The USS Squalus wasn't the first sub to sink, but the story is quite dramatic in that all the crew members that survived the sinking (33) were rescued.
You can read about it
hereThe sub was eventually recovered, refurbished and recommissioned as the USS Sailfish in 1940. It was decomissioned after WWII and On Veteran's Day 1946, a section of the submarine, including her bridge, conning tower and a piece of the deck, were established as a memorial in the Portsmouth shipyard, dedicated to the accomplishments of the submarine service.
The Latin term
squalus is used to describe the genus of spiny dogfishes (sharks).