First National Bank - Detroit, MI

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 97
Charter Number: 2707
Start Date: February 1, 1893*
Location: Detroit, Michigan (42.331, -83.046)

Metadata

Model: gpt-5-mini
Short Digest: 02130265f3e49c77

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Article (Feb 17, 1893) reports a run on the First National Bank of Detroit prompted by circulating reports the bank was in bad condition; bank paid depositors who requested funds and was reported healthy. No suspension or closure mentioned.

Events (4)

1. October 5, 1863 Chartered

Source: historical_nic

2. June 19, 1882 Chartered

Source: historical_nic

3. February 1, 1893* Run

Cause: Rumor Or Misinformation
Cause Details: Circulating report that the First National Bank of Detroit was in bad condition (unfounded); article emphasizes bank paid depositors and statement showed healthy condition.
Measures: Paid every depositor who requested funds in full; issued statement showing healthy condition.
Newspaper Excerpt: A report was in circulation on the streets of Perhan last week that the First National bank of Detroit was in a bad condition. The Record states that a run was made upon it, but that every depositor, that requested it was paid in full, and that the statement of the bank showed a healthy institution.
Source: newspapers

4. April 30, 1914 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. February 17, 1893 Little Falls Transcript Little Falls, MN

Article from Little Falls Transcript, February 17, 1893

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Article Text

A report was in circulation on the streets of Perhan last week that the First National bank of Detroit was in a bad condition. The Record states that a run was made upon it, but that every depositor, that requested it was paid in full, and that the statement of the bank showed a healthy institution. The Bulletin is glad to know that the institution stands on a solid basis -Perhan Bulletin.