EXHIBIT 23.4

                                  May 30, 2003

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

     RE: BLACK MOUNTAIN 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  Black
Mountain  Community  Bank  and  to the  reference  to  this  firm  in the  proxy
statement/prospectus  as financial advisor to Black Mountain  Community Bank and
under the caption "Opinion of Financial Adviser".

                                        Very truly yours,

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