Community banks come back to the community

Plans to shed ties to their holding company will pave the way for future growth for three locally chartered banks.

Capitol Bancorp Ltd. – co-headquartered in Lansing, Mich., and Phoenix, Ariz. – announced in mid-April that it reached an agreement in which its 51 percent shares in Fort Collins Commerce Bank, Larimer Bank of Commerce and Loveland Bank of Commerce would be redeemed. The deal is expected to close later this year, pending regulatory approval.

Capitol’s involvement in the day-to-day operations at the Northern Colorado banks has been non-existent, explained Fort Collins Bank of Commerce President Gerard Nalezny. Capitol’s role was limited…