Bank of Italy

    The of Bank of America dates back to March 17, 1904, when Amadeo Pietro Giannini founded the Bank of Italy in San Francisco. The lender of Italy served the needs of many immigrants deciding in the United Says at that time, providing services denied to them by the existing American banks which typically discriminated against them and often denied service to essentially the wealthiest. Giannini progressed up by his mom and stepfather Lorenzo Scatena, as his father was fatally shot over a pay dispute with an employee. When the 1906 San Francisco earthquake hit, Giannini was able to save all deposits away of the bank building and away from the fires. Because San Francisco's banks were in smoldering ruins and not able to open up their vaults, Giannini was able to use the rescued funds to start off lending within a few days of the catastrophe. From a makeshift table consisting of a few planks over two barrels, he lent money to those who wished to rebuild.



In 1922, Giannini established Bank of America and Italy in Italia by buying Banca dell'Italia Meridionale, the latter set up in 1918.[citation needed]

In 1928 Giannini joined his bank with Loan company of America, Los Angeles, headed by Orra At the. Monnette and consolidated it with other bank loge to create what would become the major bank institution in the country. Bank of Italy was renamed on November 3, 1930 to Bank of America National Trust and Savings Association, which has been the only such designated loan company in the United Claims of America during those times. Giannini and Monnette headed the resulting company, serving as co-chairs