Nov. 1, 2010
/PRNewswire-FirstCall/ -- Capitol Bancorp Limited (NYSE: CBC) announced today that it has completed the sale of its 51 percent interests in three
-based banks, Fort Collins Commerce Bank,
of Commerce and Loveland Bank of Commerce.
Capitol Bancorp's Chairman and CEO
Joseph D. Reid
said, "We are pleased to complete this transaction, which advances our well-publicized initiative to deleverage our consolidated balance sheet and redistribute capital within our multi-state network of community banks."
"Under the leadership of Fort Collins Commerce Bank President and CEO
, who also oversees the Loveland Bank of Commerce team, and
of Commerce President and CEO
, the banks have developed a strong presence in the
market through their delivery of exceptional customer service. We wish the banks success as they continue to build their current operations," commented Reid.
September 30, 2010
, the three banks had total assets of approximately
About Capitol Bancorp Limited
Capitol Bancorp Limited (NYSE: CBC) is a
national community banking company, with a network of bank operations in 14 states. Founded in 1988, Capitol Bancorp Limited has executive offices in
SOURCE Capitol Bancorp Limited