January 19, 2010 (FinancialWire) — Capitol Bancorp Ltd. (NYSE: CBC said it has entered into a stock redemption agreement with Bank of Las Colinas to sell its 51 percent interest in the bank. company CEO Joseph D. Reid said the move would strengthen his company’s consolidated equity and core capital ratios and also enable Bank of Las Colinas to “retain its autonomy and secure additional local ownership.”

The transaction is scheduled to be completed in 2010.   

Michigan-based Capitol Bancorp is a national community banking company with a network of separately chartered banks in 17 states. Capitol Bancorp has executive offices in Lansing, Michigan, and Phoenix, Arizona.

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