Union Trust and Savings Bank was a bank that served the City of

Flint, Michigan Flint is the largest city and seat of Genesee County, Michigan, United States. Located along the Flint River, northwest of Detroit, it is a principal city within the region known as Mid Michigan. At the 2020 census, Flint had a population of 8 ...

. It was established in 1893, merged in 1929 and failed during the Great Depression.

History

It was established in 1893 by Ira H. Wilder, a former bank examiner, and a number of wealth investors. The initial board of directors included Mathew Davison and William A. Paterson both mayors of the City of Flint. Paterson was also a carriage, and a car manufacturer. Another director was James Hurley, who was known by his foundational donations for the city's Hurley Hospital. The bank's first president was Charles T. Bridgman, and Wilder served as the cashier. Mathew Davison later succeeded Wilder as the bank's cashier. Later, George H. Durand and William F. Stewart joined the board of directors. Paterson and W. H. Edwards were appointed vice-presidents in 1916, and Davison became chairman of the board. Additionally, in 1916 L. H. Bridgman became cashier, and J. E. Storer became his assistant cashier. On May 1, 1929, the Bank merged with

Industrial Savings Bank Industrial may refer to: Industry * Industrial archaeology, the study of the history of the industry * Industrial engineering, engineering dealing with the optimization of complex industrial processes or systems * Industrial city, a city dominate ...

to become Union Industrial Trust & Savings Bank. Several employees, including a senior vice president and two vice presidents, were caught embezzling $3.5 million from the bank in 1929. It failed during the

Great Depression The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagio ...

References

{{Authority control Defunct banks of the United States Banks based in Michigan Banks established in 1893 1893 establishments in Michigan Banks disestablished in 1929 1929 disestablishments in Michigan