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Bryn Mawr Bank Corporation Posts Record Second Quarter Earnings of $8.1 Million, Increases Dividend by 5.3% to $0.20, Reports Strong Loan Growth, Wealth Assets Reach Record High of $8.5 Billion

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BRYN MAWR, Pa., July 23, 2015 (GLOBE NEWSWIRE) -- Bryn Mawr Bank Corporation (NASDAQ: BMTC) (the "Corporation"), parent of The Bryn Mawr Trust Company (the "Bank"), today reported net income of $8.1 million and diluted earnings per share of $0.45 for the three months ended June 30, 2015, as compared to net income of $7.6 million and diluted earnings per share of $0.55 for the same period in 2014.

On a non-GAAP basis, core net income, which excludes due diligence and merger-related expenses and net gain on sale of available for sale investment securities, was $9.0 million, or $0.50 per diluted share, for the second quarter of 2015 as compared to $7.8 million, or $0.56 per diluted share, for the same period in 2014. Management believes these non-GAAP measures are important in evaluating the Corporation's performance. A reconciliation of the non-GAAP to GAAP performance measures is included in the schedules accompanying this earnings release.

In addition to the fluctuations in securities gains and due diligence and merger-related expenses, the provision for loan and lease losses (the "Provision") increased by $950 thousand for the three months ended June 30, 2015 as compared to the same period in 2014. On a tax-effected basis, this increase in Provision accounts for a $0.03 decrease in diluted earnings per share for the second quarter of 2015 as compared to the same period in 2014.

"While we continue to integrate Continental's operations into Bryn Mawr's, we are very pleased with the strong results for the second quarter, as well as the solid loan growth that we experienced during the quarter," commented Frank Leto, President and Chief Executive Officer. Mr. Leto continued, "With an increase in our quarterly core earnings of $1.2 million, year over year, we are beginning to realize the significant contributions that the Continental merger, as well as our recent insurance acquisitions, are making to our bottom line. Once we have completed the Continental systems conversion, scheduled for the fourth quarter of 2015, we will begin to fully realize the anticipated cost savings, as many of the redundant costs will be eliminated."

On July 23, 2015, the Board of Directors of the Corporation declared a quarterly dividend of $0.20 per share, payable September 1, 2015 to shareholders of record as of August 4, 2015.

SIGNIFICANT ITEMS OF NOTE

Results of Operations – 2nd Quarter 2015 Compared to 2nd Quarter 2014

  • Net income of $8.1 million for the three months ended June 30, 2015 increased $515 thousand, or 6.8%, from $7.6 million for the same period in 2014.
     
  • Net interest income for the three months ended June 30, 2015 was $25.1 million, an increase of $5.6 million, or 28.9%, from $19.4 million for the same period in 2014. The increase in net interest income between the periods was largely related to the interest income generated by loans acquired in the January 1, 2015 merger with Continental Bank Holdings, Inc. ("CBHI" and the "Merger"). Average loans for the three months ended June 30, 2015 increased by $517.7 million from the same period in 2014. The increase in interest income resulting from loans acquired in the Merger was partially offset by an increase in interest expense on interest-bearing deposits. Average interest-bearing deposits for the three months ended June 30, 2015 increased by $446.1 million as compared to the same period in 2014, primarily related to the deposits acquired in Merger.
     
  • The tax-equivalent net interest margin of 3.81% for the three months ended June 30, 2015 was a 22 basis point decrease from 4.03% for the same period in 2014. The decrease was largely the result of the 15 basis point decline in tax-equivalent yield on portfolio loans, accompanied by a $517.7 million increase in average portfolio loan balances. In addition, average interest-bearing deposits, which increased by $446.1 million, included a 2 basis point increase in the tax-equivalent rate paid. The decline in yield on portfolio loans was primarily related to the lower yields earned on the loans acquired in the Merger. The contribution of fair value mark accretion to the tax equivalent net interest margin accounted for 23 basis points of the margin for the second quarter of 2015 as compared to 20 basis points for the same period in 2014.
     
  • Non-interest income for the three months ended June 30, 2015 increased $1.4 million as compared to the same period in 2014. Contributing to this increase was an increase of $660 thousand in insurance revenues, as the Bank experienced a continued increase in fees and commissions resulting from the October 2014 acquisition of Powers Craft Parker and Beard, Inc. and the April 2015 acquisition of the Robert J. McAllister Agency. These two acquisitions continue to enhance this source of non-interest income. In addition, gain on sale of residential mortgage loans increased by $241 thousand, or 44.9%, for the three months ended June 30, 2015 as compared to the same period in 2014. Residential mortgage loans originated for resale during the second quarter of 2015 totaled $63.3 million, representing a 59.9% increase from the $39.6 million originated in the same period in 2014. Revenue from the Wealth Management Division totaled $9.6 million for the second quarter of 2015 as compared to $9.5 million for the same period in 2014.
     
  • Non-interest expense for the three months ended June 30, 2015 increased $5.4 million, to $26.0 million, as compared to $20.6 million for the same period in 2014. Increases of $1.4 million, $809 thousand and $1.1 million, in salary and wages, employee benefits and occupancy expenses, respectively, much of which was related to the addition of the Continental staff and offices, contributed to the increase. In addition, due diligence and merger-related costs increased by $917 thousand from the second quarter of 2014, largely due to the Merger and the ongoing integration efforts. Due diligence and merger-related expenses include consultant costs, investment banker fees, contract breakage fees, retention bonuses for severed employees, as well as salary and wages for redundant staffing involved in the integration of the two institutions.
     
  • Nonperforming loans and leases of $9.0 million as of June 30, 2015 were 0.42% of total portfolio loans and leases, as compared to $8.4 million, or 0.52% of total portfolio loans and leases as of June 30, 2014. For the three months ended June 30, 2015, the Corporation recorded net loan and lease charge-offs of $187 thousand, as compared to $200 thousand for the same period in 2014. The Provision for the three months ended June 30, 2015 was $850 thousand as compared to a $100 thousand release from the allowance for loan and lease losses (the "Allowance") for the same period in 2014. Directly correlated with the increase in the Provision was the $64.7 million increase in portfolio loans during the second quarter of 2015.

Results of Operations – 2nd Quarter 2015 Compared to 1st Quarter 2015

  • Net income of $8.1 million for the three months ended June 30, 2015 increased $625 thousand, or 8.3%, from $7.5 million for the three months ended March 31, 2015.
     
  • Net interest income for the three months ended June 30, 2015 was $25.1 million, an increase of $275 thousand from $24.8 million for the three months ended March 31, 2015. The increase in net interest income between the periods was related to a $404 thousand increase in interest on loans, partially offset by a $174 thousand decrease in interest on investment securities. Average investment securities available for sale decreased by $23.2 million for the second quarter of 2015 as compared to the first quarter of 2015.
     
  • The tax-equivalent net interest margin of 3.81% for the three months ended June 30, 2015 increased 2 basis points from 3.79% in the first quarter of 2015. The contribution of fair value mark accretion to the tax equivalent net interest margin accounted for 23 basis points of the margin for the second quarter of 2015 as compared to 22 basis points for the first quarter of 2015.
     
  • Non-interest income for the three months ended June 30, 2015 decreased $588 thousand from the first quarter of 2015. This decrease was primarily related to an $807 thousand decrease in gain on sale of available for sale investment securities and a $316 thousand decrease in dividends on bank stocks. These decreases were partially offset by a $495 thousand increase in wealth management revenue between the periods.
     
  • Non-interest expense for the three months ended June 30, 2015 decreased $1.4 million, to $26.0 million, as compared to $27.4 million for the first quarter of 2015. Largely accounting for the decrease was a $1.2 million decrease in due diligence and merger-related costs.
     
  • For the three months ended June 30, 2015, the Corporation recorded net loan and lease charge-offs of $187 thousand, as compared to $859 thousand for the first quarter of 2015. The Provision for the three months ended June 30, 2015 was $850 thousand as compared to $569 thousand for the first quarter of 2015. The primary driver for the Provision increase was the $64.7 million, or 3.1%, increase in portfolio loan balances between March 31, 2015 and June 30, 2015.

Financial Condition – June 30, 2015 Compared to December 31, 2014

  • Total portfolio loans and leases of $2.15 billion as of June 30, 2015 increased by $501.0 million from December 31, 2014. In addition to the $424.2 million of portfolio loans acquired in the Merger, strong organic loan growth of $64.7 million during the second quarter of 2015 occurred as the Bank's expanded footprint and new team of lenders were able to develop many new lending relationships.
     
  • The Allowance, as of June 30, 2015, was $15.0 million, or 0.69% of portfolio loans as compared to $14.6 million, or 0.88% of portfolio loans and leases, as of December 31, 2014. The decrease in Allowance as a percentage of portfolio loans and leases was primarily the result of the increase in the balance of portfolio loans from the Merger. Loans acquired in the Merger were marked to their fair value at acquisition, and, as such, no additional Allowance was recorded for the acquired loan portfolio. In order to take this into account when evaluating the adequacy of the Allowance, in addition to other factors, management considers two additional non-GAAP measures: the Allowance as a percentage of originated loans and leases, which was 0.88% as of June 30, 2015 as compared to 0.94% as of December 31, 2014, and the Allowance plus the remaining loan mark, as a percentage of gross loans, which was 1.60% as of June 30, 2015, as compared to 1.27% as of December 31, 2014.
     
  • Available for sale investment securities as of June 30, 2015 were $349.5 million, an increase of $119.9 million from December 31, 2014. As a result of the Merger, the Corporation acquired $181.8 million of available for sale investment securities. During the first quarter of 2015, the Corporation sold $63.2 million of these acquired available for sale investment securities in order to shorten the overall duration of the investment portfolio. Proceeds from the sale of available for sale investment securities along with excess cash were used to pay down $94.5 million of short-term FHLB advances assumed from CBHI which matured shortly after the Merger was completed, as well as to prepay $19.5 million of long-term FHLB advances which had also been assumed in the Merger.
     
  • Total assets as of June 30, 2015 were $2.95 billion, an increase of $703.5 million from December 31, 2014. The Continental merger accounted for an initial increase in total assets of $742.6 million. Taking into account the assets acquired in the Merger, portfolio loans and leases increased by $76.8 million, available for sale investment securities decreased by $61.9 million, and FHLB stock decreased by $5.0 million.
     
  • Wealth assets under management, administration, supervision and brokerage totaled $8.54 billion as of June 30, 2015, an increase of $836.1 million from December 31, 2014.
     
  • Deposits of $2.26 billion as of June 30, 2015, increased $572.6 million from December 31, 2014. The Merger accounted for an initial increase of $481.7 million of deposits, which included $93.9 million of non-interest-bearing deposits. In addition, an increase of $95.6 million and a decrease of $4.7 million in non-interest-bearing deposits and interest-bearing deposits, respectively, were recorded between the dates. As of June 30, 2015, non-interest-bearing deposits comprised 28.2% of total deposits as compared to 26.5% as of December 31, 2014.
     
  • The capital ratios for the Bank and the Corporation, as shown in the attached tables, indicate levels well above the regulatory minimum to be considered "well capitalized." All of the Bank's and the Corporation's capital ratios have increased from the levels present at December 31, 2014, largely as a result of the stock issued in the CBHI merger and increases in retained earnings.

Other Items of Note

  • For the three months ended June 30, 2015, the Corporation repurchased 88,800 shares of common stock under its February 2006 stock buyback program at an average purchase price of $29.58 per share. The repurchase was made in order to offset share issuances in connection with the Corporation's various stock-based compensation awards, which totaled 98,473 shares during the second quarter of 2015.  

EARNINGS CONFERENCE CALL

The Corporation will hold an earnings conference call at 8:30 a.m. EDT on Friday, July 24, 2015.  Interested parties may participate by dialing (toll-free) 1-877-504-8812 (international (toll) 1-412-902-6656).  A recorded replay of the conference call will be available one hour after the conclusion of the call and will remain available through August 7, 2015.  The recorded replay may be accessed by dialing (toll-free) 1-877-344-7529 (international (toll) 1-412-317-0088) and the conference number is 10067729.

The conference call will be simultaneously broadcast live over the Internet through a webcast on the investor relations portion of the Bryn Mawr Bank Corporation's website. To access the call, please visit the website at http://services.choruscall.com/links/bmtc150724.html.   An online archive of the webcast will be available within one hour of the conclusion of the call.  The Corporation has also recently expanded its Investor Relations website to include added resources and information for shareholders and interested investors.  Interested parties are encouraged to utilize the expanded resources of the site for more information on Bryn Mawr Bank Corporation.

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 plans, objectives, performance, revenues, growth, profits, operating expenses or the Corporation's underlying assumptions. 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," "are looking forward" and "believe" or other similar words and phrases may identify forward-looking statements. Persons reading this press release are cautioned that such statements are only predictions, and that the Corporation's actual future results or performance may be materially different.

Such forward-looking statements involve known and unknown risks and uncertainties.   A number of factors, many of which are beyond the Corporation's control, could cause our actual results, events or developments, or industry results, to be materially different from any future results, events or developments expressed, implied or anticipated by such forward-looking statements, and so our business and financial condition and results of operations could be materially and adversely affected. Such factors include, among others, that the integration of CBHI's business with the Corporation may take longer than anticipated or be more costly to complete and that the anticipated benefits, including any anticipated cost savings or strategic gains may be significantly harder to achieve or take longer than anticipated or may not be achieved, our need for capital, our ability to control operating costs and expenses, and to manage loan and lease delinquency rates; the credit risks of lending activities and overall quality of the composition of our loan, lease and securities portfolio; the impact of economic conditions, consumer and business spending habits, and real estate market conditions on our business and in our market area; changes in the levels of general interest rates, deposit interest rates, or net interest margin and funding sources; changes in banking regulations and policies and the possibility that any banking agency approvals we might require for certain activities will not be obtained in a timely manner or at all or will be conditioned in a manner that would impair our ability to implement our business plans; changes in accounting policies and practices; the inability of key third-party providers to perform their obligations to us; our ability to attract and retain key personnel; competition in our marketplace; war or terrorist activities; material differences in the actual financial results, cost savings and revenue enhancements associated with our acquisitions; and other factors as described in our securities filings.  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.

For a 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 updated by our quarterly or other reports subsequently filed with the SEC. 

Bryn Mawr Bank Corporation    
Consolidated Statements of Income - (unaudited)    
(dollars in thousands, except per share data)    
          
 For The Three Months Ended    
 June 30,March 31,December 31,September 30,June 30,    
  2015  2015   2014   2014    2014       
          
Interest and fees on loans and leases$  25,568 $  25,164 $   19,913  $  19,710 $    19,876       
Interest on cash and cash equivalents   124    115     66     46      44       
Interest on investment securities:         
Taxable   1,161    1,320     891     863      891       
Non-taxable   106    135     95     100      101       
Dividends   34    20     90     30      29       
Total interest income   26,993    26,754     21,055     20,749      20,941       
          
Savings, NOW and market rate deposits   575    594     422     430      420       
Wholesale deposits   195    188     190     175      147       
Time deposits   292    246     143     137      146       
Interest on deposits   1,062    1,028     755     742      713       
Interest on short-term borrowings   10    21     4     4      5       
Interest on FHLB advances and other borrowings   851    910     809     827      781       
Total interest expense   1,923    1,959     1,568     1,573      1,499       
          
Net interest income   25,070    24,795     19,487     19,176      19,442       
Provision for loan and lease losses   850    569     (316)    550      (100 )     
Net interest income after         
provision for loan and lease losses   24,220    24,226     19,803     18,626      19,542       
          
Fees for wealth management services   9,600    9,105     9,263     9,099      9,499       
Service charges on deposits   752    712     658     663      656       
Loan servicing and other fees   597    591     450     431      428       
Net gain on sale of residential mortgage loans   778    808     471     440      537       
Net gain on sale of investment securities available for sale   3    810     390     -      85       
Net gain (loss) on sale of other real estate owned   75    15     4     (49)     220       
Dividends on bank stocks   299    615     211     126      198       
Insurance revenue   817    1,021     795     164      157       
Other operating income   1,256    1,088     641     669      977       
Non-interest income   14,177    14,765     12,883     11,543      12,757       
          
Salaries and wages   11,064    10,870     9,869     9,110      9,694       
Employee benefits   2,618    2,729     1,900     1,652      1,809       
Occupancy and bank premises   2,808    2,466     1,808     1,881      1,683       
Furniture, fixtures and equipment   1,488    1,512     1,358     1,078      1,089       
Advertising   479    557     400     310      455       
Amortization of intangible assets   955    982     753     633      636       
Due diligence and merger-related expenses   1,294    2,501     957     775      377       
Professional fees   827    673     809     701      914       
Pennsylvania bank shares tax   433    433     64     412      412       
Information technology   814    702     747     678      697       
Other operating expenses   3,202    4,004     3,267     2,731      2,860       
Non-interest expense   25,982    27,429     21,932     19,961      20,626       
          
Income before income taxes   12,415    11,562     10,754     10,208      11,673       
Income tax expense   4,296    4,068     3,710     3,702      4,069       
Net income$  8,119 $  7,494 $   7,044  $  6,506 $    7,604       
          
Per share data:         
Weighted average shares outstanding   17,713,794    17,545,802     13,646,098     13,600,348      13,531,155       
Dilutive common shares   340,869    357,456     296,682     272,516      304,998       
Adjusted weighted average diluted shares   18,054,663    17,903,258     13,942,780     13,872,864      13,836,153       
          
Basic earnings per common share$0.46 $0.43 $ 0.52  $0.48 $  0.56       
          
Diluted earnings per common share$0.45 $0.42 $ 0.51  $0.47 $  0.55       
          
Dividend declared per share$0.19 $0.19 $ 0.19  $0.19 $  0.18       
          
Effective tax rate 34.6% 35.2%  34.5 % 36.3%   34.9      
          
Supplemental Non-GAAP Performance Measures* (Includes Reconciliation of Non-GAAP to GAAP Performance Measures)     
Net income (a GAAP measure)$  8,119 $  7,494 $   7,044  $  6,506 $    7,604       
less: tax-effected net gain on sale of available for sale investments   (2)   (527)    (254    -      (55)      
add: tax-effected** due diligence and merger-related expenses   841    1,626     622     504      245       
Net income excluding tax-effected** due diligence and merger-related expenses and net gain on sale of available for sale investment securities (a non-GAAP measure)$  8,958 $  8,593 $   7,413  $  7,010 $    7,794       
Basic earnings per common share excluding tax-effected** due diligence and merger-related expenses and security gains (a non-GAAP measure)$  0.51 $  0.49 $   0.54  $  0.52 $    0.58       
Diluted earnings per common share excluding tax-effected** due diligence and merger-related expenses and security gains (a non-GAAP measure)$  0.50 $  0.48 $   0.53  $  0.51 $    0.56       
          
*The Corporation believes the presentation of the above non-GAAP financial measure provides useful supplemental information that is essential to an investor's proper understanding of the results of operations of the Corporation. Management uses this non-GAAP financial measure in its analysis of the Corporation's performance. This non-GAAP disclosure should not be viewed as a substitute for the financial measure determined in accordance with GAAP, nor is it necessarily comparable to a non-GAAP performance measure that may be presented by other companies    
** assumed nominal tax rate of 35%    
          

 

Bryn Mawr Bank Corporation        
Consolidated Statements of Income - (unaudited)        
(dollars in thousands, except per share data)        
           
 For The Six Months Ended June 30,        
  2015  2014         
           
Interest and fees on loans and leases$  50,732 $  38,918         
Interest on cash and cash equivalents 239  81         
Interest on investment securities:          
Taxable 2,481  1,842         
Non-taxable 241  204         
Dividends   54    57         
Total interest income  53,747 $  41,102         
           
Savings, NOW and market rate deposits 1,169  825         
Wholesale deposits 383  316         
Time deposits   538    261         
Interest on deposits 2,090    1,402         
Interest on short-term borrowings 31    8         
Interest on FHLB advances and other borrowings   1,761    1,527         
Total interest expense   3,882    2,937         
           
Net interest income   49,865    38,165         
Provision for loan and lease losses   1,419    650         
Net interest income after          
provision for loan and lease losses   48,446    37,515         
           
Fees for wealth management services   18,705    18,412         
Service charges on deposits   1,464    1,257         
Loan servicing and other fees   1,188    874         
Net gain on sale of residential mortgage loans   1,586    861         
Net gain on sale of investment securities available for sale   813    81         
Net gain on sale of other real estate owned   90    220         
Dividends on bank stocks   914    278         
Insurance revenue   1,838    234         
Other operating income   2,344    1,679         
Non-interest income   28,942    23,896         
           
Salaries and wages   21,934    18,134         
Employee benefits   5,347    3,788         
Occupancy and bank premises   5,274    3,616         
Furniture fixtures and equipment   3,000    2,072         
Advertising   1,036    794         
Amortization of intangible assets   1,937    1,273         
Due diligence and merger-related expenses   3,795    641         
Professional fees   1,500    1,507         
Pennsylvania bank shares tax   866    780         
Information technology   1,516    1,346         
Other operating expenses   7,206    5,574         
Non-interest expense   53,411    39,525         
           
Income before income taxes   23,977    21,886         
Income tax expense   8,364    7,593         
Net income$  15,613 $  14,293         
           
Per share data:          
Weighted average shares outstanding   17,630,263    13,508,311         
Dilutive common shares   349,163    304,913         
Adjusted weighted average shares   17,979,426    13,813,224         
           
Basic earnings per common share$0.89 $1.06         
           
Diluted earnings per common share$0.87 $1.03         
           
Dividend declared per share$0.38 $0.36         
           
Effective tax rate 34.9% 34.7%        
           
Supplemental Non-GAAP Performance Measures* (Includes Reconciliation of Non-GAAP to GAAP Performance Measures)        
Net income (a GAAP measure)$  15,613 $  14,293         
less: tax-effected net gain on sale of available for sale investments   (529)   (53)        
add: tax-effected** due diligence and merger-related expenses   2,467    417         
Net income excluding tax-effected** due diligence and merger-related expenses and net gain on sale of available for sale investment securities (a non-GAAP measure)$  17,550 $  14,657         
Basic earnings per common share excluding tax-effected** due diligence and merger-related expenses (a non-GAAP measure)$  1.00 $  1.09         
Diluted earnings per common share excluding tax-effected** due diligence and merger-related expenses (a non-GAAP measure)$  0.98 $  1.06         
           
*The Corporation believes the presentation of the above non-GAAP financial measure provides useful supplemental information that is essential to an investor's proper understanding of the results of operations of the Corporation. Management uses this non-GAAP financial measure in its analysis of the Corporation's performance. This non-GAAP disclosure should not be viewed as a substitute for the financial measure determined in accordance with GAAP, nor is it necessarily comparable to a non-GAAP performance measure that may be presented by other companies        
** assumed nominal tax rate of 35%        
           

 

Bryn Mawr Bank Corporation  
Consolidated Balance Sheets - (unaudited)  
(dollars in thousands)  
        
 June 30,March 31,December 31,September 30,June 30,  
  2015  2015  2014  2014  2014   
Assets       
        
Interest-bearing deposits with banks$  156,282 $  244,248 $  202,552 $  56,253 $  85,946   
Investment securities - available for sale   349,496    334,746    229,577    265,939    266,402   
Investment securities - trading   4,029    4,035    3,896    3,803    3,597   
Loans held for sale   15,363    6,656    3,882    1,375    1,631   
Portfolio loans:       
Consumer   25,123    20,204    18,480    16,810    18,907   
Commercial & industrial   472,702    457,432    335,645    342,524    334,474   
Commercial mortgages   924,161    892,675    689,528    683,558    666,924   
Construction   88,122    81,408    66,267    59,923    55,051   
Residential mortgages   381,323    379,363    313,442    314,127    310,491   
Home equity lines & loans   211,982    209,037    182,082    183,314    185,593   
Leases   49,850    48,412    46,813    44,982    44,102   
Total portfolio loans and leases   2,153,263    2,088,531    1,652,257    1,645,238    1,615,542   
        
Earning assets   2,678,433    2,678,216    2,092,164    1,972,608    1,973,118   
        
Cash and due from banks   20,258    17,269    16,717    11,312    17,018   
Allowance for loan and lease losses   (14,959)   (14,296)   (14,586)   (15,599)   (15,470)  
Premises and equipment   43,164    42,888    33,748    32,733    32,679   
Accrued interest receivable   7,518    7,465    5,560    5,661    5,526   
Mortgage servicing rights   4,970    4,815    4,765    4,796    4,760   
Goodwill   104,322    101,619    35,502    32,843    32,843   
Other intangible assets   26,309    26,522    22,998    17,459    18,092   
Bank owned life insurance   32,941    32,772    20,535    20,451    20,375   
FHLB stock   11,542    11,541    11,523    12,889    12,775   
Deferred income taxes   11,066    12,057    7,011    5,786    5,984   
Other investments   9,295    9,238    5,226    4,592    4,507   
Other assets   15,155    13,073    5,343    18,351    19,018   
        
Total assets$  2,950,014 $  2,943,179 $  2,246,506 $  2,123,882 $  2,131,225   
        
Liabilities and shareholders' equity       
        
Interest-bearing deposits:       
Interest-bearing checking$  328,606 $  349,582 $  277,228 $  256,890 $  263,247   
Money market   699,263    717,441    566,354    550,238    559,070   
Savings   189,120    184,819    138,992    142,364    145,312   
Wholesale non-maturity deposits   65,365    69,555    66,693    41,290    41,840   
Wholesale time deposits   67,894    73,476    73,458    60,171    50,152   
Retail time deposits   274,008    263,996    118,400    121,158    123,572   
Total interest-bearing deposits   1,624,256    1,658,869    1,241,125    1,172,111    1,183,193   
        
Non-interest-bearing deposits   636,390    582,495    446,903    438,221    436,739   
Total deposits   2,260,646    2,241,364    1,688,028    1,610,332    1,619,932   
        
Long-term FHLB advances and other borrowings   244,923    250,088    260,146    230,574    233,132   
Short-term borrowings   26,406    38,372    23,824    13,980    13,320   
Other liabilities   36,941    35,452    29,034    21,387    21,470   
Shareholders' equity   381,098    377,903    245,474    247,609    243,371   
        
Total liabilities and shareholders' equity$  2,950,014 $  2,943,179 $  2,246,506 $  2,123,882 $  2,131,225   
        
Bryn Mawr Bank Corporation  
Consolidated Quarterly Average Balance Sheets - (unaudited)  
(dollars in thousands)  
 For The Three Months Ended   
 June 30,March 31,December 31,September 30,June 30,  
  2015  2015  2014  2014  2014   
Assets       
        
Interest-bearing deposits with banks$  182,099 $  206,694 $  115,276 $  78,324 $  70,775   
Investment securities - available for sale   347,046    370,293    252,422    265,491    271,830   
Investment securities - trading   4,034    3,897    3,804    3,599    3,518   
Loans held for sale   6,735    3,470    982    1,116    1,280   
Portfolio loans and leases   2,111,371    2,079,412    1,654,239    1,629,102    1,599,104   
Earning assets   2,651,285    2,663,766    2,026,723    1,977,632    1,946,507   
        
Cash and due from banks   16,222    19,092    13,795    12,739    12,067   
Allowance for loan and lease losses   (14,346)   (14,866)   (15,837)   (15,672)   (16,073)  
Premises and equipment   43,172    44,681    33,290    32,763    32,829   
Goodwill   102,237    98,744    35,539    32,843    32,843   
Other intangible assets   26,879    26,316    23,392    17,821    18,459   
Bank owned life insurance   32,830    32,655    20,478    20,402    20,327   
FHLB stock   11,542    11,928    11,419    12,864    12,663   
Deferred income taxes   11,819    10,449    2,941    5,926    7,119   
Other assets 29,061    25,391    31,102    30,491    29,750   
        
Total assets$  2,910,701 $  2,918,156 $  2,182,842 $  2,127,809 $  2,096,491   
        
Liabilities and shareholders' equity       
        
Interest-bearing deposits:       
Interest-bearing checking$  339,101 $  341,756 $  259,408 $  255,601 $  264,087   
Money market   699,100    724,806    553,708    565,803    556,241   
Savings   186,343    185,848    143,650    143,877    143,418   
Wholesale non-maturity deposits   61,306    66,677    60,197    43,256    42,970   
Wholesale time deposits   69,191    73,443    68,525    54,976    48,791   
Retail time deposits   273,718    267,800    120,855    121,986    127,167   
Total interest-bearing deposits   1,628,759    1,660,330    1,206,343    1,185,499    1,182,674   
        
Non-interest bearing deposits   580,240    534,403    446,252    426,883    416,104   
Total deposits   2,208,999    2,194,733    1,652,595    1,612,382    1,598,778   
        
Long-term FHLB advances and other borrowings   249,678    266,342    237,835    235,091    222,851   
Short-term borrowings   34,980    55,207    19,407    14,074    17,220   
Other liabilities   37,890    30,935    24,070    22,298    19,368   
Shareholders' equity   379,154    370,939    248,935    243,964    238,274   
        
Total liabilities and shareholders' equity$  2,910,701 $  2,918,156 $  2,182,842 $  2,127,809 $  2,096,491   
        

 

Bryn Mawr Bank Corporation 
Consolidated Year-to-Date Average Balance Sheets - (unaudited) 
(dollars in thousands) 
    
 For The Six Months Ended June 30, 
  2015  2014  
Assets   
    
Interest bearing deposits with banks$  194,328 $  67,124  
Investment securities - available for sale   358,605    320,868  
Investment securities - trading   3,966    2,106  
Loans held for sale   5,111    1,729  
Portfolio loans and leases   2,095,481    1,453,555  
Earning assets   2,657,491    1,845,382  
    
Cash and due from banks   17,649    12,946  
Allowance for loan and lease losses   (14,605)   (14,800) 
Premises and equipment   43,922    31,414  
Goodwill   99,969    32,869  
Intangible assets   26,599    20,724  
Bank owned life insurance   32,743    20,041  
FHLB stock   11,763    11,881  
Deferred income taxes   11,669    11,714  
Other assets   27,208    22,329  
    
Total assets$  2,914,408 $  1,994,500  
    
Liabilities and shareholders' equity   
    
Interest-bearing deposits:   
Interest-bearing checking$  340,421 $  257,292  
Money market   711,882    563,914  
Savings   186,096    134,771  
Wholesale non-maturity deposits   63,977    41,564  
Wholesale time deposits   71,305    14,210  
Time deposits   270,775    162,397  
Total interest-bearing deposits   1,644,456    1,174,148  
    
Non-interest-bearing deposits   557,386    400,254  
Total deposits   2,201,842    1,574,402  
    
Long-term FHLB advances and other borrowings   257,963    167,089  
Short-term borrowings   45,038    16,457  
Other liabilities   34,332    24,502  
Shareholders' equity   375,233    212,050  
    
Total liabilities and shareholders' equity$  2,914,408 $  1,994,500  
    

 

Bryn Mawr Bank Corporation  
Quarterly Average Balances and Tax-Equivalent Interest Income and Expense and Tax-Equivalent Yields - (unaudited)  
(dollars in thousands)  
                       
 For The Three Months Ended   
 June 30, 2015
March 31, 2015
December 31, 2014  September 30, 2014
June 30, 2014
  
(dollars in thousands)Average BalanceInterest Income/ ExpenseAverage Rates Earned/ Paid Average BalanceInterest Income/ ExpenseAverage Rates Earned/ Paid Average BalanceInterest Income/ ExpenseAverage Rates Earned/ Paid Average BalanceInterest Income/ ExpenseAverage Rates Earned/ Paid Average BalanceInterest Income/ ExpenseAverage Rates Earned/ Paid   
                       
Assets:                      
Interest-bearing deposits with other banks$  182,099 $  124 0.27%$  206,694 $  115 0.23%$  115,276 $  65 0.22%$  78,324 $  46 0.23%$  70,775 $  44 0.25%  
Investment securities - available for sale:                      
Taxable 310,011  1,184 1.53% 335,208  1,336 1.62% 221,190  973 1.75% 230,457  884 1.52% 235,853  903 1.54%  
Tax-exempt 37,035  157 1.70% 35,085  203 2.35% 31,232  142 1.80% 35,034  149 1.69% 35,977  151 1.68%  
Total investment securities - available for sale 347,046  1,341 1.55% 370,293  1,539 1.69% 252,422  1,115 1.75% 265,491  1,033 1.54% 271,830  1,054 1.56%  
                       
Investment securities  - trading 4,034  11 1.09% 3,897  4 0.42% 3,804  9 0.94% 3,599  9 0.99% 3,518  17 1.94%  
                       
Loans and leases * 2,118,106  25,623 4.85% 2,082,882  25,226 4.91% 1,655,221  19,972 4.79% 1,630,218  19,767 4.81% 1,600,384  19,936 5.00%  
                       
Total interest-earning assets 2,651,285  27,099 4.10% 2,663,766  26,884 4.09% 2,026,723  21,161 4.14% 1,977,632  20,855 4.18% 1,946,507  21,051 4.34%  
                       
Cash and due from banks 16,222     19,092     13,795     12,739     12,067      
Less: allowance for loan and lease losses (14,346)    (14,866)    (15,837)    (15,672)    (16,073)     
Other assets 257,540     250,164     158,161     153,110     153,990      
                       
Total assets$  2,910,701    $  2,918,156    $  2,182,842    $  2,127,809    $  2,096,491      
                       
Liabilities:                      
                       
Interest-bearing deposits:                      
Savings, NOW and market rate deposits$  1,224,544 $  575 0.19%$  1,252,410 $  594 0.19%$  956,766 $  422 0.17%$  965,281 $  430 0.18%$  963,746 $  420 0.17%  
Wholesale deposits 130,497  195 0.60% 140,120  188 0.54% 128,722  190 0.59% 98,232  175 0.71% 91,761  147 0.64%  
Time deposits 273,718  292 0.43% 267,800  246 0.37% 120,855  143 0.47% 121,986  137 0.45% 127,167  146 0.46%  
Total interest-bearing deposits 1,628,759  1,062 0.26% 1,660,330  1,028 0.25% 1,206,343  755 0.25% 1,185,499  742 0.25% 1,182,674  713 0.24%  
                       
Borrowings:                      
Short-term borrowings 34,980  10 0.11% 55,344  21 0.15% 19,407  4 0.08% 14,074  3 0.08% 17,220  5 0.12%  
Long-term FHLB advances and other borrowings 249,678  851 1.37% 266,205  910 1.39% 237,835  809 1.35% 235,091  828 1.40% 222,851  781 1.41%  
Total borrowings 284,658  861 1.21% 321,549  931 1.17% 257,242  813 1.25% 249,165  831 1.32% 240,071  786 1.31%  
                       
Total interest-bearing liabilities 1,913,417  1,923 0.40% 1,981,879  1,959 0.40% 1,463,585  1,568 0.43% 1,434,664  1,573 0.43% 1,422,745  1,499 0.42%  
                       
Noninterest-bearing deposits 580,240     534,403     446,252     426,883     416,104      
Other liabilities 37,890     30,935     24,070     22,298     19,368      
Total noninterest-bearing liabilities 618,130     565,338     470,322     449,181     435,472      
                       
Total liabilities 2,531,547     2,547,217     1,933,907     1,883,845     1,858,217      
                       
Shareholders' equity 379,154     370,939     248,935     243,964     238,274      
                       
Total liabilities and shareholders' equity$  2,910,701    $  2,918,156    $  2,182,842    $  2,127,809    $  2,096,491      
                       
Interest income to earning assets  4.10%  4.09%  4.14%  4.18%  4.34%  
                       
Net interest spread  3.70%  3.69%  3.71%  3.75%  3.92%  
Effect of noninterest-bearing sources  0.11%  0.10%  0.13%  0.12%  0.11%  
                       
Tax-equivalent net interest income/ margin on earning assets $  25,176 3.81% $  24,925 3.79% $  19,593 3.84% $  19,282 3.87% $  19,552 4.03%  
                       
Tax-equivalent adjustment $  106 0.02 % $  130 0.02 % $  106 0.02 % $  106 0.02 % $  110 0.02 %  
                       
Supplemental Information Regarding Accretion of Fair Value Marks                    
Accretion of fair value marks on loans $  1,246    $  1,127    $  513    $  516    $  941     
Accretion of fair value marks on time deposits    205       245       4       6       6     
Accretion of fair value marks on borrowings    65       70       30       30       30     
Net interest income from fair value marks $  1,516    $  1,442    $  547    $  552    $  977     
Effect of fair value mark accretion on tax-equivalent net interest margin  0.23%    0.22%    0.11%    0.11%    0.20%    
* Average loans and leases include portfolio loans and leases, and loans held for sale. Non-accrual loans are also included in the average loan and leases balances.  
                       

 

Bryn Mawr Bank Corporation 
Average Balances and Tax-Equivalent Interest Income and Expense and Tax-Equivalent Yields 
(dollars in thousands) 
          
 For The Six Months Ended June 30, 
 20152014 
 Average BalanceInterest  Income/  ExpenseAverage Rates Earned/ Paid Average BalanceInterest  Income/  ExpenseAverage Rates Earned/ Paid  
          
Assets:         
Interest-bearing deposits with other banks$  194,328    239 0.25%$  69,300    81 0.24% 
Federal funds sold   -     -   -    -     -   -  
Investment securities available for sale:       % 
Taxable   322,421    2,520 1.58%   240,404    1,875 1.57% 
Tax-exempt   36,184    360 2.01%   36,270    304 1.69% 
          
Investment securities - available for sale   358,605    2,880 1.62%   276,674    2,179 1.59% 
          
Investment securities - trading   3,966    15 0.76%   3,478    24 1.39% 
          
Loans and leases *   2,100,592    50,850 4.88%   1,575,165    39,043 5.00% 
          
Total interest earning assets   2,657,491    53,984 4.10%   1,924,617    41,327 4.33% 
          
Cash and due from banks   17,649       12,184     
Less allowance for loan and lease losses   (14,605)      (15,918)    
Other assets   253,873       154,150     
          
Total assets$  2,914,408    $  2,075,033     
          
Liabilities:         
          
Savings, NOW and market rate deposits$  1,238,399 $  1,169 0.19%$  955,186 $  824 0.17% 
Wholesale deposits   135,282    383 0.57%   84,402    262 0.63% 
Time deposits   270,775    538 0.40%   130,850    316 0.49% 
Total interest-bearing deposits   1,644,456    2,090 0.26%   1,170,438    1,402 0.24% 
          
Short-term borrowings   45,038    31 0.14%   15,167    8 0.11% 
Long-term FHLB advances and other borrowings   257,963    1,761 1.38%   217,657    1,527 1.41% 
Total Borrowings   303,001    1,792 1.19%   232,824    1,535 1.33% 
          
Total interest-bearing liabilities   1,947,457    3,882 0.40%   1,403,262    2,937 0.42% 
          
          
Noninterest-bearing deposits   557,386       415,810     
Other liabilities   34,332       20,948     
Total noninterest-bearing liabilities   591,718       436,758     
          
Total liabilities   2,539,175       1,840,020     
          
Shareholders' equity   375,233       235,013     
          
Total liabilities and shareholders' equity$  2,914,408    $  2,075,033     
          
Interest income to earning assets  4.10%  4.33% 
          
Net interest spread  3.70%  3.91% 
Effect of noninterest-bearing sources  0.10%  0.11% 
          
Tax-equivalent net interest income/ margin on earning assets $  50,102 3.80% $  38,390 4.02% 
          
Tax-equivalent adjustment $  237 0.02% $  225 0.02% 
          
Supplemental Information Regarding Accretion of Fair Value Marks       
Accretion of fair value marks on loans $  2,373    $  1,702    
Accretion of fair value marks on time deposits    450       13    
Accretion of fair value marks on borrowings    135       60    
Net interest income from fair value marks $  2,958    $  1,775    
Effect of fair value mark accretion on tax-equivalent net interest margin  0.22%    0.19%   
* Average loans and leases include portfolio loans and leases, and loans held for sale. Non-accrual loans are also included in the average loan and lease balances 

 

Bryn Mawr Bank Corporation 
Consolidated Selected Financial Data - (unaudited) 
(dollars in thousands, except per share data) 
         
  For The Three Months Ended or As Of
   
 June 30,March 31,December 31,September 30,June 30,   
  2015  2015  2014  2014  2014    
Asset Quality Data        
         
Nonaccrual loans and leases$  8,996 $  9,130 $  10,096 $  8,336 $  8,388    
90 days or more past due loans, still accruing   -    -    -    -    -    
Nonperforming loans and leases   8,996    9,130    10,096    8,336    8,388    
Other real estate owned   843    1,532    1,147    894    853    
Total nonperforming assets$  9,839 $  10,662 $  11,243 $  9,230 $  9,241    
         
Troubled debt restructurings included in nonperforming assets$  3,960 $  4,217 $  4,315 $  1,725 $  1,597    
Troubled debt restructurings in compliance with modified terms   4,078    4,145    4,157    6,913    7,487    
Total troubled debt restructurings$  8,038 $  8,362 $  8,472 $  8,638 $  9,084    
         
         
Nonperforming loans and leases / portfolio loans & leases 0.42% 0.44% 0.61% 0.51% 0.52%   
Nonperforming assets / total assets 0.33% 0.36% 0.50% 0.43% 0.43%   
Net loan and lease charge-offs / average loans and leases (annualized) 0.04% 0.16% 0.17% 0.10% 0.05%   
         
Delinquency rate* - Performing and nonperforming loans and leases 30 days or more past due 0.58% 0.51% 0.50% 0.48% 0.64%   
Performing loans and leases - 30-89 days past due$  5,233 $  3,361 $  2,232 $  1,739 $  3,743    
Delinquency rate* - Performing loans and leases - 30-89 days past due 0.24% 0.16% 0.13% 0.11% 0.23%   
         
* as a percentage of total loans and leases        
         
Changes in the allowance for loan and lease losses:        
         
Balance, beginning of period$  14,296 $  14,586 $  15,599 $  15,470 $  15,770    
Charge-offs   (312)   (928)   (864)   (493)   (304)   
Recoveries   125    69    167    72    104    
Net charge-offs   (187)   (859)   (697)   (421)   (200)   
Provision for loan and lease losses   850    569    (316)   550    (100)   
Balance, end of period$  14,959 $  14,296 $  14,586 $  15,599 $  15,470    
         
Total Allowance / Total Portfolio loans and leases 0.69% 0.68% 0.88% 0.95% 0.96%   
Allowance on originated loans and leases / Originated loans and leases (a non-GAAP measure) 0.88% 0.90% 0.94% 1.01% 1.01%   
(Total Allowance + Loan mark) / Total Gross portfolio loans and leases (a non-GAAP measure) 1.60% 1.61% 1.27% 1.36% 1.42%   
Total Allowance / nonperforming loans and leases 166.3% 156.6% 144.5% 187.1% 184.4%   
         
Supplemental Loan and Allowance Information Used to Calculate Non-GAAP Measures       
         
Total Allowance$  14,959 $  14,296 $  14,586 $  15,599 $  15,470    
less: Allowance on acquired loans   22    125    86    273    479    
Allowance on originated loans and leases$  14,937 $  14,171 $  14,500 $  15,326 $  14,991    
         
Total Allowance$  14,959 $  14,296 $  14,586 $  15,599 $  15,470    
Loan mark on acquired loans   19,816    19,708    6,422    6,932    7,510    
Total Allowance + Loan mark$  34,775 $  34,004 $  21,008 $  22,531 $  22,980    
Total Portfolio loans and leases$  2,153,263 $  2,088,532 $  1,652,257 $  1,645,238 $  1,615,542    
less: Originated loans and leases   1,692,041    1,571,377    1,535,003    1,516,104    1,479,526    
Net acquired loans$  461,222 $  517,155 $  117,254 $  129,134 $  136,016    
add: Loan mark on acquired loans   19,816    19,708    6,422    6,932    7,510    
Gross acquired loans (excludes loan mark)$  481,038 $  536,863 $  123,676 $  136,066 $  143,526    
Originated loans and leases   1,692,041    1,571,377    1,535,003    1,516,104    1,479,526    
Total Gross portfolio loans and leases$  2,173,079 $  2,108,240 $  1,658,679 $  1,652,170 $  1,623,052    
         
         
  For The Three Months Ended or As Of
   
 June 30,March 31,December 31,September 30,June 30,   
  2015  2015  2014  2014  2014    
Selected ratios (annualized):        
         
Return on average assets 1.12% 1.04% 1.28% 1.21% 1.45%   
Return on average shareholders' equity 8.59% 8.19% 11.23% 10.58% 12.80%   
Return on average tangible equity (2) 13.02% 12.36% 14.71% 13.35% 16.31%   
Tax-equivalent yield on loans and leases 4.85% 4.91% 4.79% 4.81% 5.00%   
Tax-equivalent yield on interest-earning assets 4.10% 4.09% 4.14% 4.18% 4.34%   
Cost of interest-bearing funds 0.40% 0.40% 0.43% 0.43% 0.42%   
Tax-equivalent net interest margin 3.81% 3.79% 3.84% 3.87% 4.03%   
Book value per share$  21.43 $  21.26 $  17.83 $  18.03 $  17.74    
Tangible book value per share$  14.08 $  14.05 $  13.59 $  14.37 $  14.03    
Shares outstanding at end of period   17,786,293    17,777,628    13,769,336    13,730,581    13,719,337    
         
Selected data:        
         
Mortgage loans originated$  63,285 $  35,728 $  29,929 $  29,861 $  39,575    
         
Residential mortgage loans sold - servicing retained$  28,204 $  24,569 $  14,382 $  16,237 $  15,154    
Residential mortgage loans sold - servicing released   9,257    2,644    92    539    -    
Total residential mortgage loans sold$  37,461 $  27,213 $  14,474 $  16,776 $  15,154    
         
Yield on residential mortgage loans sold 2.08% 2.97% 3.25% 2.62% 3.54%   
         
Residential mortgage loans serviced for others$  595,440 $  591,989 $  590,659 $  594,156 $  594,660    
         
         
Total wealth assets under management, administration, supervision and brokerage (1)$  8,536,024 $  7,816,441 $  7,699,908 $  7,580,779 $  7,569,842    
         
(1) Brokerage assets represent assets held at a registered broker dealer under a clearing agreement.       
(2) Average tangible equity equals average shareholders' equity minus average goodwill and average other intangible assets.      
         
         
Selected ratios (annualized): 2015   2014      
         
Return on average assets 1.08%  1.45%     
Return on average shareholders' equity 8.39%  13.59%     
Return on average tangible equity (1) 12.66%  17.97%     
Tax-equivalent yield on loans and leases 4.88%  5.00%     
Tax-equivalent yield on interest-earning assets 4.10%  4.33%     
Cost of interest-bearing liabilities 0.40%  0.42%     
Tax-equivalent net interest margin 3.80%  4.02%     
         
Selected data:        
         
Residential mortgage loans originated$  99,013  $  57,467      
         
Residential mortgage loans sold - servicing retained$  52,773  $  24,240      
Residential mortgage loans sold - servicing released   11,901     152      
Total residential mortgage loans sold$  64,674  $  24,392      
         
(1) Average tangible equity equals average shareholders' equity minus average goodwill and average other intangible assets.      
         
         
         
         
Investment Portfolio - Available for SaleAs of June 30, 2015 As of December 31, 2014 
         
   Net   Net 
 AmortizedFairUnrealized AmortizedFairUnrealized 
SECURITY DESCRIPTIONCostValueGain / (Loss) CostValueGain/ (Loss) 
         
U.S. Treasury securities$  101 $  101 $  -  $  102 $  100 $  (2) 
Obligations of the U.S. Government and agencies   92,943    93,125    182     66,881    66,762    (119) 
State & political subdivisions - tax-free   40,918    40,967    49     28,955    29,045    90  
State & political subdivisions - taxable   350    351    1     -    -    -  
Mortgage-backed securities   159,741    161,283    1,542     79,498    81,382    1,884  
Collateralized mortgage obligations   35,871    36,094    223     34,618    34,797    179  
Other debt securities   1,900    1,894    (6)    1,900    1,900    -  
Bond mutual funds   11,956    11,920    (36)    11,956    11,835    (121) 
Other investments   3,650    3,761    111     3,643    3,756    113  
Total investment portfolio available for sale$  347,430 $  349,496 $  2,066  $  227,553 $  229,577 $  2,024  
         
         
         
Capital Ratios        
 Regulatory Minimum       
 To BeJune 30,March 31,December 31,September 30,June 30,  
Bryn Mawr Trust CompanyWell Capitalized 2015  2015  2014  2014  2014   
         
Tier I capital to risk weighted assets ("RWA") 8.00% 12.26% 12.38% 11.32% 11.60% 11.68%  
Total (Tier II) capital to RWA 10.00% 12.93% 13.05% 12.19% 12.54% 12.62%  
Tier I leverage ratio 5.00% 9.77% 9.52% 8.98% 9.39% 9.51%  
Tangible equity ratioN/A 8.54% 8.42% 8.19% 9.21% 9.18%  
Common equity Tier I capital to RWA 4.50% 12.26% 12.38%N/AN/AN/A  
         
Bryn Mawr Bank Corporation        
         
Tier I capital to RWA 8.00% 12.77% 12.63% 12.00% 12.05% 11.85%  
Total (Tier II) capital to RWA 10.00% 13.44% 13.30% 12.87% 12.99% 12.79%  
Tier I leverage ratio 5.00% 10.20% 9.77% 9.43% 9.77% 9.67%  
Tangible equity ratioN/A 8.88% 8.87% 8.61% 9.58% 9.32%  
Common equity Tier I capital to RWA 4.50% 12.77% 12.63%N/AN/AN/A  
         

 

 


FOR MORE INFORMATION CONTACT: Frank Leto, President, CEO 610-581-4730 David Takats, CFO 610-581-4801

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