Union Trust and Savings Bank (Michigan)
Encyclopedia
Union Trust and Savings Bank was a bank that served the City of Flint, Michigan
. It was established in 1893 primarily by Ira H. Wilder. Wilder was convinced by a number of wealthy men to resign as a national bank examiner to start the bank with them. Among the initial board of director were two Mayors of the City of Flint, Michigan: Mathew Davison
and William A. Paterson
. Paterson was also a carriage and later car manufacturer. James Hurley was a director and is known for his bequest towards the foundation of the City's Hurley Hospital
. The first president was Charles T. Bridgman with Wilder as cashier. Davison succeeded Wilder as bank cashier. Later, George H. Durand
and William F. Stewart joined the Board of Directors. By 1916, Paterson and W. H. Edwards were appointed Vice-Presidents and Davison, Chairman of the Board. Additional in 1916, L. H. Bridgman was cashier and J. E. Storer was his assistant cashier.
Several employees, including a senior vice president and two vice presidents, were caught in 1929 embezzling $3.5 million from the bank. On May 1, 1929, the Bank merged with Industrial Savings Bank to become Union Industrial Trust & Savings Bank.
Flint, Michigan
Flint is a city in the U.S. state of Michigan and is located along the Flint River, northwest of Detroit. The U.S. Census Bureau reports the 2010 population to be placed at 102,434, making Flint the seventh largest city in Michigan. It is the county seat of Genesee County which lies in the...
. It was established in 1893 primarily by Ira H. Wilder. Wilder was convinced by a number of wealthy men to resign as a national bank examiner to start the bank with them. Among the initial board of director were two Mayors of the City of Flint, Michigan: Mathew Davison
Mathew Davison
-Early life:His first business was a clothing business. He was one the area's largest land owner, owning large amounts of farm land. He served as the long time cashier of the Union Trust and Savings Bank.-Political life:...
and William A. Paterson
William A. Paterson
William A. Paterson was an American automobile maker associated with the founding of the Buick Motor Company. He created the Paterson automobile and briefly served as Mayor of the City of Flint. He was also involved in founding the Union Trust Savings Bank.-References:...
. Paterson was also a carriage and later car manufacturer. James Hurley was a director and is known for his bequest towards the foundation of the City's Hurley Hospital
Hurley Medical Center
Hurley Medical Center is a teaching hospital serving Genesee, Lapeer, and Shiawassee counties in eastern Michigan since December 19, 1908. Situated in Flint, Michigan, it is a 443-bed public non-profit hospital...
. The first president was Charles T. Bridgman with Wilder as cashier. Davison succeeded Wilder as bank cashier. Later, George H. Durand
George H. Durand
George Harman Durand was a politician, jurist, and attorney from the U.S. state of Michigan.-Early life:Durand was born in Cobleskill, New York. He attended the common schools and Genesee Wesleyan Seminary at Lima, New York...
and William F. Stewart joined the Board of Directors. By 1916, Paterson and W. H. Edwards were appointed Vice-Presidents and Davison, Chairman of the Board. Additional in 1916, L. H. Bridgman was cashier and J. E. Storer was his assistant cashier.
Several employees, including a senior vice president and two vice presidents, were caught in 1929 embezzling $3.5 million from the bank. On May 1, 1929, the Bank merged with Industrial Savings Bank to become Union Industrial Trust & Savings Bank.