The Bryn Mawr Trust Company Completes Acquisition of Deposits, Loans and a
Branch From First Bank of Delaware
BRYN MAWR, Pa., Nov. 19, 2012 (GLOBE NEWSWIRE) -- Bryn Mawr Bank Corporation
(Nasdaq:BMTC) (the "Corporation"), parent of The Bryn Mawr Trust Company (the
"Bank"), today announced that the Bank has completed its previously announced
acquisition of deposits, loans and a branch from the First Bank of Delaware.
The acquisition increased the Bank's loans and deposits by approximately $80
million and $70 million, respectively. Former First Bank of Delaware
customers' accounts were converted to Bryn Mawr Trust's computer systems
effective November 17, 2012. All of Bryn Mawr Trust's eighteen full-service
branches are immediately available for customer transactions.
Ted Peters, Chairman and CEO, commented, "We look forward to welcoming our new
customers and staff members. This acquisition allows us to open our first
full-service branch in Delaware, with a critical mass of loans and deposits on
day one. Customers will enjoy the benefits of a more robust line of products
and services and an expanded branch network.
Over the last few years we have been investing in strategic opportunities in
the state of Delaware, including the formation of The Bryn Mawr Trust Company
of Delaware and the acquisition of Lau Associates LLC. We intend to look for
other quality growth opportunities that will return value to our
This was a cash transaction. For a more complete description of the
transaction please review our filings with the Securities and Exchange
Commission (the "SEC"), which will be available on our website (www.bmtc.com).
FORWARD LOOKING STATEMENTS AND SAFE HARBOR
This press release contains statements which, to the extent that they are not
recitations of historical fact, may constitute forward-looking statements for
purposes of the Securities Act of 1933, as amended, and the Securities
Exchange Act of 1934, as amended. Such forward-looking statements may include
financial and other projections as well as statements regarding the
Corporation's future strategies, plans, objectives, performance, revenues,
growth, profits, operating expenses or the Corporation's underlying
assumptions. Statements preceded by, followed by or that include the words
"may," "would," "should," "could," "will," "likely," "possibly," "expect,"
"anticipate," "intend," "estimate," "target," "potentially," "probably,"
"outlook," "predict," "contemplate," "continue," "plan," "forecast,"
"project," "are optimistic," "are looking," and "believe" or other similar
words and phrases may identify forward-looking statements. Numerous
competitive, economic, regulatory, legal and technological factors, among
others, could cause the Corporation's financial performance to differ
materially from the goals, plans, objectives, intentions and expectations
expressed in such forward-looking statements. The Corporation cautions that
the foregoing factors are not exclusive, and neither such factors nor any such
forward-looking statement takes into account the impact on any future events.
All forward-looking statements and information set forth herein are based on
management's current beliefs and assumptions as of the date hereof and speak
only as of the date they are made. The Corporation does not undertake to
update forward-looking statements whether written or oral, that may be made
from time to time by the Corporation or by or on behalf of its
subsidiaries.For a more complete discussion of the assumptions, risks and
uncertainties related to our business, you are encouraged to review our
filings with the Securities and Exchange Commission, including our most recent
annual report on Form 10-K, as well as any changes in risk factors that we may
identify in our quarterly or other reports filed with the SEC.
CONTACT: Ted Peters, Chairman
Francis J. Leto, EVP
J. Duncan Smith, CFO
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