The Bank of Italy was founded in San Francisco, California in 1904 by Amadeo Giannini. The bank was established to serve working class citizens of the area, especially Italians living in San Francisco’s North Beach neighborhood. The bank survived the San Francisco earthquake and fire of 1906, and was one of the first to offer loans to businesses to help rebuild the city.

In 1929, Giannini arranged a merger between his bank and Bank of America, Los Angeles. As Chairman of the new Bank of America, Giannini expanded the bank throughout his tenure, which ended with his death in 1949.

Also see: Bank of America

External Links

National Historic Landmarks: Bank of Italy Building, San Francisco