15965. First National Bank (Portland, OR)

View Charter #1553 on SPMC

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
1553
Charter Number
1553
Start Date
March 30, 1927
Location
Portland, Oregon (45.523, -122.676)

Metadata

Model
gpt-5-mini
Short Digest
598fa7500e69473e

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Public signal of financial health

Description

Two contemporaneous articles (Mar 30, 1927) report a run on the First National Bank of Portland that was halted by shipments of cash and payment of deposits from correspondent/other banks. There is no mention of a suspension or closure; operations were continued. OCR errors in the clips made some phrases garbled; dates inferred from publication (Mar 30, 1927). Cause is classified as rumor_or_misinformation because the accounts refer to vague fears and a run allayed by assurances/payments rather than concrete bank-specific insolvency.

Events (2)
1. September 8, 1865 Chartered
Source
historical_nic
2. March 30, 1927 Run
Cause
Rumor Or Misinformation
Cause Details
Vague fears and nervousness led deposit withdrawals; shipments of cash and payments from other banks allayed fears.
Measures
Large shipments of cash (reported $15,000,000) sent from San Francisco and Seattle; deposits paid by correspondent banks to reassure depositors.
Newspaper Excerpt
RUSH FIFTEEN MILLION TO HALT RUN ON BANK ... money sent from San Francisco, Seattle ... to halt the run
Source
newspapers

Newspaper Articles (2)
1. March 30, 1927 The Grand Rapids Press Grand Rapids, MI
Article from The Grand Rapids Press, March 30, 1927

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Article Text

RUSH FIFTEEN MILLION TO HALT RUN ON BANK Portland, Ore., March dollars cash was Tuesday run the bank which began Monday and continued mildly. The money sent from San Francisco, Seattle bank passed the United States National bank First National bank. Transfer the bank and decisions from inroads the run. crowd hand when the bank opened Tuesday.

2. March 30, 1927 The Seattle Star Seattle, WA
Article from The Seattle Star, March 30, 1927

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Article Text

DEPOSITS PAID Plenty of Money Checks "Run' on Portland Bank Mar. payment of of the National this fears seem to been allayed and the Guarantee payment by States National bank and the First National bank created feeling of on the of the and It All are being then the bank will be