The Federal Deposit Insurance Corp. has decided that four banks started by Capitol Bancorp Ltd. should not bear financial responsibility for the failure of a Florida bank.

In disclosing its October enforcement actions last week, the FDIC included conditional approval for cross-guarantee liability waivers to three Colorado banks: Fort Collins Commerce Bank, Loveland Bank of Commerce and Larimer Bank of Commerce in Fort Collins. The FDIC extended the same type of waiver to Southern Arizona Community Bank in Tucson, Ariz.

The waivers free the banks from any attempt by the FDIC to recoup money tied to Commerce Bank of Southwest Florida, which failed in November 2009. The agency has said that the bank was controlled by the $5.1 billion-asset Capitol, though the company has disputed that determination.

Capitol and Commerce Bank shared directors, and Capitol once held preferred stock in the bank.

On Nov. 1, Capitol, which has headquarters in Lansing, Mich., and Phoenix, sold its 51% ownership stake in the Colorado banks to local investors. Capitol also has a sale pending for its 51% ownership stake in Southern Arizona to Grandpoint Capital Inc.

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