Bank of America – Bryn Mawr Belief Named a Greatest Bank in America

BRYN MAWR, Pa., Dec. 03, 2020 (GLOBE NEWSWIRE) — The weekly journal, Newsweek, has introduced their America’s Greatest Banks checklist for 2021. Bryn Mawr Belief (BMT), wholly owned by Bryn Mawr Bank Company (NASDAQ: BMTC), has been named America’s Greatest Bank in Pennsylvania, for the Small Bank division.

In line with the Newsweek web site, BMT was chosen from an preliminary group of greater than 2,500 FDIC-insured monetary establishments, and assessed based mostly on 55 various factors. Among the many elements thought-about had been “all kinds of charges, present and historic rates of interest, account phrases, client service options, cell app satisfaction, and bank profile,” based on Newsweek’s rating methodology.

BMT has made important upgrades to its on-line banking platforms in the previous couple of years – together with common enhancements of its BMT Cell Banking purposes designed for shoppers, small companies, and business banking shoppers. In 2019/2020, the net account opening expertise enhancements included a extra intuitive shopper interface for enterprise and private deposit and loan merchandise and streamlined back-office processes.

Frank Leto, president and chief government officer of Bryn Mawr Bank Company, referenced the Company’s long-term strategic planning and investments in human capital and expertise. “The popularity is fantastic and validates our efforts,” stated Leto. “We have now been relentless in our pursuit of effectivity, self-service applied sciences that customers and enterprise demand, and a robust value proposition inside our product strains. We’re significantly happy that Newsweek thought-about the standard of our cell app. Our clients’ digital expertise has been a significant focus for us in recent times.”

Kevin Tylus, BMT banking division president, additionally extolled the standard of the Bank’s staff. “This recognition speaks volumes concerning the collective effort of everybody who works at BMT,” stated Tylus. “We had been able to win this award due to the workers who design and ship the standard, aggressive options that our clients depend on.”

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Newsweek supplied their supreme profile for a Greatest Small Bank class winner: “A hometown bank that gives the customized really feel of native department service, whereas delivering aggressive charges, and cell banking efficiency on par with bigger nationwide banks which generally is a nice selection for a lot of clients. Add in low charges and a wide range of monetary merchandise, together with loans, and you’ve got a small-bank winner.”

Bryn Mawr Bank Company (NASDAQ: BMTC), together with its principal subsidiary, The Bryn Mawr Belief Firm (BMT), was based in 1889, and is headquartered in Bryn Mawr, Pa. BMT is a regionally managed, premier monetary providers firm offering retail and business banking; belief administration and wealth administration; and insurance coverage and threat administration options. Bryn Mawr Bank Company has $5.05 billion in company belongings and $17.24 billion in wealth belongings underneath administration, administration, supervision, and brokerage (as of 9/30/20). In the present day, the corporate operates 41 banking places, seven (7) wealth administration places of work and two (2) insurance coverage and threat administration places within the following counties: Montgomery, Chester, Delaware, Philadelphia, and Dauphin Counties in Pennsylvania; New Fortress County in Delaware; and Mercer and Camden Counties in New Jersey. For extra info, go to bmt.com.

FORWARD-LOOKING STATEMENTS AND SAFE HARBOR
This communication incorporates statements which, to the extent that they aren’t recitations of historic reality may represent forward-looking statements for functions of the Securities Act of 1933, as amended, and the Securities Alternate Act of 1934, as amended. Such forward-looking statements may embody monetary and different projections in addition to statements relating to the Company’s future plans, targets, efficiency, revenues, progress, income, working bills or the Company’s underlying assumptions. The phrases “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 different comparable phrases and phrases may establish forward-looking statements. Individuals studying this communication are cautioned that such statements are solely predictions, and that the Company’s precise future outcomes or efficiency may be materially totally different.

Such forward-looking statements contain recognized and unknown dangers and uncertainties. Plenty of elements, lots of that are past the Company’s management, might trigger our precise outcomes, occasions or developments, or trade outcomes, to be materially totally different from any future outcomes, occasions or developments expressed, implied or anticipated by such forward-looking statements, and so our enterprise and monetary situation and outcomes of operations could possibly be materially and adversely affected. The COVID-19 pandemic (the “Pandemic”) is adversely affecting us, our shoppers, counterparties, staff, and third-party service suppliers, and the final word extent of the impacts on our enterprise, monetary place, outcomes of operations, liquidity, and prospects is unsure. Continued deterioration usually enterprise and financial circumstances, together with additional will increase in unemployment charges, or turbulence in home or world monetary markets might adversely have an effect on our revenues and the values of our belongings and liabilities, cut back the supply of funding, result in a tightening of credit score, and additional enhance stock price volatility. As well as, adjustments to statutes, laws, or regulatory insurance policies or practices on account of, or in response to the Pandemic, might have an effect on us in substantial and unpredictable methods. Different elements embody, amongst others, our want for capital, our potential to regulate working prices and bills, and to handle loan and lease delinquency charges; the credit score dangers of lending actions and total high quality of the composition of our loan, lease and securities portfolio; the influence of financial circumstances, client and enterprise spending habits, and actual property market circumstances on our enterprise and in our market space; adjustments within the ranges of normal rates of interest, deposit rates of interest, or web curiosity margin and funding sources; adjustments in banking laws and insurance policies and the likelihood that any banking company approvals we would require for sure actions won’t be obtained in a well timed method or in any respect or will probably be conditioned in a fashion that may impair our potential to implement our enterprise plans; adjustments in accounting insurance policies and practices or accounting requirements, together with ASU 2016-13 (Matter 326), “Measurement of Credit Losses on Financial Instruments,” generally referenced because the Present Anticipated Credit score Loss model, which has modified how we estimate credit score losses and may end in additional will increase within the required stage of our allowance for credit score losses; unanticipated regulatory or authorized proceedings, outcomes of litigation or different contingencies; cybersecurity occasions; the shortcoming of key third-party suppliers to carry out their obligations to us; our potential to draw and retain key personnel; competitors in our market; battle or terrorist actions; materials variations within the precise monetary outcomes, price financial savings and income enhancements related to our acquisitions; uncertainty relating to the way forward for LIBOR; the influence of public well being points and pandemics, and their results on the financial and enterprise environments by which we function, the impact of the Pandemic, together with on our credit score high quality and enterprise operations, in addition to its influence on normal financial and monetary market circumstances; and different elements as described in our securities filings with the U.S. Securities and Alternate Fee (“SEC”). All forward-looking statements and knowledge set forth herein are based mostly on Company administration’s present beliefs and assumptions as of the date hereof and converse solely as of the date they’re made. The Company doesn’t undertake to replace forward-looking statements.

For an entire dialogue of the assumptions, dangers and uncertainties associated to our enterprise, you’re inspired to assessment our filings with the SEC, together with our most up-to-date Annual Report on Type 10-Ok, as up to date by our quarterly or different studies subsequently filed with the SEC, together with our most up-to-date Quarterly Report on Type 10-Q.