Capital Bancorp Inc Engages Crowe LLP as New Auditor

What Happened
Capital Bancorp, Inc. filed a Form 8-K on August 14, 2026 announcing that its Audit Committee dismissed Elliott Davis, PLLC and has engaged Crowe LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2026. The Audit Committee said the change was made to secure a larger firm with additional resources and industry specialization to support the company’s growth. Elliott Davis’ audit reports on the consolidated financial statements for the years ended December 31, 2025 and 2024 were unqualified (no adverse opinion or disclaimer), and there were no disagreements with Elliott Davis on accounting or auditing matters during those periods, other than a previously disclosed material weakness in internal control over financial reporting noted in the 2025 Form 10-K.

Key Details

• Date of filing: August 14, 2026 (Form 8-K).
• New auditor: Crowe LLP formally engaged for fiscal year ending December 31, 2026.
• Prior auditor: Elliott Davis, PLLC dismissed; Elliott Davis provided a letter dated August 14, 2026 (filed as Exhibit 16.1).
• No disagreements with Elliott Davis for 2024–2025 and through the filing date; no reportable events except the material weakness disclosed in the 2025 10-K.
• Crowe LLP previously performed valuation work related to the company’s October 1, 2024 acquisition of Integrated Financial Holdings, Inc.

Why It Matters
A change in the company’s independent auditor can affect investor confidence in financial reporting and audit quality. Capital Bancorp’s move to engage a larger firm with industry specialization may indicate the company is seeking greater audit resources as it grows and its operations expand. Investors should note the company’s prior disclosure of a material weakness in internal controls (in the 2025 Form 10-K) and watch for upcoming audited financial statements and any auditor communications from Crowe LLP that could address controls, audit scope, or findings.