60 second interview: Richard L. Margut

NAME: Richard L. Margut

TITLE: regional vice president, Northwest Bancorp Inc.

COMPANY DESCRIPTION: Northwest is the holding company that owns and operates Northwest Savings Bank, a local community bank with 137 offices in 33 counties in Pennsylvania and Ohio. The bank's eastern region includes 20 offices in Dauphin, Lancaster, Lebanon and York counties. The bank plans to open two additional offices in Dauphin and York counties in 2004. As of June 30, Northwest's assets totaled $5.2 billion

PERSONAL: Married to Debra for 31 years; two children, Eric, 27, and Shelby, 25. Previously was a vice president at Steitz Savings and Loan.

DESCRIBE YOUR TYPICAL DAY: My day varies, depending on the bank projects and community activities. I supervise the operational and administrative functions of the eastern region by providing support to branch offices in the areas of reporting, performance and results. My typical day consists of meetings, interviews, staff calls and questions. I am also involved in the local community, which requires me to attend breakfast, lunch and evening meetings.

TRENDS YOU SEE IN YOUR INDUSTRY: I see the continued consolidation of financial institutions in order to take advantage of efficiencies. The low interest rates (mortgage and business loans) are providing the stimulus needed for economic growth.

WHAT IS YOUR BIGGEST CHALLENGE, AND HOW DO YOU MEET IT? Locally, our challenge is to increase our account base. We do that through expanding relationships with our customers and by offering additional products and services.

Copyright Journal Publications Inc. Jan 09, 2004
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