Founding of Bank of Italy
Bank of America traces its roots back to 1904 when Amadeo Giannini founded the Bank of Italy in San Francisco to cater to immigrants who were denied service from other banks.
1904
1928
Merger with Bank of America, Los Angeles
In 1928, Bank of Italy merged with Bank of America, Los Angeles, forming what would eventually become the modern Bank of America.
1930
Renamed to Bank of America
The combined entity was renamed Bank of America in 1930, marking the official start of the institution we know today.
1958
Introduction of BankAmericard
Bank of America introduced BankAmericard, which later became Visa, one of the first credit cards in the United States.
1983
Acquisition of Seafirst Corporation
Bank of America expanded its reach by acquiring Seafirst Corporation, the largest bank in Washington state.
1992
Merger with Security Pacific Corporation
Bank of America merged with Security Pacific Corporation, making it the second-largest bank in the United States at the time.
1998
Acquisition by NationsBank
NationsBank acquired Bank of America, adopting the Bank of America name and creating the first coast-to-coast bank in the United States.
2004
Acquisition of FleetBoston Financial
Bank of America acquired FleetBoston Financial, significantly expanding its presence in the northeastern United States.
2006
Acquisition of MBNA
Bank of America acquired MBNA, making it one of the largest credit card issuers in the world.
2008
Acquisition of Countrywide Financial
Bank of America acquired Countrywide Financial, becoming the largest mortgage lender in the United States.
2009
Acquisition of Merrill Lynch
Bank of America acquired Merrill Lynch, significantly boosting its investment banking and wealth management capabilities.
2011
Settlement of Mortgage Claims
Bank of America reached a $8.5 billion settlement with investors over claims related to mortgage-backed securities.
2014
Record Settlement with the DOJ
Bank of America agreed to a $16.65 billion settlement with the U.S. Department of Justice over its role in the financial crisis, the largest civil settlement with a single entity in American history.
2017
Introduction of Erica
Bank of America introduced Erica, an AI-driven virtual assistant, to enhance customer service through digital channels.
2022
Bank of America launched "Pay by Bank," a real-time payment solution for e-commerce transactions, leveraging open banking technology.
