Embattled bank-holding company Capitol Bancorp Ltd. won court approval to sell its controlling stake in an Ohio community bank to Amalgamated Bank of Chicago, Dow Jones Daily Bankruptcy Review reported today. Bankruptcy Judge Marci B. McIvor on Wednesday signed off on the sale of Capitol’s 51 percent stake in Bank of Maumee, a small northwest Ohio savings bank, to Amalgamated. The purchase price wasn't disclosed.
