Thu11272014

News

VTA plans for  El Camino Real prompt skepticism

VTA plans for El Camino Real prompt skepticism


Ellie Van Houtte/Town Crier
A Valley Transit Authority proposal to convert general-use right lanes on El Camino Real to bus-only use received a chilly reception last week.

A Valley Transit Authority proposal that prioritizes public transit alo...

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Schools

MVHS students attempt Guinness World Record

MVHS students attempt Guinness World Record


Barry Tonge/Special to the Town Crier
Local residents participate in an attempt to break the Guinness World Record for making the most friendship braceletsNov. 9 at Mountain View High.

More than 300 Mountain View High School students gathered around...

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Community

Bigger, better days ahead for Foothill Veterans Resource Center

Bigger, better days ahead for Foothill Veterans Resource Center


Student veterans at Foothill College can seek support, access resources and socialize at the Veterans Resource Center.
Ellie Van Houtte/Town Crier

Carmela Xuereb sees bigger things in store for the Foothill College Veterans Resource Center. One...

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Comment

Serving those who served us: Editorial

“Thank you for your service” often comes across as lip service to our veterans. As always, actions speak louder than words.

The Rotary Club of Los Altos has taken plenty of action, contributing time and money to improve opportunities for veterans th...

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Business

Report: Los Altos homes priciest in U.S.

Report: Los Altos homes priciest in U.S.


ToWn Crier File Photo
The average cost of a four-bedroom, two-bathroom home in Los Altos is 30 times more than the price of a similar home in Cleveland, according to a Coldwell Banker report.

The average cost of one Silicon Valley home can purchase ...

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Books

Children's author signs books at Linden Tree

Children's author signs books at Linden Tree


Author Tiffany Papageorge is scheduled to sign copies of new her book 11 a.m. Dec. 6 at Linden Tree Books, 265 State St., Los Altos.

Papageorge’s “My Yellow Balloon” (Minoan Moon, 2014) is a Mom’s Choice “Gold” winner. In the book, the Los Gat...

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People

RICHARD CAMPBELL WAUGH

RICHARD CAMPBELL WAUGH

Richard Campbell Waugh of Los Altos Hills, Ca. died at home October 31, 2014 surrounded by his family and caregivers.

Dick was born 1917, in Fayetteville, Arkansas. He earned a BS in chemistry from University of Arkansas and a PhD in organic chemi...

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Travel

Weekday Wanderlust highlights the joys of armchair travel

Weekday Wanderlust highlights the joys of armchair travel


Dan Prothero/Special to the Town Crier
Travel writers at the October gathering of the Weekday Wanderlust group include, from left, James Nestor, Kimberley Lovato, Paul Rauber, Marcia DeSanctis and Lavinia Spalding.

Travel writing should either ̶...

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Stepping Out

Pacific Ballet's 'Nutcracker' opens Friday in downtown Mtn. View

The Pacific Ballet Academy is back with its 24th annual production of “The Nutcracker,” scheduled this weekend in downtown Mountain View.

The story follows young Clara as she falls into a dream where her beloved nutcracker becomes the daring prince ...

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Magazine

Christmas At Our House home tour celebrates 26 years

Christmas At Our House home tour celebrates 26 years


Courtesy of Christopher Stark
Homes on the St. Francis High School Women’s Club’s Christmas at Our House Holiday Home Tour showcase a variety of architectural styles.

The days grow short on sunshine but long on nostalgia as the holidays approach...

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Banking on women


Photo by Monique Schoenfeld, Town Crier

Mid-Peninsula's CEO Susan Black makes impact on 'man's world'

Banking has changed in the 14 years that Los Altos resident Susan Black has worked in the field. It's not just about mergers and new technology. Black remembers when most women starting businesses used credit cards for financing because they couldn't get a loan.

Banking is generally still a man's world, said Black, who was named president and chief executive officer of Palo Alto-based Mid-Peninsula Bank in March. The appointment made her the first woman CEO to head a bank in the Silicon Valley. She was formerly an executive vice president at Mid-Peninsula. Black was also named to the bank's board of directors.

Black was one of six founding members of Mid-Peninsula in 1987. With three of her fellow founders, she left Crocker Bank following its 1986 merger with Wells Fargo. Their goal with Mid-Peninsula was "to continue to provide old-fashioned personal service without the dictates of a large bank," she said.

Mid-Peninsula's mission struck a chord with customers and investors. "We had $9 million in capital and $20 million in deposits on the day we opened, and were profitable in the first nine months," Black said.

Today, Mid-Peninsula Bank has more than $400 million in assets and offices in Palo Alto, Redwood City and San Mateo. In a 1996 merger of equals with Cupertino National Bancorp, it formed Greater Bay Bancorp, described by American Banker as "a darling of bank analysts."

"In 1994, we looked at our strategy," Black said. "We were at around $250 million in assets, a size when many banks are acquired. We wanted to be large and strong enough to survive as an independent. Our goal is to be the dominant independent force in the Bay Area."

Black describes Greater Bay's strategy as "super community banking." It allows independent banks to achieve economies of scale by centralizing their support services operations. Member banks retain their own identity. "Decision-making, especially as it relates to customers, is made in the individual banks," she said.

Greater Bay also includes Peninsula Bank of Commerce in Millbrae. It recently announced a merger agreement with Pacific Rim Bancorporation, holding company for Golden Gate Bank in San Francisco.

"Our system expands our legal lending limits," Black said, "so client won't outgrow the lending limits of an individual bank."

"We get constant inquiries from other banks" interested in joining their system, Black said.

Last week Greater Bay (NASDAQ: GBBK) announced net earnings of $6.6 million or 67 cents per share for the six month period ended June 30.

Excluding $1.3 million in costs related to the Pacific Rim merger, net earnings for the period would have been $7.9 million, an increase of 36.6 percent over the same period in 1997. It has total assets of $1.5 billion.

Black calls Mid-Peninsula and Greater Bay Bancorp "truly gender blind." But at banking conventions her husband is often the one taken for a bank president, she said.

Her advice to women: "If you take care of your clients and your employees, I think that advancement will come."

"Banking offers wonderful careers for young people today," Black said. "Careers are not just in high-tech. It's gratifying working with clients, helping them be successful."

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