Bank of North America check signed by cashier Tench Francis, Jr. The Bank of North America was a private bank that was first chartered on May 26, 1781 by the Confederation Congress and opened in Philadelphia on Jan. 7, 1782. It is considered the first central bank in the United States and it also became the first initial public offering (IPO) in America. In 1791, the Bank of North America was succeeded in its role as central bank by the First Bank of the United States. This Bank of North America check reproduction would look great in your collection!