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Worth his Weight in Gold: Giannini Takes on the Business of Banking
At the age of 32, after making a handsome profit in produce and having stepped back from the business world, Giannini thought he would have more time to devote to his own interests – reading, traveling and the like. But, fate would have other plans. He quickly began receiving offers from other businesses eager to snap him up, but there was one in particular that caught his attention; the Columbus Savings & Loan Association asked Giannini to join their board of directors.
Lesson #1: Think Big About the Little Guy
Growing up in the produce store of his stepfather, Giannini was surrounded by farmers, merchants, and other labourers. He got to know them, their businesses, and their business needs, in what proved to be an experience he would not soon forget. In fact, the lives and stories of these workers would come back to haunt him when he first took the job with the Columbus Savings & Loan Association. For, it was during this time that Giannini began to recognize that there were entire groups of people – workers – who were readily denied access to bank loans and credit.

Lesson #4: Don’t Let Anyone Keep Your Ambitions in Check
When Giannini first came onto the scene, the banking world was a very different one to that which exists today. Most banks were single, stand-alone entities, and had limited capital, which meant that they could only lend out the amount of money they had in reserves. Giannini helped to change all of that by building a large branch network in California, and with a dream of going national, but none of it happened without a fight.

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America’s Blue-Collar Banker: The Early Years of Amadeo Peter “A.P.” Giannini
Home mortgages, auto loans, installment credit – they may be taken for granted today, but before this son of Italian immigrants came along, such things didn’t exist. Amadeo Peter Giannini – A.P. to his friends – revolutionized the banking world by focusing on “the little people.” Giannini passed away in 1949 at the age of 79. By that time, the bank he had founded, the Bank of America, had become the largest bank in the world, with $7 billion in assets and more than 525 branches in over 300 American cities. Today, Giannini stands out as one of TIME Magazine’s Builders and Titans of the 20th century – the only banker to make this list of the century’s most 100 important people.

Worth his Weight in Gold: Giannini Takes on the Business of Banking
At the age of 32, after making a handsome profit in produce and having stepped back from the business world, Giannini thought he would have more time to devote to his own interests – reading, traveling and the like. But, fate would have other plans. He quickly began receiving offers from other businesses eager to snap him up, but there was one in particular that caught his attention; the Columbus Savings & Loan Association asked Giannini to join their board of directors.
Lesson #1: Think Big About the Little Guy
Growing up in the produce store of his stepfather, Giannini was surrounded by farmers, merchants, and other labourers. He got to know them, their businesses, and their business needs, in what proved to be an experience he would not soon forget. In fact, the lives and stories of these workers would come back to haunt him when he first took the job with the Columbus Savings & Loan Association. For, it was during this time that Giannini began to recognize that there were entire groups of people – workers – who were readily denied access to bank loans and credit.

Lesson #2: Keeping Your Connections to Customers is Key
The faith and courage with which Giannini gave out loans became something of a legend all throughout the Pacific coast. He made loans on a handshake to anyone who was interested, and he never turned someone away. His moral integrity attracted streams of clients from all over. But, Giannini wouldn’t look at what he did as risky. After all, he was a people person. He knew not only the names and faces of all of his clients, but also all about their families and their financial situations; these people were a part of his family now.

Lesson #3: Money May Have Much Worth, But It Has Little Value
When Giannini died at the age 79, his total net worth was less than $500,000. That was a lot of money for the time, but nowhere near the amount he could have accumulated had he been money hungry; he wasn’t. “Money itch is a bad thing,” Giannini once said. “I never had that trouble.”

Lesson #4: Don’t Let Anyone Keep Your Ambitions in Check
When Giannini first came onto the scene, the banking world was a very different one to that which exists today. Most banks were single, stand-alone entities, and had limited capital, which meant that they could only lend out the amount of money they had in reserves. Giannini helped to change all of that by building a large branch network in California, and with a dream of going national, but none of it happened without a fight.

Lesson #5: Branch Out To Build Your Base of Success
Though you might not know it since Giannini never liked to toot his own horn, America’s most beloved banker actually had a significant impact on American culture that was far removed from the world of banking. From cinema to architecture to relief efforts overseas, Giannini devoted much of his resources to causes he felt equally passionate about. It was in doing so that he is today remembered as not just a great banker, but a great supporter of entrepreneurship in all its various forms.

Banking on Success: How Giannini Achieved his Greatest Ambitions
He never dreamed of being a banker when he was a child, but today, there is nary a student of retail banking who does not know the incredible story of this determined entrepreneur. A son of poor immigrants, Giannini helped build the first national system of banks for the ordinary person, all the while fueling California’s economic development and inspiring a new generation of entrepreneurs. What were Giannini’s secrets for success?

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A.P. Giannini Quotes
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