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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Bryn Mawr Bank Corporation    BMTC

BRYN MAWR BANK CORPORATION

(BMTC)
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Bryn Mawr Bank Corp Transitions Lau Associates into BMT Wealth Management

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01/24/2020 | 10:16am EST

BRYN MAWR, Pa., Jan. 24, 2020 (GLOBE NEWSWIRE) -- Bryn Mawr Bank Corporation (NASDAQ: BMTC) (the “Corporation”), parent of The Bryn Mawr Trust Company (“BMT”), announced today that effective January 1, 2020, the former Lau Associates now operates within Bryn Mawr Trust Wealth Management, a division of BMT. Lau Associates had operated as a separate subsidiary of BMBC since its acquisition in July of 2008. The office and team members will remain located in Greenville, Delaware.

“Bringing the former Lau Associates team under the BMT Wealth Management brand allows us to more efficiently operate and combine resources to best serve the planning and advisory needs of our clients,” said Jennifer Dempsey Fox, President of Bryn Mawr Trust Wealth Management. “Focusing our efforts as one collective group will have a positive impact on the way we fulfill our client’s purpose, mission, and goals. We are excited to be moving forward in unison under the Bryn Mawr Trust umbrella.”

Mark Bradford, Senior Vice President & Wealth Director, will lead the team of wealth strategists, investment advisors, financial planners, and relationship managers.  He has more than 25 years’ experience in financial services, the majority of which has been dedicated to managing and developing financial planning, private banking, and investment teams. Mr. Bradford reports directly to Ms. Fox.

Greenville team members include Cindy Peterson, Senior Vice President, Senior Wealth Planning Strategist & Team Leader; Joel Morris, Vice President & Senior Wealth Planning Strategist; Michael Paregian, Vice President & Wealth Planning Strategist; Scott Sumner, Vice President & Senior Tax Accountant;  and operational staff:  Jenn Atkinson, Pamela Lucas, and B.J. Whittaker.

Bryn Mawr Bank Corporation (NASDAQ: BMTC), including its principal subsidiary, The Bryn Mawr Trust Company (BMT), was founded in 1889 and is headquartered in Bryn Mawr, Pa. BMT is a locally managed, premier financial services company providing retail and commercial banking; trust administration and wealth management; and insurance and risk management solutions. Bryn Mawr Bank Corporation has $5.3 billion in corporate assets and $16.6 billion in wealth assets under management, administration, supervision, and brokerage (as of 12/31/19). Today, the company operates 43 banking locations, seven (7) wealth management offices and two (2) insurance and risk management locations in the following counties: Montgomery, Chester, Delaware, Philadelphia, and Dauphin Counties in Pennsylvania; New Castle County in Delaware; and Mercer and Camden Counties in New Jersey. For more information, visit bmt.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 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, 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; unanticipated regulatory or legal proceedings, outcomes of litigation or other contingencies; cybersecurity events; 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; our ability to complete anticipated acquisitions and any 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 well as any changes in risk factors that we may identify in our quarterly or other reports subsequently filed with the SEC.               

FOR MORE INFORMATION:

Tina McDonald
Senior Vice President, Marketing
610.581.4875

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© GlobeNewswire 2020
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Financials (USD)
Sales 2020 152 M
EBIT 2020 87,0 M
Net income 2020 63,2 M
Debt 2020 -
Yield 2020 3,19%
P/E ratio 2020 10,6x
P/E ratio 2021 10,1x
Capi. / Sales2020 4,40x
Capi. / Sales2021 4,20x
Capitalization 669 M
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Average target price 42,90  $
Last Close Price 33,24  $
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Francis Joseph Leto President, Chief Executive Officer & Director
Britt H. Murdoch Chairman
Michael W. Harrington Chief Financial Officer & Treasurer
Adam Bonanno Chief Technology Officer
Andrea F. Gilbert Independent Director
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