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Old 6th January 2018, 01:45 PM
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Default Re: History of Bank Of America Timeline

Bank of America Corporation (abbreviated as BofA) is a multinational banking and financial services corporation headquartered in Charlotte, North Carolina. It is ranked 2nd on the list of largest banks in the United States by assets

History of Bank of America
In 1922, 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 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 of America at that time. Giannini and Monnette headed the resulting company, serving as co-chairs.
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