News 2010
- March 2, 2010:
- Capitol Bancorp Receives Approval to Consolidate Four California Banks
LANSING, Mich., and PHOENIX, Ariz.: March 2, 2010: Capitol Bancorp Limited (NYSE: CBC) announced today that it has received regulatory and shareholder approval to consolidate Bank of Escondido, Point Loma Community Bank, Sunrise Bank of San Diego and Sunrise Community Bank. Effective March 5, 2010, the banks will consolidate into one charter and all four locations will begin operating as Sunrise Bank on March 8, 2010.
- February 19, 2010:
- Capitol Bancorp Receives Approval to Consolidate Four Washington Banks
LANSING, Mich., and PHOENIX, Ariz.: February 19, 2010: Capitol Bancorp Limited (NYSE: CBC) announced today that it has received regulatory and shareholder approval to consolidate Bank of Bellevue, Bank of Everett, Bank of Tacoma and Issaquah Community Bank. Effective February 19, 2010, the banks will consolidate into one charter and all four locations will begin operating as Bank of the Northwest on February 22, 2010.
- February 16, 2010:
- Capitol Bancorp Announces the Planned Sale of California-Based Napa Community Bank to Rabobank
LANSING, Mich. and ROSEVILLE, Ca.: February 16, 2010: Capitol Bancorp Limited (NYSE: CBC) and Rabobank, N.A. today jointly announced the planned sale of Capitol’s California-based affiliate, Napa Community Bank, to Rabobank, a community bank with more than 100 California locations, for an initial cash consideration approximating $25 million and other contingent considerations.
- January 28, 2010:
- Capitol Bancorp Reports Year-End Results
LANSING, Mich. and PHOENIX, Ariz.: January 28, 2010: A net loss attributable to Capitol Bancorp was reported for the fourth quarter of 2009 of $50.2 million or $2.88 per share, compared to earnings of approximately $1.1 million or $0.06 per share reported for the fourth quarter of 2008. Adverse operating results in 2009 resulted from significantly increased levels of loan losses and costs associated with other real estate owned.
- January 27, 2010:
- Capitol Bancorp Announces the Sale of Nebraska-based Community Bank of Lincoln
LANSING, Mich., and PHOENIX, Ariz.: Jan. 27, 2010: Capitol Bancorp Limited (NYSE: CBC) announced today that it has entered into a definitive agreement to sell its 51 percent interest in Community Bank of Lincoln, a $60.3 million affiliate, to Lincoln, Nebraska-based NHI Financial Services, LLC, led by CEO Lee R. Stuart.
- January 21, 2010:
- Capitol Bancorp Receives Approval to Consolidate Four Nevada Banks
LANSING, Mich., and PHOENIX, Ariz.: Jan. 21, 2010: Capitol Bancorp Limited (NYSE: CBC) announced today that it has received regulatory approval to consolidate Bank of Las Vegas, Black Mountain Community Bank, Desert Community Bank and Red Rock Community Bank. Effective January 29, 2010, the banks will consolidate into one charter, Bank of Las Vegas, and all four locations will begin operating as Bank of Las Vegas on February 1, 2010.
- January 15, 2010:
- Capitol Bancorp Announces the Sale of Bank of Las Colinas
LANSING, Mich., and PHOENIX, Ariz.: Jan. 15, 2010: Capitol Bancorp Limited (NYSE: CBC) announced today that it has entered into a stock redemption agreement with Bank of Las Colinas to sell its 51 percent interest in the bank.
- January 11, 2010:
- Capitol Bancorp Announces the Sale of Adams Dairy Bank
LANSING, Mich., and PHOENIX, Ariz.: Jan. 11, 2010: Capitol Bancorp Limited (NYSE: CBC) announced today that it has entered into a stock redemption agreement with Adams Dairy Bank to sell its 51 percent interest in the bank, subject to regulatory approval.
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