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CAPITOL BANCORP LTD. ANNOUNCES FIRST CASH DIVIDEND

 LANSING, Mich., Jan. 18 /PRNewswire/ -- Today, Joseph D. Reid, chairman and CEO of Capitol Bancorp Ltd. (NASDAQ-NMS: CBCL), announced the corporation's first cash dividend payable in 1994. The cash dividend of $.07 per share will be payable on March 1, 1994, to all shareholders of record as of Feb. 1, 1994.
 In announcing the dividend, Mr. Reid said, "This first cash dividend in 1994 represents a continuation of the Board of Directors' previously announced intention to pay dividends in equal increments on a quarterly basis."
 Capitol Bancorp, headquartered in Lansing, has full service locally operated commercial banking units in Lansing (Capitol National Bank), Portage (Portage Commerce Bank), Ann Arbor (Ann Arbor Commerce Bank) and Farmington Hills (Oakland Commerce Bank) and is also engaged in mortgage banking activities through Mortgage Connection, Inc. in Farmington Hills, Mich.
 -0- 1/18/94
 /CONTACT: Joseph D. Reid, chairman and CEO of Capitol Bancorp Ltd., 517-487-6555/
 (CBCL)


CO: Capitol Bancorp Ltd. ST: Michigan IN: FIN SU: DIV

SM -- DE014 -- 2657 01/18/94 10:42 EST
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Publication:PR Newswire
Date:Jan 18, 1994
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