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.
http://www.capitolbancorp.com/
Capitol Bancorp Limited
CONTACT: Analysts: Michael M. Moran, Chief of Capital Markets,
1-877-884-5662; Media: Stephanie Swan, Director of Shareholder Services,
+1-517-372-7402
Web Site: http://www.capitolbancorp.com/
