16526. First National Bank (Philadelphia, PA)

View Charter #1 on SPMC

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
1
Charter Number
1
Start Date
February 20, 1869
Location
Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model
gpt-5-mini
Short Digest
21a61e8637f7db5c

Response Measures

Accommodated withdrawals

Description

OCR corrected 'Fist' to 'First'. Articles (datelined Feb 20, 1869) report the cashier was a defaulter for ~$100,000 and had fled, producing a slight run; the doors were not closed and there is no mention of suspension or closure.

Events (3)
1. June 20, 1863 Chartered
Source
historical_nic
2. February 20, 1869 Run
Cause
Bank Specific Adverse Info
Cause Details
Cashier allegedly defrauded the bank of approximately $100,000 and fled, triggering depositor withdrawals.
Measures
Bank remained open; doors were not closed despite a slight run.
Newspaper Excerpt
It is reported that the Cashier of the First National Bank is a defaulter in the sum of $100,000, and has made his escape. There was a slight run on the bank to-day, but the doors were not closed.
Source
newspapers
3. June 14, 1882 Chartered
Source
historical_nic

Newspaper Articles (2)
1. February 21, 1869 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
Article from Memphis Daily Appeal, February 21, 1869

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Article Text

1120 PHILADELPHIA. PHILA DELPHIA, February 20.-It is reported that the "Cashier of the Fist National Bank is a defaulter in the sum of $100,000, and has made his escape. There was a slight run on the bank to-day, but 18 FORM the doors were not closed.

2. February 22, 1869 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
Article from Memphis Daily Appeal, February 22, 1869

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Article Text

PHILADELPHIA. PHILADELPHIA, February 20.-It is reported that the Cashier of the Fist National Bank is & defaulter in the sum of $100,000, and has made his escape. There was a slight run on the bank to-day, but the doors were not closed.