Bank of Escondido Opens For Business
on Grand Avenue in Downtown Escondido
Capitol Bancorp Center
200 Washington Sq. North
Lansing, MI 48933
2777 East Camelback Road
Suite 375
Phoenix, AZ 85016
Analyst Contact:
Michael M. Moran
Chief of Capital Markets
877-884-5662
Media Contact:
Joal Redmond
Corporate Communications
602-977-3797
Escondido, Calif.: October 14, 2003: Bank of Escondido opened its doors for business today in downtown Escondido at 200 West Grand Avenue. The bank focuses on serving small to medium-sized businesses in Escondido and the surrounding communities of North San Diego County. The bank also specializes in relationship banking and offers businesses and individuals a full range of loan and deposit products.
"We are excited to officially become part of the local community - a community where I have had my roots for the past 32 years," said Mike Peters, president and CEO of the new bank. "Based on many different indicators, including raising $9.9 million in start-up capital in less than three days, we know there's a definite appeal for a full service community bank in this area."
In addition to traditional bank services such as loan and deposit products, Bank of Escondido also offers Internet banking, bill pay and cash management services. An on-site ATM, safe deposit boxes and a night depository are offered.
"We have already received tremendous support from the community and have a board of directors and a management team in place that reflects our focus on being an integral part of this community," added Peters.
The bank's board of directors is composed of Peters and the following local business and community leaders:
| Michael F. Murphy | President of Computer Protection Technology |
| Richard J. Fleck | President of Southland Paving |
| Marvin L. Gilbert | President of North County Insurance |
| Mark E. Hayes | Certified Public Account - Mark Hayes, CPA |
| Ronald G. Guiles | Former Superintendent, Escondido Elementary School District |
| L. Richard Greenstein, M.D. | Medical Director, Escondido Surgery Center |
| Robert M. Cahan | President of Cahan Properties |
Members of the Bank of Escondido management team include:
| Glenn Marshall | Executive Vice President & Chief Credit Officer |
| Chris Burt | Vice President of Lending |
| Linda Blakley | Vice President of Operations |
Bank of Escondido is open 9:00 - 5:00 Monday through Thursday, and 9:00 - 6:00 on Friday.
Bank of Escondido is the 30th affiliate of Capitol Bancorp Limited, a publicly traded (NYSE:CBC) bank development company that is headquartered in Lansing, Michigan and Phoenix, Arizona. On a consolidated basis, Capitol's total assets exceeded $2.6 billion at June 30, 2003. Capitol Bancorp Limited is one of the nation's largest community banking organizations, with 30 affiliate community banks operating in eight states.