Alvin Rice

1923 - 2019

Alvin C. Rice

Nov 1, 1923 - Nov 9, 2019

Al Rice passed away peacefully at his home in Healdsburg on November 9 at age 96 years and eight days.
Born in Pomona CA, Al grew up on his family's citrus ranch in Whittier, enthusiastically taking on any chores that involved driving a tractor.
He graduated Whittier High School in 1941 and began studies at Stanford University, where he joined the Delta Upsilon fraternity; his fraternity brothers became a core group of lifelong friends.
As with many other students, Al was invited to join the Army Air Corps in 1942. He completed flight training and served his military duty as a pilot and a flight instructor. Honorably discharged with the rank of Captain in 1945, Rice returned to Stanford and earned a BA in Economics in 1947, graduating Cum Laude and a member of Phi Beta Kappa.

After Stanford, Rice and his first wife, the late Joan Elliott, were married in 1948 and he began his career at Bank of America. From humble beginnings in the management training course, his rise was meteoric, culminating in his being Vice-Chairman of the Bank in the 1970's.
Along the way, his duties included Head of the National Division and of International Banking, Senior Credit Officer and Head of the Bank's Europe, Middle East and Africa Division.
His one stint away from the bank was with the Pacific Bridge Company. There, he rose from Treasure to EVP and Chief Operating Officer of the heavy construction firm.
During Rice's tenure at the BofA, it became the largest and most profitable bank in the world; many people would maintain that Rice made many important contributions to those statistics.
Following his twenty-five years at BofA, Rice was associated with Hambrecht & Quist in San Francisco and was engaged in corporate finance activities and the management of offshore funds invested in U.S. commercial real estate.
His subsequent banking activities included serving as President of Imperial Bank in Los Angeles, Chairman and President of American Interstate Bank in Newport Beach and Chairman and President of First National Bank of Marin.
Rice held directorships in publicly held corporations throughout his career. Among them were Bank of America, Memorex, Montreal Trust, Tandem Computer, Fairchild Instrument & Camera, Applied Circuit Technology, Regent International Hotels, Integrated Financial Systems, ROMO Corporation.
He retired from his full-time banking career to Sonoma County twenty- five years ago, but he remained active as an investor in several firms engaged in developing hardware and software designed to automate financial services delivery systems.
Rice was an active participant in his community, serving as a Trustee of the San Francisco MOMA, and on the Major Gifts Committee at Stanford. He was a member of the Bohemian Club, the Pacific Union Club, and he enjoyed countless rounds of golf at San Francisco Golf Club and the La Quinta Country Club.
Rice was an avid reader, and was interested in politics, history and current affairs. With a gracious, gregarious manner and impressive skills as a story-teller he was often the center of social gatherings. He charmed everyone from heads of state and leaders of industry in the world's financial centers to the nursing staff at a small regional hospital in Montana. He will be missed deeply by all who were fortunate to have known him.
Rice is survived by his wife of 35 years, Susan, and his three children: Becky MacGuire (Peter) of Stamford CT, Diana Moore (Bobby) of Tiburon and Ted Rice (Courtney) of San Francisco. He also leaves behind two step daughters, Cristin Cronin of San Francisco and Dana Cronin Ostermiller (Marty) of Paris, France, as well as seven grandchildren, two step-grandchildren and a great-granddaughter (born less than 36 hours after his passing).
The family plans a private gathering to honor Al Rice and the long and interesting life he led. Should friends wish to make a memorial gift is his name, the family suggests Healthcare Foundation Northern Sonoma County: https://healthcarefoundation.net/