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Capitol Bancorp Announces Adams Dairy Bank Sale

January 12, 2010 (FinancialWire) — Capitol Bancorp Ltd. (NYSE: CBC) said 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.

Capitol’s chairman and CEO Joseph D. Reid said, “This bank sale supports our ongoing strategy to harness resources and preserve capital as we continue to address the current economic environment.”

Capitol Bancorp is a national community banking company with a network of separately chartered banks in 17 states. Capitol Bancorp has executive offices in Lansing, Michigan, and Phoenix, Arizona.

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