About Bank of America
What’s known today as Bank of America was originally the Bank of Italy, a local bank in San Francisco founded by Amadeo Peter Giannini to support immigrants who other financial institutions wouldn’t serve. What began as a local bank that opened in 1904 in San Francisco expanded until it became the only statewide bank in California. Offices were opened in Italy and other U.S. cities and by 1945, it was the world’s largest bank.
A merger with NationsBank in 1998 made Bank of America the first bank that operated from coast to coast. Today, the bank is headquartered in Charlotte, North Carolina. It updated its logo in late 2018 and has a wide range of banking, small business and wealth management services.
Banking with Bank of America might make sense if you’re looking for an institution with top-notch digital features, an extensive branch network and plenty of ATMs. But bank elsewhere if you want to avoid bank fees or you’re trying to earn a high rate of return.