LANSING and HOLLAND, MICH. -- In a joint announcement, Capitol Bancorp and Financial Center Corp. said that the merger of the two companies was approved by the shareholders of each.
Under the terms of the merger, $50 million-asset Financial Center, Holland, parent of Paragon Bank and Trust, will join $250 million-asset Capitol Bancorp, Lansing.
The merger, subject to regulatory approvals, is expected to be completed in Mid-June.