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.

246

HISTORY OF OAKLAND COUNTY

president; A. F. Newberry, cashier; and A. W. Dickinson, assistant
cashier. The present officers are the same with the exception of a
change in the position of assistant cashier, that post being filled now by
Charles Merz. The bank has a capital stock of $50,ooo, with surplus
and undivided profits of $15,ooo and deposits of $660,000.
FIRST STATE SAVINGS BANK, BIRMINGHAM
The First State Savings Bank of Birmingham was organized and
established in November, I909. The bank has a capital stock of $20,000,
surplus and undivided profits of $3,I57.53, with deposits of $280,172.26.
In addition to its banking operations, the bank writes fire insurance and
sells real estate.
The present officers of the bank are: Frank Ford, president; Frank
Hagerman, vice president; Thomas H. Cobb, cashier; Charles E. Toms,
auditor. Frank Ford, Frank Hagerman and T. B. Smith are directors.
FARMINGTON EXCHANGE BANK
What is now known as the Farmington Exchange Bank was incorporated as a state institution on October I, I91o. Its predecessor
was Warner's Exchange Bank, a private concern founded in 1898 by
the following copartners: P. Dean Warner, C. J. Sprague, F.,M. Warner,
M. B. Pierce, C. W. Wilber, O. M. Whipple, George W. Whipple,
Samuel D. Holcomb. The paid in capital of the bank amounted to
$6,000 and the responsibility $15o,ooo. The present officers of the
Farmington Exchange Bank are: Fred M. Warner, president; Samuel D.
Holcomb, vice president; C. W. Wilber, cashier. The capital stock is
$25,000; surplus, $700; deposits, $145,000.
ROCHESTER SAVINGS BANK
The Rochester Savings Bank was organized in September, 900o, with
the following officers: E. R. Mathews, president; F. C. Andrews, vice
president; John J. Brewer, cashier. The present officers are: William
C. Chapman, president; M. I. Brabb, vice president; H. J. Taylor, cashier; H. A. Case, assistant cashier. The capital stock of the bank is $25,ooo; surplus and undivided profits, $I4,445.61; deposits, $426,789.87,
according to their statement on February 20, I912. Four per cent interest is paid on deposits.
HOLLY SAVINGS BANKS
The Citizens' Savings Bank of Holly was organized August I, 1902,
with A. H. Shepard as president, John W. Patterson, vice president, and
C. J. Cummings, cashier. H. Lee Wright is now president, but otherwise
the officials are unchanged. The capital of the bank is $20,000, surplus
and undivided profits $3,750 and deposits $140,000.
The First State Savings Bank was organized as the First National
Bank of Holly in December, 1870, with a capital of $5o,ooo and James