LANSING, Mich., and ROSEVILLE, Calif., April 30 /PRNewswire-FirstCall/ -- Capitol Bancorp Limited and Rabobank, N.A. today jointly announced that they have completed the sale of Capitol's California-based affiliate, Napa Community Bank, to Rabobank, N.A., a community bank with over 100 California locations.
"We welcome Napa Community Bank customers and employees to the Rabobank family," said Ronald Blok, CEO of Rabobank, N.A. "We are excited about the opportunity to serve customers here with new products and services and the resources that come with Rabobank."
Capitol's Chairman and CEO Joseph D. Reid said, "We are pleased with the progress of our widely publicized divestiture program. This sale is the third transaction to be completed within a week, enabling Capitol Bancorp to efficiently reallocate more than $30 million of equity capital that can now be redeployed to those affiliates that continue to face economic challenges."
About Capitol Bancorp Limited
Capitol Bancorp Limited is a $5.1 billion national community banking company with a network of separately chartered banks in 16 states. Founded in 1988, Capitol Bancorp Limited has executive offices in Lansing, Michigan, and Phoenix, Arizona.
About Rabobank, N.A.
Rabobank, N.A. is a California community bank that provides personalized service and a full array of quality products to individuals, businesses, organizations and agricultural clients. With 93 retail branches and 15 financial service centers, we serve the needs of communities from Sacramento to the Imperial Valley through local decision making and active community involvement by our employees. http://www.rabobankamerica.com/
Capitol Bancorp Limited
CONTACT: Analysts: Michael M. Moran, Chief of Capital Markets,
+1-877-884-5662, Media: Stephanie Swan, Director of Shareholder Services,
+1-517-487-6555; Rabobank Media: Sean Dowdall, Executive Director of Marketing
, +1-916-865-8301, sean.dowdall@rabobank.com
Web Site: http://www.capitolbancorp.com/
