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Detroit Bank & Trust: A Look Back at a Michigan Banking Giant
Detroit Bank & Trust, formerly a major banking institution in Michigan, played a significant role in the state’s economic landscape. It was known for its extensive branch network and services offered to both individuals and businesses.
The History of Detroit Bank & Trust
Detroit Bank & Trust traces its roots back to the 19th century, evolving through various mergers and acquisitions to become a leading force in Michigan’s banking industry. Throughout its history, it provided banking services, loans, and trust management.
Services Offered
Detroit Bank & Trust offered a full suite of banking services, including checking and savings accounts, loans, mortgages, and investment management. It served a wide range of clients, from individuals to large corporations. The trust department, as the name suggests, offered services related to estate planning, asset management, and fiduciary responsibilities.
Acquisition and Legacy
Ultimately, Detroit Bank & Trust was acquired by Comerica Bank, another major player in the Michigan banking scene. The acquisition marked the end of an era for Detroit Bank & Trust, but its legacy continues to influence the region’s financial sector. More on the Detroit’s banking history can be found on Wikipedia.
Frequently Asked Questions
Who acquired Detroit Bank & Trust?
Detroit Bank & Trust was acquired by Comerica Bank.
When was Detroit Bank & Trust founded?
While the exact founding date is complex due to mergers, its roots trace back to the 19th century.
What services did Detroit Bank & Trust offer?
They offered a full range of banking services, including checking, savings, loans, mortgages, and trust services.
Where were Detroit Bank & Trust branches located?
Branches were primarily located throughout Michigan.
Is Detroit Bank & Trust still in existence?
No, Detroit Bank & Trust no longer exists as an independent entity.
Summary
Detroit Bank & Trust was a prominent Michigan bank with a long history and a significant impact on the state’s financial landscape. While it no longer exists as an independent entity due to its acquisition by Comerica Bank, its legacy remains.
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