Bryn Mawr Trust Completes Delaware Bank Purchase

Posted by Orb Staff on November 19, 2012 No Comments
Categories : Residential Mortgage

12768_dollar_circle Bryn Mawr Trust Completes Delaware Bank Purchase Bryn Mawr Bank Corp., parent company of The Bryn Mawr Trust Co., has announced the completion of its acquisition of First Bank of Delaware. The acquisition increases The Bryn Mawr Trust Co.'s loans and deposits by approximately $80 million and $70 million, respectively.

‘We look forward to welcoming our new customers and staff members,’ says Ted Peters, chairman and CEO of the Bryn Mawr, Pa.-based financial institution. ‘This acquisition allows us to open our first full-service branch in Delaware, with a critical mass of loans and deposits on day one. Over the last few years, we have been investing in strategic opportunities in the state of Delaware, including the formation of The Bryn Mawr Trust Co. of Delaware and the acquisition of Lau Associates LLC. We intend to look for other quality growth opportunities that will return value to our shareholders.’

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