The Bank of California, a key financial institution in the West, was founded by William Chapman Ralston on July 5, 1864. As the bank rapidly expanded, it soon outgrew its original location. Renowned architects Walter Danforth Bliss and William Baker Faville were commissioned to design a grand new building on the same site.
In January 1906, the bank relocated temporarily to prepare for the construction of its impressive new headquarters. However, progress was abruptly halted by the earthquake and fire on April 18, 1906. Despite the setback, work resumed just six weeks later. The new Bank of California building, fondly known as "The Grand Old Lady of California Street," officially opened on September 8, 1908. It was the first commercial building in the Financial District to emerge from the devastation of the earthquake.
In 1996, the Bank of California merged with Union Bank, forming Union Bank of California, N.A. On September 8, 2008, the historic building was rededicated on its 100th anniversary by Union Bank of California President and CEO Masakki Tanaka, along with San Francisco Mayor Gavin Newsom. [10]