Definition of A p giannini

Giannini's parents were Italian, from Liguria near Genoa, immigrants to the United States. He attended Heald College in San Francisco, California. Giannini opened the Bank of Italy in a former San Francisco saloon on 17 October, 1904. Deposits on that first day totaled $8,780. An early difficulty to overcome was the San Francisco earthquake of 1906. However, the earthquake actually helped Giannini gain something of a loan monopoly. After the earthquake, he moved the vault's money to his home outside the fire zone in then-rural San Mateo, an 18-mile drive by horse and wagon. The raging fires severely heated the vaults of other big banks which had the money in them. Opening them immediately would ruin the money, so they had to be kept closed for weeks. Because of this, Giannini was one of the few who was able to provide loans at the time. Giannini was forced to run his bank from a plank across two barrels in the street for a time. Giannini made loans on a handshake to anyone who was interested in rebuilding. Years later, he would recount with pride that every single loan was repaid.