EXHIBIT 23.4


                               September 30, 2002


Capitol Bancorp Limited
200 Washington Square North, 4th Floor
Lansing, Michigan  48933

     RE: EAST VALLEY COMMUNITY BANK

Ladies and Gentlemen:

     JMP  Financial,  Inc.  hereby  consents  to  your  including  a copy of the
fairness opinion in the proxy  statement/prospectus  with regards to East Valley
Community   Bank   and  to  the   reference   to   this   firm   in  the   proxy
statement/prospectus  as  financial  advisor to East Valley  Community  Bank and
under the caption "Opinion of Financial Adviser".

                                        Very truly yours,

                                        /s/ John Palffy
                                        ---------------------------
                                        John Palffy
                                        President