If Hall of Fame third baseman Eddie Mathews were playing baseball today, he would probably make enough money to buy Bank of Internet USA, an institution he helped start this year.
But Mr. Mathews, who hit 512 home runs in his 17-year career, retired in 1969 - long before the advent of free agency and multimillion-dollar contracts. He is enjoying a comfortable, if modest, retirement in San Diego, where Bank of Internet USA is headquartered. After meeting Gary L. Evans, the bank's president and chief executive officer, last year, Mr. Mathews decided to join 139 other investors who provided $14 million in start-up capital.
"When I heard about this bank, right away, up poked my ears," the 69-year-old Mr. Mathews said. "I have become very conservative as I've grown older, but my interest in this was instant, because I thought, 'This has got to be the coming thing.' "
Mr. Evans, 51, grew up in Los Angeles, where he saw Mr. Mathews play in the late 1950s and early 1960s. "I was a Dodgers fan, but I had a friend, and Eddie was his absolute favorite player," he said. "I was so thrilled to get to meet him, and he has been one of our most enthusiastic supporters."
Mr. Mathews had been using the Internet for only a few months when he made his investment in Bank of Internet USA. "I have four kids and eight grandchildren, and all they were talking about was the Internet," he said. "I figured that, if I was going to relate to them, I had better figure out what it was."
Mr. Mathews' children and grandchildren live in Milwaukee, where he starred with the Braves from 1954 to 1965. He managed the Atlanta Braves from 1972 to 1974 and was inducted into the Hall of Fame in 1978.
Mr. Evans is hoping to put that fame to good use when Bank of Internet begins promoting itself in Milwaukee, but Mr. Mathews is a reluctant pitchman. "I want to go slow on that, but if my name will help the bank, I'll do some marketing," he said. He added that he would like to set an example for other seniors who may be reluctant to open an Internet bank account. "We want their trust."
Bank of Internet has not begun to advertise, but has added $4 million of assets since opening for business July 4 and has made loans in Maine and Utah, Mr. Evans said.
The CEO said he expects Bank of Internet USA to grow to $250 million of assets within three years.
