Wilbur Ross, whose Talmer Bancorp has agreed to invest $97 million to take over Capitol Bancorp’s stakes in its four remaining banks, said Tuesday that such deals without government assistance are fast becoming the model for rescuing troubled banks, the Wall Street Journal reported yesterday. “I’m seeing fewer FDIC-assisted transactions than there used to be,” said Mr. Ross, whose private equity arm W.L. Ross & Co. has invested more than $2 billion in recent years to buy up struggling regional banks in the U.S. “While the banks have varying degrees of problems, the real problem is at the holding company. We’re finding that [the bank level] is a more fruitful place to play to make acquisitions.” Ross’s Talmer, a Michigan-based holding company that he has used in recent years to buy a number of struggling banks in the Midwest, has agreed to be the stalking horse, or lead bidder for Capitol’s banks, which are slated to be sold next month at a bankruptcy auction.
