LANSING, Mich. and PHOENIX, April 20, 2011 /PRNewswire/ — Capitol Bancorp Limited (OTCQB: CBCR) announced today that it has completed the sale of Community Bank of Rowan to Piedmont Community Bank Holdings, Inc. in Raleigh, North Carolina, which is led by long-time banker Scott Custer.

Capitol’s Chairman and CEO Joseph D. Reid said, “Under the leadership of President and CEO Bruce Jones, Community Bank of Rowan has consistently delivered first-rate community banking services.  We are pleased to have partnered with the entire team to establish the bank and wish them continued success in the future.”

“This sale furthers our strategic initiative to deleverage the balance sheet and effectively reallocate equity capital across our community bank network,” added Reid.

At December 31, 2010, Community Bank of Rowan had total assets of approximately $ 140 million.

About Capitol Bancorp Limited

Capitol Bancorp Limited is a national community banking company with a network of separately chartered banks in 14 states. Founded in 1988, Capitol Bancorp Limited has executive offices in Lansing, Michigan, and Phoenix, Arizona.

SOURCE Capitol Bancorp Limited