This Day On The Street
Continue to site
ADVERTISEMENT
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 To Acquire The Private Wealth Management Group Of The Hershey Trust Company Increasing Wealth Assets By More Than 30.0%

BRYN MAWR, Pa., Feb. 21, 2011 (GLOBE NEWSWIRE) -- Bryn Mawr Bank Corporation (Nasdaq:BMTC), (the "Corporation"), parent of The Bryn Mawr Trust Company (the "Bank"), today announced that they have entered into a definitive agreement to acquire the Private Wealth Management Group of the Hershey Trust Company (the "PWMG Business"). The acquisition is expected to increase the assets under management of Bryn Mawr Trust's Wealth Management Division by approximately $1.1 billion. Ted Peters, Chairman and CEO of Bryn Mawr Trust, commented, "We are excited to welcome the PWMG clients of the Hershey Trust Company to Bryn Mawr Trust. I can assure them that they will receive the same high-quality advice and service that they presently receive." Francis J. Leto, EVP and head of the Wealth Management Division at Bryn Mawr Trust added, "I am very impressed with the expertise and professionalism of the PWMG investment and fiduciary teams and look forward to having them join Bryn Mawr Trust. This acquisition is an important step in growing a business that has strategic importance to us."  

The PWMG Business will remain in its current location at One West Chocolate Avenue, Hershey, PA 17033 and clients will continue to be supported by the investment advisors and client service teams that they have worked with in the past.

Consideration for the transaction will involve a combination of cash and stock, for the PWMG Business. The acquisition is expected to close in the second quarter of 2011, subject to certain conditions and regulatory approvals. For a complete description of the transaction please review our filings with the Securities and Exchange Commission, which will be available on our website ( www.bmtc.com ) on Tuesday, February 22, 2011.

About the Corporation

The Corporation, including its wholly-owned subsidiary, The Bryn Mawr Trust Company ("Bryn Mawr Trust"), which was founded in 1889, has $1.7 billion in corporate assets and $3.4 billion in trust and investment assets under management, administration, supervision, and brokerage. Bryn Mawr Trust offers a full range of personal and business banking services, consumer and commercial loans, equipment leasing, mortgages, insurance, as well as wealth management services including investment management, trust and estate administration, retirement planning, custody services, and tax planning and preparation. Headquartered in Bryn Mawr, Pennsylvania, Bryn Mawr Trust has seventeen full-service branches serving residents and businesses in the suburbs of Philadelphia. It also maintains seven limited service offices in adult life care communities.

1 of 3

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,351.38 +293.03 1.82%
S&P 500 1,948.86 +35.01 1.83%
NASDAQ 4,749.9790 +113.8740 2.46%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs