News 2008

November 14, 2008:: Capitol Bancorp Declares 65th Consecutive Quarterly Cash Dividend
LANSING, Mich., and PHOENIX, Ariz.: November 14, 2008: The Board of Directors of Capitol Bancorp Limited (NYSE:CBC) today announced the Corporation’s 65th consecutive quarterly cash dividend. The dividend declared today of $0.05 per common share is payable December 5, 2008, to shareholders of record as of November 24, 2008.
October 16, 2008:: Capitol Bancorp Reports Third Quarter Results; Announces Special Provisioning to Strengthen Balance Sheet; Michigan Strategic Initiatives Underway
LANSING, Mich., and PHOENIX, Ariz.: October 16, 2008: Capitol Bancorp reported today a major restructure of its 13 bank Michigan operation and an aggressive initiative to meet the significantly weakened condition of the Michigan market. First, Capitol will undertake three mergers of Michigan banks, reducing the number from 13 to 9 separate banking institutions. Second, Capitol, driven by its strong balance sheet, has accelerated the identification and resolution of weakened credits held by various banks, primarily in the Michigan market.
September 9, 2008:: Capitol Bancorp Limited Announces Plans to Support New Community Bank in Pittsburgh
LANSING, Mich., and PHOENIX, Ariz.: Sept. 09, 2008: Capitol Bancorp Limited (NYSE: CBC), a $5.3 billion national community bank development company, announced today that it will provide start-up and management support for a new community bank being organized in Pittsburgh.
August 13, 2008:: Capitol Bancorp to Present at Howe Barnes Hoefer & Arnett Thirteenth Annual Community Bank Conference in Chicago, August 19
LANSING, Mich., and PHOENIX, Ariz.: August 13, 2008: Capitol Bancorp Limited (NYSE:CBC) will be a featured presenter at the Thirteenth Annual Community Bank Conference hosted by Howe Barnes Hoefer & Arnett in Chicago on August 19, 2008.
August 8, 2008:: Capitol Bancorp Declares 64th Consecutive Quarterly Cash Dividend, But Reduces Payout to Harvest Capital Resources
LANSING, Mich., and PHOENIX, Ariz.: August 8, 2008: The Board of Directors of Capitol Bancorp Limited (NYSE:CBC) today announced the Corporation's 64th consecutive quarterly cash dividend. The dividend declared today of $0.05 per common share is payable September 1, 2008, to shareholders of record as of August 15, 2008. The most recent dividend paid June 2, 2008 was $0.15 per common share.
July 30, 2008:: Capitol Bancorp Limited Announces Closing of Underwriters' Over-Allotment Option
LANSING, Mich., and PHOENIX, Ariz.: July 30, 2008: Capitol Bancorp Limited (NYSE: CBC) announced today that on July 24, 2008, the underwriters of its recent public offering of trust preferred securities exercised their over-allotment option and have purchased an additional 455,000 shares at $10 per share. The sale of the over-allotment securities closed on July 29, 2008.
July 24, 2008:: Capitol Bancorp to Present at Keefe, Bruyette & Woods Ninth Annual Community Bank Investor Conference in New York, July 29
LANSING, Mich., and PHOENIX, Ariz.: July 24, 2008: Capitol Bancorp Limited (NYSE:CBC) will be a featured presenter at the Ninth Annual Community Bank Investor Conference hosted by Keefe, Bruyette & Woods in New York City on July 29, 2008.
July 17, 2008:: Capitol Bancorp Reports Second Quarter Results
LANSING, Mich., and PHOENIX, Ariz.: July 17, 2008: Capitol Bancorp reported today earnings of $623,000 for the second quarter of 2008 and assets exceeding $5.3 billion.
July 1, 2008:: Capitol Bancorp Limited Announces Pricing of $33.5 Million of Trust Preferred Securities
LANSING, Mich., and PHOENIX, Ariz.: July 1, 2008: Capitol Bancorp Limited (NYSE: CBC), today announced that on June 30, 2008, the Corporation priced $33,500,000 aggregate liquidation amount of 10.5% Trust Preferred Securities to be issued by Capitol Trust XII, a statutory trust formed under the laws of the State of Delaware (the "Trust"), representing preferred beneficial interests in the Trust (the "Trust Preferred Securities") in an underwritten public offering at $10 per Trust Preferred Security. The Trust has also granted the underwriters a 30-day option to purchase up to 502,500 of Trust Preferred Securities to cover over-allotments, if any. The offering is scheduled to close on July 7, 2008.
June 10, 2008:: Capitol Bancorp Limited Announces Commencement of Public Offering of Trust Preferred Securities
LANSING, Mich., and PHOENIX, Ariz.: June 10, 2008: Capitol Bancorp Limited (NYSE: CBC), (the "Company") and Capitol Trust XII, a statutory trust formed under the laws of the State of Delaware (the "Trust"), today announced the commencement of an offering of $30 million aggregate liquidation amount of the Trust's preferred securities, representing preferred beneficial interests in the Trust (the "Trust Preferred Securities") for sale in an underwritten public offering. The Trust intends to grant the underwriters a 30-day option to purchase up to an additional $4.5 million aggregate liquidation amount of the Trust Preferred Securities to cover over-allotments, if any. The offering is expected to be priced later this week. The managing underwriters (the "Underwriters") of the offering are Stifel Nicolaus, Oppenheimer & Co., Howe Barnes Hoefer & Arnett, Sterne Agee, Keefe, Bruyette & Woods, and Sandler O'Neill & Partners, L.P. A copy of the preliminary prospectus supplement relating to the offering may be obtained from Stifel, Nicolaus & Company, Incorporated, One Financial Plaza, 501 North Broadway, St. Louis, Missouri, 63102 or toll free at 1-800-729-6888.
May 5, 2008:: Capitol Bancorp Opens 10th Community Bank in Arizona
LANSING, Mich., and PHOENIX, Ariz.: May 5, 2008: Capitol Bancorp Limited (NYSE: CBC), a national bank development company, announced today the opening of its 10th individually chartered community bank in Arizona, Colonia Bank, located in Phoenix.
April 30, 2008:: Capitol Bancorp Limited Announces the Consolidation of Two Michigan Affiliate Banks
LANSING, Mich., and PHOENIX, Ariz.: April 30, 2008: Capitol Bancorp Limited (NYSE: CBC), a $5.1 billion national community bank development company, announced today that it plans to consolidate two affiliate banks, Oakland Commerce Bank and Macomb Community Bank. The two southeast Michigan banks will join and operate as one.
April 24, 2008:: Capitol Bancorp Declares 63rd Consecutive Quarterly Cash Dividend
LANSING, Mich., and PHOENIX, Ariz.: April 24, 2008: The Board of Directors of Capitol Bancorp Limited (NYSE:CBC) today announced the Corporation's 63rd consecutive quarterly cash dividend. The dividend declared today of $0.15 per common share is payable June 2, 2008, to shareholders of record as of May 9, 2008.
April 17, 2008:: Capitol Bancorp Reports First Quarter Results
LANSING, Mich., and PHOENIX, Ariz.: April 17, 2008: Capitol Bancorp reported today earnings of $2.2 million for the first quarter of 2008 and assets exceeding $5 billion for the first time in its history.
March 31, 2008:: Capitol Bancorp Limited Announces the Sale of Four Michigan Affiliate Banks
LANSING, Mich., and PHOENIX, Ariz.: March 31, 2008: Capitol Bancorp Limited (NYSE: CBC), a $4.9 billion national community bank development company, announced today that it has entered into a definitive agreement to sell four affiliate banks, Grand Haven Bank, Kent Commerce Bank, Muskegon Commerce Bank and Paragon Bank & Trust, with combined assets of $420 million as of December 31, 2007, to Northstar Financial Group Inc., a Michigan-based, privately-held financial holding company.
March 18, 2008:: Capitol Bancorp Limited, Forethought Financial Group Inc. and DeGorter Capital Partners LLC Announce Joint Venture to Operate a Federally Chartered Savings Association
LANSING, Mich., and PHOENIX, Ariz.: March 18, 2008: Capitol Bancorp Limited (NYSE: CBC), a national community bank development company, announced the formation of a joint venture with Forethought Financial Group Inc. of Indianapolis, Indiana, and DeGorter Capital Partners LLC of Charlotte, North Carolina. The purpose of the joint venture is to collectively own and operate Forethought Federal Savings Bank, located in Batesville, Indiana, through the formation of a bank holding company, subject to regulatory approval.
February 20, 2008:: Capitol Bancorp Limited to Present at Midwest 2008 SuperCommunity Bank Conference in Chicago, February 26
LANSING, Mich., and PHOENIX, Ariz.: February 20, 2008: Capitol Bancorp Limited (NYSE:CBC) will be a featured presenter at the Midwest 2008 SuperCommunity Bank Conference in Chicago on Tuesday, February 26.
February 13, 2008:: Capitol Bancorp Opens Its Second Bank in 2008
LANSING, Mich., and PHOENIX, Ariz.: February 13, 2008: Capitol Bancorp Limited (NYSE: CBC), a $4.9 billion community bank development company, announced today that it has opened its fourth de novo community bank in Colorado. Mountain View Bank of Commerce, located in Westminster, is the second bank of the year to open in Capitol Bancorp's network of separately chartered banks in 17 states across the country.
February 1, 2008:: Capitol Bancorp Declares 62nd Consecutive Quarterly Cash Dividend
LANSING, Mich., and PHOENIX, Ariz.: February 1, 2008: The Board of Directors of Capitol Bancorp Limited (NYSE:CBC) today announced the Corporation's 62nd consecutive quarterly cash dividend. The dividend declared today of $0.25 per common share is payable March 3, 2008, to shareholders of record as of February 15, 2008.
January 31, 2008:: Capitol Bancorp Reports Fourth Quarter Results
LANSING, Mich. and PHOENIX, Ariz.: January 31, 2008: Corporate earnings for 2007 were $21.9 million, down 48% from reported earnings for 2006 of nearly $42.4 million. Earnings per share for the year of $1.27 decreased about 50% from the $2.57 reported in 2006. Fourth quarter net income approximated $3.4 million ($0.20 per diluted share) compared to $11.4 million ($0.68 per diluted share) in the fourth quarter of 2006.
January 8, 2008:: Capitol Bancorp Opens Its First Bank in 2008
LANSING, Mich. and PHOENIX, Ariz.: January 8, 2008: Capitol Bancorp Limited (NYSE: CBC), a $4.7 billion national community bank development company, announced today that it has opened its first de novo community bank of the year in Missouri. Adams Dairy Bank, located in Blue Springs, brings the total number of bank charters in the Capitol Bancorp network to 61 in 17 states across the country.

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