Attached files
 Bryn Mawr
Bank Corporation
NASDAQ: BMTC
Groundhog Day
2010 Year End Review and New Growth Strategies
Exhibit 99.2 |
 1
Safe Harbor
This presentation 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.
Please see the section titled Safe Harbor at the end of the presentation for more
information regarding these types of statements.
The information contained in this presentation is correct only as of
February
2,
2011.
Our business, financial condition, results of operations and
prospects may have changed since that date, and we do not undertake to update
such information. |
 2
Bryn Mawr Bank Corporation
Profile
Founded in 1889 –
121 year history
A unique business model with a traditional commercial bank ($1.7
billion)
and a trust company ($3.4 billion) under one roof at December 31, 2010
Wholly owned subsidiary –
The Bryn Mawr Trust Company
Largest community bank in Philadelphia’s affluent western suburbs
Celebrated 25 years on the NASDAQ in August 2010 |
 3
Southeast PA Footprint
•
17 BMTC Full Service Branch Locations |
 4
Investment Considerations
Quarterly dividend increased 7.1% to $0.15 –
declared January 27, 2011
A great brand & franchise
Solid financial fundamentals and well capitalized
Outstanding target market demographics
New business initiatives driving growth
$3.41 billion wealth management business that provides a significant
source of non-interest income |
 5
2010 BMTC Performance
Closing price on December 31, 2009:
$15.09
Closing price on December 31, 2010:
$17.45
2010 dividends declared per share:
$0.56
Security or Index
2010 Return
BMTC
19.35%
NASDAQ Community Bank Index*
11.46%
NASDAQ Bank Index*
10.24%
*Source: NASDAQ |
 Growth Initiatives |
 7
2011 Strategies
3-5-3 Strategic Plan
$3 billion in banking assets -
$5 billion in wealth assets –
3 years
Organic growth –
opportunistic expansion
Inorganic growth –
additional acquisitions
The Corporation intends to implement or continuing implementing the following
strategic initiatives over the next few years:
|
 8
2011 Strategies -
continued
Focus on the net interest margin
Continued emphasis on strong credit quality
Raise capital as needed
Lower the efficiency ratio
Complete an additional bank and/or wealth acquisition
|
 Financial Review |
 10
Financial Highlights
4
th
Qtr
2010
3
rd
Qtr
2010
2
nd
Qtr
2010
1
st
Qtr
2010
4
th
Qtr
2009
Portfolio Loans & Leases
($ in millions)
$1,197
$1,176
$899
$893
$886
Total Deposits
($ in millions)
$1,341
$1,260
$953
$914
$938
Total Wealth Assets
($ in billions)
$3.41
$3.29
$3.10
$3.11
$2.87
Tangible Book Value Per
Share
$11.21
$11.03
$11.62
$10.56
$10.40
Tangible Common Equity
Ratio
8.01%
7.95%
9.66%*
7.82%
7.51%
*Tangible common equity ratio at 6/30/2010 includes the net proceeds of the $24.7
million registered direct stock offering and excludes the effect of the
7/1/2010 FKF merger. |
 11
Financial Highlights -
continued
4
th
Qtr
2010
3
rd
Qtr
2010
2
nd
Qtr
2010
1
st
Qtr
2010
4
th
Qtr
2009
Net Income (Loss)
($ in millions)
$5.57
$(1.02)*
$2.41
$2.22
$2.64
Dividends Declared
$0.14
$0.14
$0.14
$0.14
$0.14
Diluted Earnings (Loss)
Per Common Share
$0.46
$(0.08)
$0.25
$0.25
$0.30
Non-performing Loans as
a % of Portfolio Loans and
Leases
0.82%
0.82%
1.11%
0.77%
0.78%
Allowance for Loan and
Lease Losses
0.86%**
0.88%**
1.09%
1.09%
1.18%
* Includes approximately $4.3 million of pretax merger and due diligence related
expenses. **Includes the acquired FKF loan portfolio, recorded at fair value,
without its previously recorded allowance for loan and lease loss
|
 12
3.85%
4.06%
3.80%
3.66%
3.73%
3.2%
3.4%
3.6%
3.8%
4.0%
4.2%
Dec-09
Mar-10
Jun-10
Sep-10
Dec-10
Net
Interest
Margin
On a tax-equivalent basis |
 13
Capital Considerations
Registered Direct Offering closed on May 18, 2010 raising $24.7 million
after deducting fees and expenses
Maintains a “well capitalized”
capital position
Active Dividend Reinvestment and Stock Purchase Plan with Request for
Waiver program
Selectively add capital as needed to maintain capital levels and
fund asset
growth and acquisitions |
 14
Capital
Position
-
Bryn
Mawr
Bank
Corporation
12/31/2010
12/31/2009
Tier I
11.30%
9.41%
Total (Tier II)
13.71%
12.53%
Tier I Leverage
8.85%
8.35%
Tangible Common Equity
8.01%
7.51% |
 Wealth Division Review |
 16
Wealth Division Initiatives
Bryn Mawr Asset Management
“Lift out”
strategy
Four investment advisers hired
Approximately $227 million in assets as of December 31, 2010
Additional opportunities being evaluated
Institutional Trust and Escrow Services
Strong pipeline of new business |
 17
BMTC of Delaware
The Delaware Advantage
Directed trusts
$486 million in assets at December 31, 2010
New location –
Greenville, DE
Wealth Marketing Campaign
Wealth Division Initiatives -
continued |
 18
Wealth Assets Under Management, Administration,
Supervision and Brokerage
($ in billions)
Excludes Community Bank’s assets from 2005 -
2007
$2.04
$2.18
$2.28
$2.15
$2.87
$3.41
$1.0
$2.0
$3.0
$4.0
2005
2006
2007
2008
2009
2010 |
 19
Wealth Management Fees
CAGR: 6.2% (2005 –
2010)
($ in millions)
Excludes Community Bank’s fees from 2005 -
2007
$11.5
$12.4
$13.5
$13.8
$14.2
$15.5
$6.0
$9.0
$12.0
$15.0
$18.0
2005
2006
2007
2008
2009
2010 |
 Credit Review |
 21
Portfolio Loan & Lease Growth
CAGR : 15.0% (2005-2010)
($ in millions)
2010 includes the addition of the First Keystone loan portfolio.
$595
$681
$803
$900
$886
$1,197
$300
$500
$700
$900
$1,100
$1,300
2005
2006
2007
2008
2009
2010 |
 22
Loan Composition at December 31, 2010
$387
$239
$229
$262
$45
$35
Commercial Mortgages
Commercial & Industrial
Home Equity Lines & Loans & Consumer Loans
Residential Mortgages
Construction
Leases
($ in millions) |
 23
Small Ticket National Leasing Business
Leases outstanding: $35 million at December 31, 2010
Planned lease portfolio reduction of $12.4 million since December 31,
2009. New production will take several quarters to match scheduled
payments and charge-offs
Average yield of 10.3% at December 31, 2010
Net lease charge-offs decreased $2.7 million in 2010 compared to 2009
Delinquency rate has fallen 88 basis points over the past 12 months to
1.99% at December 31, 2010 |
 24
Summary
Outstanding franchise in a stable market
Focus on Wealth Services, Business Banking and Private Banking
Investing in growth opportunities today for earnings growth
tomorrow
Sound business strategy, strong asset quality, well capitalized
and solid risk management procedures serve as a foundation for
potential strategic expansion |
 Thank You
Joseph Keefer, EVP
610-581-4869
jkeefer@bmtc.com
Duncan Smith, CFO
610-526 –2466
jdsmith@bmtc.com
Ted Peters, Chairman
610-581-4800
tpeters@bmtc.com
Frank Leto, EVP
610-581-4730
fleto@bmtc.com
Aaron Strenkoski, VP –
Finance / Investor Relations –
610-581-4822 –
astrenkoski@bmtc.com |
 26
This presentation 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 Bryn
Mawr
Bank Corporation’s (the “Corporation”) that may include 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”, “estimate”, “target”,
“potentially”, “probably”, “outlook”, “predict”,
“contemplate”,
“continue”,
“plan”,
“forecast”,
“project”
and
“believe”
or
other
similar
words,
phrases
or concepts may identify forward-looking statements. Persons reading or present
at this presentation 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.
Safe Harbor |
 27
Safe Harbor (continued)
Such 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; 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
acquisition
via
the
merger
of
First
Keystone
Financial,
Inc.
and
First
Keystone
Bank;
and
other factors as described in our securities filings. All forward-looking
statements and information made herein are based on Management’s
current beliefs and assumptions as of February
2, 2011
and speak only as of that date. The Corporation does not undertake to update
forward-looking statements. |
 28
Safe Harbor (continued)
For a complete discussion of the assumptions, risks and uncertainties related to
our business, you are encouraged to review our filings with the Securities
and Exchange Commission, including our most recent annual report on Form
10-K, as well as any changes in risk factors that we may identify in our
quarterly or other reports filed with the SEC. This
presentation
is
for
discussion
purposes
only,
and
shall
not
constitute
any
offer
to
sell
or
the
solicitation
of
an
offer
to
buy
any
security,
nor
is
it
intended
to
give
rise
to
any
legal
relationship
between
the
Corporation
and
you
or
any
other
person,
nor
is
it
a
recommendation
to
buy
any
securities or enter into any transaction with the Corporation.
The information contained herein is preliminary and material changes to such
information may be made at any time. If any offer of securities is made, it
shall be made pursuant to a definitive offering memorandum or prospectus
(“Offering Memorandum”) prepared by or on behalf of the
Corporation, which would contain material information not contained herein and
which shall supersede, amend and supplement this information in its
entirety. Any decision to invest in the Corporation’s securities
should be made after reviewing an Offering Memorandum, conducting such
investigations as the investor deems necessary or appropriate, and consulting the investor’s
own legal, accounting, tax, and other advisors in order to make an independent
determination of the suitability and consequences of an investment in such
securities. |
 29
Safe Harbor (continued)
No offer to purchase securities of the Corporation will be made or accepted prior
to receipt by an investor of an Offering Memorandum and relevant
subscription documentation, all of which must be reviewed together with the
Corporation’s then-current financial statements and, with respect to
the subscription documentation, completed and returned to the Corporation in its
entirety. Unless purchasing in an offering of securities registered
pursuant to the Securities Act of 1933, as amended,
all
investors
must
be
“accredited
investors”
as
defined
in
the
securities
laws
of
the
United States before they can invest in the Corporation.
|