Bryn Mawr Trust Named a Best Bank in America

Thursday, 03. December 2020 22:00

BRYN MAWR, Pa., Dec. 03, 2020 (GLOBE NEWSWIRE) -- The weekly magazine, Newsweek, has announced their America's Best Banks list for 2021. Bryn Mawr Trust (BMT), wholly owned by Bryn Mawr Bank Corporation (NASDAQ: BMTC), has been named America's Best Bank in Pennsylvania, for the Small Bank division.

According to the Newsweek website, BMT was selected from an initial group of more than 2,500 FDIC-insured financial institutions, and assessed based on 55 different factors. Among the factors considered were "a wide variety of fees, current and historical interest rates, account terms, consumer service features, mobile app satisfaction, and bank profile," according to Newsweek's ranking methodology.

BMT has made significant upgrades to its online banking platforms in the last few years – including regular enhancements of its BMT Mobile Banking applications designed for consumers, small businesses, and commercial banking clients. In 2019/2020, the online account opening experience enhancements included a more intuitive client interface for business and personal deposit and loan products and streamlined back-office processes.

Frank Leto, president and chief executive officer of Bryn Mawr Bank Corporation, referenced the Corporation’s long-term strategic planning and investments in human capital and technology. "The recognition is wonderful and validates our efforts," said Leto. "We have been relentless in our pursuit of efficiency, self-service technologies that consumers and business demand, and a strong value proposition within our product lines. We are particularly pleased that Newsweek considered the quality of our mobile app. Our customers' digital experience has been a major focus for us in recent years."

Kevin Tylus, BMT banking division president, also extolled the quality of the Bank's employees. "This recognition speaks volumes about the collective effort of everyone who works at BMT," said Tylus. "We were in a position to win this award because of the employees who design and deliver the quality, competitive solutions that our customers rely on."

Newsweek offered their ideal profile for a Best Small Bank category winner: "A hometown bank that offers the personalized feel of local branch service, while delivering competitive rates, and mobile banking performance on par with larger national banks which can be a great choice for many customers. Add in low fees and a variety of financial products, including loans, and you have a small-bank winner."

Bryn Mawr Bank Corporation (NASDAQ: BMTC), including its principal subsidiary, The Bryn Mawr Trust Company (BMT), was founded in 1889, and is headquartered in Bryn Mawr, Pa. BMT is a locally managed, premier financial services company providing retail and commercial banking; trust administration and wealth management; and insurance and risk management solutions. Bryn Mawr Bank Corporation has $5.05 billion in corporate assets and $17.24 billion in wealth assets under management, administration, supervision, and brokerage (as of 9/30/20). Today, the company operates 41 banking locations, seven (7) wealth management offices and two (2) insurance and risk management locations in the following counties: Montgomery, Chester, Delaware, Philadelphia, and Dauphin Counties in Pennsylvania; New Castle County in Delaware; and Mercer and Camden Counties in New Jersey. For more information, visit bmt.com.

FORWARD-LOOKING STATEMENTS AND SAFE HARBOR
This communication 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,” “indicate,” “estimate,” “target,” “potentially,” “promising,” “probably,” “outlook,” “predict,” “contemplate,” “continue,” “plan,” “strategy,” “forecast,” “project,” “annualized,” “are optimistic,” “are looking,” “are looking forward” and “believe” or other similar words and phrases may identify forward-looking statements. Persons reading this communication 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. The COVID-19 pandemic (the “Pandemic”) is adversely affecting us, our clients, counterparties, employees, and third-party service providers, and the ultimate extent of the impacts on our business, financial position, results of operations, liquidity, and prospects is uncertain. Continued deterioration in general business and economic conditions, including further increases in unemployment rates, or turbulence in domestic or global financial markets could adversely affect our revenues and the values of our assets and liabilities, reduce the availability of funding, lead to a tightening of credit, and further increase stock price volatility. In addition, changes to statutes, regulations, or regulatory policies or practices as a result of, or in response to the Pandemic, could affect us in substantial and unpredictable ways. Other 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 or accounting standards, including ASU 2016-13 (Topic 326), “Measurement of Credit Losses on Financial Instruments,” commonly referenced as the Current Expected Credit Loss model, which has changed how we estimate credit losses and may result in further increases in the required level of our allowance for credit losses; unanticipated regulatory or legal proceedings, outcomes of litigation or other contingencies; cybersecurity events; 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; uncertainty regarding the future of LIBOR; the impact of public health issues and pandemics, and their effects on the economic and business environments in which we operate, the effect of the Pandemic, including on our credit quality and business operations, as well as its impact on general economic and financial market conditions; and other factors as described in our securities filings with the U.S. Securities and Exchange Commission (“SEC”). All forward-looking statements and information set forth herein are based on Corporation 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 SEC, including our most recent Annual Report on Form 10-K, as updated by our quarterly or other reports subsequently filed with the SEC, including our most recent Quarterly Report on Form 10-Q.

FOR MORE INFORMATION:

Tina McDonald
Senior Vice President, Marketing
610.581.4875


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