Attached files
 First Quarter
2011 Update
March 31, 2011
Bryn Mawr Bank
Corporation
NASDAQ: BMTC
Strong -
Stable -
Secure
Exhibit 99.3 |
 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
April
28,
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 ($3.6 billion) under one roof at March 31, 2011
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 of $0.15 per share
A great brand & franchise
Solid financial fundamentals and well capitalized
Outstanding target market demographics
New business initiatives driving growth
$3.60 billion wealth management business that provides a significant
source of non-interest income |
 5
Acquisition of Private Wealth
Management Group of Hershey Trust
Company
Announced on February 18, 2011
Transaction
closing
expected
during
the
2
nd
Quarter
of
2011
pending
regulatory approvals
Total purchase price of $18.25 million
$8.15 million cash at closing, $6.5 million unregistered shares,
$3.6 million
in escrow for contingent payments
Will add approximately $1.1 billion in assets under management to BMTC
Wealth Division and 500 relationships |
 6
First Quarter 2011 BMTC Performance
Closing price on December 31, 2010:
$17.45
Closing price on March 31, 2011:
$20.57
2011 dividends declared per share:
$0.15
Security or Index
YTD 2011 Return
BMTC*
18.72%
NASDAQ Community Bank Index*
1.46%
KBW Bank Index*
-0.23%
*Source: Bloomberg |
 7
Growth Initiatives |
 8
2011 Strategies
3-5-3 Strategic Plan
$3
billion
in
banking
assets
-
$5
billion
in
wealth
assets
–
3
years
Organic growth –
opportunistic expansion
Inorganic
growth
–
additional
acquisitions
The Corporation intends to implement or continuing implementing the following
strategic initiatives over the next few years:
|
 9
2011 Strategies -
continued
Focus on the net interest margin
Continued emphasis on strong credit quality
Raise capital as needed
Lower the efficiency ratio
Complete an additional bank and/or wealth acquisition
|
 10
Financial Review |
 11
Financial Highlights
1
st
Qtr
2011
4
th
Qtr
2010
3
rd
Qtr
2010
2
nd
Qtr
2010
1
st
Qtr
2010
Portfolio Loans & Leases
($ in millions)
$1,219
$1,197
$1,176
$899
$893
Total Deposits
($ in millions)
$1,316
$1,341
$1,260
$953
$914
Total Wealth Assets
($ in billions)
$3.60
$3.41
$3.29
$3.10
$3.11
Tangible Book Value Per Share
$11.65
$11.21
$11.03
$11.62
$10.56
Tangible Common Equity Ratio
8.65%
8.01%
7.95%
9.66%*
7.82%
*Tangible common equity ratio at 6/30/2010 includes the net proceeds of the $24.7
million registered direct stock offering and excludes the effect of the
7/1/2010 FKF merger. |
 12
Financial Highlights -
continued
1
st
Qtr
2011
4
th
Qtr
2010
3
rd
Qtr
2010
2
nd
Qtr
2010
1
st
Qtr
2010
Net Income (Loss)
($ in millions)
$4.72
$5.57
$(1.02)*
$2.41
$2.22
Dividends Declared
$0.15
$0.14
$0.14
$0.14
$0.14
Diluted Earnings (Loss) Per
Common Share
$0.38
$0.46
$(0.08)
$0.25
$0.25
Non-performing Loans as a
% of Portfolio Loans and
Leases
0.88%
0.79%
0.82%
1.11%
0.77%
Allowance for Loan and
Lease Losses
0.87%**
0.86%**
0.88%**
1.09%
1.09%
* Includes approximately $4.3 million of pretax merger and due diligence related
expenses. **Includes the acquired FKF loan portfolio, recorded at fair value,
without its previously recorded allowance for loan and lease loss
|
 13
4.06%
3.80%
3.66%
3.73%
4.03%
3.2%
3.4%
3.6%
3.8%
4.0%
4.2%
4.4%
Mar-10
Jun-10
Sep-10
Dec-10
Mar-11
Quarterly Net Interest Margin
On a tax-equivalent basis |
 14
Capital Considerations
Maintains a “well capitalized”
capital position
Active Dividend Reinvestment and Stock Purchase Plan with Request for
Waiver program
Selectively add capital as needed to maintain capital levels and
fund asset
growth and acquisitions |
 15
Capital Position -
Bryn Mawr Bank Corporation
3/31/2011
12/31/2010
Tier I
12.07%
11.30%
Total (Tier II)
14.52%
13.71%
Tier I Leverage
9.80%
8.85%
Tangible Common Equity
8.65%
8.01% |
 16
Wealth Division Review |
 17
Wealth Assets Under Management, Administration,
Supervision and Brokerage
($ in billions)
Excludes Community Bank’s assets from 2006 -
2007
$2.18
$2.28
$2.15
$2.87
$3.41
$3.60
$1.2
$2.2
$3.2
$4.2
2006
2007
2008
2009
2010
3/31/2011 |
 18
Wealth Management Fees
($ in millions)
Excludes Community Bank’s fees from 2006 -
2007
$12.4
$13.5
$13.8
$14.2
$15.5
$4.2
$2.0
$6.0
$10.0
$14.0
$18.0
2006
2007
2008
2009
2010
3/31/2011 |
 19
Wealth Division Highlights
Bryn Mawr Asset Management
“Lift out”
strategy
Four investment advisers hired
Approximately $231 million in assets as of March 31, 2011
Additional opportunities being evaluated
Institutional Trust and Escrow Services
Strong pipeline of new business |
 20
BMTC of Delaware
The Delaware Advantage
Directed trusts
$526 million in assets at March 31, 2011
New location –
Greenville, DE
Lau Associates
$610 million in assets at March 31, 2011
New location –
Greenville, DE
Wealth Division Highlights -
continued |
 21
Credit Review |
 22
Portfolio Loan & Lease Growth
($ in millions)
2010 includes the addition of the First Keystone loan portfolio.
$681
$803
$900
$886
$1,197
$1,219
$200
$400
$600
$800
$1,000
$1,200
$1,400
2006
2007
2008
2009
2010
3/31/2011 |
 23
Loan Composition at March 31, 2011
($ in millions)
$392
$240
$220
$278
$55
$34
Commercial Mortgages
Commercial & Industrial
Home Equity Lines & Loans & Consumer Loans
Residential Mortgages
Construction
Leases |
 24
Small Ticket National Leasing Business
Leases outstanding: $34 million at March 31, 2011
Average yield of 10.3% at March 31, 2011
Net lease charge-offs decreased $2.7 million in 2010 compared to 2009
Delinquency rate has fallen 169 basis points over the past 12 months to
1.37% at March 31, 2011 |
 25
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 |
 26
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 |
 27
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. 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. |
 28
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
of
First
Keystone
Financial,
Inc.
and
First
Keystone
Bank
and
the
anticipated
acquisition of the Private Wealth Management Group of the Hershey Trust Company;
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
April
28,
2011
and
speak only as of that date. The Corporation does not undertake to update
forward-looking statements. |
 29
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. |
 30
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.
|