LANSING, Mich. and PHOENIX, June 30
/PRNewswire-FirstCall/ -- Capitol Bancorp Limited (NYSE: CBC)
announced that it has completed the sale of its interest in Ohio
Commerce Bank to a group of local investors.
Capitol's Chairman and CEO Joseph D.
Reid said, "This transaction reinforces our strategic
objective to divest select affiliates and reallocate equity capital
within our network of banks. To date our divestiture campaign
has yielded five consummated transactions in addition to eleven
pending transactions that collectively encompass more than
$1.2 billion in affiliate
assets."
At March 31, 2010, Ohio Commerce
Bank had total assets of approximately $70.3
million and total equity of approximately $9.6 million.
About Capitol Bancorp Limited
Capitol Bancorp Limited (NYSE: CBC) is a national
community banking company with a network of separately chartered
banks in 16 states. Founded in 1988, Capitol Bancorp Limited has
executive offices in Lansing,
Michigan, and Phoenix,
Arizona.
SOURCE Capitol Bancorp Limited