Dividends: Silicon Savings

A time-honored way to start a successful bank is to identify it with a booming local industry, a tactic that has worked for the likes of both the giant Manufacturers Hanover Trust of New York City (deposits: $41 billion) and the little Farmers & Merchants National Bank in Rensselaer, Ind. (deposits: $50 million). Now two California banks that plan to open later this year are using the strategy: Silicon Valley Bank and High Tech National Bank.

"We want to be the banker for the electronics industry," says Roger Smith, Silicon Valley's president. His bank, with headquarters in a San Jose industrial building,...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!