Outspokenly Conservative Leader Of D.C. Bank Is Dead at Age 85

George A. Didden Jr., who headed National Capital Bank of Washington for more than 50 years, died of pneumonia at George Washington University Hospital on March 12.

Mr. Didden, 85, was known in Washington for running one of the safest banks in the country and for writing biting political and economic commentary in National Capital's annual reports.

"The thing that most impressed me about him was he was his own man and he made his own decisions," said George A. Didden 3d, the new chairman and chief executive, who is one of four sons who work at the $115 million-asset bank. "He was conservative to the core."

Mr. Didden's conservative philosophy manifested itself in the bank's whopping 19.75% capital level and his refusal to install ATMs - because "customers banked with bankers, and not with buildings and machines," said Mr. Didden 3d.

The elder Mr. Didden was politically conservative, too. In the bank's annual report to shareholders, he lobbed opinions like spears at those who crossed small banks.

In 1982 he skewered Ronald Reagan and Donald Regan, who was Treasury secretary, for backing legislation that favored savings and loans and hurt small banks. "The little that Ronald knows about banking is strictly California style," he wrote, "and Donald, as a product of Merrill Lynch, only understands the New York City big time Wall Street style.

"Perhaps Donald and his cohorts are not as stupid as they seem. What they have done may be a clever way of wiping out more than 1,000 small banks quickly."

Mr. Didden's comments were so well thought of that the bank had requests for copies from people across the country and overseas.

At times Mr. Didden could be gruff and demanding. There was also little question as to who ran the bank.

"He was still president and chairman of the board at the time he passed away," said Richard A. Didden, who is now president and chief administrative officer.

In an interview several years ago, Richard Didden referred to his father as a "benevolent dictator."

"I really do admire him a lot," he said. "He has been my boss since I was 1 year old."

Before he became a banker, George A. Didden Jr. practiced law in Washington for 11 years. He was elected to National Capital's board in 1940 and became president in 1943, when he was 33 years old.

He is survived by five children, 12 grandchildren, two brothers, and a sister.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER