Lapeer County Bank – 1886
201 East Third Street
John Borland, Sr. was born in Ayrshire, Scotland in 1832, and came to the United States in 1852. He settled in Romeo, MI, in 1860. Later, learning of a new town on the railroad, he moved his family to Imlay City, opening a general store in November of 1870; the first place where goods were retailed. This pioneer merchant ran a first class general store. He sold his store in 1870 and started a private bank, naming it the Lapeer County Bank. It was organized as State Bank No. 24 on February 8, 1886. He built this building on the corner of Third and Bancroft streets in 1886.
The building was described in an early publication as follows: “The building is a fine two-story brick…..the main entrance being directly on the corner. It is a finely constructed edifice, and adds materially to the appearance of the village…..The office is an elegantly finished apartment, roomy, and perfectly adapted to its uses. It is finished in oak, beautifully paneled and veneered in birdseye maple trimmings. It is lighted by triple windows arched with stained glass. To the right of the counting-room is the private office, fitted up plainly and yet appropriately in accordance with the general design. …..the vaults are absolutely safe, a fact of no little consequence to those who make deposits therein of valuable papers or articles.”
In earlier years, the second story of the bank building was used as an attorney’s office, dressmaker’s shop and dentist offices. A doctor used the rear of the lower level as his offices.
The bank prospered and became an asset to Imlay City. Mr. Borland’s two sons, John Jr. (Jock) and William were bank assistants and they continued the operations of the bank after their father’s death in June of 1919. The Great Depression forced banks to close in Michigan in 1932. A new bank was then organized and opened on April 26, 1935, known as the Imlay City State Bank. On May 1, 1985, Security Bancorp of Southgate completed consolidation plans with Imlay City State Bank, and it became Security Bank of Imlay City.
Lapeer County Bank
201 East Third Street