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INTEGRA ANNOUNCES NEW MORTGAGE COMPANY; JOHN GREGOR NAMED PRESIDENT AND CEO

 INTEGRA ANNOUNCES NEW MORTGAGE COMPANY;
 JOHN GREGOR NAMED PRESIDENT AND CEO
 PITTSBURGH, May 26 /PRNewswire/ -- William F. Roemer, chairman and chief executive officer of Integra Financial Corporation (NASDAQ: ITGR), today announced the formation of Integra Mortgage Company.
 According to Roemer, the intent of the company is to continue and expand the mortgage business conducted by Integra Banks and Landmark Savings Association (AMEX: LSA).
 Pending regulatory approvals for Integra's acquisition of Landmark, Integra Mortgage Company will be in operation in early July.
 Roemer also announced the appointment of John T. Gregor as president and chief executive officer of Integra Mortgage Company. Gregor is presently executive vice president, Integra Bank/South, and former president of First National Bank of Washington, Pa.
 Gregor will be joined at the new mortgage company by Thomas J. Finnegan, who will become executive vice president. Finnegan serves as senior vice president of Landmark Savings.
 These two executives will be responsible for implementing the business plan to integrate the existing residential mortgage operations of both Integra and Landmark.
 According to Robert O. Blomquist, executive vice president, Integra Financial Corporation, "The new Integra Mortgage Company will effectively bring together the talents developed by the mortgage operations at Landmark and Integra." The combined mortgages that will be serviced by the new Integra Mortgage Company will exceed $2.5 billion. Sixty percent of that amount is currently serviced by Landmark and 40 percent by Integra. Blomquist chaired the project team that worked on the integration of the two operations.
 Leonard M. Carroll, president and chief operating officer, Integra Financial Corporation, explained, "Integra Mortgage Company will become the sixth major business unit of the corporation, along with its affiliates Integra Bank/South, Integra Bank/Pittsburgh, Integra Bank/North, Integra Trust Company and Integra Investment Company." Integra Financial Corporation is the third largest bank holding company in western Pennsylvania and is the fifth largest in Pennsylvania.
 Carroll noted that the anticipated growth in the mortgage business will require the commitment and expertise of all the mortgage employees at both companies. As a result, no immediate downsizing is anticipated.
 Integra Mortgage Company will service all of western Pennsylvania through the more than 200 branch offices of the three Integra Banks - Integra Bank/South, Uniontown, Pa.; Integra Bank/Pittsburgh; and Integra Bank/North, Titusville, Pa. The company also will serve the Richmond, Charlottesville and Culpeper areas of Virginia and the State College/Centre County, Harrisburg and Allentown areas of Pennsylvania through Loan Production Offices.
 /delval/
 -0- 5/26/92
 /CONTACT: William S. Eiler of Integra Financial Corporation, 412-644-8073, or at home, 412-921-7620/
 (ITGR LSA) CO: Integra Financial Corporation; Landmark Savings Association;
 Integra Mortgage Company ST: Pennsylvania IN: FIN SU: PER


CD-MP -- PG003 -- 3652 05/26/92 09:52 EDT
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Publication:PR Newswire
Date:May 26, 1992
Words:454
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