Capitol Bancorp Limited (CBCR: OTC Link) | Capitol Bancorp Completes the Divestiture of Its Interest in Colorado-based Mountain View Bank of Commerce

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

Jan 30, 2012

OTC Disclosure News Service

Lansing, MI –

Capitol Bancorp Completes the Divestiture of Its Interest in

Colorado-based Mountain View Bank of Commerce

 

LANSING, Mich., and PHOENIX, Ariz.: January 30, 2012: Capitol Bancorp Limited (OTCQB: 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.

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The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/CBCR/news?id=41908

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