18380. 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 29, 1927
Location
Portland, Oregon (45.523, -122.676)

Metadata

Model
gpt-5-mini
Short Digest
b2e73b3d

Response Measures

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

Description

Newspapers (Mar 30, 1927) report a run on the First National Bank of Portland. Large intercity shipments of cash (about $15 million) were rushed from San Francisco and Seattle to stop withdrawals. There is no mention of a suspension, closure, or receivership; the bank remained open after funds arrived, so this is classified as a run only. Cause appears to be contagion/fears connected to other banks (payments and guarantees by other national banks allayed fears).

Events (1)
1. March 29, 1927 Run
Cause
Local Banks
Cause Details
Contagion/fear from other banks' situations; payments and guarantees by other national banks helped allay fears.
Measures
About $15,000,000 in cash rushed from San Francisco and Seattle and transferred to the First National Bank to halt the run; payments by other national banks helped reassure depositors.
Newspaper Excerpt
RUSH FIFTEEN MILLION TO HALT RUN ON BANK ... money sent from San Francisco, Seattle ... to the First National bank.
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

Click image to open full size in new tab

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

Click image to open full size in new tab

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