Larry E. Rogers, president of P.I.E. Mutual, elected to board of Security First Corp

Business Wire, July 27, 1995

CLEVELAND--(BUSINESS WIRE)--July 27, 1995--Larry E. Rogers, president and chief executive officer of the P.I.E. Mutual Insurance Company, has been elected to the board of directors of Security First Corp. The election took place at Security First's annual meeting on July 27.

Security First is the holding company for Security Federal Savings & Loan.

Rogers, 56, has spent his entire working career in the insurance industry, beginning in 1960 as a claims representative for Underwriters' Adjusting Company in his hometown of Henderson, Kentucky. Five years later, he joined American States Insurance Company, becoming claims manager for the company in Cleveland in 1972. In 1974, he joined Leusch Insurance Agency as vice president of marketing.

In 1975, Rogers co-founded P.I.E. Mutual with a unique concept in medical professional liability insurance. The company unites the disciplines of insurance, medicine and law to protect its policy holders against malpractice suits. P.I.E. combines liability coverage with legal defense provided by a pre-paid firm dedicated to malpractice defense.

Rogers was named executive vice president and chief operating officer in 1981, then president and CEO in 1988.

A transplanted Clevelander, Rogers is active in civic affairs. He is a trustee of Playhouse Square Foundation and a board member of the Greater Cleveland Growth Association. Professionally, he is a member of the Ohio Independent Insurance Agents' Association, the National Association of Mutual Insurance Agents and the Medical Group Management Association.

Charles F. Valentine, chairman of Security First Corp., said: ``We are pleased to welcome, and feel fortunate to have Larry Rogers on our board. He is a man of great energy and wisdom, as exemplified by his outstanding performance as CEO of P.I.E. Mutual.''

Since Rogers helped found P.I.E. Mutual in 1975, premium income surged from $1.3 million to $200 million. The insurer's investment portfolio now stands at $400 million.

In accepting the directorship, Rogers said: ``I've been a Security First shareholder for several years, and I've been impressed with the company's growth and leadership. I'd like to bring to the table the same enthusiasm that I've dedicated to my other pursuits.''

Rogers and his wife Katherine make their home in Waite Hill. They have a daughter, Julie A. Johnston, and two sons, L. Alan and Russell E. Both sons are employed by P.I.E. Mutual. The Rogerses have eight grandchildren.

Security Federal Savings and Loan was founded in 1916. The company has 10 offices in Northeast Ohio with headquarters in Mayfield Heights. Security First went public in January 1988, and is listed on the NASDAQ National Market System under the symbol ``SFSL.'' As of June 30, 1995, assets were $443 million.

CONTACT: Jerome H. Schmelzer & Associates, Cleveland

Jerry Schmelzer, 216/696-5550