Capitol Bancorp Completes Divestiture of Bank of Santa Barbara
November 13 2009 - 10:45AM
PR Newswire (US)
LANSING, Mich. and PHOENIX, Nov. 13 /PRNewswire-FirstCall/ --
Capitol Bancorp Limited (NYSE:CBC) announced that it has completed
the sale of Bank of Santa Barbara to a local investor group led by
veteran southern California banker Eloy Ortega. Capitol's Chairman
and CEO Joseph D. Reid said, "We are pleased to have completed this
strategic divestiture. The sale will assist Capitol in its
continuing efforts to enhance balance sheet strength." About
Capitol Bancorp Limited Capitol Bancorp Limited (NYSE:CBC) is a
$5.4 billion national community banking company, with a network of
separately chartered banks in 17 states. Founded in 1988, Capitol
Bancorp Limited has executive offices in Lansing, Michigan, and
Phoenix, Arizona. DATASOURCE: Capitol Bancorp Limited CONTACT:
Analyst: Michael M. Moran, Chief of Capital Markets,
1-877-884-5662; Media: Stephanie Swan, Director of Shareholder
Services, +1-517-487-6555 Web Site: http://www.capitolbancorp.com/
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