Bank of Italy
Also known as: Clay-Montgomery Building
Why it's listed
Opened on August 17, 1908, this eight-story bank building at Clay and Montgomery Streets in San Francisco served as headquarters of A.P. Giannini's Bank of Italy until 1921. F.T. Shea was the architect, though Giannini closely supervised design and construction. The steel-framed structure has a two-story base, a four-story shaft faced in granite and Bedford limestone, and a two-story crown with Ionic-style pilasters. Original interior features survive in the first-floor banking room, including marble counters, flooring and staircase, plaster ceilings in Renaissance colors, and a large vault. The building matters because Giannini launched his branch banking system from here. In 1909 he and his directors decided in a meeting room to open a San Jose branch, the first step toward the nation's first statewide branch system. The bank later became Bank of America, and the building remains a branch.
Significance in brief: It is the most significant surviving Giannini building because he launched the branch banking system here, which eventually made Bank of America the largest commercial bank in the world. The bank used it as headquarters from 1908 to 1921, and in 1909 Giannini and his directors decided here to open the San Jose branch, the first step toward the first statewide branch banking system in the United States.
Machine-generated summary. This summary was generated by a language model from the official nomination document and has not been reviewed line by line by an editor. It may contain errors. Check the source document before relying on any detail. Source: nomination document (PDF) · National Archives catalog entry. NRHP reference 78000754, listed June 2, 1978. Summary generated October 2026 (model claude-sonnet-5-5, prompt v1.0-2026-10-29, confidence high).
Key facts
| Address | 552 Montgomery St., San Francisco |
|---|---|
| County | San Francisco |
| Listed | June 2, 1978 |
| Reference number | 78000754 |
| Resource type | Building |
| Period of significance | Site: 1908-21; Subject: 1904-49 |
| Architect / builder | F. T. Shea |
| Architectural style | Second Renaissance Revival |
| Areas of significance | Commerce |
| Level of significance | National |
| National Historic Landmark | Yes, designated June 16, 1978 |
| Status (as stated in the nomination) | Still used for banking as a Bank of America branch on the first floor, with upper floors used by the bank's World Banking Division; described as well maintained and in excellent condition. |
| Acreage | 0.9 |
| Coordinates | 37.79455, -122.40293 (NPS GIS) |
What listing means for this property
For an income-producing building, listing (individually or as a contributing building in a district) is the gateway to the 20% federal rehabilitation tax credit on qualified rehabilitation costs, often stackable with state credits. Work claiming the credit must follow the Secretary of the Interior's Standards and be approved in advance.
Listing does not restrict a private owner acting without federal money or permits; where federal funding or licensing is involved, Section 106 review applies.
General information, not legal or tax advice. Rules change; confirm with your State Historic Preservation Office or a qualified adviser.
Sources and further reading
- National Park Service, National Register of Historic Places database (snapshot May 2026), reference 78000754.
- Nomination form (PDF, National Archives) — catalog entry
- Wikipedia article (used for cross-checking only; text not reproduced here)
- Wikidata Q4856135
- This listing as JSON
Last updated October 2026. Found an error? See the editorial policy for how to report it.