TITLE

Demise of Two Units Threatens Capitol Bancorp's Rescue Plan

AUTHOR(S)
Barba, Robert
PUB. DATE
May 2013
SOURCE
American Banker;5/14/2013, Vol. 178 Issue 74, p16
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on Capitol Bancorp, a multibank holding company that filed for Chapter 11 bankruptcy in Michigan in August 2012 and on the Federal Deposit Insurance Corp.'s (FDIC's) closing of two of Capitol's bank units. The article notes the FDIC can bill the company's nine surviving units for the expected $26.2 million cost of the failures to the Deposit Insurance Fund. The failed banks are Pisgah Community Bank in North Carolina and Sunrise Bank in Georgia.
ACCESSION #
87603828

 

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