The First Major Bank Heist in American History



The first American bank heist occurred on August 31, 1798 when Isaac Davis and Thomas Cunningham decided to rob The Bank of Pennsylvania in Philadelphia. Davis was a member of the Carpenters’ Company, the association that owned the building, and Cunningham was a porter at the bank. Patrick Lyon, a blacksmith who had forged the vault doors and fitted the locks just weeks before the robbery, was initially a suspect in the heist. However, he had left Philadelphia for Delaware five days before the robbery to escape a yellow fever epidemic. He returned to Philadelphia to plead his case but was imprisoned anyway because a police officer named John Haines wanted to collect the $2,000 reward. Davis and Cunningham were eventually caught. Davis admitted to the crime but was let go in a deal arranged by his uncle, who was a powerful judge. Cunningham died of yellow fever several days after the heist. Meanwhile, Lyons remained in jail for nearly a near before being cleared by a grand jury. He sued the president of the Bank of Pennsylvania, two other bank officials, Haines, and an alderman for damages over false imprisonment. He was awarded $12,000 ($258,000 today). Meanwhile, even though Davis returned the money, he got off scot-free.