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Bank of America, National Trust and Savings Association (NT&SA) was the primary bank subsidiary of BankAmerica Corp. Amadeo Giannini chose this unusual extension for the bank's name in order to highlight its multiple functions when it converted from a state charter to a national one. The bank was founded as Bank of Italy on October 17, 1904.
Bank of Italy was renamed on November 3, 1930, to Bank of America National Trust and Savings Association, [17] which was the only such designated bank in the United States at that time. Giannini and Monnette headed the resulting company, serving as co-chairs. [18]
National Trust and Savings Association (NT&SA) is a designation used by national banks in the United States to denote their national charter. It is significantly less popular than the standard designation National Association (N.A.). Notably, it was used until 1998 by Bank of America NT&SA, the only major
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Indeed, according to internal Bank of America data, across all income cohorts in July 2023, the median checking and savings account was 54% higher than the average in 2019.
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A $93 million loan was issued by Bank of America National Trust and Savings to 203 North LaSalle Street Partnership. The Partnership's Chicago office building was used as the principal asset in a mortgage set up to secure the loan. The Partnership filed for bankruptcy and bank began the foreclosure process on the piece of property. [1]
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