quality team of bankers and the ongoing support of our shareholders, anything is possible!

Best wishes.

Ken Thompson Signature

Ken Thompson
President / Chairman, Capitol Bankshares, Inc.
President / CEO, Capitol Bank

Click here for the Financial Highlights as of June 30, 2019.

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 2018 Annual Report

Capitol Bank celebrated its 23rd anniversary in 2018. Read the full report on the excellent year we had.

Download the PDF

Board of Directors


Kenneth D. Thompson
President & CEO, Capitol Bank
President & 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

Mark Koehl, CPA
Retired, Wipfli LLP


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


Theodore J. Richards
Chairman of the Board, Strand Associates, Inc.


Robert W. Tensfeldt
Private Investor


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

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