Bank of Italy Building
historic place
The Bank of Italy Building, a historic place in Los Angeles County, was completed in 1922 and dedicated in 1923. Located at 649 South Olive Street, it served as the Los Angeles headquarters for the Bank of Italy, a forerunner to Bank of America. Architects Morgan, Walls & Clements designed the building in a Neoclassical style, featuring Doric columns, an ornate golden ceiling, and marble floors. Its bronze front doors are adorned with terra cotta sculptures of American coins. The Bank of Italy, founded by Amadeo Giannini, pioneered banking services for a wider public, including women and children. By 1923, it was the largest bank in the Western United States. The building once contained a massive vault with 12,000 safe-deposit boxes and a 50-ton door. The institution became Bank of America in 1930. Known for years as Giannini Place, it was designated a Los Angeles Historic Cultural Monument in 1988. After a period of vacancy, the building was converted into a hotel, reopening as Hotel Per La in 2022. This site marks a notable chapter in Los Angeles's financial and architectural history.