LANSING, Mich., and
PHOENIX, Jan. 26, 2011 /PRNewswire/ -- Capitol Bancorp
Limited ("Capitol") announced today that its common stock will
begin trading under the new symbol "CBCR" beginning Thursday, January 27, 2011 on the OTCQB.
The OTCQB is a market tier for OTC traded companies that are
registered and reporting with the Securities and Exchange
Commission.
As previously announced on January 19,
2011, Capitol has been advised by OTC Markets Group Inc.,
which operates the world's largest electronic marketplace for
broker-dealers to trade unlisted stocks, that its common stock, the
8.5% cumulative trust-preferred securities issued by Capitol Trust
I and the 10.5% trust-preferred securities issued by Capitol Trust
XII are immediately eligible for quotation on the OTCQB tier.
The new trading symbol assigned to Capitol Trust I is "CBCRP"
and the new trading symbol for Capitol Trust XII is "CBCRO".
Investors can now view Level II Real Time stock quotes for
Capitol at http://www.otcmarkets.com.
About Capitol Bancorp Limited
Capitol Bancorp Limited is a national community banking company,
with a network of bank operations in 14 states. Founded
in 1988, Capitol Bancorp Limited has executive offices in
Lansing, Michigan and Phoenix, Arizona.
Cautionary Statement and Certain Risk Factors to
Consider
Certain information contained in the attached press release may
include "forward-looking statements." These
forward-looking statements relate to Capitol's plans for raising
capital, including transactions described in the attached press
release, the conditions necessary for closing on proposed capital
investments and the exchange offers for common shares, Capitol's
future growth and market position and the execution of its business
plans. There can be no assurance that Capitol will be
able to close on the transactions with investors and obtain
required capital, or that other actual results, performance or
achievements of Capitol will not differ materially from those
expressed or implied by forward-looking
statements. Factors that could cause actual events or
results to differ significantly from those described in the
forward-looking statements include, but are not limited to,
Capitol's ability to complete the transactions announced today and
other aspects of Capitol's recapitalization and recovery
plans. For details on these and other factors that could
affect expectations, see the cautionary language included under the
headings "Risk Factors" and "Management's Discussion and Analysis
of Financial Condition and Results of Operations" in Capitol's
Annual Report on Form 10-K for the year ended December 31, 2009, the Corporation's Quarterly
Report on Form 10-Q for the quarter ended September 30, 2010, and other filings with the
SEC.
www.capitolbancorp.com
SOURCE Capitol Bancorp Limited