The sad thing is BOA started as such an extraordinary story in response to the earth quake in 1906 in San Francisco. Amandeo Giannini would be rolling over in his grave today.
Bank of America's history dates back to 1904, when Amadeo Giannini founded the Bank of Italy in San Francisco to cater to immigrants who were denied service from other banks. Amadeo was raised by the Fava/Stanghellini family when his father was shot while trying to collect on a $10.00 debt. When the 1906 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 in the fact that all of these loans were repaid.
Thanks +Roy DeYoung
for making this.
If you need a brand guy Roy is the man.