On July 1, 1863, banker Edmund Aiken and his partners invested $100,000
to found a new federally chartered bank under the guidelines established
by new federal banking legislation. Capitalizing on a February 1863 law
that permitted the formation of national banks, The First National of
Chicago, operating under Charter #8 from the comptroller to the
currency, opened its door on July 1, 1863, the day on which the Battle
Gettysburg commenced.
By 1876, First National ranked as the city's largest bank; it (and its
descendants) would continue to be either Chicago's biggest or second
biggest bank through the end of the twentieth century.
From the era of the Civil War when Chicago was the central hub of rail
traffic in America until its merger with NBD Corporation, the First
National Bank of Chicago rightfully claimed to be Chicago’s bank.
In 1919, The First National Bank of Chicago created an affiliate, First
National Investment Co., which invested in second mortgages and operated
a travel agency.
In 1969, when First National moved into a new skyscraper in Chicago's
loop, it became part of the First Chicago Corp., a holding company for
the bank.
Among Midwestern banks, The First National Bank of Chicago was perhaps
the most active internationally, establishing offices in 25 countries by
1973.
The First National Bank of Chicago
