Which bank, chartered in 1781, is generally considered the first national bank of the United States?

The Bank of North America, chartered in 1781, is generally considered the first national bank of the United States.

The Continental Congress granted the bank a charter during the American Revolutionary War. Its purpose was to help stabilize public finances, support the Continental Army, and improve the government’s ability to borrow and transfer funds. Robert Morris, the superintendent of finance, played a central role in its creation.

The bank should not be confused with the First Bank of the United States, established in 1791 under Alexander Hamilton’s financial program. The First Bank was a later federal institution with a broader national mandate, while the Bank of North America emerged during the Confederation period.

The Bank of North America was based in Philadelphia and later became part of other banking organizations. Its early charter makes it an important link between Revolutionary finance and the United States banking system that followed.