In Sly we trust
Action legend Sylvester Stallone finds a new role as a New Jersey bank owner
In a working-class neighborhood just outside of Trenton, N. J., a faux Colonial building sits unobtrusively near a plumbing and heating service, a carpet and tile center, and a Big and Tall Mens’ shop. It’s the Yardville National Bank — and, suddenly, a pop-culture curiosity since Sylvester Stallone became a part owner.
Stallone actually bought 70,000 Yardville shares for $1.1 million in 1993 on the advice of a financial adviser in his nearby hometown of Philadelphia. But it wasn’t until this July, when he laid down just over $300,000 for another 23,100 shares — bringing his total stake to more than 5 percent and requiring him to file a public statement with the SEC — that Yardville’s patrons found out Rambo was in charge of the vaults.
Stallone has no comment on his business affairs, but he’ll doubtlessly be happy to hear that he’s inspired customer confidence. ”He’s got high-priced people who tell him where to invest his money,” says Mark Potent, 23, an emergency medical technician. ”It makes me feel secure about banking here.”
But don’t expect a free Tango and Cash video when you open a checking account. And don’t expect to see the otherwise bankable star on the premises. ”He’s not [stopped] in or called,” says Patrick Ryan, Yardville’s president and CEO. ”He does all his work through intermediaries.”