Capitol Bancorp 8-K 2013
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Current Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 1, 2013
CAPITOL BANCORP LTD.
(Exact Name of Registrant as Specified in its Charter)
Capitol Bancorp Center
200 Washington Square North, Lansing, Michigan 48933
(Address of Principal Executive Offices) (Zip Code)
(Registrant's Telephone Number, Including Area Code)
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Item 7.01. Regulation FD Disclosure.
On February 1, 2013, Capitol Bancorp Ltd. announced that it has entered into a binding sales agreement with Weststar Bancorp for the sale and subsequent recapitalization of Sunrise Bank of Albuquerque. Weststar Bancorp previously executed a letter of intent for the purchase of Sunrise Bank of Albuquerque in December of 2012. Weststar Bancorp expects to finalize an escrow arrangement for this transaction with a New Mexico bank before February 8, 2013. The transaction is subject to regulatory and bankruptcy court approval and expected to be completed in 2013.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.