Capitol Bancorp has received regulatory and shareholder approval to consolidate six affiliate banks in Arizona. The banks are Arrowhead Community Bank, Asian Bank of Arizona, Camelback Community Bank, Colonia Bank, Mesa Bank and Sunrise Bank of Arizona. All the banks will consolidate and operate as Sunrise Bank of Arizona.
John Lewis will serve as the chairman, president and CEO. Mr Lewis has served as president of bank performance. Joining him on the executive management team are Gail Grace, as president of commercial lending, Douglas White, as chief operating officer and James Klussman, as chief credit officer.
Joseph Reid, chairman and CEO of Capitol, said: “The reformation of Sunrise Bank of Arizona furthers our strategy to preserve core capital and enhance balance sheet strength. This merger of resources will improve operational efficiencies and strengthen risk management practices.
“Our customers will continue to have access to local bankers. There will be no changes in the quality customer service and community commitment which our customers have come to expect at each bank office.”
