The Bank of Italy bought out the old G.P. Schafer general store in 1927 at the northeast corner of 10th and I street. It soon demolished the old building and erected its own on the same site in 1928. In the early 1980s the Bank of America demolished that same building and built a much more modern one right behind it on the corner of 11th street and I street. Modesto News-Herald October 26 1928 Modesto News-Herald September 1st 1927