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Building History

The San Francisco-based Bank of Italy (later known as the Bank of America) opened its doors with a capitalization of $285,000 in 1904. By the end of 1914, assets had grown to $18,000,000. The Bank of Italy opened its first main office in Los Angeles, CA, in 05/1913, at 5th Street and Hill Street. It had outgrown this bank in two years; on 05/09/1915, an estimated 10,000 visitors toured the bank's new LA headquarters on the ground floor and basement of the Haas Building, at 7th Street and Broadway. In 1915, the bank had this main facility and two branches, one called the Plaza Branch at 220 North Spring Street and another at the intersection of Pico Street and El Molino Street.

Building Notes

According to the Los Angeles Times of 05/09/1915, "The bank occupies the ground floor and basement of the Haas Building and has a main floor area of 50 by 75 feet, with frontage and entrance on Broadway. The safe deposit department is in the basement." (See "Bank of Italy in New Home," Los Angeles Times, 05/09/1915, p. VI.) The Haas Building opened in 1914.

PCAD id: 14111