Bank of the United States, in Third Street Philadelphia by W. Birch & Son. Photo Credit: Library Company of Philadelphia

The Independence Historical Trust is spearheading a major effort to bring new life to one of Philadelphia’s most significant historic treasures, the First Bank of the United States. Often called Alexander Hamilton’s bank, the building has stood at the heart of the city’s financial history since the 1790s. Now, after nearly nine years of planning and partnership, the Trust is working toward a public reopening in 2026 as part of the America250 anniversary commemorations.

The project began in 2017 when the National Park Service approached the Trust for support. The building had not been open to the public for several decades, and the scale of needed repairs demanded a coordinated public and private effort. The Trust launched a fundraising campaign to cover architectural drawings, engineering work, and early phases of construction. Their efforts raised $4.5 million for design and planning. This groundwork positioned the project to initially receive over $22 million in federal funding through the Great American Outdoors Act’s Legacy Restoration Fund. The First Bank became one of the earliest examples of a public-private partnership funded through the act.

“The First Bank Rehabilitation Project demonstrates the core of what we do at the Trust – enhance the resources of the National Park Service through partnership and philanthropy,” said Jonathan Burton, Director of Development. 

The Trust is collaborating with a wide range of partners to complete the substantial renovations, working with John Milner Architects to carefully restore the building’s historic character while preparing it for modern use. Since the July 2023 groundbreaking, the team has also partnered with museum and exhibit experts, academic institutions such as Drexel University, the Park Service, donors, and community groups to enhance the visitor experience and highlight the bank’s connection to the wider historic district. Despite being a small organization with just four staff members and a volunteer Executive Director, the Trust’s collaborative approach brings together experts in preservation, education, and museum practice, ensuring the project reflects both broad community input and professional expertise.

Rendering of the new addition on the west side of the First Bank. Photo Credit: John Milner Architects

Plans for the 2026 reopening are already underway. The Trust and the Park Service are preparing a donor preview night followed by a public celebration that will highlight the nine-year effort behind the restoration. The reopening will also connect to Philadelphia’s larger initiative called 52 Weeks of Firsts. The First Bank will join other important local firsts such as the United States officially adopting its name and the site of one of the earliest American post offices.

“This building is a National Historic Landmark in the heart of Philadelphia’s Historic District and is woven into the very fabric of our neighborhood. We’re looking forward to making sure the First Bank has something for everyone, from history programs to community events to a hotspot for wedding photos,” said Maiti Gallen, Director of Operations.

This project demonstrates the essential role that Friends groups play in preserving the nation’s heritage. Independence Historical Trust, like many Friends organizations that support national parks, serves as a bridge between public institutions and the communities they serve. By combining private philanthropy, professional expertise, and strong collaboration with the National Park Service and other partners, the Trust shows how Friends groups can mobilize resources and momentum that would be difficult for any single entity to achieve alone. When the First Bank reopens in 2026, it will stand not just as a restored landmark but as a testament to the power of partnership and the vital impact of Friends groups working hand in hand with public agencies.

Construction groundbreaking with Independence Historical Trust, Independence National Historical Park, and project partners on July 10, 2023. Photo Credit: National Park Service

About Independence Historical Trust: 

Independence Historical Trust is a 501(c)3 nonprofit organization whose primary mission is to support Independence National Historical Park by protecting, preserving, and interpreting Independence Hall, the Liberty Bell, and the vibrant gateway communities. Established in 1972, the Trust was the first Friends group to support a national park. As a partner, the Trust invests the public’s philanthropic dollars in park programs, conservation efforts, and capital campaigns. The Trust also works with other partners in the historic area to enhance the visitor experience. For over 53 years, the Trust has been the Philanthropic Partner of Independence National Historical Park. To support these initiatives or learn about other Semiquincentennial projects, please visit the website at http://www.INHT.org.