Life Worsens for Capitol Bancorp Ltd.
May 14, 2013
In a very rare event the FDIC seized another unit of Capitol Bancorp Ltd. of Lansing, Michigan on Tuesday May 14, 2013. Central Arizona Bank located at 7001 N Scottsdale Road, # 1000 Scottsdale, AZ, 85253 was closed by regulators. Here is the forensics report on Central Arizona Bank,
Central Arizona Bank (CLOSED May 14, 2013)
As we noted last Friday on IRA’s Facebook page, Capitol owns a number of bank units that were potentially endangered by the downfall of two units of the holding company's portfolio. The dominoes do seem to be falling. Central Arizona Bank shared weaknesses in common with the two units that failed last week. Here are the forensic reports on them.
Sunrise Bank (CLOSED May 10, 2013)
Pisgah Community Bank (CLOSED May 10, 2013)
The $1.6B asset company owned the following banks as of December 2012 that remain in business.
Michigan Commerce Bank
Bank of Las Vegas
SUNRISE BANK OF ARIZONA
Capitol National Bank
Indiana Community Bank
Summit Bank of Kansas City
SUNRISE BANK OF ALBUQUERQUE
Bank of Maumee
1st Commerce Bank
About IRA Products and Services
IRA for Banking and Finance Professionals - We offer enterprise grade analytics and privileged process support for risk surveillance, compliance testing and investment research via subscription products such as the Professional IRA Bank Monitor. IRA also offers custom analytics services, hosted component tools, and bulk data feeds to clients for use in their internal systems. For more details, please call our Torrance, California office at (310)676-3300.
IRA for Business - Corporate risk management is an ever vigilant concern as the economy continues to evolve. We offer corporate CFO's and Treasurers online tools to monitor the health of their banking relationships whether they be credit facility providers, depository relationship banks, or investment counterparties. It doesn't whether you deal with only with TBTF's or local community banks, we cover them. Contact Diana Waters at our Torrance, California office for more details and to arrange a demo for your team.
IRA for Consumers - IRA believes that "ordinary people" matter. We provide consumers the same analysis horsepower to render banks transparent via an easy to buy online reports website at IRABankRatings.com system.
The Institutional Risk Analyst is published by Lord, Whalen LLC (LW) and may not be reproduced, disseminated, or distributed, in part or in whole, by any means, outside of the recipient's organization without express written authorization from LW. It is a violation of federal copyright law to reproduce all or part of this publication or its contents by any means. This material does not constitute a solicitation for the purchase or sale of any securities or investments. The opinions expressed herein are based on publicly available information and are considered reliable. However, LW makes NO WARRANTIES OR REPRESENTATIONS OF ANY SORT with respect to this report. Any person using this material does so solely at their own risk and LW and/or its employees shall be under no liability whatsoever in any respect thereof.
A Professional Services Organization
Copyright 2013 - Lord, Whalen LLC - All Rights Reserved
371 Van Ness Way, Suite 110 Torrance, California 90501 310.676.3300 firstname.lastname@example.org