BRYN MAWR, Pa., July 24, 2014 (GLOBE NEWSWIRE) -- Bryn Mawr Bank Corporation (Nasdaq:BMTC), (the "Corporation"), parent of The Bryn Mawr Trust Company (the "Bank"), today reported net income of $7.6 million and diluted earnings per share of $0.55 for the three months ended June 30, 2014, as compared to net income of $6.3 million and diluted earnings per share of $0.46 for the same period in 2013. Net income for the three months ended June 30, 2014 included pre-tax due diligence and merger-related expenses of $377 thousand as compared to $688 thousand for the same period in 2013.
Significant factors contributing to the record results for the three months ended June 30, 2014, as compared to the same period in 2013, included increases in net interest income and wealth management revenues, bolstered by a decrease in provision for loan and lease losses between periods. These improvements were partially offset by a decrease in the gain on sale of residential mortgage loans.
"We are delighted to see the continued quarter-over-quarter increase in earnings," said Ted Peters, Chairman and Chief Executive Officer, adding that, "The excellent health of our loan portfolio and continued growth of our wealth division are encouraging signs as we head into the second half of 2014."
The pending merger with Continental Bank Holdings, Inc. ("CBH") is progressing as planned, and remains subject to approval by CBH's and the Corporation's shareholders, and applicable regulators. Frank Leto, President and Chief Operating Officer commented, "As the CBH merger moves closer to completion, we are very excited to join forces with their staff and to expand the Bank's footprint to serve a much broader segment of the surrounding communities."
As an indication of its confidence in the Corporation's business plan and the plan's execution, on July 24, 2014, the Board of Directors of the Corporation declared a quarterly dividend of $0.19 per share, an increase of 5.6% from the previous quarter, payable September 1, 2014 to shareholders of record as of August 5, 2014.
SIGNIFICANT ITEMS OF NOTE
Results of Operations – 2nd Quarter 2014 Compared to 2nd Quarter 2013
-
Net income of $7.6 million for the three months ended June 30, 2014 increased $1.4 million, or 21.6%, from $6.3 million for the same period in 2013.
-
Net interest income for the three months ended June 30, 2014 was $19.4 million, an increase of $1.5 million, or 8.5%, from $17.9 million for the same period in 2013. The increase in net interest income between the periods was largely the result of a $172.3 million, or 12.1%, increase in average loans from June 30, 2013 to June 30, 2014. Segments of the loan portfolio experiencing the most significant increases included commercial mortgage, commercial and industrial, construction and residential mortgage loans. Partially offsetting this loan growth was a decrease in average available for sale investment securities of $53.9 million from June 30, 2013 to June 30, 2014, as cash flows from the investment portfolio were utilized to originate loans. In addition to the decrease in the investment portfolio, average long-term borrowings increased by $72.4, or 48.1% from June 30, 2013 to June 30, 2014, as loan demand necessitated this increase in borrowed funds.
-
The tax-equivalent net interest margin of 4.03% for the three months ended June 30, 2014 was a 5 basis point increase from 3.98% for the same period in 2013. The increase was the result of a $130.6 million increase in average interest-earning assets whose tax-equivalent yield increased by 7 basis points, partially offset by a $82.3 million increase in average interest-bearing liabilities whose tax-equivalent rate paid increased by 3 basis points between the periods. The 7 basis point increase in the tax-equivalent yield on interest-earning assets was primarily the result of the redeployment of funds generated from pay-downs, sales and maturities of available for sale investment securities to originate loans earning substantially higher yields than the investments.
-
Non-interest income for the three months ended June 30, 2014 decreased $186 thousand as compared to the same period in 2013. The primary cause for this decline was a $955 thousand, or 64.0%, decrease in the gain on sale of residential mortgage loans. During the three months ended June 30, 2014, the volume of residential mortgage loans sold to the secondary market was significantly lower than the volume sold during the same period in 2013, with residential mortgages sold totaling $15.2 million, as compared to $46.6 million during the same period in 2013, a 67.5% decrease. Although mortgage loan sales during the second quarter of 2014 declined from the levels experienced in the second quarter of 2013, they did increase by 64.0% from the first quarter of 2014. Partially offsetting this decrease in non-interest income was a $405 thousand increase in revenue from wealth management services for the three months ended June 30, 2014 as compared to the same period in 2013. Wealth Management Division assets under management, administration, supervision and brokerage as of June 30, 2014 were $7.6 billion, an increase of $715 million, or 10.4%, from June 30, 2013. This increase was driven by organic growth due to the success of the division's strategic initiatives, market appreciation and other new business between the dates.
-
Non-interest expense for the three months ended June 30, 2014 increased $102 thousand, to $20.6 million, as compared to $20.5 million for the same period in 2013. Several offsetting increases and decreases contributed to this small increase. Increases of $608 thousand in salaries resulted from the establishment of two senior management level positions, in addition to the payment of severance benefits and annual salary increases. In addition, professional fees increased by $250 thousand during the three months ended June 30, 2014, as compared to the same period in 2013, as the Corporation has engaged several new consultants in connection with ongoing infrastructure enhancement projects. Substantially offsetting these noninterest expense increases was a $311 thousand decrease in due diligence and merger-related expenses primarily related to the merger with MidCoast Community Bancorp, which was terminated in August, 2013. Also, employee benefits expense experienced a $402 thousand decrease, as better-than-expected returns on pension assets in 2013 along with an increase in the discount rate used to calculate periodic pension costs helped reduce costs associated with the Corporation's retirement plans.
- For the three months ended June 30, 2014, the Corporation released $100 thousand from its allowance for loan and lease losses (the "Allowance"), as compared to a $1.0 million provision for loan and lease losses (the "Provision") for the same period in 2013. Lower net charge-offs, reductions in nonperforming loans, upgrades of internally-assigned risk ratings of the Corporation's loan portfolio as well as improvements to certain qualitative factors considered in the calculation of the Allowance contributed to this significant decrease in the Provision.
Results of Operations – 2nd Quarter 2014 Compared to the 1st Quarter 2014
-
Net income of $7.6 million for the three months ended June 30, 2014 increased $915 thousand, or 13.7%, from $6.7 million for the three months ended March 31, 2014.
-
Net interest income for the three months ended June 30, 2014 was $19.4 million, an increase of $719 thousand, or 3.8%, from $18.7 million for the three months ended March 31, 2014. The $44.0 million increase in average interest-earning assets, whose tax-equivalent yield increased by 2 basis points, was partially offset by a $39.2 million increase in average interest-bearing liabilities, whose tax-equivalent rate remained unchanged between the periods.
-
The tax-equivalent net interest margin of 4.03% for the three months ended June 30, 2014 was a 1 basis point increase from 4.02% for the three months ended March 31, 2014. The slight increase between periods resulted as a $44.0 million increase in average interest-earning assets was substantially offset by a $39.2 million increase in average interest-bearing liabilities. Although the increase in average interest-bearing liabilities nearly offset the increase in average interest-earning assets, the tax-equivalent yield earned on interest-earning assets increased by 2 basis points, while the tax-equivalent rate paid on interest-bearing liabilities remained unchanged.
-
Non-interest income for the three months ended June 30, 2014 increased $1.6 million as compared to the three months ended March 31, 2014. Significant factors contributing to this increase included a $586 thousand increase in wealth management revenues, a $213 thousand increase in gain on sale of residential mortgages, a $220 thousand increase in gain on sale of other real estate owned ("OREO"), and a $480 thousand increase in other operating income. Increases in wealth management revenues were partially related to tax work performed during the federal tax filing period along with market appreciation and new business within the division. The gain on sale of residential mortgage loans improved as loan sales increased by 64.0% on a linked-quarter basis. Four OREO properties were sold during the quarter, which resulted in a $220 thousand gain, while no sales were completed during the first quarter of 2014. Other operating income increased as a result of the receipt of dividends on Federal Reserve and FHLB capital stock, gains on trading securities and income from other investments.
-
Non-interest expense for the three months ended June 30, 2014 increased $1.7 million, to $20.6 million, as compared to $18.9 million for the three months ended March 31, 2014. The increase between the periods was largely related to increases of $1.1 million in salaries and employee benefits and $321 thousand in professional fees. The increase in salaries and employee benefits was related to higher levels of variable, incentive-based compensation and bonus accruals during the second quarter of 2014 as compared to the first quarter of 2014. In addition, staffing increases made in connection with the ongoing infrastructure enhancement projects and severance compensation contributed to the increase. The increase in professional fees was also related to the infrastructure improvements which are underway in several areas of the Bank.
- Nonperforming loans and leases of $8.4 million as of June 30, 2014 were 0.52% of total portfolio loans and leases, as compared $10.2 million, or 0.65% of total portfolio loans and leases as of March 31, 2014. This decrease resulted as the Corporation recorded $1.5 million in payoffs and returns to performing status of previously nonperforming loans, partially offset by $545 thousand in loans that became nonperforming between March 31, 2014 and June 30, 2014. In addition, the Corporation added one residential property and one parcel of land with an aggregate value of $685 thousand to OREO, as a result of the foreclosure of nonperforming loans. For the three months ended June 30, 2014, the Corporation recorded net loan and lease charge-offs of $200 thousand, as compared to $495 thousand for the three months ended March 31, 2014. As a result of lower net charge-offs, reductions in nonperforming loans, upgrades of internally-assigned risk ratings of the Corporation's loan portfolio as well as overall improvements to certain qualitative factors considered in calculating the Allowance, the Corporation released $100 thousand of Allowance during the three months ended June 30, 2014, as compared to a $750 thousand Provision for the three months ended March 31, 2014.
Financial Condition – June 30, 2014 Compared to December 31, 2013
-
Total portfolio loans and leases of $1.62 billion as of June 30, 2014 increased by $68.4 million, or 4.4%, from December 31, 2013, with commercial mortgages, commercial and industrial, and construction loans accounting for a majority of the increase.
-
The allowance for loan and lease losses as of June 30, 2014 was $15.5 million, or 0.96%, of portfolio loans as compared to $15.5 million, or 1.00% of portfolio loans and leases, as of December 31, 2013. As discussed above, several factors contributed to this decrease as a percentage of portfolio loans, including lower net charge-offs, reductions in nonperforming loans, upgrades of internally-assigned risk ratings of the Corporation's loan portfolio and improvements to certain qualitative factors management considers in calculating the Allowance.
-
Total assets as of June 30, 2014 were $2.13 billion, an increase of $69.6 million from December 31, 2013. Loan originations accounted for substantially all of this increase, with funding derived from increased deposits and borrowings, as well as cash inflows from the sales, pay-downs and maturities of available for sale investment securities.
-
Deposits of $1.62 billion, as of June 30, 2014, increased $28.6 million from December 31, 2013. The increase was comprised of a $24.8 million increase in savings and money market accounts, a $14.4 million increase in wholesale deposits and a $10.1 million increase in non-interest-bearing deposits. These increases were partially offset by a $17.2 million decrease in time deposits between the dates.
- The capital ratios for the Bank and the Corporation, as shown in the table below, indicate levels well above the regulatory minimum to be considered "well capitalized." The tangible equity ratios for both the Bank and the Corporation have improved from their December 31, 2013 levels of 8.78% and 8.92%, to 9.18% and 9.32%, respectively, at June 30, 2014. These increases were primarily related to an increase in retained earnings, along with increases in unrealized gains on available for sale investment securities between the dates.
EARNINGS CONFERENCE CALL
The Corporation will hold an earnings conference call at 8:30 AM EDT on Friday, July 25, 2014. Interested parties may participate by calling 1-877-504-8812. A taped replay of the conference call will be available one hour after the conclusion of the call and will remain available through 9:00 AM EDT on Monday, August 11, 2014. A recording of the earnings conference call may be obtained by calling 1-877-344-7529, referring to conference number 10048017.
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/bmtc140725.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, 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 well as any changes in risk factors that we may identify in 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, | Sepember 30, | June 30, | |
| 2014 | 2014 | 2013 | 2013 | 2013 | |
| Interest income | $ 20,941 | $ 20,161 | $ 20,525 | $ 19,820 | $ 19,217 |
| Interest expense | 1,499 | 1,438 | 1,400 | 1,287 | 1,294 |
| Net interest income | 19,442 | 18,723 | 19,125 | 18,533 | 17,923 |
| Provision for loan and lease losses | (100) | 750 | 812 | 959 | 1,000 |
| Net interest income after provision for loan and lease losses | 19,542 | 17,973 | 18,313 | 17,574 | 16,923 |
| Fees for wealth management services | 9,499 | 8,913 | 9,106 | 8,635 | 9,094 |
| Loan servicing and other fees | 428 | 446 | 465 | 481 | 448 |
| Service charges on deposits | 656 | 601 | 638 | 627 | 596 |
| Net gain on sale of residential mortgage loans | 537 | 324 | 529 | 578 | 1,492 |
| Net gain (loss) on sale of investment securities available for sale | 85 | (4) | (10) | -- | -- |
| Net gain (loss) on sale of other real estate owned | 220 | -- | (106) | (1) | (141) |
| Bank owned life insurance income | 74 | 81 | 88 | 72 | 85 |
| Other operating income | 1,258 | 778 | 1,525 | 995 | 1,369 |
| Non-interest income | 12,757 | 11,139 | 12,235 | 11,387 | 12,943 |
| Salaries and wages | 9,694 | 8,440 | 9,438 | 9,012 | 9,086 |
| Employee benefits | 1,809 | 1,979 | 2,399 | 1,896 | 2,212 |
| Net gain on curtailment of nonqualified pension plan | -- | -- | -- | -- | (120) |
| Occupancy and bank premises | 1,683 | 1,933 | 1,738 | 1,646 | 1,728 |
| Furniture fixtures and equipment | 1,089 | 983 | 1,017 | 920 | 1,221 |
| Advertising | 455 | 339 | 431 | 303 | 380 |
| Net (recovery) impairment of mortgage servicing rights | (3) | (8) | (10) | 33 | (91) |
| Amortization of mortgage servicing rights | 128 | 115 | 123 | 187 | 218 |
| Amortization of intangible assets | 636 | 637 | 655 | 657 | 660 |
| FDIC insurance | 242 | 271 | 259 | 271 | 275 |
| Due diligence and merger-related expenses | 377 | 264 | 155 | 328 | 688 |
| Professional fees | 914 | 593 | 581 | 636 | 664 |
| Pennsylvania bank shares tax | 412 | 368 | 274 | 139 | 366 |
| Other operating expenses | 3,190 | 2,985 | 3,598 | 3,295 | 3,237 |
| Non-interest expense | 20,626 | 18,899 | 20,658 | 19,323 | 20,524 |
| Income before income taxes | 11,673 | 10,213 | 9,890 | 9,638 | 9,342 |
| Income tax expense | 4,069 | 3,524 | 3,419 | 3,237 | 3,090 |
| Net income | $ 7,604 | $ 6,689 | $ 6,471 | $ 6,401 | $ 6,252 |
| Per share data: | |||||
| Weighted average shares outstanding | 13,531,170 | 13,485,213 | 13,419,269 | 13,336,799 | 13,280,624 |
| Dilutive common shares | 304,998 | 304,828 | 308,674 | 275,343 | 227,150 |
| Adjusted weighted average dilutive shares | 13,836,168 | 13,790,041 | 13,727,943 | 13,612,142 | 13,507,774 |
| Basic earnings per common share | $0.56 | $0.50 | $0.48 | $0.48 | $0.47 |
| Diluted earnings per common share | $0.55 | $0.49 | $0.47 | $0.47 | $0.46 |
| Dividend declared per share | $0.18 | $0.18 | $0.18 | $0.17 | $0.17 |
| Effective tax rate | 34.9% | 34.5% | 34.6% | 33.6% | 33.1% |
| Bryn Mawr Bank Corporation | ||
| Consolidated Statements of Income - (unaudited) | ||
| (dollars in thousands, except per share data) | ||
| For The Six Months Ended June 30, | ||
| 2014 | 2013 | |
| Interest income | $ 41,102 | $ 38,072 |
| Interest expense | 2,937 | 2,740 |
| Net interest income | 38,165 | 35,332 |
| Provision for loan and lease losses | 650 | 1,804 |
| Net interest income after provision for loan and lease losses | 37,515 | 33,528 |
| Fees for wealth management services | 18,412 | 17,443 |
| Loan servicing and other fees | 874 | 899 |
| Service charges on deposits | 1,257 | 1,180 |
| Net gain on sale of residential mortgage loans | 861 | 3,010 |
| Net gain on sale of investment securities available for sale | 81 | 2 |
| Net gain (loss) on sale of other real estate owned | 220 | (193) |
| Bank owned life insurance income | 155 | 198 |
| Other operating income | 2,036 | 2,194 |
| Non-interest income | 23,896 | 24,733 |
| Salaries and wages | 18,134 | 17,896 |
| Employee benefits | 3,788 | 4,537 |
| Net gain on curtailment of nonqualified pension plan | -- | (690) |
| Occupancy and bank premises | 3,616 | 3,478 |
| Furniture fixtures and equipment | 2,072 | 2,040 |
| Advertising | 794 | 792 |
| Net recovery of mortgage servicing rights | (11) | (20) |
| Amortization of mortgage servicing rights | 243 | 430 |
| Amortization of intangible assets | 1,273 | 1,321 |
| FDIC insurance | 513 | 533 |
| Due diligence and merger-related expenses | 641 | 1,402 |
| Professional fees | 1,507 | 1,239 |
| Early extinguishment of debt - costs and premiums | -- | 347 |
| Pennsylvania bank shares tax | 780 | 730 |
| Other operating expenses | 6,175 | 6,724 |
| Non-interest expense | 39,525 | 40,759 |
| Income before income taxes | 21,886 | 17,502 |
| Income tax expense | 7,593 | 5,930 |
| Net income | $ 14,293 | $ 11,572 |
| Per share data: | ||
| Weighted average shares outstanding | 13,508,319 | 13,243,289 |
| Dilutive common shares | 304,913 | 228,782 |
| Adjusted weighted average shares | 13,813,232 | 13,472,071 |
| Basic earnings per common share | $1.06 | $0.87 |
| Diluted earnings per common share | $1.03 | $0.86 |
| Dividend declared per share | $0.36 | $0.34 |
| Effective tax rate | 34.7% | 33.9% |
| Bryn Mawr Bank Corporation | |||||
| Consolidated Balance Sheets - (unaudited) | |||||
| (dollars in thousands) | |||||
| June 30, | March 31, | December 31, | September 30, | June 30, | |
| 2014 | 2014 | 2013 | 2013 | 2013 | |
| Assets | |||||
| Interest-bearing deposits with banks | $ 85,946 | $ 59,248 | $ 67,618 | $ 71,203 | $ 95,903 |
| Investment securities - available for sale | 266,402 | 272,599 | 285,808 | 319,917 | 322,961 |
| Investment securities - trading | 3,597 | 3,517 | 3,437 | 2,357 | 2,180 |
| Loans held for sale | 1,631 | 1,340 | 1,350 | 1,284 | 2,207 |
| Portfolio loans: | |||||
| Consumer | 18,907 | 18,104 | 16,926 | 17,572 | 18,404 |
| Commercial & industrial | 334,474 | 334,295 | 328,459 | 303,259 | 296,073 |
| Commercial mortgages | 666,924 | 640,574 | 625,341 | 622,771 | 587,261 |
| Construction | 55,051 | 44,060 | 46,369 | 39,055 | 28,718 |
| Residential mortgages | 310,491 | 301,532 | 300,243 | 291,645 | 280,687 |
| Home equity lines & loans | 185,593 | 186,277 | 189,571 | 187,634 | 183,006 |
| Leases | 44,102 | 40,988 | 40,276 | 38,079 | 36,770 |
| Total portfolio loans and leases | 1,615,542 | 1,565,830 | 1,547,185 | 1,500,015 | 1,430,919 |
| Earning assets | 1,973,118 | 1,902,534 | 1,905,398 | 1,894,776 | 1,854,170 |
| Cash and due from banks | 17,018 | 14,696 | 13,453 | 24,958 | 14,208 |
| Allowance for loan and lease losses | (15,470) | (15,770) | (15,515) | (15,027) | (14,444) |
| Premises and equipment | 32,679 | 32,473 | 31,796 | 31,436 | 30,947 |
| Accrued interest receivable | 5,526 | 5,687 | 5,728 | 5,703 | 6,097 |
| Mortgage servicing rights | 4,760 | 4,734 | 4,750 | 4,744 | 4,790 |
| Goodwill | 32,843 | 32,843 | 32,843 | 32,843 | 32,843 |
| Other intangible assets | 18,092 | 18,728 | 19,365 | 20,020 | 20,677 |
| Bank owned life insurance | 20,375 | 20,301 | 20,220 | 20,132 | 20,060 |
| FHLB stock | 12,775 | 11,911 | 11,654 | 12,590 | 13,028 |
| Deferred income taxes | 5,984 | 7,517 | 8,690 | 11,955 | 11,788 |
| Other investments | 4,507 | 4,392 | 4,437 | 4,337 | 4,378 |
| Other assets | 19,018 | 19,770 | 18,846 | 10,506 | 10,980 |
| Total assets | $ 2,131,225 | $ 2,059,816 | $ 2,061,665 | $ 2,058,973 | $ 2,009,522 |
| Liabilities and shareholders' equity | |||||
| Interest-bearing deposits: | |||||
| Interest-bearing checking | $ 263,247 | $ 269,409 | $ 266,787 | $ 244,826 | $ 262,316 |
| Money market | 559,070 | 556,076 | 544,310 | 548,011 | 551,750 |
| Savings | 145,312 | 141,979 | 135,240 | 137,431 | 136,307 |
| Wholesale non-maturity deposits | 41,840 | 42,704 | 42,937 | 57,195 | 30,315 |
| Wholesale time deposits | 50,152 | 34,104 | 34,639 | 23,127 | 12,139 |
| Time deposits | 123,572 | 130,983 | 140,794 | 145,119 | 161,146 |
| Total interest-bearing deposits | 1,183,193 | 1,175,255 | 1,164,707 | 1,155,709 | 1,153,973 |
| Non-interest-bearing deposits | 436,739 | 404,340 | 426,640 | 394,947 | 395,742 |
| Total deposits | 1,619,932 | 1,579,595 | 1,591,347 | 1,550,656 | 1,549,715 |
| Long-term FHLB advances and other borrowings | 233,132 | 214,640 | 205,644 | 191,645 | 152,642 |
| Short-term borrowings | 13,320 | 10,739 | 10,891 | 75,588 | 71,768 |
| Other liabilities | 21,470 | 19,365 | 23,885 | 23,323 | 22,929 |
| Shareholders' equity | 243,371 | 235,477 | 229,898 | 217,761 | 212,468 |
| Total liabilities and shareholders' equity | $ 2,131,225 | $ 2,059,816 | $ 2,061,665 | $ 2,058,973 | $ 2,009,522 |
| 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, | |
| 2014 | 2014 | 2013 | 2013 | 2013 | |
| Assets | |||||
| Interest-bearing deposits with banks | $ 70,775 | $ 67,809 | $ 56,569 | $ 35,589 | $ 59,981 |
| Investment securities - available for sale | 271,830 | 281,572 | 310,183 | 324,418 | 325,729 |
| Investment securities - trading | 3,518 | 3,438 | 2,368 | 2,182 | 2,168 |
| Loans held for sale | 1,280 | 504 | 1,197 | 867 | 2,233 |
| Portfolio loans and leases | 1,599,104 | 1,549,161 | 1,522,408 | 1,463,492 | 1,425,836 |
| Earning assets | 1,946,507 | 1,902,484 | 1,892,725 | 1,826,548 | 1,815,947 |
| Cash and due from banks | 12,067 | 12,302 | 13,132 | 12,497 | 12,876 |
| Allowance for loan and lease losses | (16,073) | (15,761) | (15,226) | (14,653) | (14,625) |
| Premises and equipment | 32,829 | 32,358 | 31,770 | 31,216 | 31,254 |
| Goodwill | 32,843 | 32,843 | 32,843 | 32,843 | 32,896 |
| Other intangible assets | 18,459 | 19,095 | 19,741 | 20,400 | 21,055 |
| Bank owned life insurance | 20,327 | 20,252 | 20,163 | 20,086 | 20,005 |
| FHLB stock | 12,663 | 11,915 | 12,242 | 12,809 | 10,430 |
| Deferred income taxes | 7,119 | 7,908 | 11,733 | 11,946 | 10,997 |
| Other assets | 29,750 | 29,940 | 22,288 | 21,904 | 25,296 |
| Total assets | $ 2,096,491 | $ 2,053,336 | $ 2,041,411 | $ 1,975,596 | $ 1,966,131 |
| Liabilities and shareholders' equity | |||||
| Interest-bearing deposits: | |||||
| Interest-bearing checking | $ 264,087 | $ 263,612 | $ 248,722 | $ 249,982 | $ 263,842 |
| Money market | 556,241 | 545,108 | 548,351 | 559,911 | 571,327 |
| Savings | 143,418 | 137,812 | 137,327 | 135,070 | 134,485 |
| Wholesale non-maturity deposits | 42,970 | 41,828 | 48,465 | 47,804 | 31,124 |
| Wholesale time deposits | 48,791 | 35,133 | 22,735 | 10,911 | 11,610 |
| Time deposits | 127,167 | 134,574 | 142,258 | 152,788 | 164,247 |
| Total interest-bearing deposits | 1,182,674 | 1,158,067 | 1,147,858 | 1,156,466 | 1,176,635 |
| Non-interest bearing deposits | 416,104 | 415,514 | 420,072 | 402,292 | 391,387 |
| Total deposits | 1,598,778 | 1,573,581 | 1,567,930 | 1,558,758 | 1,568,022 |
| Long-term FHLB advances and other borrowings | 222,851 | 212,405 | 204,780 | 163,818 | 150,468 |
| Short-term borrowings | 17,220 | 13,090 | 25,364 | 14,995 | 13,358 |
| Other liabilities | 19,368 | 22,546 | 23,401 | 24,904 | 23,617 |
| Shareholders' equity | 238,274 | 231,714 | 219,936 | 213,121 | 210,666 |
| Total liabilities and shareholders' equity | $ 2,096,491 | $ 2,053,336 | $ 2,041,411 | $ 1,975,596 | $ 1,966,131 |
| Bryn Mawr Bank Corporation | ||
| Consolidated Year-to-Date Average Balance Sheets - (unaudited) | ||
| (dollars in thousands) | ||
| For The Six Months Ended June 30, | ||
| 2014 | 2013 | |
| Assets | ||
| Interest bearing deposits with banks | $ 69,300 | $ 88,518 |
| Investment securities - available for sale | 276,674 | 324,495 |
| Investment securities - trading | 3,478 | 1,933 |
| Loans held for sale | 894 | 2,438 |
| Portfolio loans and leases | 1,574,271 | 1,413,506 |
| Earning assets | 1,924,617 | 1,830,890 |
| Cash and due from banks | 12,184 | 13,080 |
| Allowance for loan and lease losses | (15,918) | (14,659) |
| Premises and equipment | 32,595 | 31,334 |
| Goodwill | 32,843 | 32,897 |
| Intangible assets | 18,775 | 21,388 |
| Bank owned life insurance | 20,289 | 19,955 |
| FHLB stock | 12,343 | 10,448 |
| Deferred income taxes | 7,511 | 11,586 |
| Other assets | 29,794 | 23,345 |
| Total assets | $ 2,075,033 | $ 1,980,264 |
| Liabilities and shareholders' equity | ||
| Interest-bearing deposits: | ||
| Interest-bearing checking | $ 263,851 | $ 265,363 |
| Money market | 550,705 | 573,860 |
| Savings | 140,630 | 133,321 |
| Wholesale non-maturity deposits | 42,402 | 34,882 |
| Wholesale time deposits | 42,000 | 11,553 |
| Time deposits | 130,850 | 177,518 |
| Total interest-bearing deposits | 1,170,438 | 1,196,497 |
| Non-interest-bearing deposits | 415,810 | 389,146 |
| Total deposits | 1,586,248 | 1,585,643 |
| Long-term FHLB advances and other borrowings | 217,657 | 151,120 |
| Short-term borrowings | 15,167 | 11,125 |
| Other liabilities | 20,948 | 24,878 |
| Shareholders' equity | 235,013 | 207,498 |
| Total liabilities and shareholders' equity | $ 2,075,033 | $ 1,980,264 |
| Bryn Mawr Bank Corporation | |||||||||||||||
| Quarterly Average Balances and Tax-Equivalent Interest Income and Expense and Tax-Equivalent Yields - (unaudited) | |||||||||||||||
| For The Three Months Ended | |||||||||||||||
| June 30, 2014 | March 31, 2014 | December 31, 2013 | September 30, 2013 | June 30, 2013 | |||||||||||
| (dollars in thousands) |
Average Balance |
Interest Income/ Expense |
Average Rates Earned/ Paid |
Average Balance |
Interest Income/ Expense |
Average Rates Earned/ Paid |
Average Balance |
Interest Income/ Expense |
Average Rates Earned/ Paid |
Average Balance |
Interest Income/ Expense |
Average Rates Earned/ Paid |
Average Balance |
Interest Income/ Expense |
Average Rates Earned/ Paid |
| Assets: | |||||||||||||||
| Interest-bearing deposits with other banks | $ 70,775 | $ 44 | 0.25% | $ 67,809 | $ 37 | 0.22% | $ 56,569 | $ 27 | 0.19% | $ 35,589 | $ 21 | 0.23% | $ 59,981 | $ 41 | 0.27% |
| Investment securities - available for sale: | |||||||||||||||
| Taxable | 235,853 | 903 | 1.54% | 245,006 | 972 | 1.61% | 271,152 | 1,127 | 1.65% | 284,558 | 988 | 1.38% | 287,287 | 846 | 1.18% |
| Tax-exempt | 35,977 | 151 | 1.68% | 36,566 | 153 | 1.70% | 39,031 | 159 | 1.62% | 39,860 | 159 | 1.58% | 38,442 | 146 | 1.52% |
| Total investment securities - available for sale | 271,830 | 1,054 | 1.56% | 281,572 | 1,125 | 1.62% | 310,183 | 1,286 | 1.64% | 324,418 | 1,147 | 1.40% | 325,729 | 992 | 1.22% |
| Investment securities - trading | 3,518 | 17 | 1.94% | 3,438 | 7 | 0.83% | 2,368 | 51 | 8.54% | 2,182 | 7 | 1.27% | 2,168 | 13 | 2.41% |
| Loans and leases * | 1,600,384 | 19,936 | 5.00% | 1,549,665 | 19,107 | 5.00% | 1,523,605 | 19,277 | 5.02% | 1,464,359 | 18,755 | 5.08% | 1,428,069 | 18,277 | 5.13% |
| Total interest-earning assets | 1,946,507 | 21,051 | 4.34% | 1,902,484 | 20,276 | 4.32% | 1,892,725 | 20,641 | 4.33% | 1,826,548 | 19,930 | 4.33% | 1,815,947 | 19,323 | 4.27% |
| Cash and due from banks | 12,067 | 12,302 | 13,132 | 12,497 | 12,876 | ||||||||||
| Less allowance for loan and lease losses | (16,073) | (15,761) | (15,226) | (14,653) | (14,625) | ||||||||||
| Other assets | 153,990 | 154,311 | 150,780 | 151,204 | 151,933 | ||||||||||
| Total assets | $ 2,096,491 | $ 2,053,336 | $ 2,041,411 | $ 1,975,596 | $ 1,966,131 | ||||||||||
| Liabilities: | |||||||||||||||
| Interest-bearing deposits: | |||||||||||||||
| Savings, NOW and market rate deposits | $ 963,746 | $ 420 | 0.17% | $ 946,532 | $ 405 | 0.17% | $ 934,400 | $ 414 | 0.18% | $ 944,963 | $ 419 | 0.18% | $ 969,654 | $ 445 | 0.18% |
| Wholesale deposits | 91,761 | 147 | 0.64% | 76,961 | 114 | 0.60% | 71,200 | 85 | 0.47% | 58,715 | 55 | 0.37% | 42,734 | 44 | 0.41% |
| Time deposits | 127,167 | 146 | 0.46% | 134,574 | 170 | 0.51% | 142,258 | 151 | 0.42% | 152,788 | 165 | 0.43% | 164,247 | 205 | 0.50% |
| Total interest-bearing deposits | 1,182,674 | 713 | 0.24% | 1,158,067 | 689 | 0.24% | 1,147,858 | 650 | 0.22% | 1,156,466 | 639 | 0.22% | 1,176,635 | 694 | 0.24% |
| Borrowings: | |||||||||||||||
| Short-term borrowings | 17,220 | 5 | 0.12% | 13,090 | 3 | 0.09% | 25,364 | 12 | 0.19% | 14,995 | 5 | 0.13% | 13,358 | 4 | 0.12% |
| Long-term FHLB advances and other borrowings | 222,851 | 781 | 1.41% | 212,405 | 746 | 1.42% | 204,780 | 738 | 1.43% | 163,818 | 643 | 1.56% | 150,468 | 596 | 1.59% |
| Total borrowings | 240,071 | 786 | 1.31% | 225,495 | 749 | 1.35% | 230,144 | 750 | 1.29% | 178,813 | 648 | 1.44% | 163,826 | 600 | 1.47% |
| Total interest-bearing liabilities | 1,422,745 | 1,499 | 0.42% | 1,383,562 | 1,438 | 0.42% | 1,378,002 | 1,400 | 0.40% | 1,335,279 | 1,287 | 0.38% | 1,340,461 | 1,294 | 0.39% |
| Noninterest-bearing deposits | 416,104 | 415,514 | 420,072 | 402,292 | 391,387 | ||||||||||
| Other liabilities | 19,368 | 22,546 | 23,401 | 24,904 | 23,617 | ||||||||||
| Total noninterest-bearing liabilities | 435,472 | 438,060 | 443,473 | 427,196 | 415,004 | ||||||||||
| Total liabilities | 1,858,217 | 1,821,622 | 1,821,475 | 1,762,475 | 1,755,465 | ||||||||||
| Shareholders' equity | 238,274 | 231,714 | 219,936 | 213,121 | 210,666 | ||||||||||
| Total liabilities and shareholders' equity | $ 2,096,491 | $ 2,053,336 | $ 2,041,411 | $ 1,975,596 | $ 1,966,131 | ||||||||||
| Interest income to earning assets | 4.34% | 4.32% | 4.33% | 4.33% | 4.27% | ||||||||||
| Net interest spread | 3.92% | 3.90% | 3.93% | 3.95% | 3.88% | ||||||||||
| Effect of noninterest-bearing sources | 0.11% | 0.12% | 0.10% | 0.10% | 0.10% | ||||||||||
| Tax-equivalent net interest income/ margin on earning assets | $ 19,552 | 4.03% | $ 18,838 | 4.02% | $ 19,241 | 4.03% | $ 18,643 | 4.05% | $ 18,029 | 3.98% | |||||
| Tax-equivalent adjustment | $ 110 | 0.02% | $ 115 | 0.02% | $ 116 | 0.02% | $ 110 | 0.02% | $ 106 | 0.02% | |||||
| * 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 | ||||||
| For The Six Months Ended June 30, | ||||||
| 2014 | 2013 | |||||
| (dollars in thousands) |
Average Balance |
Interest Income/ Expense |
Average Rates Earned/ Paid |
Average Balance |
Interest Income/ Expense |
Average Rates Earned/ Paid |
| Assets: | ||||||
| Interest-bearing deposits with other banks | $ 69,300 | 81 | 0.24% | $ 88,518 | 110 | 0.25% |
| Investment securities available for sale: | ||||||
| Taxable | 240,404 | 1,875 | 1.57% | 288,187 | 1,734 | 1.21% |
| Tax-exempt | 36,270 | 304 | 1.69% | 36,308 | 269 | 1.49% |
| Investment securities - available for sale | 276,674 | 2,179 | 1.59% | 324,495 | 2,003 | 1.24% |
| Investment securities - trading | 3,478 | 24 | 1.39% | 1,933 | 15 | 1.56% |
| Loans and leases * | 1,575,165 | 39,043 | 5.00% | 1,415,944 | 36,147 | 5.15% |
| Total interest earning assets | 1,924,617 | 41,327 | 4.33% | 1,830,890 | 38,275 | 4.22% |
| Cash and due from banks | 12,184 | 13,080 | ||||
| Less allowance for loan and lease losses | (15,918) | (14,659) | ||||
| Other assets | 154,150 | 150,953 | ||||
| Total assets | $2,075,033 | $1,980,264 | ||||
| Liabilities: | ||||||
| Savings, NOW and market rate deposits | $955,186 | $ 824 | 0.17% | $972,544 | $ 923 | 0.19% |
| Wholesale deposits | 84,402 | 262 | 0.63% | 46,435 | 98 | 0.43% |
| Time deposits | 130,850 | 316 | 0.49% | 177,518 | 447 | 0.51% |
| Total interest-bearing deposits | $1,170,438 | 1,402 | 0.24% | $1,196,497 | 1,468 | 0.25% |
| Short-term borrowings | 15,167 | 8 | 0.11% | 12,672 | 8 | 0.13% |
| Long-term FHLB advances and other borrowings | 217,657 | 1,527 | 1.41% | 149,573 | 1,263 | 1.70% |
| Total Borrowings | 232,824 | 1,535 | 1.33% | 162,245 | 1,271 | 1.58% |
| Total interest-bearing liabilities | 1,403,262 | 2,937 | 0.42% | 1,358,742 | 2,739 | 0.41% |
| Noninterest-bearing deposits | 415,810 | 389,146 | ||||
| Other liabilities | 20,948 | 24,878 | ||||
| Total noninterest-bearing liabilities | 436,758 | 414,024 | ||||
| Total liabilities | 1,840,020 | 1,772,766 | ||||
| Shareholders' equity | 235,013 | 207,498 | ||||
| Total liabilities and shareholders' equity | $ 2,075,033 | $ 1,980,264 | ||||
| Interest income to earning assets | 4.33% | 4.22% | ||||
| Net interest spread | 3.91% | 3.81% | ||||
| Effect of noninterest-bearing sources | 0.11% | 0.10% | ||||
| Tax-equivalent net interest income/ margin on earning assets | $ 38,390 | 4.02% | $ 35,536 | 3.91% | ||
| Tax-equivalent adjustment | $ 225 | 0.02% | $ 204 | 0.02% | ||
| * 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 | |||||
| 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, | |
| 2014 | 2014 | 2013 | 2013 | 2013 | |
| Asset Quality Data | |||||
| Nonaccrual loans and leases | $ 8,388 | $ 10,236 | $ 10,530 | $ 10,613 | $ 10,489 |
| 90 days or more past due loans, still accruing | -- | -- | -- | -- | -- |
| Nonperforming loans and leases | 8,388 | 10,236 | 10,530 | 10,613 | 10,489 |
| Other real estate owned | 853 | 1,040 | 855 | 1,253 | 1,205 |
| Total nonperforming assets | $ 9,241 | $ 11,276 | $ 11,385 | $ 11,866 | $ 11,694 |
| Troubled debt restructurings included in nonperforming assets | $ 1,597 | $ 2,698 | $ 1,699 | $ 2,628 | $ 2,869 |
| Troubled debt restructurings in compliance with modified terms | 7,487 | 6,667 | 7,277 | 8,947 | 8,157 |
| Total troubled debt restructurings | $ 9,084 | $ 9,365 | $ 8,976 | $ 11,575 | $ 11,026 |
| Nonperforming loans and leases / portfolio loans & leases | 0.52% | 0.65% | 0.68% | 0.71% | 0.73% |
| Nonperforming assets / total assets | 0.43% | 0.55% | 0.55% | 0.58% | 0.58% |
| Net loan and lease charge-offs / average loans and leases (annualized) | 0.05% | 0.13% | 0.09% | 0.10% | 0.28% |
| Delinquency rate* - Performing and nonperforming loans and leases 30 days or more past due | 0.64% | 0.59% | 0.65% | 0.68% | 0.73% |
| Performing loans and leases - 30-89 days past due | $ 3,743 | $ 1,815 | $ 1,718 | $ 1,227 | $ 2,328 |
| Delinquency rate* - Performing loans and leases - 30-89 days past due | 0.23% | 0.12% | 0.11% | 0.08% | 0.16% |
| * as a percentage of total loans and leases | |||||
| Changes in the allowance for loan and lease losses: | |||||
| Balance, beginning of period | $ 15,770 | $ 15,515 | $ 15,027 | $ 14,444 | $ 14,447 |
| Charge-offs | (304) | (538) | (484) | (501) | (1,164) |
| Recoveries | 104 | 43 | 160 | 125 | 161 |
| Net charge-offs | (200) | (495) | (324) | (376) | (1,003) |
| Provision for loan and lease losses | (100) | 750 | 812 | 959 | 1,000 |
| Balance, end of period | $ 15,470 | $ 15,770 | $ 15,515 | $ 15,027 | $ 14,444 |
| Allowance for loan and lease losses / loans and leases | 0.96% | 1.01% | 1.00% | 1.00% | 1.01% |
| Allowance for loan and lease losses / nonperforming loans and leases | 184.4% | 154.1% | 147.3% | 141.6% | 137.7% |
| For The Three Months Ended or As Of | |||||
| June 30, | March 31, | December 31, | September 30, | June 30, | |
| 2014 | 2014 | 2013 | 2013 | 2013 | |
| Selected ratios (annualized): | |||||
| Return on average assets | 1.45% | 1.32% | 1.26% | 1.29% | 1.28% |
| Return on average shareholders' equity | 12.80% | 11.71% | 11.67% | 11.92% | 11.90% |
| Return on average tangible equity (2) | 16.31% | 15.10% | 15.35% | 15.89% | 16.00% |
| Tax-equivalent yield on loans and leases | 5.00% | 5.00% | 5.02% | 5.08% | 5.13% |
| Tax-equivalent yield on interest-earning assets | 4.34% | 4.32% | 4.33% | 4.33% | 4.27% |
| Cost of interest-bearing funds | 0.42% | 0.42% | 0.40% | 0.38% | 0.39% |
| Tax-equivalent net interest margin | 4.03% | 4.02% | 4.03% | 4.05% | 3.98% |
| Book value per share | $ 17.74 | $ 17.24 | $ 16.84 | $ 16.07 | $ 15.71 |
| Tangible book value per share | $ 14.03 | $ 13.47 | $ 13.02 | $ 12.17 | $ 11.75 |
| Shares outstanding at end of period | 13,720,738 | 13,656,979 | 13,650,354 | 13,551,438 | 13,528,078 |
| Selected data: | |||||
| Mortgage loans originated | $ 39,575 | $ 17,892 | $ 37,190 | $ 40,426 | $ 55,066 |
| Residential mortgage loans sold - servicing retained | $ 15,154 | $ 9,086 | $ 12,523 | $ 17,768 | $ 46,209 |
| Residential mortgage loans sold - servicing released | -- | 152 | 531 | -- | 347 |
| Total residential mortgage loans sold | $ 15,154 | $ 9,238 | $ 13,054 | $ 17,768 | $ 46,556 |
| Yield on residential mortgage loans sold | 3.54% | 3.51% | 4.05% | 3.25% | 3.20% |
| Loans serviced for others (includes residential mortgage, commercial mortgage and commercial & industrial) | $ 622,808 | $ 618,348 | $ 628,879 | $ 627,058 | $ 623,498 |
| Total wealth assets under management, administration, supervision and brokerage (1) | $ 7,569,842 | $ 7,361,977 | $ 7,268,273 | $ 7,082,926 | $ 6,854,838 |
| (1) Brokerage assets represent assets held at a registered broker dealer under a networking agreement. | |||||
| (2) Average tangible equity equals average shareholders' equity minus average goodwill and average other intangible assets. | |||||
| Investment Portfolio - Available for Sale | As of June 30, 2014 | As of December 31, 2013 | ||||
| Net | Net | |||||
| Amortized | Fair | Unrealized | Amortized | Fair | Unrealized | |
| SECURITY DESCRIPTION | Cost | Value | Gain / (Loss) | Cost | Value | Gain / (Loss) |
| U.S. Treasury securities | $ 102 | $ 101 | $ (1) | $ 102 | $ 99 | $ (3) |
| Obligations of the U.S. Government and agencies | 63,623 | 63,337 | (286) | 71,097 | 69,568 | (1,529) |
| State & political subdivisions | 35,865 | 35,993 | 128 | 37,140 | 36,977 | (163) |
| Mortgage-backed securities | 109,045 | 111,005 | 1,960 | 119,044 | 119,363 | 319 |
| Collateralized mortgage obligations | 39,674 | 39,834 | 160 | 44,463 | 44,243 | (220) |
| Other debt securities | 1,900 | 1,900 | -- | 1,900 | 1,887 | (13) |
| Bond mutual funds | 11,956 | 12,004 | 48 | 11,456 | 11,457 | 1 |
| Other investments | 1,874 | 2,228 | 354 | 1,925 | 2,214 | 289 |
| Total investment portfolio available for sale | $ 264,039 | $ 266,402 | $ 2,363 | $ 287,127 | $ 285,808 | $ (1,319) |
| Capital Ratios | ||||||
| Regulatory Minimum | ||||||
| To Be | June 30, | March 31, | December 31, | September 30, | June 30, | |
| Bryn Mawr Trust Company | Well Capitalized | 2014 | 2014 | 2013 | 2013 | 2013 |
| Tier I capital to risk weighted assets ("RWA") | 6.00% | 11.68% | 11.65% | 11.40% | 11.36% | 11.58% |
| Total (Tier II) capital to RWA | 10.00% | 12.62% | 12.63% | 12.38% | 12.33% | 12.55% |
| Tier I leverage ratio | 5.00% | 9.51% | 9.43% | 9.14% | 9.22% | 9.07% |
| Tangible equity ratio | N/A | 9.18% | 9.18% | 8.78% | 8.32% | 8.29% |
| Bryn Mawr Bank Corporation | ||||||
| Tier I capital to RWA | 6.00% | 11.85% | 11.71% | 11.57% | 11.33% | 11.47% |
| Total (Tier II) capital to RWA | 10.00% | 12.79% | 12.69% | 12.55% | 12.30% | 12.44% |
| Tier I leverage ratio | 5.00% | 9.67% | 9.50% | 9.29% | 9.22% | 9.00% |
| Tangible equity ratio | N/A | 9.32% | 9.23% | 8.92% | 8.30% | 8.21% |