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Behind the list with Larry J. Miller

Q: What is the best management advice you’ve heard?

A: An important mentor in my business life was Mr. William Kapp, past president of our company, who recently passed away. Mr. Kapp once told me that trust — among your co-workers, clients, shareholders and regulators — was of the utmost importance in this industry. Bill often said, ‘Promise that which only you can deliver, and always deliver what you promise.’

Q: What is the best management advice you’ve heard?

A: An important mentor in my business life was Mr. William Kapp, past president of our company, who recently passed away. Mr. Kapp once told me that trust — among your co-workers, clients, shareholders and regulators — was of the utmost importance in this industry. Bill often said, ‘Promise that which only you can deliver, and always deliver what you promise.’

Q: What are the biggest trends you see in the financial-services industry?

A: The number of recent, local mergers. CommunityBanks merging with Susquehanna Bancshares, Mercantile Bank merging with PNC and other mergers create opportunities for a locally owned and managed company such as ours to garner new customers and expand existing relationships. Lower net-interest margins continue to depress net income for financial institutions. Therefore, institutions must impose service fees or introduce new products to boost earnings.

Q: What trend do you expect will most affect your business soon?

A: The continued decline in the housing market. Home prices are stagnating, and there will not be the opportunity to stimulate the economy through an injection of monies from the equity in owner-occupied properties.

Q: What legislative changes do you want?

A: Recognition that the financial-services industry cannot continue to act as an informational gatekeeper. No other industry has the burden of reporting and monitoring activities of citizens at the level required of our industry. And level the playing field. If an institution accepts deposits and makes loans throughout the community, it should pay its fair share of taxes to support that community.

—Dennis Reardon

About Larry J. Miller

Larry J. Miller is president, chief executive officer and vice chairman of Codorus Valley Bancorp Inc. and PeoplesBank. York Township-based Codorus Valley is the holding company for PeoplesBank, a financial-services firm. Codorus Valley is publicly held. PeoplesBank’s origins date back to 1864.

Miller, 56, grew up on a farm in Maryland’s Baltimore County. When he was young, his mom made him take a speed-reading class and a typing class so he could get a desk job and not have to work on a farm all his life.

He attended York College from 1969 to 1970, then dropped out after he pulled a 44 draft number and thought he’d be drafted. When he wasn’t, he became a management trainee at Peoples Bank of Glen Rock (now PeoplesBank) in 1971. He became the bank’s CEO in 1980 at age 29. He added the title president the next year and vice chairman in 2004.

Miller and his wife, Sally, have a 31-year-old daughter, Michelle, and a 28-year-old son, Timothy. Miller shoots sporting clays as a hobby.

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