Banking: A Bold Breed

In a near-empty lot in downtown Hamden, Conn. (pop. 46,000), three 28-year-old entrepreneurs telephoned busily and dispatched letters last week from a modest and makeshift trailer. Their aim: to market a $3,000,000 stock issue that they will use to open a bank. The men, all trained in junior executive positions at the Chase Manhattan Bank (two have left), are typical of a bold new breed who are making new banks bloom all over the U.S. after a 40-year decline in total numbers.

This year more than 300 banks will get started, almost three...

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