Centennial National Bank

Centennial National Bank

Company type	Bank (historical)
Industry	Banking
Founded	1876 (1876)
Founder	Clarence Howard Clark, Sr.
Fate	Acquired by Drexel University circa 1976; repurposed as alumni center
Headquarters	Philadelphia , United States
Area served	West Philadelphia
Key people	Clarence Howard Clark, Sr. (inaugural president)
Products	Banking services (historical)

The Centennial National Bank is a landmark structure in Philadelphia, crafted by architect Frank Furness and completed in 1876 to serve as the bank’s main office. It functioned as the fiscal agent for the Centennial Exposition. From 1956 until approximately 1976, it contained a branch of First Pennsylvania Bank before being acquired by Drexel University. Between 2000 and 2002, Drexel undertook renovations and repurposed the building as an alumni center. Celebrated as "one of the finest architectural works in West Philadelphia," it was entered into the National Register of Historic Places in 1971.

History

Operations at Centennial National Bank commenced in January 1876, just prior to the completion of its permanent headquarters that same year. Frank Furness, recently independent after his separation from George Hewitt, secured the design commission through his connections with the bank’s board members.

The bank was granted exclusive authority to handle ticket sales and currency exchanges for the Centennial Exposition, which opened on July 4 in celebration of America’s centennial anniversary. It maintained a branch on the exposition grounds and remained West Philadelphia’s sole national bank for many years. The building continued functioning as a banking branch until First Pennsylvania Bank vacated it between 1965 and 1971.

Drexel University acquired the property around 1976, initially utilizing it for office space before transforming it into an alumni center.

Design and construction

Chartered on January 19, 1876, to support Philadelphia’s international showcase at the Centennial Exposition—the first World's Fair held in North America—the Centennial National Bank appointed financier Clarence Howard Clark, Sr., a West Philadelphia developer, as its inaugural president.

Clark commissioned Furness, an acquaintance from Unitarian circles, to design the bank’s headquarters. Previously collaborating with George Hewitt on successful bank projects, Furness undertook this assignment independently following their partnership dissolution in late 1875.

Situated at 32nd and Market streets, the building features a corner entrance oriented toward Lancaster Avenue—a purposeful choice aimed at attracting visitors traveling diagonally toward the Exhibition grounds in West Fairmount Park. The location also intersects with Woodland Avenue, enhancing its accessibility. Construction was completed by April 1876, enabling immediate use.

Use as a bank

During the Centennial Exposition, a branch operated on-site to manage ticket revenue and currency exchanges.

By the turn of the century, it stood as West Philadelphia’s only national bank, generating profits of $274,392 under leadership from prominent local businessmen.

In 1956, First Pennsylvania Banking and Trust Company designated it as their "Centennial Branch." Ownership remained with First Pennsylvania through 1965; however, by 1971 the building had become vacant under the stewardship of the Philadelphia Redevelopment Authority.

Reuse

Near the time of the U.S. Bicentennial, Drexel University took ownership of the structure and initially used it for administrative offices while seeking funds to renovate it into a museum. Following restoration efforts, it reopened in 2002 as the "Paul Peck Alumni Center," accommodating Drexel’s alumni relations department, event spaces, and an art gallery showcasing university collections.

In 2012, Drexel hosted an exhibition focused on Frank Furness’ commercial architecture within this historic venue.

Architecture

Frank Furness's design for the Centennial National Bank showcases his distinct Venetian Gothic style, reflecting a shift from his earlier British-inspired High Victorian Gothic creations. Despite various modifications, the building's exterior largely preserves its initial architectural essence.

Shortly after its completion, an architectural publication praised the structure:

Furness developed a unique technique for crafting these "brilliant glass tiles," which involved painting on the interior surface of glass backed by layers of gold leaf and tin foil to secure the gold. This process resulted in vibrantly reflective glass commonly utilized for floral decorative elements. Beyond the Centennial National Bank and the Academy, Furness incorporated this method in his Brazilian Court at the Centennial Exhibition but did not continue its application thereafter. Around the same period in the mid-1870s, innovators like John LaFarge and Louis Tiffany were also advancing similar ornamental glass techniques.

Alterations

The building's interior underwent changes in 1893 and 1899 when Philadelphia architect Frank Miles Day extended the rear portion, carefully maintaining Furness’s original stylistic approach.

In 1956, architect Bud Ross reconfigured the interior by splitting the original single level into two floors and simplified some exterior features.

Between 2000 and 2002, Voith & Mactavish Architects executed a $4 million restoration project that repurposed the structure as Drexel University's alumni center.

Recognition

In 1965, the building was recorded by the Historic American Buildings Survey as part of the National Park Service’s Mission 66 initiative. It earned a place on the Philadelphia Register of Historic Places on January 4, 1966, followed by inclusion in the National Register of Historic Places on March 11, 1971. The National Register nomination emphasized its architectural and commercial significance, describing it as "a major surviving work of Frank Furness, an important example of Victorian architecture in Philadelphia, and one of West Philadelphia’s most distinguished buildings."