What was the name of the first bank established in the United States, founded in Philadelphia in 1781?

The Bank of North America was the first bank established in the United States, founded in Philadelphia in 1781.

It was chartered by the Confederation Congress during the American Revolutionary War. Robert Morris, the superintendent of finance, supported the institution as a way to improve public credit, organize government payments, and help finance the war effort.

The bank received a charter from Congress in 1781 and a Pennsylvania charter in 1782. It accepted deposits, made loans, and assisted the new government with financial operations. Its creation came before the Constitution and before the later First Bank of the United States.

It is often confused with the First Bank of the United States, chartered in 1791 under Alexander Hamilton’s financial program. The Bank of North America was a separate institution, although its history became connected with later Philadelphia banks through mergers and reorganizations.