Lithuanian litas
Already in October 1911, Banaitis and lawyer Antanas Petraitis established a small Lithuanian credit union. The number of union members grew from 70 to 429 in January 1915. By the time it was liquidated due to World War I, its balance was 554,000 rubles. In early 1918, the Council of Lithuania discussed the need for a Lithuanian bank. Banaitis, , , and others established the Trade and Industry Bank, which was approved in December 1918 becoming the first Lithuanian bank. Banaitis was elected to its council and obtained 300,000 German marks to purchase weapons and ammunition for the Lithuanian Army from the Germans. Initially, the bank was successful and raised substantial capital from the Lithuanian government, prominent Lithuanians, and Lithuanian Americans. However, due to the hyperinflation of the German mark, mishandled transition to the Lithuanian litas, and general mismanagement, the bank suffered major financial losses. In September 1927, Banaitis, on behalf of the board, officially declared the bank bankrupt.