In Brief: Capital of Mich. Posts 95% Gain for Quarter

LANSING, Mich. - Capital Bancorp said its second-quarter earnings shot up 95% after two successful acquisitions and an improvement in mortgage banking income.

Second-quarter earnings were $664,000, bringing the six-month performance to $1.2 million, a 55% increase.

"Our banks' continued strong operating results and the positive effect of the midyear additions of banking units in Holland and Grand Haven (Mich.) contributed favorably to earnings," said Joseph D. Read, chief executive.

Capital has $350 million of assets and six subsidiary banks

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