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 23, 2009

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 23, 2009, Capitol Bancorp Ltd. announced the retention of Keefe, Bruyette & Woods as a financial advisor to the Corporation for the evaluation of current affiliate divestiture opportunities.  The announcement is attached as Exhibit 99.1 to this Item 7.01.

Item 9.01.  Financial Statements and Exhibits.

(d)   Exhibits

99.1 Press Release of Capitol Bancorp Limited dated April 23, 2009.

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 23, 2009 CAPITOL BANCORP LTD. (Registrant)     /s/ Cristin K. Reid                                                        Cristin K. Reid Corporate President

2

INDEX TO EXHIBITS

Exhibit No.	Description of Exhibit
99.1	Press Release dated April 23, 2009

3

EX-99.1

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:       KBW Contact:   Michael M. Moran Chief of Capital Markets 877-884-5662   Stephanie Swan Director of Shareholder Services 517-372-7402   Steven P. Kent Managing Director 877-298-6520 (After 4/27/09)  

FOR IMMEDIATE DISTRIBUTION

Capitol Bancorp Announces Retention of Keefe, Bruyette & Woods

LANSING, Mich., and PHOENIX, Ariz.: April 23, 2009:  Capitol Bancorp Limited (NYSE: CBC), announced today the retention of Keefe, Bruyette & Woods as a financial advisor to the Corporation for the evaluation of current affiliate divestiture opportunities.

Capitol Bancorp’s Chairman and CEO Joseph D. Reid said, “KBW’s national presence, expertise and counsel will greatly enhance our analysis and assessment of several opportunities that Capitol is evaluating at this time.”

About Capitol Bancorp Limited

Capitol Bancorp Limited (NYSE: CBC) is a $5.8 billion national community banking company, with a network of separately chartered banks in 17 states.  It is the holder of the most individual bank charters in the country. Founded in 1988, Capitol Bancorp Limited has executive offices in Lansing, Michigan, and Phoenix, Arizona.

About KBW

KBW(NYSE: KBW) operates in the U.S. and Europe through its broker dealer subsidiaries, Keefe, Bruyette & Woods, Inc. and Keefe, Bruyette & Woods Limited.  It also offers asset management services through KBW Asset Management, Inc.  Founded in 1962, the firm is widely recognized as a leading authority in the banking, insurance, brokerage, asset management, mortgage banking and specialty finance sectors.  The firm has established industry-leading positions in the areas of research, corporate finance, mergers and acquisitions as well as sales and trading for financial services companies.