For Immediate Release
Contact: Kevin Pesko/President
Bank of Belleville Completes Redemption of Stock of Majority Stockholder via Community
BELLEVILLE, Ill, June. 8, 2010: –
Bank of Belleville President, Kevin Pesko, announced today that the Bank has purchased
the controlling interest in the Bank previously held by Capitol Bancorp Limited
(NYSE; CBC). The funds necessary to complete the transaction were raised via a Community
Stock Offering that positions the bank uniquely among its peers. Unlike the local
branches of the large conglomerate banks that are controlled by out of town interests
and the other local banks controlled by one or a handful of owners, Bank of Belleville
raises the bar when defining the term Community Bank. I am very proud and appreciative
of our nearly 400 owners who are also customers and ambassadors of the bank, added
This is the Bank's second successful Offering since its inception in
2005 and underscores the Bank's continued warm reception from the community. Bank of Belleville opened
on November 4, 2005 with eight employees and a 6,000 square foot headquarters. The
bank now has over $70 million in assets as well as an expanded team and headquarters
to satisfy the needs of its growing customer base.
"The community continues to embrace our old-fashioned approach to banking that
relies heavily on common sense and being accessible to those with whom we do business.
The bank compliments its approach by offering a full array of financial products
for businesses and consumers by use of the latest technology and unique innovations
such as a complimentary courier for its business customers," said Pesko.
About Bank of Belleville
Bank of Belleville is a full-service community bank focused on providing relationship
banking to small and mid-sized businesses, their owners and management teams, as
well as entrepreneurs and local residents. The bank offers the conveniences of no-cost
access to ATMs nationwide and a courier service for business clients
from its headquarters in Downtown Belleville at 720 West Main Street. Hours
are Monday - Friday, 9 a.m.
to 6 p.m., and Saturday from 9 a.m. to Noon.