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UNITED STATES
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
Date of Report (Date of earliest event reported): September 23, 1999
CAPITOL BANCORP LTD.
(Exact name of registrant as specified in its charter)
MICHIGAN 38-2761672
(State or other jurisdiction (I.R.S. Employer
of incorporation or Identification
organization) Number)
Commission file number 33-24728C
200 WASHINGTON SQUARE NORTH, LANSING, MICHIGAN
(Address of principal executive offices)
48933
(Zip Code)
(517) 487-6555
(Registrant's telephone number)
Not Applicable
(Former name, former address and former fiscal year,
if changed since last report)
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Item 5. Other Events.
On September 23, 1999, the Registrant announced that it was terminating its
proposed secondary stock offering of 1.7 million shares of common stock. Citing
market conditions for financial stocks in general, the announcement stated that
completion of the offering in the current market environment would not be in the
best interests of the Registrant's shareholders. Proceeds from the proposed
offering were intended to be used to reduce corporate indebtedness. The
Registrant's operations and bank development plans are unaffected by the
announcement.
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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 thereunto duly authorized.
CAPITOL BANCORP LTD.
(Registrant)
\s\ Joseph D. Reid
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Joseph D. Reid
Chairman, President and CEO
(duly authorized to sign on behalf
of the registrant)
Date: September 24, 1999
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