Bank of America began with a family from Favale di Malvaro
Amadeo Peter Giannini's parents had left Favale di Malvaro, a small village in the hills behind Chiavari, in Liguria near Genoa. Born in California in 1870, Giannini opened the Bank of Italy in a former San Francisco saloon in 1904, lending to Italian artisans and small traders no other bank would take. After the 1906 earthquake he set up a table amid the crowd of survivors, hung out a sign saying the bank was open, and started issuing loans for the reconstruction. In 1927 his bank took a new name: Bank of America.
