Few know the story behind the founding of one of America’s largest banks - Bank of America.
Bank of America’s entire company could be attributed to the efforts of one man.
His name was A. P. Giannini.
Giannini was a man that fought hard for the common everyday worker.
He even attempted to persuade the directors of his former bank to lend money out to common everyday descent hard working people.
No, way would we lend money out to anyone other than the wealthy.
No to be dissuaded, Giannini set out to start his own bank named the Bank of Italy (later would go on to be renamed as Bank of America).
Within its first year of operation, the Bank of Italy went on to become the third largest bank in America!
It didn’t stop there:
Only two years after its founding the devastating great San Francisco earthquake hit leaving hundreds of thousands of people homeless and without any money.
Giannini immediately got to work:
He dug through the remains of his former bank and pulled together what he could manage into a wagon which he personally drove into town himself!
With two simple barrels and a plank of wood serving as his desk, he began giving loans out to people based on a handshake and judge of character through the eyes.
This was good:
Giannini’s efforts allowed people to quickly get back on their feet and begin the long hard process of rebuilding their lives.
Giannini was a man that was not motivated by a personal desire to accumulate wealth.
When the company board attempted one year to give Giannini a $1.5 million bonus, he gave it all away stating:
“Money itch is a bad thing. I never had that trouble.”
Here are some more truly astounding facts about Bank of America’s original founder that are sure to inspire you: