SOURCE: Capitol Bancorp Limited

Capitol Bancorp Limited

January 30, 2012 15:30 ET

Capitol Bancorp Completes the Divestiture of Its Interest in Colorado-Based Mountain View Bank of Commerce

LANSING, MI and PHOENIX, AZ--(Marketwire - Jan 30, 2012) - Capitol Bancorp Limited (OTCQB: CBCR) (PINKSHEETS: CBCR) announced today that it has completed the sale of its interest in Mountain View Bank of Commerce to Lincoln, Nebraska-based NBC Bancshares, led by CEO Lee R. Stuart.

Capitol's Chairman and CEO Joseph D. Reid said, "We are pleased to have supported President Andy Ellison and the Mountain View Bank of Commerce team. On behalf of Capitol, I wish the bank further success as they continue to serve the financial needs of the Westminster community."

The completion of this transaction, coupled with the prior divestitures of Fort Collins Commerce Bank, Larimer Bank of Commerce and Loveland Bank of Commerce constitutes Capitol's exit from the Colorado market and the collective divestiture of assets aggregating nearly $300 million within the state.

"The completion of this transaction furthers our deleveraging and capital reallocation initiatives," added Reid.

About Capitol Bancorp Limited
Capitol Bancorp Limited is a national community banking company with a network of separately chartered banks in 10 states. Founded in 1988, Capitol Bancorp Limited has executive offices in Lansing, Michigan, and Phoenix, Arizona.

Capitol Bancorp Center
200 Washington Square North
Lansing, MI 48933

2777 East Camelback Road
Suite 375
Phoenix, AZ 85016

Contact Information

  • Analyst Contact:
    Michael M. Moran
    Chief of Capital Markets

    Media Contact:
    Angela Kimber
    Director of Communications