Capitol Bancorp Ltd. in Lansing, Mich., is planning to establish two banks in California.
The $3.2 billion-asset company, which owns majority stakes in nearly three dozen banks in nine states, said Monday that it had filed applications for Bank of San Francisco and Bank of Santa Barbara, both of which would focus on business customers.
The new banks would be Capitol's fifth and sixth in California. Its others are $21 million-asset Point Loma Community Bank in San Diego, $51 million-asset Bank of Escondido, $53 million-asset Sunrise Bank of San Diego and $79 million-asset Napa Community Bank.
It also has applications pending to set up banks in Michigan, Colorado, and Washington, and it recently acquired a majority stake in Peoples State Bank of Jeffersonville, Ga.
