First National Bank - Springfield, MA

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 14
Charter Number: 14
Start Date: February 5, 1927
Location: Springfield, Massachusetts (42.101, -72.590)

Metadata

Model: gpt-5-mini
Short Digest: 560a5cfc

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

A run occurred on 1927-02-05 triggered by excitement after two state banks closed. The run was contained (deposits poured in and the bank remained open).

Events (3)

1. June 24, 1863 Chartered

Source: historical_nic

2. March 5, 1906 Voluntary Liquidation

Source: historical_nic

3. February 5, 1927 Run

Cause: Local Banks
Cause Details: Panic/excitement following the closing of two state banks in the city (deposits in the two closed banks about $2,000,000).
Measures: Prominent local men addressed the crowd, reassured depositors; many businesses deposited funds, bolstering liquidity.
Newspaper Excerpt: RUN ON BANK FAILS WHEN GROW run on the First National bank here today, the result of excitement following the closing of two state banks, brought out equal lines of those withdrawing and those depositing funds.
Source: newspapers

Newspaper Articles (1)

1. February 5, 1927 The Springfield Daily Republican Springfield, MA

Article from The Springfield Daily Republican, February 5, 1927

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Article Text

RUN ON BANK FAILS WHEN GROW run on the First National bank here today, the result of excitement fol lowing the closing of two state banks, brought out equal lines of those with drawing and those depositing funds. Depositors and spectators an hour before the bank opened, but by 10.30 virtually every business firm in the city had made deposits. Prominent men addressed the crowd, assuring the anxious depositors that the bank resources to protect depositors. Deposits in the two closed banks were about $2,000,000.