A high-speed, static random access memory (SRAM) compatible, high availability memory array and method employing synchronous dynamic random access memory (DRAM) in conjunction with a data cache and separate data read and write registers and tag blocks. The inclusion of separate data read and write registers allows the device to effectively operate at a cycle time limited only by the DRAM subarray cycle time. Further, the inclusion of two tag blocks allows one to be accessed with an externally supplied address and the other to be accessed with a write-back address, thus eliminating the requirement for a single tag to execute two read-modify write cycles in one DRAM cycle time.