First National Bank (Bangor, ME)

View Charter #112 on SPMC View balance sheet

Episode Information

Episode UID
11201467
Episode Type
Run Only
Bank Type
national
Bank ID
1120 national
Charter Number
112
Start Date
March 5, 1922
Location
Bangor, Maine (44.801, -68.778)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d3f254aa9b2b61be

Response Measures

Accommodated withdrawals, Public signal of financial health

Events (3)
1. October 24, 1863 Chartered
Source
historical_nic
2. March 5, 1922 Run
Cause
Rumor Or Misinformation
Cause Details
About $85,000 withdrawn over three days due to unfounded rumors originating in northern Maine.
Measures
Bank issued a public statement and noted >$1,000,000 on deposit with the Federal Reserve Bank in Boston immediately available.
Newspaper Excerpt
The First National Bank of this city in a statement to-night took cognizance of a run on the institution in which it said about $85,000 had been withdrawn by small depositors in the last three days.
Source
newspapers
3. February 28, 1928 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (3)
1. March 6, 1922 New-York Tribune New York, NY
Article from New-York Tribune, March 6, 1922

Click image to open full size in new tab

Article Text

Bank Issues Statement on Run Baseless Rumors Caused BANGOR, ME. March 5. The First National Bank of this city in a statement to-night took cognizance of a run on the institution in which it said about $85.000 had been withdrawn by small depositors in the last three days. The statement asserted that the run was due to unfounded rumors and that the bank had resources of $1,300,000 in excess of deposits and other liabilities, with more than $1,000,000 on deposit with the Federal Reserve Bank in Boston which is immediately available.

2. March 6, 1922 The New York Herald New York, NY
Article from The New York Herald, March 6, 1922

Click image to open full size in new tab

Article Text

RUMORS START RUN ON BANK. First National of Bangor, Me., Has Large Surplus. BANGOR, Me., March 5.-The First National Bank. of this city in a statement to-night took cognizance of a run on the institution in which it said about $85,000 had been withdrawn by small depositors in the last three days. The statement asserted that the run was due to unfounded rumors and that the bank had resources of $1,300,000 in excess of deposits and other liabilities. with more than $1,000,000 on deposit with the Federal Reserve Bank in Boston which was immediately available.

3. March 6, 1922 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, March 6, 1922

Click image to open full size in new tab

Article Text

Banger Bank Weathers Run Caused by Rumors Without Foundation Bangor, Me., March 5.-The First National Bank publishes a statement occcasioned by a three days' run on that institution during which about $85.000 was withdrawn by small depositors. The statement points out that the bank has resources of $1.300,000 in excess of deposits and other liabilities, and also more than $1,000,000 on deposit with the federal reserve bank in Boston which is immmediately available. The run was caused by unfounded rumors originating in northern Maine.