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Bryn Mawr Bank Corporation Reports Third Quarter Earnings of $7.5 Million, Strong Loan Growth, Declares Dividend of $0.20

BRYN MAWR, Pa., Oct. 22, 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 $7.5 million and diluted earnings per share of $0.42 for the three months ended September 30, 2015, as compared to net income of $6.5 million and diluted earnings per share of $0.47 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 $8.1 million, or $0.46 per diluted share, for the third quarter of 2015 as compared to $7.0 million, or $0.51 per diluted share, for the same period in 2014. Management believes that this non-GAAP measure is important in evaluating the Corporation’s performance. A reconciliation of the non-GAAP to GAAP performance measure is included in the schedules accompanying this earnings release.

During the quarter, portfolio loans grew by $75.5 million, or 3.5%, as the Bank’s expanded footprint continues to present new opportunities for our lending teams. “With the Continental systems conversion on the verge of completion, we are anticipating the elimination of the redundant costs associated with operating two bank platforms,” commented Frank Leto, President and Chief Executive Officer. Mr. Leto continued, “The strong loan growth during the quarter, as well as the consistent insurance and wealth management revenue streams are encouraging signs for the future.”

On October 22, 2015, the Board of Directors of the Corporation declared a quarterly dividend of $0.20 per share, payable December 1, 2015 to shareholders of record as of November 3, 2015.

SIGNIFICANT ITEMS OF NOTE

Results of Operations – 3rd Quarter 2015 Compared to 3rd Quarter 2014

  • Net income of $7.5 million for the three months ended September 30, 2015 increased $990 thousand, or 15.2%, from $6.5 million for the same period in 2014.
  • Net interest income for the three months ended September 30, 2015 was $24.8 million, an increase of $5.7 million, or 29.5%, from $19.2 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 September 30, 2015 increased by $561.4 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 September 30, 2015 increased by $459.5 million as compared to the same period in 2014, primarily related to the deposits acquired in the Merger.
  • The tax-equivalent net interest margin of 3.65% for the three months ended September 30, 2015 was a 22 basis point decrease from 3.87% for the same period in 2014. The decrease was largely the result of the 16 basis point decline in tax-equivalent yield on portfolio loans, accompanied by a $561.4 million increase in average portfolio loan balances. In addition, average interest-bearing deposits, which increased by $459.5 million, included a 1 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 15 basis points of the margin for the third quarter of 2015 as compared to 11 basis points for the same period in 2014.
  • Non-interest income for the three months ended September 30, 2015 increased $1.8 million as compared to the same period in 2014. A $901 thousand increase in insurance revenues, a $245 thousand increase in net gain on sale of loans and a $421 thousand increase in other operating income accounted for the majority of this increase. The significant increase in insurance revenues resulted from the October 2014 acquisition of Powers Craft Parker and Beard, Inc. and the April 2015 acquisition of the Robert J. McAllister Agency. Net gain on sale of loans included gains on the sale of residential mortgage loans and gains on the sale of SBA loans. Included in other operating income was a $140 thousand increase in income on bank owned life insurance (“BOLI”), primarily related to a $5.0 million investment in BOLI, which was completed on July 1, 2015. In addition, income on CRA investments for the third quarter of 2015 increased by $111 thousand as compared to the same period in 2014.
  • Non-interest expense for the three months ended September 30, 2015 increased $5.4 million, to $25.4 million, as compared to $20.0 million for the same period in 2014. Increases of $1.8 million, $938 thousand and $1.3 million, in salary and wages, employee benefits and occupancy and furniture, fixtures and equipment expenses, respectively, much of which was related to the addition of the Continental staff and offices, along with $190 thousand in severance costs incurred in the third quarter of 2015, contributed to the increase. In addition, due diligence and merger-related costs increased by $240 thousand from the third quarter of 2014, largely due to the Merger and the ongoing integration efforts. Due diligence and merger-related expenses for the third quarter of 2015 included $541 thousand in salary and wages and related benefits, $318 thousand in consulting and other professional fees, and $177 thousand in systems conversion and deconversion costs.
  • Nonperforming loans and leases totaled $12.3 million as of September 30, 2015, representing 0.55% of total portfolio loans and leases, as compared to $8.3 million, or 0.51% of total portfolio loans and leases as of September 30, 2014. For the three months ended September 30, 2015, the Corporation recorded net loan and lease charge-offs of $224 thousand, as compared to $421 thousand for the same period in 2014. The provision for loan and lease losses (the “Provision”) for the three months ended September 30, 2015 was $1.2 million as compared to $550 thousand for the same period in 2014. Largely contributing to the $650 thousand increase in Provision was the recognition of an impaired commercial and industrial loan which required a specific allowance for loan and lease loss (the “Allowance”) of $514 thousand.

Results of Operations – 3rd Quarter 2015 Compared to 2nd Quarter 2015

  • Net income of $7.5 million for the three months ended September 30, 2015 decreased $623 thousand, or 7.7%, from $8.1 million for the three months ended June 30, 2015.
  • Net interest income for the three months ended September 30, 2015 was $24.8 million, a decrease of $237 thousand from $25.1 million for the three months ended June 30, 2015. The decrease in net interest income between the periods was partially related to the $231 thousand interest expense on subordinated notes recorded in the third quarter. The Corporation issued $30.0 million of 4.75% subordinated notes in August 2015. The increase in coupon interest earned on portfolio loans, whose average balance increased by $69.8 million from the second quarter of 2015 to the third quarter of 2015, was substantially offset by the $483 thousand decrease in interest from the accretion of loan fair value marks between the periods. Loans acquired in mergers are marked to fair value at the time of acquisition. Subsequent maturities and early payoffs can result in unpredictable fluctuations in the recognition of the loan mark as a component of loan interest.
  • The tax-equivalent net interest margin of 3.65% for the three months ended September 30, 2015 decreased 16 basis points from 3.81% in the second quarter of 2015. The contribution of fair value mark accretion to the tax equivalent net interest margin accounted for 15 basis points of the margin for the third quarter of 2015 as compared to 23 basis points for the second quarter of 2015.
  • Non-interest income for the three months ended September 30, 2015 decreased $827 thousand from the second quarter of 2015. The decrease was partially related to the $406 thousand decrease in wealth management revenue. This decrease resulted not only from the absence of fees for tax services, which were earned in the second quarter of 2015, but also from the decrease in market value of the assets under management. Fees earned on a significant portion of the wealth clients are tied to the market value of the assets held. Assets under management, administration, supervision and brokerage as of September 30, 2015 totaled $8.22 billion, down from $8.54 billion as of June 30, 2015. Other factors impacting the decrease in non-interest income were a $200 thousand decrease in loan servicing and other fees, which included $127 thousand of impairment of non-mortgage servicing rights on serviced SBA loans, and a $161 thousand decrease in dividends on bank stocks. Partially offsetting these decreases was a $248 thousand increase in insurance revenue.
  • Non-interest expense for the three months ended September 30, 2015 decreased $579 thousand, to $25.4 million, as compared to $26.0 million for the second quarter of 2015. The decrease was comprised of decreases of $279 thousand in due diligence and merger-related expenses, $251 thousand in occupancy expenses and $123 thousand in salaries and wages. The decrease in salaries and wages was net of $190 thousand of severance costs incurred in the third quarter of 2015.
  • For the three months ended September 30, 2015, the Corporation recorded net loan and lease charge-offs of $224 thousand, as compared to $187 thousand for the second quarter of 2015. The Provision for the three months ended September 30, 2015 was $1.2 million, as compared to $850 thousand for the second quarter of 2015. The increase in Provision for the third quarter of 2015 was partially related to the $75.5 million net increase in portfolio loans between June 30, 2015 and September 30, 2015, as well as the need for specific Allowances on impaired loans. The most significant impaired loan was a $1.9 million commercial and industrial loan requiring a $514 thousand specific Allowance.

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

  • Total portfolio loans and leases of $2.23 billion as of September 30, 2015 increased by $576.5 million from December 31, 2014. In addition to the $424.2 million of portfolio loans acquired in the Merger, strong loan growth of $152.3 million, or 7.3%, occurred during the nine months ended September 30, 2015.
  • The Allowance, as of September 30, 2015, was $15.9 million, or 0.71% 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 the 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 non-GAAP measures: the Allowance as a percentage of originated loans and leases, which was 0.88% as of September 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 1.52% as of September 30, 2015, as compared to 1.27% as of December 31, 2014.
  • Available for sale investment securities as of September 30, 2015 were $341.4 million, an increase of $111.8 million from December 31, 2014. In connection with 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 in the Merger, 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 September 30, 2015 were $2.95 billion, an increase of $706.2 million from December 31, 2014. The 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 $152.3 million, available for sale investment securities decreased by $70.0 million, and FHLB stock decreased by $4.8 million.
  • Wealth assets under management, administration, supervision and brokerage totaled $8.22 billion as of September 30, 2015, an increase of $518.4 million from December 31, 2014.
  • Deposits of $2.24 billion as of September 30, 2015, increased $551.8 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 $64.9 million and $5.3 million in non-interest-bearing deposits and interest-bearing deposits, respectively, were recorded between the dates. As of September 30, 2015, non-interest-bearing deposits comprised 27.0% of total deposits as compared to 26.5% as of December 31, 2014.
  • The capital ratios for the Bank and the Corporation, as of September 30, 2015, 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 Merger, increases in retained earnings and the impact of the Corporation’s issuance of $30 million of subordinated notes, the effect of which can be seen in the 40 basis point increase in the ratio of Tier II capital to risk weighted assets.

EARNINGS CONFERENCE CALL

The Corporation will hold an earnings conference call at 8:30 a.m. Eastern Time on Friday, October 23, 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 November 6, 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 10072507.

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/bmtc151023-830a. 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
September 30,June 30,March 31,December 31,September 30,
2015 2015 2015 2014 2014
Interest and fees on loans and leases$ 25,620 $ 25,568 $ 25,164 $ 19,913 $ 19,710
Interest on cash and cash equivalents 107 124 115 66 46
Interest on investment securities:
Taxable 1,135 1,161 1,320 891 863
Non-taxable 125 106 135 95 100
Dividends 42 34 20 90 30
Total interest income 27,029 26,993 26,754 21,055 20,749
Savings, NOW and market rate deposits 584 575 594 422 430
Wholesale deposits 203 195 188 190 175
Time deposits 289 292 246 143 137
Interest on deposits 1,076 1,062 1,028 755 742
Interest on short-term borrowings 8 10 21 4 4
Interest on FHLB advances and other borrowings 881 851 910 809 827
Interest on subordinated notes 231 - - - -
Total interest expense 2,196 1,923 1,959 1,568 1,573
Net interest income 24,833 25,070 24,795 19,487 19,176
Provision for loan and lease losses 1,200 850 569 (316) 550
Net interest income after provision for loan and lease losses 23,633 24,220 24,226 19,803 18,626
Fees for wealth management services 9,194 9,600 9,105 9,263 9,099
Service charges on deposits 721 752 712 658 663
Loan servicing and other fees 397 597 591 450 431
Net gain on sale of loans 685 778 808 471 440
Net gain on sale of investment securities available for sale 60 3 810 390 -
Net gain (loss) on sale of other real estate owned - 75 15 4 (49)
Dividends on bank stocks 138 299 615 211 126
Insurance revenue 1,065 817 1,021 795 164
Other operating income 1,090 1,256 1,088 641 669
Non-interest income 13,350 14,177 14,765 12,883 11,543
Salaries and wages 10,941 11,064 10,870 9,869 9,110
Employee benefits 2,590 2,618 2,729 1,900 1,652
Occupancy and bank premises 2,557 2,808 2,466 1,808 1,881
Furniture, fixtures and equipment 1,712 1,488 1,512 1,358 1,078
Advertising 410 479 557 400 310
Amortization of intangible assets 953 955 982 753 633
Due diligence and merger-related expenses 1,015 1,294 2,501 957 775
Professional fees 843 827 673 809 701
Pennsylvania bank shares tax 433 433 433 64 412
Information technology 1,053 814 702 747 678
Other operating expenses 2,896 3,202 4,004 3,267 2,731
Non-interest expense 25,403 25,982 27,429 21,932 19,961
Income before income taxes 11,580 12,415 11,562 10,754 10,208
Income tax expense 4,084 4,296 4,068 3,710 3,702
Net income$ 7,496 $ 8,119 $ 7,494 $ 7,044 $ 6,506
Per share data:
Weighted average shares outstanding 17,572,421 17,713,794 17,545,802 13,646,098 13,600,348
Dilutive common shares 263,289 340,869 357,456 296,682 272,516
Adjusted weighted average diluted shares 17,835,710 18,054,663 17,903,258 13,942,780 13,872,864
Basic earnings per common share$0.43 $0.46 $0.43 $0.52 $0.48
Diluted earnings per common share$0.42 $0.45 $0.42 $0.51 $0.47
Dividend declared per share$0.20 $0.19 $0.19 $0.19 $0.19
Effective tax rate 35.3% 34.6% 35.2% 34.5% 36.3%
Supplemental Non-GAAP Performance Measures* (Includes Reconciliation of Non-GAAP to GAAP Performance Measures)
Net income (a GAAP measure)$ 7,496 $ 8,119 $ 7,494 $ 7,044 $ 6,506
less: tax-effected net gain on sale of available for sale investments (39) (2) (527) (254) -
add: tax-effected** due diligence and merger-related expenses 660 841 1,626 622 504
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)$ 8,117 $ 8,958 $ 8,593 $ 7,412 $ 7,010
Basic earnings per common share excluding tax-effected** due diligence and merger-related expenses and security gains (a non-GAAP measure)$ 0.46 $ 0.51 $ 0.49 $ 0.54 $ 0.52
Diluted earnings per common share excluding tax-effected** due diligence and merger-related expenses and security gains (a non-GAAP measure)$ 0.46 $ 0.50 $ 0.48 $ 0.53 $ 0.51
*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 Nine Months Ended September 30,
2015 2014
Interest and fees on loans and leases$ 76,352 $ 58,628
Interest on cash and cash equivalents 346 127
Interest on investment securities:
Taxable 3,616 2,705
Non-taxable 366 304
Dividends 96 87
Total interest income$ 80,776 $ 61,851
Savings, NOW and market rate deposits 1,753 1,254
Wholesale deposits 586 437
Time deposits 827 453
Interest on deposits 3,166 2,144
Interest on short-term borrowings 39 12
Interest on FHLB advances and other borrowings 2,642 2,354
Interest on subordinated notes 231 -
Total interest expense 6,078 4,510
Net interest income 74,698 57,341
Provision for loan and lease losses 2,619 1,200
Net interest income after provision for loan and lease losses 72,079 56,141
Fees for wealth management services 27,899 27,511
Service charges on deposits 2,185 1,920
Loan servicing and other fees 1,585 1,305
Net gain on sale of loans 2,271 1,301
Net gain on sale of investment securities available for sale 873 81
Net gain on sale of other real estate owned 90 171
Dividends on bank stocks 1,052 404
Insurance revenue 2,903 369
Other operating income 3,434 2,377
Non-interest income 42,292 35,439
Salaries and wages 32,875 27,244
Employee benefits 7,937 5,440
Occupancy and bank premises 7,831 5,497
Furniture fixtures and equipment 4,712 3,150
Advertising 1,446 1,104
Amortization of intangible assets 2,890 1,906
Due diligence and merger-related expenses 4,810 1,416
Professional fees 2,343 2,208
Pennsylvania bank shares tax 1,299 1,192
Information technology 2,569 2,024
Other operating expenses 10,102 8,305
Non-interest expense 78,814 59,486
Income before income taxes 35,557 32,094
Income tax expense 12,448 11,295
Net income$ 23,109 $ 20,799
Per share data:
Weighted average shares outstanding 17,610,353 13,539,329
Dilutive common shares 320,538 294,114
Adjusted weighted average shares 17,930,891 13,833,443
Basic earnings per common share$1.31 $1.54
Diluted earnings per common share$1.29 $1.50
Dividend declared per share$0.58 $0.55
Effective tax rate 35.0% 35.2%
Supplemental Non-GAAP Performance Measures* (Includes Reconciliation of Non-GAAP to GAAP Performance Measures)
Net income (a GAAP measure)$ 23,109 $ 20,799
less: tax-effected net gain on sale of available for sale investments (567) (53)
add: tax-effected** due diligence and merger-related expenses 3,127 920
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)$ 25,669 $ 21,666
Basic earnings per common share excluding tax-effected** due diligence and merger-related expenses (a non-GAAP measure)$ 1.46 $ 1.60
Diluted earnings per common share excluding tax-effected** due diligence and merger-related expenses (a non-GAAP measure)$ 1.43 $ 1.57
*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)
September 30,June 30,March 31,December 31,September 30,
2015 2015 2015 2014 2014
Assets
Interest-bearing deposits with banks$ 100,980 $ 156,282 $ 244,248 $ 202,552 $ 56,253
Investment securities - available for sale 341,421 349,496 334,746 229,577 265,939
Investment securities - trading 3,451 4,029 4,035 3,896 3,803
Loans held for sale 8,721 15,363 6,656 3,882 1,375
Portfolio loans:
Consumer 22,350 25,123 20,204 18,480 16,810
Commercial & industrial 488,977 472,702 457,432 335,645 342,524
Commercial mortgages 971,983 924,161 892,675 689,528 683,558
Construction 82,820 88,122 81,408 66,267 59,923
Residential mortgages 399,730 381,323 379,363 313,442 314,127
Home equity lines & loans 212,258 211,982 209,037 182,082 183,314
Leases 50,646 49,850 48,412 46,813 44,982
Total portfolio loans and leases 2,228,764 2,153,263 2,088,531 1,652,257 1,645,238
Earning assets 2,683,337 2,678,433 2,678,216 2,092,164 1,972,608
Cash and due from banks 17,161 20,258 17,269 16,717 11,312
Allowance for loan and lease losses (15,935) (14,959) (14,296) (14,586) (15,599)
Premises and equipment 44,370 43,164 42,888 33,748 32,733
Accrued interest receivable 7,744 7,518 7,465 5,560 5,661
Mortgage servicing rights 5,031 4,970 4,815 4,765 4,796
Goodwill 104,338 104,322 101,619 35,502 32,843
Other intangible assets 25,356 26,309 26,522 22,998 17,459
Bank owned life insurance 38,157 32,941 32,772 20,535 20,451
FHLB stock 11,742 11,542 11,541 11,523 12,889
Deferred income taxes 11,216 11,066 12,057 7,011 5,786
Other investments 9,499 9,295 9,238 5,226 4,592
Other assets 10,726 15,155 13,073 5,343 18,351
Total assets$ 2,952,742 $ 2,950,014 $ 2,943,179 $ 2,246,506 $ 2,123,882
Liabilities and shareholders' equity
Interest-bearing deposits:
Interest-bearing checking$ 330,684 $ 328,606 $ 349,582 $ 277,228 $ 256,890
Money market 748,983 699,263 717,441 566,354 550,238
Savings 192,995 189,120 184,819 138,992 142,364
Wholesale non-maturity deposits 65,636 65,365 69,555 66,693 41,290
Wholesale time deposits 57,671 67,894 73,476 73,458 60,171
Retail time deposits 238,269 274,008 263,996 118,400 121,158
Total interest-bearing deposits 1,634,238 1,624,256 1,658,869 1,241,125 1,172,111
Non-interest-bearing deposits 605,607 636,390 582,495 446,903 438,221
Total deposits 2,239,845 2,260,646 2,241,364 1,688,028 1,610,332
Short-term borrowings 24,264 26,406 38,372 23,824 13,980
Long-term FHLB advances and other borrowings 254,893 244,923 250,088 260,146 230,574
Subordinated notes 29,466 - - - -
Other liabilities 36,119 36,941 35,452 29,034 21,387
Shareholders' equity 368,155 381,098 377,903 245,474 247,609
Total liabilities and shareholders' equity$ 2,952,742 $ 2,950,014 $ 2,943,179 $ 2,246,506 $ 2,123,882
Bryn Mawr Bank Corporation
Consolidated Quarterly Average Balance Sheets - (unaudited)
(dollars in thousands)
For The Three Months Ended
September 30,June 30,March 31,December 31,September 30,
2015 2015 2015 2014 2014
Assets
Interest-bearing deposits with banks$ 165,723 $ 182,099 $ 206,694 $ 115,276 $ 78,324
Investment securities - available for sale 352,006 347,046 370,293 252,422 265,491
Investment securities - trading 4,022 4,034 3,897 3,804 3,599
Loans held for sale 10,527 6,735 3,470 982 1,116
Portfolio loans and leases 2,181,125 2,111,371 2,079,412 1,654,239 1,629,102
Earning assets 2,713,403 2,651,285 2,663,766 2,026,723 1,977,632
Cash and due from banks 17,160 16,222 19,092 13,795 12,739
Allowance for loan and lease losses (15,066) (14,346) (14,866) (15,837) (15,672)
Premises and equipment 43,699 43,172 44,681 33,290 32,763
Goodwill 104,323 102,237 98,744 35,539 32,843
Other intangible assets 25,918 26,879 26,316 23,392 17,821
Bank owned life insurance 38,015 32,830 32,655 20,478 20,402
FHLB stock 11,592 11,542 11,928 11,419 12,864
Deferred income taxes 10,684 11,819 10,449 2,941 5,926
Other assets 31,580 29,061 25,391 31,102 30,491
Total assets$ 2,981,308 $ 2,910,701 $ 2,918,156 $ 2,182,842 $ 2,127,809
Liabilities and shareholders' equity
Interest-bearing deposits:
Interest-bearing checking$ 334,350 $ 339,101 $ 341,756 $ 259,408 $ 255,601
Money market 735,842 699,100 724,806 553,708 565,803
Savings 190,337 186,343 185,848 143,650 143,877
Wholesale non-maturity deposits 65,671 61,306 66,677 60,197 43,256
Wholesale time deposits 67,606 69,191 73,443 68,525 54,976
Retail time deposits 251,170 273,718 267,800 120,855 121,986
Total interest-bearing deposits 1,644,976 1,628,759 1,660,330 1,206,343 1,185,499
Non-interest bearing deposits 625,547 580,240 534,403 446,252 426,883
Total deposits 2,270,523 2,208,999 2,194,733 1,652,595 1,612,382
Short-term borrowings 28,166 34,980 55,207 19,407 14,074
Long-term FHLB advances and other borrowings 248,606 249,678 266,342 237,835 235,091
Subordinated notes 18,190 - - - -
Other liabilities 39,219 37,890 30,935 24,070 22,298
Shareholders' equity 376,604 379,154 370,939 248,935 243,964
Total liabilities and shareholders' equity$ 2,981,308 $ 2,910,701 $ 2,918,156 $ 2,182,842 $ 2,127,809

Bryn Mawr Bank Corporation
Consolidated Year-to-Date Average Balance Sheets - (unaudited)
(dollars in thousands)
For The Nine Months Ended September 30,
2015 2014
Assets
Interest bearing deposits with banks$ 184,689 $ 72,341
Investment securities - available for sale 356,381 272,906
Investment securities - trading 3,985 3,519
Loans held for sale 6,936 969
Portfolio loans and leases 2,124,342 1,592,749
Earning assets 2,676,333 1,942,484
Cash and due from banks 17,484 12,371
Allowance for loan and lease losses (14,760) (15,835)
Premises and equipment 43,847 32,652
Goodwill 101,436 32,843
Intangible assets 26,370 18,454
Bank owned life insurance 34,520 20,327
FHLB stock 11,716 12,508
Deferred income taxes 11,337 6,977
Other assets 28,670 30,037
Total assets$ 2,936,953 $ 2,092,818
Liabilities and shareholders' equity
Interest-bearing deposits:
Interest-bearing checking$ 338,375 $ 261,071
Money market 719,957 555,793
Savings 187,525 141,724
Wholesale non-maturity deposits 64,548 42,690
Wholesale time deposits 70,059 46,373
Time deposits 264,168 127,863
Total interest-bearing deposits 1,644,632 1,175,514
Non-interest-bearing deposits 580,356 419,542
Total deposits 2,224,988 1,595,056
Short-term borrowings 39,352 14,798
Long-term FHLB advances and other borrowings 254,810 223,532
Subordinated notes 6,130 -
Other liabilities 35,978 21,403
Shareholders' equity 375,695 238,029
Total liabilities and shareholders' equity$ 2,936,953 $ 2,092,818

Bryn Mawr Bank Corporation
Quarterly Tax-Equivalent Net Interest Margin Calculation - (unaudited)
(dollars in thousands)
For The Three Months Ended
September 30, 2015June 30, 2015March 31, 2015December 31, 2014September 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$ 165,723 $ 107 0.26 %$ 182,099 $ 124 0.27 %$ 206,694 $ 115 0.23 %$ 115,276 $ 65 0.22 %$ 78,324 $ 46 0.23 %
Investment securities - available for sale:
Taxable 310,582 1,172 1.50 % 310,011 1,184 1.53 % 335,208 1,336 1.62 % 221,190 973 1.75 % 230,457 884 1.52 %
Tax-exempt 41,424 186 1.78 % 37,035 157 1.70 % 35,085 203 2.35 % 31,232 142 1.80 % 35,034 149 1.69 %
Total investment securities - available for sale 352,006 1,358 1.53 % 347,046 1,341 1.55 % 370,293 1,539 1.69 % 252,422 1,115 1.75 % 265,491 1,033 1.54 %
Investment securities - trading 4,022 5 0.49 % 4,034 11 1.09 % 3,897 4 0.42 % 3,804 9 0.94 % 3,599 9 0.99 %
Loans and leases * 2,191,652 25,698 4.65 % 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 %
Total interest-earning assets 2,713,403 27,168 3.97 % 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 %
Cash and due from banks 17,160 16,222 19,092 13,795 12,739
Less: allowance for loan and lease losses (15,066) (14,346) (14,866) (15,837) (15,672)
Other assets 265,811 257,540 250,164 158,161 153,110
Total assets$ 2,981,308 $ 2,910,701 $ 2,918,156 $ 2,182,842 $ 2,127,809
Liabilities:
Interest-bearing deposits:
Savings, NOW and market rate deposits$ 1,260,529 $ 584 0.18 %$ 1,224,544 $ 575 0.19 %$ 1,252,410 $ 594 0.19 %$ 956,766 $ 422 0.17 %$ 965,281 $ 430 0.18 %
Wholesale deposits 133,277 203 0.60 % 130,497 195 0.60 % 140,120 188 0.54 % 128,722 190 0.59 % 98,232 175 0.71 %
Time deposits 251,170 289 0.46 % 273,718 292 0.43 % 267,800 246 0.37 % 120,855 143 0.47 % 121,986 137 0.45 %
Total interest-bearing deposits 1,644,976 1,076 0.26 % 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 %
Borrowings:
Short-term borrowings 28,166 8 0.11 % 34,980 10 0.11 % 55,344 21 0.15 % 19,407 4 0.08 % 14,074 3 0.08 %
Long-term FHLB advances and other borrowings 248,606 881 1.41 % 249,678 851 1.37 % 266,205 910 1.39 % 237,835 809 1.35 % 235,091 828 1.40 %
Subordinated notes 18,190 231 5.04 % - - - % - - - % - - - % - - - %
Total borrowings 294,962 1,120 1.51 % 284,658 861 1.21 % 321,549 931 1.17 % 257,242 813 1.25 % 249,165 831 1.32 %
Total interest-bearing liabilities 1,939,938 2,196 0.45 % 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 %
Noninterest-bearing deposits 625,547 580,240 534,403 446,252 426,883
Other liabilities 39,219 37,890 30,935 24,070 22,298
Total noninterest-bearing liabilities 664,766 618,130 565,338 470,322 449,181
Total liabilities 2,604,704 2,531,547 2,547,217 1,933,907 1,883,845
Shareholders' equity 376,604 379,154 370,939 248,935 243,964
Total liabilities and shareholders' equity$ 2,981,308 $ 2,910,701 $ 2,918,156 $ 2,182,842 $ 2,127,809
Interest income to earning assets 3.97 % 4.10 % 4.09 % 4.14 % 4.18 %
Net interest spread 3.52 % 3.70 % 3.69 % 3.71 % 3.75 %
Effect of noninterest-bearing sources 0.13 % 0.11 % 0.10 % 0.13 % 0.12 %
Tax-equivalent net interest margin $ 24,972 3.65 % $ 25,176 3.81 % $ 24,925 3.79 % $ 19,593 3.84 % $ 19,282 3.87 %
Tax-equivalent adjustment $ 139 0.02 % $ 106 0.02 % $ 130 0.02 % $ 106 0.02 % $ 106 0.02 %
Supplemental Information Regarding Accretion of Fair Value Marks
Accretion of fair value marks on loans $ 763 0.11% $ 1,246 0.19% $ 1,127 0.17% $ 513 0.10% $ 516 0.10%
Accretion of fair value marks on time deposits 188 0.03% 205 0.03% 245 0.04% 4 0.00% 6 0.00%
Accretion of fair value marks on borrowings 65 0.01% 65 0.01% 70 0.01% 30 0.01% 30 0.01%
Net interest income from fair value marks $ 1,016 $ 1,516 $ 1,442 $ 547 $ 552
Effect of fair value mark accretion on tax-equivalent net interest margin 0.15% 0.23% 0.22% 0.11% 0.11%
* 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
Year-To-Date Tax-Equivalent Net Interest Margin Calculation - (unaudited)
(dollars in thousands)
For The Nine Months Ended September 30,
2015 2014
Average BalanceInterest Income/ ExpenseAverage Rates Earned/ Paid Average BalanceInterest Income/ ExpenseAverage Rates Earned/ Paid
Assets:
Interest-bearing deposits with other banks$ 184,689 346 0.25%$ 72,341 127 0.23%
Federal funds sold - - - - - -
Investment securities available for sale: %
Taxable 318,510 3,691 1.55% 237,053 2,759 1.56%
Tax-exempt 37,871 546 1.93% 35,853 453 1.69%
Investment securities - available for sale 356,381 4,237 1.59% 272,906 3,212 1.57%
Investment securities - trading 3,985 21 0.70% 3,519 33 1.25%
Loans and leases * 2,131,278 76,548 4.80% 1,593,718 58,810 4.93%
Total interest earning assets 2,676,333 81,152 4.05% 1,942,484 62,182 4.28%
Cash and due from banks 17,484 12,371
Less allowance for loan and lease losses (14,760) (15,835)
Other assets 257,896 153,798
Total assets$ 2,936,953 $ 2,092,818
Liabilities:
Savings,NOW and market rate deposits$ 1,245,857 $ 1,753 0.19%$ 958,588 $ 1,254 0.17%
Wholesale deposits 134,607 586 0.58% 89,063 437 0.66%
Time deposits 264,168 827 0.42% 127,863 453 0.47%
Total interest-bearing deposits 1,644,632 3,166 0.26% 1,175,514 2,144 0.24%
Short-term borrowings 39,352 39 0.13% 14,798 12 0.11%
Long-term FHLB advances and other borrowings 254,810 2,642 1.39% 223,532 2,354 1.41%
Subordinated notes 6,130 231 5.04% - - -%
Total Borrowings 300,292 2,912 1.30% 238,330 2,366 1.33%
Total interest-bearing liabilities 1,944,924 6,078 0.42% 1,413,844 4,510 0.43%
Noninterest-bearing deposits 580,356 419,542
Other liabilities 35,978 21,403
Total noninterest-bearing liabilities 616,334 440,945
Total liabilities 2,561,258 1,854,789
Shareholders' equity 375,695 238,029
Total liabilities and shareholders' equity$ 2,936,953 $ 2,092,818
Interest income to earning assets 4.05% 4.28%
Net interest spread 3.63% 3.85%
Effect of noninterest-bearing sources 0.12% 0.12%
Tax-equivalent net interest margin $ 75,074 3.75% $ 57,672 3.97%
Tax-equivalent adjustment $ 376 0.02 % $ 331 0.02 %
Supplemental Information Regarding Accretion of Fair Value Marks
Accretion of fair value marks on loans $ 3,136 $ 2,218
Accretion of fair value marks on time deposits 638 19
Accretion of fair value marks on borrowings 200 91
Net interest income from fair value marks $ 3,974 $ 2,328
Effect of fair value mark accretion on tax-equivalent net interest margin 0.20% 0.16%
* 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
September 30,June 30,March 31,December 31,September 30,
2015 2015 2015 2014 2014
Asset Quality Data
Nonaccrual loans and leases$ 12,315 $ 8,996 $ 9,130 $ 10,096 $ 8,336
90 days or more past due loans, still accruing - - - - -
Nonperforming loans and leases 12,315 8,996 9,130 10,096 8,336
Other real estate owned 1,010 843 1,532 1,147 894
Total nonperforming assets$ 13,325 $ 9,839 $ 10,662 $ 11,243 $ 9,230
Troubled debt restructurings included in nonperforming assets$ 3,711 $ 3,960 $ 4,217 $ 4,315 $ 1,725
Troubled debt restructurings in compliance with modified terms 4,062 4,078 4,145 4,157 6,913
Total troubled debt restructurings$ 7,773 $ 8,038 $ 8,362 $ 8,472 $ 8,638
Nonperforming loans and leases / portfolio loans & leases 0.55% 0.42% 0.44% 0.61% 0.51%
Nonperforming assets / total assets 0.45% 0.33% 0.36% 0.50% 0.43%
Net loan and lease charge-offs / average loans and leases (annualized) 0.04% 0.04% 0.16% 0.17% 0.10%
Delinquency rate* - Performing and nonperforming loans and leases 30 days or more past due 0.62% 0.58% 0.51% 0.50% 0.48%
Performing loans and leases - 30-89 days past due$ 4,960 $ 5,233 $ 3,361 $ 2,232 $ 1,739
Delinquency rate* - Performing loans and leases - 30-89 days past due 0.22% 0.24% 0.16% 0.13% 0.11%
* as a percentage of total loans and leases
Changes in the allowance for loan and lease losses:
Balance, beginning of period$ 14,959 $ 14,296 $ 14,586 $ 15,599 $ 15,470
Charge-offs (308) (312) (928) (864) (493)
Recoveries 84 125 69 167 72
Net charge-offs (224) (187) (859) (697) (421)
Provision for loan and lease losses 1,200 850 569 (316) 550
Balance, end of period$ 15,935 $ 14,959 $ 14,296 $ 14,586 $ 15,599
Total Allowance / Total Portfolio loans and leases 0.71% 0.69% 0.68% 0.88% 0.95%
Allowance on originated loans and leases / Originated loans and leases (a non-GAAP measure) 0.88% 0.88% 0.90% 0.94% 1.01%
(Total Allowance + Loan mark) / Total Gross portfolio loans and leases (a non-GAAP measure) 1.52% 1.60% 1.61% 1.27% 1.36%
Total Allowance / nonperforming loans and leases 129.4% 166.3% 156.6% 144.5% 187.1%
Supplemental Loan and Allowance Information Used to Calculate Non-GAAP Measures
Total Allowance$ 15,935 $ 14,959 $ 14,296 $ 14,586 $ 15,599
less: Allowance on acquired loans 35 22 125 86 273
Allowance on originated loans and leases$ 15,900 $ 14,937 $ 14,171 $ 14,500 $ 15,326
Total Allowance$ 15,935 $ 14,959 $ 14,296 $ 14,586 $ 15,599
Loan mark on acquired loans 18,179 19,816 19,708 6,422 6,932
Total Allowance + Loan mark$ 34,114 $ 34,775 $ 34,004 $ 21,008 $ 22,531
Total Portfolio loans and leases$ 2,228,764 $ 2,153,263 $ 2,088,532 $ 1,652,257 $ 1,645,238
less: Originated loans and leases 1,804,835 1,692,041 1,571,377 1,535,003 1,516,104
Net acquired loans$ 423,929 $ 461,222 $ 517,155 $ 117,254 $ 129,134
add: Loan mark on acquired loans 18,179 19,816 19,708 6,422 6,932
Gross acquired loans (excludes loan mark)$ 442,108 $ 481,038 $ 536,863 $ 123,676 $ 136,066
Originated loans and leases 1,804,835 1,692,041 1,571,377 1,535,003 1,516,104
Total Gross portfolio loans and leases$ 2,246,943 $ 2,173,079 $ 2,108,240 $ 1,658,679 $ 1,652,170
For The Three Months Ended or As Of
September 30,June 30,March 31,December 31,September 30,
2015 2015 2015 2014 2014
Selected ratios (annualized):
Return on average assets 1.00% 1.12% 1.04% 1.28% 1.21%
Return on average shareholders' equity 7.90% 8.59% 8.19% 11.23% 10.58%
Return on average tangible equity (2) 12.07% 13.02% 12.36% 14.71% 13.35%
Tax-equivalent yield on loans and leases 4.65% 4.85% 4.91% 4.79% 4.81%
Tax-equivalent yield on interest-earning assets 3.97% 4.10% 4.09% 4.14% 4.18%
Cost of interest-bearing funds 0.45% 0.40% 0.40% 0.43% 0.43%
Tax-equivalent net interest margin 3.65% 3.81% 3.79% 3.84% 3.87%
Book value per share$ 21.45 $ 21.43 $ 21.26 $ 17.83 $ 18.03
Tangible book value per share$ 13.89 $ 14.08 $ 14.05 $ 13.59 $ 14.37
Shares outstanding at end of period 17,166,323 17,786,293 17,777,628 13,769,336 13,730,581
Selected data:
Mortgage loans originated$ 76,169 $ 63,285 $ 35,728 $ 29,929 $ 29,861
Residential mortgage loans sold - servicing retained$ 30,515 $ 28,204 $ 24,569 $ 14,382 $ 16,237
Residential mortgage loans sold - servicing released 10,579 9,257 2,644 92 539
Total residential mortgage loans sold$ 41,094 $ 37,461 $ 27,213 $ 14,474 $ 16,776
Yield on residential mortgage loans sold 1.67% 2.08% 2.97% 3.25% 2.62%
Residential mortgage loans serviced for others$ 601,999 $ 595,440 $ 591,989 $ 590,659 $ 594,156
Total wealth assets under management, administration, supervision and brokerage (1)$ 8,218,276 $ 8,536,024 $ 7,816,441 $ 7,699,908 $ 7,580,779
(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.
For the Nine Months Ended September 30,
Selected ratios (annualized): 2015 2014
Return on average assets 1.05% 1.33%
Return on average shareholders' equity 8.22% 11.68%
Return on average tangible equity (1) 12.46% 14.89%
Tax-equivalent yield on loans and leases 4.80% 4.93%
Tax-equivalent yield on interest-earning assets 4.05% 4.28%
Cost of interest-bearing liabilities 0.42% 0.43%
Tax-equivalent net interest margin 3.75% 3.97%
Selected data:
Residential mortgage loans originated$ 175,182 $ 87,328
Residential mortgage loans sold - servicing retained$ 83,288 $ 40,477
Residential mortgage loans sold - servicing released 22,480 691
Total residential mortgage loans sold$ 105,768 $ 41,168
(1) Average tangible equity equals average shareholders' equity minus average goodwill and average other intangible assets.
Investment Portfolio - Available for SaleAs of September 30, 2015 As of December 31, 2014
Net Net
AmortizedFairUnrealized AmortizedFairUnrealized
SECURITY DESCRIPTIONCostValueGain / (Loss) CostValueGain / (Loss)
U.S. Treasury securities$ 101 $ 102 $ 1 $ 102 $ 100 $ (2)
Obligations of the U.S. Government and agencies 90,927 91,639 712 66,881 66,762 (119)
State & political subdivisions - tax-free 43,235 43,388 153 28,955 29,045 90
State & political subdivisions - taxable 740 742 2 - - -
Mortgage-backed securities 152,918 155,509 2,591 79,498 81,382 1,884
Collateralized mortgage obligations 32,614 32,953 339 34,618 34,797 179
Other debt securities 1,900 1,896 (4) 1,900 1,900 -
Bond mutual funds 11,956 11,798 (158) 11,956 11,835 (121)
Other investments 3,587 3,394 (193) 3,643 3,756 113
Total investment portfolio available for sale$ 337,978 $ 341,421 $ 3,443 $ 227,553 $ 229,577 $ 2,024
Capital Ratios
Regulatory Minimum
To BeSeptember 30,June 30,March 31,December 31,September 30,
Bryn Mawr Trust CompanyWell Capitalized 2015 2015 2015 2014 2014
Tier I capital to risk weighted assets ("RWA") 8.00% 12.26% 12.26% 12.38% 11.32% 11.60%
Total (Tier II) capital to RWA 10.00% 12.96% 12.93% 13.05% 12.19% 12.54%
Tier I leverage ratio 5.00% 9.75% 9.77% 9.52% 8.98% 9.39%
Tangible equity ratioN/A 8.84% 8.54% 8.42% 8.19% 9.21%
Common equity Tier I capital to RWA 4.50% 12.26% 12.26% 12.38%N/AN/A
Bryn Mawr Bank Corporation
Tier I capital to RWA 8.00% 11.85% 12.77% 12.63% 12.00% 12.05%
Total (Tier II) capital to RWA 10.00% 13.84% 13.44% 13.30% 12.87% 12.99%
Tier I leverage ratio 5.00% 9.44% 10.20% 9.77% 9.43% 9.77%
Tangible equity ratioN/A 8.45% 8.88% 8.87% 8.61% 9.58%
Common equity Tier I capital to RWA 4.50% 11.85% 12.77% 12.63%N/AN/A

Frank Leto, President, CEO 610-581-4730 Mike Harrington, CFO 610-526-2466

Source:Bryn Mawr Bank Corporation