David and Goliath

The sign on the trailer at the corner of Metroplex Drive and Plainfield Avenue in Edison reads: "New home of Hometown Bank, Member FDIC." Inside, sits the bank's chairman, president and founder, LeRoy R. Terry, downright amazed over the trailer-bank's growth to $28 million in ass...

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Bibliographic Details
Published inNew Jersey success Vol. 10; no. 4; p. 23
Main Author Courtney, Marian
Format Journal Article
LanguageEnglish
Published Hillside New Jersey Success, Success Publishing Co 01.12.1989
Subjects
Business conditions
Commercial banks
Incorporation
Longarzo, Peter J
Middle Atlantic
Small business
Startups
Terry, LeRoy R
Edison
NJ
US
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Summary:The sign on the trailer at the corner of Metroplex Drive and Plainfield Avenue in Edison reads: "New home of Hometown Bank, Member FDIC." Inside, sits the bank's chairman, president and founder, LeRoy R. Terry, downright amazed over the trailer-bank's growth to $28 million in assets and $23 million in deposits in only eight months. "I can hardly believe we collected all that money in a trailer," Terry says. Inside the trailer, two tellers service customers from behind a wide counter. In an adjoining office, a large ledger contains the names of the bank's first customers. Most of them withdrew their accounts from more established banks and placed their money in an unproven venture because of Hometown's "personal approach" and its special interest rates. (excerpt)
ISSN:0886-9995