A Michigan banker plans to open his second new bank in Arizona in the coming months, signaling a resurgence in community banking in the state.

"The Arizona banking industry has really taken it on the chin," said Joseph D. Reid, chairman of Capitol Bancorp of Lansing, Mich., who is leading the start-up effort. "Normally when an industry drops that far it's only a matter of time before it revives. We're hitting this at precisely the right time."

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