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Capitol Bancorp To Sell Community Bank of Lincoln Stake

January 28, 2010 (FinancialWire) — Capitol Bancorp Ltd. (NYSE: CBC) said 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.

Capitol’s chairman and CEO Joseph D. Reid said, “This sale will further our strategic objectives to reallocate capital and resources within our organization.”

The transaction is scheduled to be completed in 2010.   

Michigan-based Capitol Bancorp is a national community banking company, with a network of separately chartered banks in 17 states.

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