Mr. Ritrievi: Mid Penn Bank was founded as the Millersburg Bank in 1868, so it's been around for 141 years. In the 1970s, the name was changed to Mid Penn Bank. The Mid Penn Bancorp holding company was formed in 1991. Today Mid Penn Bank is a 575 million plus true community bank, providing deposit, loan and trust solutions throughout Central Pennsylvania.
TWST: What do you see as the key issues the banking industry faces today, and how are you adapting ?
Mr. Ritrievi: The key issue for the banking industry today is asset quality and, by extension, strength of capital. It is not enough to just have good earnings. The balance sheet and, in particular, the main earning assets have to be well managed and well positioned. In that we, like most community banks, did not participate in any crazy loan schemes such as subprime lending, we really don't have to adapt much. We will always focus on sound principles of credit management. We will lend within our communities to people we know for projects that fundamentally make sense, with all risks assessed and managed.
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