Capitol Bancorp Reveals Sale Of Bank Of Las Colinas - Quick Facts Friday January 15, 2010 09:40:00 EST (RTTNews) - Capitol Bancorp Limited (CBC) announced that it has entered into a stock redemption agreement with Bank of Las Colinas to sell its 51 percent interest in the bank. The transaction is expected to be completed in 2010.
Capitol's Chairman and CEO Joseph D. Reid said, "We are pleased to have another opportunity to strengthen our consolidated equity and core capital ratios and also enable Bank of Las Colinas to retain its autonomy and secure additional local ownership."