EXHIBIT 23.4


                                  May 30, 2003


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

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

                                        Very truly yours,

                                        /s/ JOHN PALFFY
                                        ---------------------------
                                        John Palffy
                                        President