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Bank Expansion

January 14, 1998|DON LEE | TIMES STAFF WRITER

Silicon Valley Bank of Santa Clara, which became one of the nation's most profitable banks by focusing on high-tech companies, is preparing to open a loan production office next month in West Los Angeles.

Silicon Valley Bank, with assets of about $2 billion, already has operations in Orange County, specializing in technology and life sciences lending.

Jon Goodman, director of the Annenberg Incubator Project at USC, says the bank's expansion into Los Angeles is noteworthy--a recognition of this region's often-underestimated high-tech prowess.

"More of its customer base is developing here, and they see a major opportunity," she said.

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Don Lee can be reached at don.lee@latimes.com

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