From a naming perspective , the history of Bank of America dates back to October 17 , 1904 , when Amadeo Pietro Giannini founded the Bank of Italy in San Francisco . The Bank of Italy served the needs of many immigrants settling in the United States at that time , providing services denied to them by the existing U.S. banks which typically discriminated against them and often denied service to all but the wealthiest . Giannini was raised by his mother and stepfather Lorenzo Scatena after his father was fatally shot over a pay dispute with an employee . When the 1906 San Francisco earthquake struck , Giannini was able to save 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 commence lending within a few days of the disaster . From a makeshift desk consisting of a few planks over two barrels , he lent money to those who wished to rebuild . In 1922 , Bank of America , Los Angeles was established with Giannini as a minority investor . This bank was headed by Orra E. Monnette . Between 1923 and 1930 , when the two organizations operated separately . Giannini established Bank of America and Italy . In 1986 , Deutsche Bank AG acquired 100 % of Banca d'America e d'Italia , a bank established in Naples in 1917 following the name-change of Banca dell ' Italia Meridionale with the latter established in 1918 . In 1918 another corporation , Bancitaly Corporation , was organized by A. P. Giannini , the largest stockholder of which was Stockholders Auxiliary Corporation . This company acquired the stocks of various banks located in New York City and certain foreign countries . In 1918 , the Bank opened a Delegation in New York in order to follow American political , economic and financial affairs more closely ; together with the London Delegation , this was the first permanent overseas office opened by the Bank , at a time when the foundations were being laid for the restructuring of the international money market . In 1928 , Giannini merged his bank with Bank of America , Los Angeles , headed by Orra E. Monnette and consolidated it with other bank holdings to create what would become the largest banking institution in the country . Bank of Italy was renamed on November 3 , 1930 , to Bank of America National Trust and Savings Association , which was the only such designated bank in the United States at that time . Giannini and Monnette headed the resulting company , serving as co-chairs
1906 San Francisco earthquake
1906 San Francisco earthquake
Bank of America