This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Bryn Mawr Bank Corporation Reports Record Fourth Quarter Earnings, Wealth Asset Growth Of 18.9% And Increases Quarterly Dividend By 7.1%

BRYN MAWR, Pa., Feb. 1, 2011 (GLOBE NEWSWIRE) -- Bryn Mawr Bank Corporation (Nasdaq:BMTC), (the "Corporation"), parent of The Bryn Mawr Trust Company (the "Bank"), today announced diluted earnings per share of $0.46 for the fourth quarter of 2010, an increase of $0.16 per share, or 53.3%, over the fourth quarter 2009 diluted earnings per share of $0.30. Net income for the fourth quarter of 2010 was $5.57 million, an increase of $2.93 million, or 111.0%, over the fourth quarter 2009 net income of $2.64 million.

Additionally, on January 27, 2011, the Corporation declared a quarterly dividend of $0.15 per share, an increase of $0.01, or 7.1%, from the prior quarter. The dividend is payable March 1, 2011, to shareholders of record as of February 14, 2011.

Also, the Corporation reported diluted earnings per share for the twelve months ended December 31, 2010, of $0.85, a decrease of $0.33, or 28.0%, as compared to $1.18 for the same period in 2009. Net income for the twelve months ended December 31, 2010 of $9.17 million was $1.16 million, or 11.3%, lower than the $10.34 million reported for the same period in 2009. Net income for the twelve months ended December 31, 2010 includes pre-tax merger-related and due diligence expenses of $5.7 million.

The merger with First Keystone Financial, Inc. ("FKF"), and its primary subsidiary, First Keystone Bank ("FKB"), occurred on July 1, 2010, and included the acquisition of $275 million of loans, $101 million of investment securities, and deposits of $321 million. Accordingly, this acquisition accounts for a significant portion of the increase in assets and liabilities at December 31, 2010, as compared to December 31, 2009. It also impacts the comparability of certain income statement line items for the quarter and year ended December 31, 2010, as compared to the same periods last year.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs