History of Oakland County Michigan a narrative account of its historic progress, its people, its principal interests / compiled from the official records of the county, the newspapers and data of personal interviews, under the editorial supervision of Thaddeus D. Seeley.

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HISTORY OF OAKLAND COUNTY

The Second National Bank, which was established September I, 1865,
was the predecessor of the Pontiac Savings Bank, and the First National
Bank of Holly, founded in December, 1870, preceded the First State Savings Bank of that place. There are now two national banks in the county,
both young-the First National of Rochester, organized in 1908, and the
First National of Birmingham, established in I910.
In 1887 Almeron Whitehead and George H. Mitchell founded a private bank in Birmingham. Under the name Exchange Bank its business
continuously developed into one of the leading institutions of the kind in
Oakland county. On the 9th of November, I9Io, this was merged into
the First National Bank of Birmingham, of which Mr. Whitehead is president; Eugene Brooks vice president, and Minnie T. Jarvis, cashier. Mr.
Mitchell and Volney Nixon are also directors. The last available statement of the bank indicates a capital stock of $25,000; surplus and undivided profits, $8,223.61; deposits, $278,215.70.
The First National Bank of Rochester is one of the comparatively new
financial institutions in this part of the county, its organization having
been effected on September 24, 1908. It has prospered most creditably in
the time that has elapsed since then, and is able to make a most satisfactory showing among the banks of the county. The original officers of
the concern were John C. Day, president; C. S. (hapman, vice-president;
Frank E. Hale, vice-president; M. H. Haselswerdt, cashier. The president and cashier remain the same.
The bank has a capital stock of $50,oo0; surplus and profits,
$8,094.96; deposits, $365,789.97, according to their official report rendered
to the comptroller of the currency on April I8, 1912.
THE STATE BANKS
According to the last list of state banks compiled for the Michigan
Manual of 1911, Oakland county has the following of this class:
First State Savings Bank of Birmingham.
Farmington Exchange Bank.
Citizens' Savings Bank of Holly.
First State Savings Bank, Holly.
Citizens' State Savings Bank, Orion.
Orion State Bank.
Farmers' State Bank, Oxford.
Oxford Savings Bank.
American Savings Bank, Pontiac.
First Commercial Bank, Pontiac.
Oakland County Savings Bank, Pontiac.
Pontiac Savings Bank.
Rochester Savings Bank.
Royal Oak Savings Bank.
State Savings Bank, South Lyon.
Sketches of the banks now doing business in Oakland county follow,
and they are institutions in which the entire community takes solid pride.
All suspicion of. the "wild-cat" element has been eradicated from them