LANSING, Mich. and PHOENIX, July 30 /PRNewswire-FirstCall/ -- Capitol Bancorp Limited (NYSE: CBC) announced that it has completed the sale of its interest in Community Bank of Lincoln to a group of local investors.
Capitol's Chairman and CEO Joseph D. Reid said, "We are pleased to complete this sale, which has unlocked additional capital that will be utilized to support our affiliate network."
At March 31, 2010, Community Bank of Lincoln had total assets of approximately $59.4 million and total equity of approximately $5.1 million.
About Capitol Bancorp LimitedCapitol Bancorp Limited (NYSE: CBC) is a national community banking company with a network of separately chartered banks in 15 states. Founded in 1988, Capitol Bancorp Limited has executive offices in Lansing, Michigan, and Phoenix, Arizona.
SOURCE Capitol Bancorp Limited