Bank of Italy

Bank of Italy. . , In 1904 San Jose native Amadeo Peter Giannini founded the Bank of Italy in San Francisco, which later became Bank of America in 1930. Revolutionizing the banking industry, Giannini was committed to helping previously underserved members of the community such as the working class, immigrant populations and small businesses. , His bank was the first to encourage children to start saving by creating a School Savings program in 1911; he started a Women's Banking Department in 1921; and financed California's booming agricultural economy at a time when it was difficult for farmers to get loans. The Bank of Italy was the first to advertise door-to-door, in magazines and newspapers where, for the first time, they explained banking procedures to the public. , The bank helped finance the Hollywood film industry with loans for projects such as Snow White and the Seven Dwarfs, Gone with the Wind, and director Frank Capra's It's a Wonderful Life. Capra based the main character in his 1932 film American Madness on Giannini. In another major undertaking Bank of America financed the construction of the Golden Gate Bridge in 1932 during the heart of the Depression. , Giannini also created the first successful branch banking system in the United States. Bank of Italy's first branch outside of San Francisco was in San Jose. The bank bought San Jose's Commercial and Savings Bank in 1909 and converted it to Bank of Italy. , Funded by Bank of America and dedicated in 1976, this building is a replica of that first Bank of Italy branch. , photo captions: , Above: Amadeo Peter Giannini (1870 - 1949), 1904. A.P. Giannini was born in downtown San Jose at the Swiss Hotel located at North Market and St. John Streets. History San Jose Collection. , Top: Bank of Italy, c. 1912. This bank branch operated at the corner of West Santa Clara Street and Lightston Alley. History San Jose Collection. , Right: Bank of Italy Interior, 1911. The Bank of Italy staffed their offices with local personnel, and Giannini required all employees to be bilingual, providing services in French, Spanish, Italian, and Portuguese. History San Jose Collection.