Michigan
|
|
001-31708
|
|
38-2761672
|
(State or other jurisdiction
|
|
(Commission
|
|
(IRS Employer
|
of incorporation)
|
|
File Number)
|
|
Identification No.)
|
|
|
|
|
|
Capitol Bancorp Center
|
||||
200 N. Washington Sq., Lansing, MI
|
||||
(Address of principal executive offices)
|
||||
|
||||
48933
|
||||
(Zip Code)
|
·
|
all of Capitol's subordinated debentures in the aggregate amount outstanding of approximately $184,549,000, including accrued unpaid interest; and
|
·
|
all of Capitol's unsecured senior notes in the aggregate amount outstanding of approximately $6,884,000, including accrued unpaid interest.
|
Item 9.01. | Financial Statements and Exhibits. |
(d)
|
Exhibits.
|
99.1 | Press Release of Capitol Bancorp Ltd. dated August 9, 2012. |
|
|
CAPITOL BANCORP LTD.
|
||
|
|
|
||
|
|
|
||
Date: August 9, 2012
|
|
By:
|
|
/s/ Cristin K. Reid
|
|
|
|
|
Cristin K. Reid
|
|
|
|
|
Corporate President
|
99.1 | Press Release of Capitol Bancorp Ltd. dated August 9, 2012. |
Capitol Bancorp Center
|
||
200 Washington Square North
|
||
Lansing, MI 48933
|
||
www.capitolbancorp.com
|
||
Analyst Contact: Michael M. Moran
|
||
Chief of Capital Markets | ||
877-884-5662
|
||
Media Contact: Stephanie Swan
|
||
Director of Shareholder Services | ||
517-372-7402 | ||
Ø
|
After removing the impact of bank divestitures:
|
·
|
On-going notable declines in both nonperforming loans and other nonperforming assets: down 15 percent and 12 percent, respectively, linked-quarter and 25 percent and 18 percent, respectively, from year-end.
|
·
|
The provision for loan losses decreased nearly 95 percent from the same quarter of 2011.
|
·
|
On a linked-quarter basis, a comparable positive trend was reflected in the provision for loan losses (down nearly 78 percent).
|
·
|
Continued margin improvement, increasing eight basis points linked-quarter and 21 basis points year-over-year.
|
·
|
Employee compensation and benefits expense decreased 12 percent from the same period in 2011.
|
·
|
Total operating expenses declined 13 percent year-over-year.
|
CAPITOL BANCORP LIMITED
|
||||||||||||||||||||
SUMMARY OF SELECTED FINANCIAL DATA
|
||||||||||||||||||||
(in thousands, except share and per-share data)
|
||||||||||||||||||||
|
||||||||||||||||||||
|
Three Months Ended
|
Six Months Ended
|
||||||||||||||||||
|
June 30
|
June 30
|
||||||||||||||||||
|
2012
|
2011
|
2012
|
2011
|
||||||||||||||||
|
||||||||||||||||||||
Condensed consolidated results of operations:
|
||||||||||||||||||||
Interest income
|
$
|
19,941
|
$
|
24,609
|
$
|
41,179
|
$
|
51,100
|
||||||||||||
Interest expense
|
5,992
|
8,843
|
13,001
|
18,438
|
||||||||||||||||
Net interest income
|
13,949
|
15,766
|
28,178
|
32,662
|
||||||||||||||||
Provision for loan losses
|
294
|
5,736
|
1,160
|
17,216
|
||||||||||||||||
Noninterest income
|
3,677
|
4,893
|
7,006
|
25,581
|
||||||||||||||||
Noninterest expense
|
28,024
|
32,190
|
53,774
|
66,391
|
||||||||||||||||
Loss from continuing operations before income
|
||||||||||||||||||||
taxes
|
(10,692
|
)
|
(17,267
|
)
|
(19,750
|
)
|
(25,364
|
)
|
||||||||||||
Income (loss) from discontinued operations
|
15
|
(648
|
)
|
97
|
2,429
|
|||||||||||||||
|
||||||||||||||||||||
Net loss attributable to Capitol Bancorp Limited
|
$
|
(10,339
|
)
|
$
|
(16,438
|
)
|
$
|
(18,251
|
)
|
$
|
(16,149
|
)
|
||||||||
|
||||||||||||||||||||
Net loss attributable to Capitol Bancorp Limited
|
||||||||||||||||||||
per common share
|
$
|
(0.25
|
)
|
$
|
(0.40
|
)
|
$
|
(0.44
|
)
|
$
|
(0.44
|
)
|
||||||||
Book value (deficit) per common share at end of period
|
(3.20
|
)
|
(1.89
|
)
|
(3.20
|
)
|
(1.89
|
)
|
||||||||||||
Common stock closing price at end of period
|
$
|
0.14
|
$
|
0.14
|
$
|
0.14
|
$
|
0.14
|
||||||||||||
Common shares outstanding at end of period
|
41,038,000
|
41,047,000
|
41,038,000
|
41,047,000
|
||||||||||||||||
Number of common shares used to compute net
|
||||||||||||||||||||
loss per share:
|
||||||||||||||||||||
Basic
|
41,021,000
|
40,946,000
|
41,020,000
|
36,579,000
|
||||||||||||||||
Diluted
|
41,021,000
|
40,946,000
|
41,020,000
|
36,579,000
|
||||||||||||||||
|
||||||||||||||||||||
|
||||||||||||||||||||
|
2nd Quarter
|
1st Quarter
|
4th Quarter
|
3rd Quarter
|
2nd Quarter
|
|||||||||||||||
|
2012 | 2012 | 2011 | 2011 | 2011 | |||||||||||||||
Condensed summary of consolidated financial position:
|
||||||||||||||||||||
Total assets
|
$
|
1,985,907
|
$
|
2,058,739
|
$
|
2,205,265
|
$
|
2,468,957
|
$
|
2,945,859
|
||||||||||
Portfolio loans(1)
|
1,379,267
|
1,449,772
|
1,541,113
|
1,633,069
|
1,750,649
|
|||||||||||||||
Deposits(1)
|
1,729,032
|
1,783,113
|
1,858,398
|
1,960,329
|
2,055,698
|
|||||||||||||||
Capitol Bancorp Limited stockholders' equity (deficit)
|
(126,378
|
)
|
(115,976
|
)
|
(108,084
|
)
|
(95,831
|
)
|
(72,421
|
)
|
||||||||||
Total capital
|
$
|
17,294
|
$
|
27,931
|
$
|
40,509
|
$
|
55,622
|
$
|
90,157
|
||||||||||
|
||||||||||||||||||||
Key performance ratios:
|
||||||||||||||||||||
Net interest margin
|
3.20
|
%
|
3.12
|
%
|
2.90
|
%
|
2.97
|
%
|
2.99
|
%
|
||||||||||
Efficiency ratio
|
158.99
|
%
|
140.94
|
%
|
113.16
|
%
|
138.91
|
%
|
139.60
|
%
|
||||||||||
|
||||||||||||||||||||
Asset quality ratios:
|
||||||||||||||||||||
Allowance for loan losses / portfolio loans
|
5.32
|
%
|
5.52
|
%
|
5.56
|
%
|
5.72
|
%
|
5.60
|
%
|
||||||||||
Total nonperforming loans / portfolio loans
|
11.78
|
%
|
12.62
|
%
|
13.45
|
%
|
13.73
|
%
|
13.23
|
%
|
||||||||||
Total nonperforming assets / total assets
|
12.98
|
%
|
14.79
|
%
|
14.72
|
%
|
14.23
|
%
|
12.65
|
%
|
||||||||||
Net charge-offs (annualized) / average portfolio loans
|
2.20
|
%
|
1.74
|
%
|
3.24
|
%
|
5.61
|
%
|
3.32
|
%
|
||||||||||
Allowance for loan losses / nonperforming loans
|
45.19
|
%
|
43.74
|
%
|
41.33
|
%
|
41.70
|
%
|
42.29
|
%
|
||||||||||
|
||||||||||||||||||||
Capital ratios:
|
||||||||||||||||||||
Capitol Bancorp Limited stockholders' equity (deficit) / total assets
|
(6.36
|
)%
|
(5.63
|
)%
|
(4.90
|
)%
|
(3.88
|
)%
|
(2.46
|
)%
|
||||||||||
Total equity / total assets
|
(6.64
|
)%
|
(5.89
|
)%
|
(4.93
|
)%
|
(3.79
|
)%
|
(2.00
|
)%
|
||||||||||
|
||||||||||||||||||||
(1) Amounts as previously reported have been adjusted to exclude amounts related to discontinued operations.
|
Forward-Looking Statements
|
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
|
Forward-looking statements include expressions such as "expect," "intend," "believe," "estimate," "may," "will," "anticipate" and "should"
|
and similar expressions also identify forward-looking statements which are not necessarily statements of belief as to the expected outcomes
|
of future events. Actual results could materially differ from those presented due to a variety of internal and external factors. Actual results
|
could materially differ from those contained in, or implied by, such statements. Capitol Bancorp Limited undertakes no obligation to release
|
revisions to these forward-looking statements or reflect events or circumstances after the date of this release.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental analyses follow providing additional detail regarding Capitol's consolidated results of operations, financial position,
|
||||||||||||||
|
asset quality and other supplemental data.
|
|
|
|
|
|
|
|
|
|
CAPITOL BANCORP LIMITED
|
||||||||||||||||
Condensed Consolidated Statements of Operations (Unaudited)
|
||||||||||||||||
(in thousands, except per-share data)
|
||||||||||||||||
|
||||||||||||||||
|
Three Months Ended June 30
|
Six Months Ended June 30
|
||||||||||||||
|
2012
|
2011
|
2012
|
2011
|
||||||||||||
INTEREST INCOME:
|
||||||||||||||||
Portfolio loans (including fees)
|
$
|
19,590
|
$
|
24,273
|
$
|
40,475
|
$
|
50,365
|
||||||||
Loans held for sale
|
8
|
9
|
20
|
27
|
||||||||||||
Taxable investment securities
|
44
|
28
|
95
|
58
|
||||||||||||
Other
|
299
|
299
|
589
|
650
|
||||||||||||
Total interest income
|
19,941
|
24,609
|
41,179
|
51,100
|
||||||||||||
|
||||||||||||||||
INTEREST EXPENSE:
|
||||||||||||||||
Deposits
|
3,390
|
5,898
|
7,334
|
12,553
|
||||||||||||
Debt obligations and other
|
2,602
|
2,945
|
5,667
|
5,885
|
||||||||||||
Total interest expense
|
5,992
|
8,843
|
13,001
|
18,438
|
||||||||||||
|
||||||||||||||||
Net interest income
|
13,949
|
15,766
|
28,178
|
32,662
|
||||||||||||
|
||||||||||||||||
PROVISION FOR LOAN LOSSES
|
294
|
5,736
|
1,160
|
17,216
|
||||||||||||
Net interest income after provision
|
||||||||||||||||
for loan losses
|
13,655
|
10,030
|
27,018
|
15,446
|
||||||||||||
|
||||||||||||||||
NONINTEREST INCOME:
|
||||||||||||||||
Service charges on deposit accounts
|
656
|
681
|
1,326
|
1,356
|
||||||||||||
Trust and wealth-management revenue
|
701
|
817
|
1,424
|
1,761
|
||||||||||||
Fees from origination of non-portfolio residential
|
||||||||||||||||
mortgage loans
|
143
|
75
|
304
|
215
|
||||||||||||
Gain on sale of government-guaranteed loans
|
167
|
384
|
362
|
726
|
||||||||||||
Gain on debt extinguishment
|
-
|
16,861
|
||||||||||||||
Other
|
2,010
|
2,936
|
3,590
|
4,662
|
||||||||||||
Total noninterest income
|
3,677
|
4,893
|
7,006
|
25,581
|
||||||||||||
|
||||||||||||||||
NONINTEREST EXPENSE:
|
||||||||||||||||
Salaries and employee benefits
|
10,940
|
12,446
|
21,740
|
24,842
|
||||||||||||
Occupancy
|
2,413
|
2,727
|
4,993
|
5,558
|
||||||||||||
Equipment rent, depreciation and maintenance
|
1,446
|
1,950
|
2,886
|
3,866
|
||||||||||||
Costs associated with foreclosed properties and other
|
||||||||||||||||
real estate owned
|
6,055
|
9,021
|
11,055
|
16,333
|
||||||||||||
FDIC insurance premiums and other regulatory fees
|
1,650
|
2,377
|
3,329
|
5,079
|
||||||||||||
Other
|
5,520
|
3,669
|
9,771
|
10,713
|
||||||||||||
Total noninterest expense
|
28,024
|
32,190
|
53,774
|
66,391
|
||||||||||||
|
||||||||||||||||
Loss before income tax expense (benefit)
|
(10,692
|
)
|
(17,267
|
)
|
(19,750
|
)
|
(25,364
|
)
|
||||||||
|
||||||||||||||||
Income tax expense (benefit)
|
1
|
(409
|
)
|
(44
|
)
|
(2,655
|
)
|
|||||||||
|
||||||||||||||||
Loss from continuing operations
|
(10,693
|
)
|
(16,858
|
)
|
(19,706
|
)
|
(22,709
|
)
|
||||||||
|
||||||||||||||||
Discontinued operations:
|
||||||||||||||||
Income (loss) from operations of bank subsidiaries sold
|
95
|
(624
|
)
|
33
|
(316
|
)
|
||||||||||
Gain on sale of bank subsidiaries
|
184
|
126
|
4,552
|
|||||||||||||
Less income tax expense
|
80
|
208
|
62
|
1,807
|
||||||||||||
Income (loss) from discontinued operations
|
15
|
(648
|
)
|
97
|
2,429
|
|||||||||||
|
||||||||||||||||
NET LOSS
|
(10,678
|
)
|
(17,506
|
)
|
(19,609
|
)
|
(20,280
|
)
|
||||||||
|
||||||||||||||||
Net losses attributable to noncontrolling interests in
|
||||||||||||||||
consolidated subsidiaries
|
339
|
1,068
|
1,358
|
4,131
|
||||||||||||
|
||||||||||||||||
NET LOSS ATTRIBUTABLE TO
|
||||||||||||||||
CAPITOL BANCORP LIMITED
|
$
|
(10,339
|
)
|
$
|
(16,438
|
)
|
$
|
(18,251
|
)
|
$
|
(16,149
|
)
|
||||
|
||||||||||||||||
NET LOSS PER COMMON SHARE
|
||||||||||||||||
ATTRIBUTABLE TO CAPITOL BANCORP
|
||||||||||||||||
LIMITED (basic and diluted)
|
$
|
(0.25
|
)
|
$
|
(0.40
|
)
|
$
|
(0.44
|
)
|
$
|
(0.44
|
)
|
||||
|
CAPITOL BANCORP LIMITED
|
||||||||
Condensed Consolidated Balance Sheets
|
||||||||
(in thousands, except share and per-share data)
|
||||||||
|
||||||||
|
(Unaudited)
|
|||||||
|
June 30,
|
December 31,
|
||||||
|
2012
|
2011
|
||||||
ASSETS
|
||||||||
|
||||||||
Cash and due from banks
|
$
|
47,466
|
$
|
38,540
|
||||
Money market and interest-bearing deposits
|
298,395
|
318,006
|
||||||
Cash and cash equivalents
|
345,861
|
356,546
|
||||||
Loans held for sale
|
1,099
|
2,129
|
||||||
Investment securities:
|
||||||||
Available for sale, carried at fair value
|
17,099
|
14,883
|
||||||
Held for long-term investment, carried at
|
||||||||
amortized cost which approximates fair value
|
2,769
|
2,737
|
||||||
Total investment securities
|
19,868
|
17,620
|
||||||
Federal Home Loan Bank and Federal Reserve
|
||||||||
Bank stock (carried on the basis of cost)
|
12,105
|
12,851
|
||||||
Portfolio loans:
|
||||||||
Loans secured by real estate:
|
||||||||
Commercial
|
841,762
|
907,377
|
||||||
Residential (including multi-family)
|
291,175
|
332,110
|
||||||
Construction, land development and other land
|
77,989
|
105,268
|
||||||
Total loans secured by real estate
|
1,210,926
|
1,344,755
|
||||||
Commercial and other business-purpose loans
|
156,251
|
181,349
|
||||||
Consumer
|
10,600
|
12,228
|
||||||
Other
|
1,490
|
2,781
|
||||||
Total portfolio loans
|
1,379,267
|
1,541,113
|
||||||
Less allowance for loan losses
|
(73,438
|
)
|
(86,745
|
)
|
||||
Net portfolio loans
|
1,305,829
|
1,454,368
|
||||||
Premises and equipment
|
22,769
|
24,348
|
||||||
Accrued interest income
|
4,438
|
5,037
|
||||||
Other real estate owned
|
94,834
|
95,523
|
||||||
Other assets
|
12,947
|
14,345
|
||||||
Assets of discontinued operations
|
166,157
|
222,498
|
||||||
|
||||||||
TOTAL ASSETS
|
$
|
1,985,907
|
$
|
2,205,265
|
||||
|
||||||||
LIABILITIES AND EQUITY
|
||||||||
|
||||||||
LIABILITIES:
|
||||||||
Deposits:
|
||||||||
Noninterest-bearing
|
$
|
361,003
|
$
|
328,896
|
||||
Interest-bearing
|
1,368,029
|
1,529,502
|
||||||
Total deposits
|
1,729,032
|
1,858,398
|
||||||
Debt obligations:
|
||||||||
Notes payable and short-term borrowings
|
30,694
|
50,445
|
||||||
Subordinated debentures
|
149,207
|
149,156
|
||||||
Total debt obligations
|
179,901
|
199,601
|
||||||
Accrued interest on deposits and other liabilities
|
51,242
|
50,157
|
||||||
Liabilities of discontinued operations
|
157,645
|
205,756
|
||||||
Total liabilities
|
2,117,820
|
2,313,912
|
||||||
|
||||||||
EQUITY:
|
||||||||
Capitol Bancorp Limited stockholders' equity:
|
||||||||
Preferred stock (Series A), 700,000 shares authorized
|
||||||||
($100 liquidation preference per share); 50,980 shares
|
||||||||
issued and outstanding
|
5,098
|
5,098
|
||||||
Preferred stock (for potential future issuance),
|
||||||||
19,300,000 shares authorized; none issued and outstanding
|
--
|
--
|
||||||
Common stock, no par value, 1,500,000,000 shares authorized;
|
||||||||
issued and outstanding: 2012 - 41,038,408 shares
|
||||||||
2011 - 41,039,767 shares
|
292,179
|
292,135
|
||||||
Retained-earnings deficit
|
(423,175
|
)
|
(404,846
|
)
|
||||
Undistributed common stock held by employee-benefit trust
|
(541
|
)
|
(541
|
)
|
||||
Accumulated other comprehensive income
|
61
|
70
|
||||||
Total Capitol Bancorp Limited stockholders' equity deficit
|
(126,378
|
)
|
(108,084
|
)
|
||||
Noncontrolling interests in consolidated subsidiaries
|
(5,535
|
)
|
(563
|
)
|
||||
Total equity deficit
|
(131,913
|
)
|
(108,647
|
)
|
||||
|
||||||||
TOTAL LIABILITIES AND EQUITY
|
$
|
1,985,907
|
$
|
2,205,265
|
|
Periods Ended June 30
|
|||||||||||||||
|
Three Month Period
|
Six Month Period
|
||||||||||||||
|
2012
|
2011(1)
|
2012
|
2011(1)
|
||||||||||||
|
||||||||||||||||
Allowance for loan losses at beginning of period
|
$
|
80,954
|
$
|
117,246
|
$
|
86,745
|
$
|
126,305
|
||||||||
|
||||||||||||||||
Allowance for loan losses of previously-discontinued
bank subsidiary
|
2,380
|
|||||||||||||||
|
||||||||||||||||
Loans charged-off:
|
||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||
Commercial
|
(3,714
|
)
|
(6,463
|
)
|
(9,566
|
)
|
(14,874
|
)
|
||||||||
Residential (including multi-family)
|
(2,691
|
)
|
(3,261
|
)
|
(7,067
|
)
|
(10,441
|
)
|
||||||||
Construction, land development and other land
|
(1,414
|
)
|
(4,239
|
)
|
(3,564
|
)
|
(11,833
|
)
|
||||||||
Total loans secured by real estate
|
(7,819
|
)
|
(13,963
|
)
|
(20,197
|
)
|
(37,148
|
)
|
||||||||
Commercial and other business-purpose loans
|
(4,782
|
)
|
(5,576
|
)
|
(6,560
|
)
|
(10,822
|
)
|
||||||||
Consumer
|
(38
|
)
|
(369
|
)
|
(333
|
)
|
(592
|
)
|
||||||||
Other
|
(679
|
)
|
--
|
(679
|
)
|
--
|
||||||||||
Total charge-offs
|
(13,318
|
)
|
(19,908
|
)
|
(27,769
|
)
|
(48,562
|
)
|
||||||||
Recoveries:
|
||||||||||||||||
Loans secured by real estate:
|
||||||||||||||||
Commercial
|
1,574
|
1,112
|
3,967
|
2,044
|
||||||||||||
Residential (including multi-family)
|
568
|
960
|
3,769
|
1,941
|
||||||||||||
Construction, land development and other land
|
376
|
145
|
1,149
|
3,153
|
||||||||||||
Total loans secured by real estate
|
2,518
|
2,217
|
8,885
|
7,138
|
||||||||||||
Commercial and other business-purpose loans
|
2,908
|
1,184
|
4,265
|
1,959
|
||||||||||||
Consumer
|
82
|
55
|
145
|
93
|
||||||||||||
Other
|
--
|
1
|
7
|
2
|
||||||||||||
Total recoveries
|
5,508
|
3,457
|
13,302
|
9,192
|
||||||||||||
Net charge-offs
|
(7,810
|
)
|
(16,451
|
)
|
(14,467
|
)
|
(39,370
|
)
|
||||||||
Additions to allowance charged to expense (provision
for loan losses)
|
294
|
5,736
|
1,160
|
17,216
|
||||||||||||
|
||||||||||||||||
Allowance for loan losses at end of period
|
$
|
73,438
|
$
|
106,531
|
$
|
73,438
|
$
|
106,531
|
||||||||
|
||||||||||||||||
Average total portfolio loans for the period
|
$
|
1,420,161
|
$
|
1,811,587
|
$
|
1,461,872
|
$
|
1,869,158
|
||||||||
|
||||||||||||||||
Ratio of net charge-offs (annualized) to average
portfolio loans outstanding
|
2.20
|
%
|
3.63
|
%
|
1.98
|
%
|
4.21
|
%
|
(1)(1(1)
|
For comparative purposes, original balances as previously reported have been adjusted to exclude amounts related to discontinued operations.
|
|
June 30,
2012
|
March 31,
2012
|
December 31,
2011
|
|||||||||
|
||||||||||||
Nonaccrual loans:
|
||||||||||||
Loans secured by real estate:
|
||||||||||||
Commercial
|
$
|
93,792
|
$
|
114,225
|
$
|
121,250
|
||||||
Residential (including multi-family)
|
36,525
|
39,094
|
45,357
|
|||||||||
Construction, land development and other land
|
17,409
|
21,411
|
29,088
|
|||||||||
Total loans secured by real estate
|
147,726
|
174,730
|
195,695
|
|||||||||
Commercial and other business-purpose loans
|
13,238
|
14,901
|
17,818
|
|||||||||
Consumer
|
174
|
182
|
124
|
|||||||||
Total nonaccrual loans
|
161,138
|
189,813
|
213,637
|
|||||||||
|
||||||||||||
Past due (>90 days) loans and accruing interest:
|
||||||||||||
Loans secured by real estate:
|
||||||||||||
Commercial
|
1,029
|
515
|
3,778
|
|||||||||
Residential (including multi-family)
|
231
|
1,089
|
259
|
|||||||||
Construction, land development and other land
|
--
|
312
|
--
|
|||||||||
Total loans secured by real estate
|
1,260
|
1,916
|
4,037
|
|||||||||
Commercial and other business-purpose loans
|
93
|
233
|
148
|
|||||||||
Consumer
|
14
|
17
|
38
|
|||||||||
Total past due loans
|
1,367
|
2,166
|
4,223
|
|||||||||
|
||||||||||||
Total nonperforming loans
|
$
|
162,505
|
$
|
191,979
|
$
|
217,860
|
||||||
|
||||||||||||
Real estate owned and other
repossessed assets
|
95,331
|
101,651
|
95,587
|
|||||||||
|
||||||||||||
Total nonperforming assets
|
$
|
257,836
|
$
|
293,630
|
$
|
313,447
|
|
Periods Ended June 30
|
|||||||||||||||
|
Three Month Period
|
Six Month Period
|
||||||||||||||
|
2012
|
2011
|
2012
|
2011
|
||||||||||||
|
||||||||||||||||
Numerator-net loss attributable to Capitol
Bancorp Limited for the period
|
$
|
(10,339
|
)
|
$
|
(16,438
|
)
|
$
|
(18,251
|
)
|
$
|
(16,149
|
)
|
||||
|
||||||||||||||||
Denominator:
|
||||||||||||||||
Weighted average number of common shares
outstanding, excluding unvested restricted shares
of common stock (denominator for basic and
diluted net loss)
|
41,021
|
40,946
|
41,020
|
36,579
|
||||||||||||
|
||||||||||||||||
Number of antidilutive stock options excluded from
diluted net loss per share computation
|
1,722
|
1,541
|
1,722
|
1,541
|
||||||||||||
|
||||||||||||||||
Number of antidilutive unvested restricted shares
excluded from basic and diluted net loss per
share computation
|
18
|
30
|
18
|
30
|
||||||||||||
|
||||||||||||||||
Number of antidilutive warrants excluded from
diluted net loss per share computation
|
1,250
|
1,326
|
1,250
|
1,326
|
||||||||||||
|
||||||||||||||||
Net income (loss) per common share attributable to
Capitol Bancorp Limited:
|
||||||||||||||||
From continuing operations
|
$
|
(0.23
|
)
|
$
|
(0.40
|
)
|
$
|
(0.43
|
)
|
$
|
(0.52
|
)
|
||||
From discontinued operations
|
-- | -- | -- |
0.08
|
||||||||||||
|
||||||||||||||||
Total net loss per common share attributable
to Capitol Bancorp Limited
|
$
|
(0.23
|
)
|
$
|
(0.40
|
)
|
$
|
(0.43
|
)
|
$
|
(0.44
|
)
|
|
Periods Ended June 30
|
|||||||||||||||
|
Three Month Period
|
Six Month Period
|
||||||||||||||
|
2012
|
2011
|
2012
|
2011
|
||||||||||||
|
||||||||||||||||
Portfolio loans(1)
|
$
|
1,420,161
|
$
|
1,811,587
|
$
|
1,461,872
|
$
|
1,869,158
|
||||||||
Earning assets(1)
|
1,744,490
|
2,165,074
|
1,791,787
|
2,228,605
|
||||||||||||
Total assets
|
2,017,718
|
3,032,213
|
2,069,183
|
3,185,488
|
||||||||||||
Deposits(1)
|
1,746,365
|
2,095,458
|
1,781,526
|
2,137,633
|
||||||||||||
Capitol Bancorp Limited stockholders' equity (deficit)
|
(120,773
|
)
|
(62,960
|
)
|
(116,345
|
)
|
(59,397
|
)
|
|
|
Arizona Region:
|
|
Central Arizona Bank
|
Scottsdale, Arizona
|
Sunrise Bank of Albuquerque
|
Albuquerque, New Mexico
|
Sunrise Bank of Arizona
|
Phoenix, Arizona
|
|
|
Great Lakes Region:
|
|
Bank of Maumee
|
Maumee, Ohio
|
Capitol National Bank
|
Lansing, Michigan
|
Indiana Community Bank
|
Goshen, Indiana
|
Michigan Commerce Bank
|
Ann Arbor, Michigan
|
|
|
Midwest Region:
|
|
Summit Bank of Kansas City
|
Lee's Summit, Missouri
|
|
|
Nevada Region:
|
|
1st Commerce Bank
|
North Las Vegas, Nevada
|
Bank of Las Vegas
|
Las Vegas, Nevada
|
|
|
Northwest Region:
|
|
High Desert Bank
|
Bend, Oregon
|
|
|
Southeast Region:
|
|
Pisgah Community Bank
|
Asheville, North Carolina
|
Sunrise Bank
|
Valdosta, Georgia
|
|
|