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Article: Michigan Commerce Bank Consolidation.

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PR Newswire
Article date:
March 31, 2009
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LANSING, Mich., and PHOENIX, March 31 /PRNewswire-FirstCall/ -- Capitol Bancorp Limited , announced today that eight of its wholly owned bank affiliates will be consolidated into its largest bank affiliate, Ann Arbor Commerce Bank. The consolidated bank has been renamed Michigan Commerce Bank to reflect its state-wide operations.

Capitol Bancorp's Chairman and CEO Joseph D. Reid said, "Michigan Commerce Bank has been formed to serve our Michigan communities from 'coast to coast'. The formation of a single entity highlights our strategy to conserve capital and increase operational efficiencies in the state of Michigan. This strategic action allows us to ...

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