LANSING, Mich. and PHOENIX, Nov. 13 /PRNewswire-FirstCall/ -- Capitol Bancorp Limited (NYSE: CBC - News) announced that it has completed the sale of Bank of Santa Barbara to a local investor group led by veteran southern California banker Eloy Ortega.

Capitol's Chairman and CEO Joseph D. Reid said, "We are pleased to have completed this strategic divestiture. The sale will assist Capitol in its continuing efforts to enhance balance sheet strength."

About Capitol Bancorp Limited

Capitol Bancorp Limited (NYSE: CBC - News) is a $5.4 billion national community banking company, with a network of separately chartered banks in 17 states. Founded in 1988, Capitol Bancorp Limited has executive offices in Lansing, Michigan, and Phoenix, Arizona.