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4 days ago · Bank of America is headquartered in Charlotte, North Carolina. The bank’s history dates to 1904 when Amadeo Peter Giannini opened the Bank of Italy in San Francisco. It eventually developed into the Bank of America and was for a time owned by Giannini’s holding company, Transamerica Corporation.
The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina, with investment banking and auxiliary headquarters in Manhattan. The bank was founded by the merger of NationsBank ...
On November 20, 2006, Bank of America announced the purchase of The United States Trust Company for $3.3 billion, from the Charles Schwab Corporation. US Trust had about $100 billion of assets under management and over 150 years of experience. The deal closed on July 1, 2007. Continue in Storyteller.
Sep 10, 2020 · Originally Bank of America and before that Bank of Italy, founded by AP Giannini. Acquired by Charlotte-based NationsBank (NCNB in 1990) in 1998, which then adopted the Bank of America name. The original San Francisco BankAmerica also created the Bankamericard in 1958, renamed VISA in 1976, now a giant freestanding company.
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In 1909, the bank began opening branches in other cities, beginning with San Jose. It had 24 branches by 1918, at which time it was the first statewide branch banking system. The Bank of Italy merged with the smaller Bank of America, Los Angeles in 1928. In 1930, Giannini changed the name from "Bank of Italy" to "Bank of America".
In 1968, BankAmerica Corporation was created as a holding company to hold the assets of Bank of America N.T. & S.A. and to help the bank expand and better challenge its archrival, Citibank. This came just before banking deregulation, which affected Bank of America more adversely than was predicted.
On November 1, 1930, the Bank of Italy in San Francisco changed its name to Bank of America. The bank today has the same national bank charter number as Giannini's old bank— #13044. When A.P. Giannini died in 1949, the former single-teller office in North Beach claimed more than 500 branches and $6 billion in assets.
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