Point Loma Community Bank (In Organization) Receives Preliminary DFI Approval to Organize, Announces Proposed Board of Directors and Management Team
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
POINT LOMA, Ca.: May 21, 2004: Point Loma Community Bank (PLCB) has received approval from the California Department of Financial Institutions (DFI), to organize and begin raising a minimum of $8,000,000 in initial investment capital. Dave Hall, President of PLCB (In Organization) said he was very pleased with the timeliness of the approval by the DFI, and will begin raising capital immediately.
Hall is a 30-year career banker, having spent his entire career in and around the Point Loma area. He will be joined by the following local business and community leaders on the bank's board of directors:
| William T. Fiedler | President of Fiedler Construction, Inc. |
| Harold Grafton | President of Cement Cuttings, Inc. |
| Theodore Griffith | President of Pacific Tugboat and Pearson Marine |
| Marcia Haas | Property Management |
| Julius S. Paeske, Jr. | President of Commercial Facilities, Inc. |
| Mark A. Winkler | Real Estate Broker |
Also serving on the board of directors will be the following officers of Capitol Bancorp Limited, a $2.9 billion community bank development company, with 31 individual bank charters operating in nine states:
| John S. Lewis (Chairman) | President, Western Regions of Capitol Bancorp Limited |
| Scott R. Andrews | President & COO of First California Southern Bancorp |
"I'm pleased to announce that longtime Point Loma resident and banker Dinisa Valadao will join the team as Assistant Vice President, Personal Banking Officer, and former Peninsula Bank commercial lending officer, Hector Zatarain has been named Executive Vice President, Chief Lending Officer," said Hall.
Assuming the bank raises sufficient capital and receives the approval of the commissioner to conduct banking business, the bank will be located at 1350 Rosecrans Street in the heart of Point Loma and will focus on serving small to medium-sized businesses within Point Loma and the surrounding communities. The bank will offer relationship banking via a full range of loan and deposit products.
About Capitol Bancorp Limited
Capitol Bancorp Limited is 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 approximated $2.9 billion at March 31, 2004. Capitol is one of the nation's largest community banking organizations, with 31 affiliate community banks operating in nine states. Based in San Diego, First California Southern Bancorp was formed in October 2002, by Capitol Bancorp Limited, to establish local community banks throughout Southern California.