Capitol Bancorp

Founded in 1988 by Joseph D. Reid, Capitol Bancorp, Ltd. was a Lansing, Michigan-based bank holding company built on a decentralized business model. It established or acquired numerous community banks and thrifts across the United States, allowing each to maintain its own name, charter, and local management to focus on its specific community's needs. At its peak, the company had a significant presence in states like Michigan, Arizona, and California. Following the 2008 financial crisis, the company faced severe financial distress, struggled to repay TARP funds, and ultimately filed for Chapter 11 bankruptcy protection in August 2012, leading to the sale and liquidation of its subsidiary banks.