Tuesday, September 14, 2010

Bank of America

Contrary to the History Channel's "America, The Story of US" the bank of Massachusetts did not become the Bank of America, the Bank of America was formerly The Bank of Italy, based in San Francisco. Having nothing to do with Massachusetts.

It was founded in San Francisco in 1904 by Amadeo Giannini. It grew by a branch strategy to become The Bank of America, the world's largest commercial bank with 493 branches in California and assets of $45 billion in 1945.

Evidence:
June 24, 2010
An episode on Ernest & Julio Gallo Winery. The
narrator says that Julio (or Ernest) went to the bank in Modesto to take out a
loan, the bank on the picture accompanying this statement was a picture of The Bank of Italy.

Infor Source: wikipedia.org; TV documentary
Image Source: latimesblog.latimes.com

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