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CBC > SEC Filings for CBC > Form 10-Q on 9-Nov-2009All Recent SEC Filings

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Form 10-Q for CAPITOL BANCORP LTD


9-Nov-2009

Quarterly Report


MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS

The following discussion and analysis is intended as a review of significant factors affecting the financial condition and results of operations of Capitol for the periods indicated. The discussion should be read in conjunction with the unaudited condensed consolidated financial statements and the notes thereto presented herein. In addition to historical information, the following Management's Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements that involve risks and uncertainties. Capitol's actual results could differ significantly from those anticipated in these forward-looking statements as a result of certain factors discussed in this report. Please refer to commentary regarding forward-looking statements appearing on page 2 of this document.

Financial Condition

Total assets approximated $5.3 billion at September 30, 2009 and $5.7 billion at
December 31, 2008. The balance sheet includes Capitol and its consolidated
subsidiaries (in thousands):

                                                      Total Assets
                                       September 30, 2009       December 31, 2008
    Arizona Region:
    Arrowhead Community Bank          $             77,223     $            80,606
    Asian Bank of Arizona                           40,202                  38,127
    Bank of Tucson                                 206,996                 189,869
    Camelback Community Bank                        89,859                  93,754
    Central Arizona Bank                            88,347                  79,775
    Colonia Bank                                    12,786                  12,522
    Mesa Bank                                      206,423                 248,262
    Southern Arizona Community Bank                 89,568                  88,146
    Sunrise Bank of Albuquerque                     79,724                  81,977
    Sunrise Bank of Arizona                        112,318                 119,395
    Yuma Community Bank(3)                                                  73,028
    Arizona Region Total                         1,003,446               1,105,461

    California Region:
    Bank of Escondido                              106,147                  96,803
    Bank of Feather River                           34,014                  29,218
    Bank of San Francisco                           81,270                  74,670
    Bank of Santa Barbara(2)                                                72,076
    Napa Community Bank                            163,014                 149,093
    Point Loma Community Bank                       75,167                  61,514
    Sunrise Bank of San Diego                       84,048                  86,322
    Sunrise Community Bank                          42,323                  36,139
    California Region Total                        585,983                 605,835

    Colorado Region:
    Fort Collins Commerce Bank                      88,504                  80,247
    Larimer Bank of Commerce                        90,146                  88,725
    Loveland Bank of Commerce                       38,944                  32,034
    Mountain View Bank of Commerce                  46,226                  37,740
    Colorado Region Total                          263,820                 238,746

    Great Lakes Region:
    Bank of Auburn Hills                            36,124                  43,856
    Bank of Maumee                                  50,048                  56,812
    Bank of Michigan                               107,384                  78,716
    Capitol National Bank                          227,743                 245,354
    Elkhart Community Bank                          96,550                  99,917
    Evansville Commerce Bank                        56,601                  63,228
    Goshen Community Bank                           80,393                  87,419
    Michigan Commerce Bank(1)                    1,187,487               1,275,125
    Ohio Commerce Bank                              63,716                  60,678
    Paragon Bank & Trust                           102,479                 107,491
    Great Lakes Region Total                     2,008,525               2,118,596

Page 20 of 49

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