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Michigan National Bank was a bank founded in Lansing, Michigan, which was established on 31 December 1940 when Howard J Stoddard consolidated six Michigan banks: First National Bank and Trust Company of Grand Rapids, First National Trust and Savings Bank of Port Huron, Lansing National Bank, City National Bank of Battle Creek, National Bank of Saginaw and First National Bank of Marshall.
Stoddard donated the money to build the Latter-day Saint Student Living Center, which contains a chapel and apartments, adjacent to Michigan State University. Stoddard received the Lansing Chamber of Commerce Community Service Award in 1960. [1] After Stoddard's death, his son Stanford C. Stoddard took over Michigan National Bank.
Edwin B. Jones was an American business executive at Michigan National Bank from 1957, retiring as its chief executive in 1985. [3] [4] [5] [6]Jones was born in Kanesville, Utah.
The Boji Tower, also known as the Michigan National Bank Building, is a historic 23-story building located at 124 Allegan Street, in Lansing, Michigan. It has been the tallest building in Lansing since its completion in 1931. On December 6, 2005, the building was added to the National Register of Historic Places as the Capital Bank Tower. [1]
The company announced the acquisition of the First National Bank of Eagle River, making it the largest bank headquartered in the Upper Peninsula with $900 million in assets. [8] The company completed its acquisition of First Federal of Northern Michigan Bancorp Inc. for $41.6 million in 2018. [9]
The bank's offices were in the former Union Industrial Bank Building which is now the Mott Foundation Building, named after Charles Stewart Mott. On May 1, 1942, the bank was acquired by Michigan National Bank. [1] The local bank operation evolved into branches of the Huntington National Bank.
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The advantage of holding a National Bank Act charter is that a national bank is not subject to state usury laws intended to prevent predatory lending. [6] However, in Cuomo v. Clearing House Association, L. L. C. , the Supreme Court ruled that federal banking regulations do not preempt the ability of states to enforce their own fair-lending ...