Bank of Italy Building (San Francisco)
| Company type | Building |
|---|---|
| Industry | Banking (historical) |
| Founded | 1908 |
| Headquarters | San Francisco , United States |
| Products | Banking services (historical) |
The Bank of Italy Building, also referred to as the Clay-Montgomery Building, is an eight-story edifice located in San Francisco, California. In 1908, it became the main office for A. P. Giannini's Bank of Italy, which later evolved into Bank of America, following the destruction of the bank’s original Montgomery Avenue location in North Beach caused by the 1906 San Francisco earthquake. This building was recognized as a National Historic Landmark in 1978 due to its connection with Giannini, a trailblazer in the retail banking sector.
History
After the loss of its initial headquarters, the Bank of Italy temporarily conducted operations from two sites: a wharf on Washington Street and the residence of Giannini’s brother on Van Ness Avenue. Shortly thereafter, it leased space on Montgomery Avenue near its former premises.
The building was designed by Frank T. Shea of Shea & Lofquist and is characterized by a granite-clad ground level complemented by terra-cotta clad upper floors that echo similar architectural motifs. Inside, it features white marble surfaces, gold leaf accents, and an elaborately coffered ceiling.
Giannini and the bank’s board acquired property at the intersection of Clay and Montgomery streets for $125,000 to construct a dedicated headquarters. Construction commenced almost a year later, delayed by financial difficulties resulting from post-fire recovery efforts.
Officially opening on August 17, 1908, this structure served as the Bank of Italy’s headquarters until 1921, when operations relocated to a new facility at 1 Powell Street. Subsequently, it became the center for Giannini's Liberty Bank System and eventually transitioned into a Bank of America branch during the 1930s.
On September 4, 2012, Wingtip, a luxury menswear retailer, launched a store on the building’s ground floor that also provides tailoring and barber services within the basement vault.
Preservation
In 1978, the Bank of Italy Building was designated a National Historic Landmark and was also listed on the National Register of Historic Places on June 2 of that year.
The exterior largely retains its original appearance except for replaced doors and an additional entrance. The windows along the south facade were sealed off after construction of the neighboring Scatena Building.
Significant alterations have been made to floors two through eight, with minimal original design elements surviving. The basement has been extensively modified as well; however, the original safe containing 5,000 safe deposit boxes remains intact. The first floor preserves many original features such as plasterwork, marble tables and counters, wainscoting, and lighting fixtures. While original bronze teller cages were replaced with modern protective versions, these were designed to closely resemble their historic counterparts.