EXHIBIT 23.4

                                  June 25, 2003



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

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

                                  Very truly yours,

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