Demise of Two Units Threatens Capitol Bancorp's Rescue Plan

Barba, Robert
May 2013
American Banker;5/14/2013, Vol. 178 Issue 74, p16
Trade Publication
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.


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