Capitol Bancorp in Lansing, Mich., announced Wednesday that it has hired Clinton D. Dunn as a regional president to help the $3.7 billion-asset company grow in Texas.
Mr. Dunn has 25 years of upper-level management experience in the Texas banking industry, most recently as the Dallas regional chief executive officer for the $3.8 billion-asset Sterling Bancshares Inc. of Houston. Capitol, a multibank holding company, has loan production offices in Texas but has no banks or branches there. One of Mr. Dunn's tasks will be to organize a start-up community bank there to be funded by local investors and run by local bankers.
"We believe there is tremendous opportunity in Texas," Joseph D. Reid, Capitol's chairman and CEO, said in a press release. "The recent wave or merger and acquisition activity in Texas is a shift away from community banking and we view that as an opportunity to accelerate our development efforts there."
