8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  April 24, 2007

CAPITOL BANCORP LTD.

(Exact name of registrant as specified in its charter)

Michigan (State or other jurisdiction of  incorporation)   001-31708 (Commission File No.)   38-2761672 (IRS Employer Identification No.)  

Capitol Bancorp Center

200 Washington Square North, Lansing, Michigan 48933

(Address of Principal Executive Offices)  (Zip Code)

(517) 487-6555

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01. Regulation FD Disclosure.

On April 24, 2007, Capitol Bancorp Ltd. announced a quarterly dividend of $0.25 per share, payable June 1, 2007, to shareholders of record as of May 7, 2007. The announcement is attached as Exhibit 99.1 to this Item 7.01.

SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

            Date:  April 24, 2007 CAPITOL BANCORP LTD. (Registrant)    /s/ Joseph D. Reid                                                                   Joseph D. Reid Chief Executive Officer

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INDEX TO EXHIBITS

Exhibit No.	Description of Exhibit
99.1	Press Release dated April 24, 2007

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EX-99.1 CHARTER

EXHIBIT 99.1

        Capitol Bancorp Center 200 Washington Square North Lansing, MI 48933   2777 East Camelback Road Suite 375 Phoenix, AZ 85016 www.capitolbancorp.com                                              

Analyst Contact:       Media Contact: Michael M. Moran Chief of Capital Markets 877-884-5662   Joal Redmond Corporate Communications 602-977-3797

 

For Immediate Release

Capitol Bancorp Declares 59th Consecutive Quarterly Cash Dividend

LANSING, Mich., and PHOENIX, Ariz.: April 24, 2007: The Board of Directors of Capitol Bancorp Limited (NYSE:CBC) today announced the Corporation’s 59th consecutive quarterly cash dividend at $0.25 per common share, consistent with dividends paid during the past four quarters. The dividend is payable June 1, 2007, to shareholders of record as of May 7, 2007.

Capitol Bancorp’s Chairman and CEO, Joseph D. Reid, said the dividend payment reflects the Corporation’s ongoing commitment to its shareholders. “Capitol Bancorp is a growth company and as such, we continue to look for opportunities to diversify our geographic footprint while ensuring that our existing banks have the guidance and assistance they need to deliver positive results,” said Reid. “We also are cognizant of our shareholders’ objectives and therefore have elected to provide, in the form of a cash dividend, a tangible acknowledgement of their commitment to Capitol Bancorp.”

The Corporation opened two new community banks during the first quarter and currently has applications pending for six de novo community banks in California, Colorado, New York, Oregon and Washington.

About Capitol Bancorp Limited

Capitol Bancorp Limited (NYSE: CBC) is a $4.3 billion national community bank development company, with a network of more than 50 separately chartered banks and bank operations in 14 states. It is the holder of the most individual bank charters in the country. Capitol Bancorp Limited identifies opportunities for the development of new community banks, raises capital for and mentors new community banks through their formative stages, and provides efficient services to its growing network of community banks. Each community bank has full local decision-making authority and is managed by an on-site president under the direction of a local board of directors, composed of business leaders from the bank’s community. Founded in 1988, Capitol Bancorp Limited has executive offices in Lansing, Michigan, and Phoenix, Arizona.

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