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Las Vegas Banks’ Owner Files For Bankruptcy

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(Photo by Tim Boyle/Getty Images)

(Photo by Tim Boyle/Getty Images)

tate south Tate South
Email Tate at tate.south@cbsradio.com
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(Lansing, MI)  —  The parent company of two Las Vegas banks has filed for Chapter 11 bankruptcy.

Michigan-based Capital Bancorp says a proposed restructuring plan was rejected by debt holders.

The company owns First Commerce Bank and Bank of Las Vegas.

It lists assets of about $112 million and debts of nearly $200 million dollars.

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