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Friday, May 1, 2026

Capital Bank Sold

San Juan Capistrano-based Capital Bank agreed to be bought for $60 million in cash and stock by San Diego-based Seacoast Commerce Banc Holdings.

Capital shareholders will get about $53.6 million plus an additional $6.4 million for stock option holders.

Capital Bank shares rose 29% to $29.78 in recent trading. Seacoast, which has a market cap of $109 million, rose 10 cents, or 0.6%, to $18.30.

Capital Bank was founded in 2008 and has two branches and assets of $305.2 million as of March 31. Upon closing, two members of Capital’s board of directors are expected to join the Seacoast board.

Seacoast said it will become “the largest locally headquartered bank in San Diego County” with assets of $905.6 million. Seacoast’s primary business is in U.S. Small Business Administration loans.

The acquisition is expected to close in the fourth quarter, subject to regulatory and shareholder approvals.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.

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