bank

Bank of America's history dates to 1904, when Amadeo Giannini founded the Bank of Italy in San Francisco to cater to immigrants who were denied service from other banks.^[24][25] Amadeo was raised by the Fava/Stanghellini family when his father was shot while trying to collect on a $10.00 debt.^{[citation needed]} When the1906 San Francisco earthquake struck, Giannini was able to get all deposits out of the bank building and away from the fires. Because San Francisco's banks were in smoldering ruins and unable to open their vaults, Giannini was able to use the rescued funds to start lending within a few days of the disaster. From a makeshift desk of a few planks over two barrels, he loaned money to anyone who was willing to rebuild. Later in life, he took great pride that all of these loans were repaid.