Giannini founded the Bank of Italy in San Francisco on October 17 , 1904 . The bank was housed in a converted saloon as an institution for the " little fellow " . It was a new bank for the hardworking immigrants other banks would not serve . He offered those ignored customers savings accounts and loans , judging them not by their wealth , but by their character . Deposits on that first day totaled $ 8,780 . Within a year , deposits soared above $ 700,000 ( $ 13.5 million in 2002 dollars ) . The 1906 San Francisco earthquake and fires leveled much of the city . In the face of widespread devastation , Giannini set up a temporary bank , collecting deposits , making loans , and proclaiming that San Francisco would rise from the ashes
1906 San Francisco earthquake
1906 San Francisco earthquake
Amadeo Giannini