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Early Michigan

Early Banks Of Michigan

On the 29th day of March, 1827, the charter of the Bank of Monroe, passed by the legislative council, was approved by the governor, its capital stock to be $100,000, with liberty of increase to $500,000, and to continue in existence 20 years.
The Farmers' and Mechanics' Bank of Michigan was chartered by act of the legislative council, approved November 5th, 1829, and on the 7th day of March, 1834, it was allowed by act of the council to increase its capital stock and to establish a branch bank at St. Joseph.
A charter to the Bank of River Raisin was granted June 29th, 1832, and by act of March 7th, 1832, the institution was allowed to increase its capital stock and to establish a branch bank at Pontiac.
The Bank of Wisconsin was chartered by an act approved January 23,1835. This bank was to be located in that part of the territory known as the Green Bay country, and which, on the organization of the State of Michigan soon after, was thrown outside of the state jurisdiction.

Michigan


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