Paine Bank facts for kids
Quick facts for kids |
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Paine Bank
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 Location in Michigan
Location in the United States
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| Location | 1008 Oak St., Niles, Michigan |
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| Area | less than one acre |
| Built | 1843 |
| Architectural style | Greek Revival |
| NRHP reference No. | 73000945 |
| Added to NRHP | May 8, 1973 |
The Paine Bank is an old bank building in Niles, Michigan. It is located at 1008 Oak Street. This building is a special historic place. It was added to the National Register of Historic Places in 1973.
Contents
The Story of Paine Bank
Rodney Paine's Early Life
Rodney C. Paine grew up in New York. He worked in different offices when he was young. He gained experience in a canal office, a post office, and a bank.
Starting a Bank in Michigan
In 1836, Paine's brother-in-law, John A. Welles, worked at a bank in Detroit. He asked Paine to open a new bank office in western Michigan. This area was growing very fast back then. Paine opened his first office in St. Joseph. People quickly trusted him. He was even chosen to be the county treasurer.
Paine's Money
During a tough economic time called the Panic of 1837, many banks struggled. But Paine was so trusted that he issued special notes. These notes were accepted by people just because Paine said they were good. These special notes became known as "Paine's Money."
Moving to Niles
In 1840, Paine moved to Niles. He opened a bank office there. In 1843, he built this small bank building. It was designed in the Greek Revival style. It was first located at Third and Main Streets. Paine also built his home nearby. This home is now known as the Ring Lardner House.
Paine's Bank Operations
Paine's bank was first part of the Farmers & Mechanics Bank. This lasted until 1852. After that, it became a private bank. It was owned and run by Rodney C. Paine himself. It was simply called Paine's Bank.
Rodney Paine's Impact on Niles
Rodney Paine worked hard to help Niles grow. He invested in local businesses. He also served as a director for the public schools. In 1855, he was elected to the state senate. This shows how important he was to his community. Paine passed away in 1875.
The Bank Building's Journey
The Paine Bank building has been moved two times. The first move was in 1883. It was moved to South Third Street. Then, in 1961, it was moved again. This time it went to its current spot. Today, the building is used for storage.
What the Bank Looks Like
Paine's Bank is a small building. It is white and has one story. It is built in the Greek Revival style. This style looks like ancient Greek temples. The front of the building has a special porch. It has four tall, round columns. These columns have lines carved into them. This porch makes the building look very grand.
