Capitol Bancorp Limited (CBCR: OTC Link) | Capitol Bancorp Completes the Divestiture of Its Interest in Texas-based Bank of Las Colinas

Capitol Bancorp Completes the Divestiture of Its Interest in Texas-based Bank of Las Colinas

Oct 27, 2011

OTC Disclosure News Service

Lansing, MI –

Capitol Bancorp Completes the Divestiture of Its Interest in

Texas-based Bank of Las Colinas

 

LANSING, Mich., and PHOENIX, Ariz.: October 27, 2011: Capitol Bancorp Limited (OTCQB: CBCR) announced today that it has completed the sale of its interest in Bank of Las Colinas. 

 

Capitol’s Chairman and CEO Joseph D. Reid said, “Under the direction of President Gerold Hooker, the Bank of Las Colinas team has developed a community banking niche in the Irving market.  On behalf of Capitol, I wish the bank continued success for years to come.”

 

The completion of this transaction, coupled with the prior divestiture of Bank of Fort Bend, constitutes Capitol’s exit from the Texas market and the collective divestitures of nearly $84 million within the state.

 

“This is our third successful divestiture this month, and twenty-first overall, furthering our continued deleveraging and capital reallocation initiatives,” commented Reid. 

 

About Capitol Bancorp Limited

Capitol Bancorp Limited is a national community banking company with a network of separately chartered banks in 11 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=37141

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