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): October 26, 2004

CAPITOL BANCORP LTD.

(Exact name of registrant as specified in its charter)

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

TABLE OF CONTENTS

	Item 7.01. Regulation FD Disclosure.
SIGNATURES
INDEX TO EXHIBITS
Press Release, Dated October 26, 2004

Item 7.01. Regulation FD Disclosure.

     On October 26, 2004, the Company announced that its Board of Directors declared a $0.17 cash dividend to shareholders of record on November 8, 2004 and payable December 1, 2004. The press release 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.

	CAPITOL BANCORP LTD. (Registrant)
Date: October 26, 2004	/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 October 26, 2004.

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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
	Contact: Michael M. Moran
		Chief of Capital Markets
		877-884-5662

Capitol Bancorp Declares
49th Consecutive Quarterly Cash Dividend

LANSING, Mich., and PHOENIX, Ariz.: October 26, 2004: The Board of Directors of Capitol Bancorp Limited (NYSE:CBC) today announced the Corporation’s 49th consecutive quarterly cash dividend. The dividend of $0.17 per common share is payable December 1, 2004 to shareholders of record as of November 8, 2004 and represents a 13 percent increase over the $0.15 dividend paid in the same period in 2003.

Capitol Bancorp’s Chairman and CEO, Joseph D. Reid, said continued focus on credit quality, pragmatic growth and unparalleled service delivery contributed to a strong quarter and a positive return for shareholders. “Our third quarter performance was the result of being able to maintain a strong margin while realizing a steady increase in both portfolio loans and assets.” Reid added that with total capital levels exceeding $386 million, Capitol is well-positioned to continue its development plans throughout the country.

The dividend declaration follows Capitol Bancorp’s recent announcement of record third quarter earnings of $7.4 million, 23 percent higher than earnings reported for the same period in 2003, with record earnings per share of $0.50 on a diluted basis representing a 14 percent increase versus the $0.44 reported in the third quarter of 2003. Total consolidated assets at Capitol Bancorp Limited, as of September 30, 2004, exceeded $3 billion for the first time in the Corporation’s history.

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About Capitol Bancorp Limited

Capitol Bancorp Limited is a $3 billion community bank development company, with 32 individual bank charters and bank operations in nine states. Capitol Bancorp Limited identifies opportunities for the development of new community banks, raises capital, mentors a community bank through its formative stages, and manages its investments in its 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. Capitol Bancorp Limited was founded in 1988 and has headquarters in Lansing, Mich. and Phoenix, Ariz.