BRYN MAWR BANK CORP - FORM 8-K - EX-99.1

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Exhibit 99.1

LOGO

Bryn Mawr Bank Corporation

Bryn Mawr Bank Corporation Reports Strong First Quarter Earnings

of $7.5 Million, Declares Dividend of $0.19

BRYN MAWR, Pa., April 30, 2015 - Bryn Mawr Bank Corporation (NASDAQ: BMTC) (the “Corporation”), parent of The Bryn Mawr Trust Company (the “Bank”), today reported net income of $7.5 million and diluted earnings per share of $0.42 for the three months ended March 31, 2015, as compared to net income of $6.7 million and diluted earnings per share of $0.49 for the same period in 2014. Net income for the three months ended March 31, 2015 included pre-tax due diligence and merger-related expenses of $2.5 million, as compared to $264 thousand for the same period in 2014.

On a non-GAAP basis, net income, excluding tax-effected due diligence and merger-related expenses was $9.1 million, or $0.51 per diluted share, for the first quarter of 2015 as compared to $6.9 million, or $0.50 per diluted share, for the same period in 2014. Management believes these non-GAAP measures are important in evaluating the Corporation’s performance. A reconciliation of these non-GAAP to GAAP performance measures is included in the schedules accompanying this earnings release.

The merger with Continental Bank Holdings, Inc. (“CBHI”) (the “Merger”), which was completed on January 1, 2015, initially increased the Corporation’s total assets by $741 million and included $426 million of loans and $482 million of deposits. In addition, nine new full-service branches and one Life Care Community office were added, increasing the Corporation’s total number of full-service branches to twenty-nine, eight Life Care Community offices, five Wealth Management locations and two insurance agencies.

In addition to first quarter increases in net interest income, non-interest income and non-interest expense directly resulting from the Continental merger, the Corporation recorded first quarter increases in insurance revenues related to the October 2014 acquisition of Powers Craft Parker and Beard (“PCPB”) and first quarter increases in gain on sale of residential mortgage loans, as the roll-out of the mortgage banking initiative gains momentum.

“With the Continental merger closed and the staff hard at work integrating the two institutions, we are delighted to see the positive contributions from the insurance division as well as the early success of the mortgage initiative,” commented Frank Leto, President and Chief Executive Officer. Mr. Leto continued, “As we progress through 2015, with interest margins tightening, the continued diversification of our revenue streams will be key to our success. Our recently expanded branch network will provide significant opportunities to offer our wide array of financial solutions to both businesses and individuals in these new markets.”

On April 30, 2015, the Board of Directors of the Corporation declared a quarterly dividend of $0.19 per share, payable June 1, 2015 to shareholders of record as of May 12, 2015.

SIGNIFICANT ITEMS OF NOTE

Results of Operations

•

Net income of $7.5 million for the three months ended March 31, 2015 increased $805 thousand, or 12.0%, from $6.7 million for the same period in 2014.

•

Net interest income for the three months ended March 31, 2015 was $24.8 million, an increase of $6.1 million, or 32.4%, from $18.7 million for the same period in 2014. The increase in net interest income between the periods was largely related to the interest income generated by loans acquired in the Merger. Average portfolio loans for the three months ended March 31, 2015 increased by $530.3 million from the same period in 2014. The increase in interest income resulting from loans acquired in the Merger was partially offset

by an increase in interest expense on interest-bearing deposits. Average interest bearing deposits for the three months ended March 31, 2014 increased by $502.3 million as compared to the same period in 2014, primarily related to the deposits acquired in Merger.

•

The tax-equivalent net interest margin of 3.79% for the three months ended March 31, 2015 was a 23 basis point decrease from 4.02% for the same period in 2014. The decrease was largely the result of the $533.7 million increase in average portfolio loans, accompanied by a 9 basis point decline in tax-equivalent yield on portfolio loans. In addition, average interest-bearing deposits increased by $502.3 million accompanied by a 1 basis point increase in the tax-equivalent rate paid on interest-bearing deposits. The decline in yield on portfolio loans was primarily related to the lower yields earned on the loans acquired in the Merger. On a linked-quarter basis, the tax-equivalent net interest margin decreased 5 basis points from 3.84% for the fourth quarter of 2014 to 3.79% for the first quarter of 2015.

•

Non-interest income for the three months ended March 31, 2015 increased $3.6 million as compared to the same period in 2014. Contributing to this increase was an increase of $916 thousand in insurance revenues, as the fees and commissions resulting from the addition of PCPB continue to increase this source of non-interest income. Also, an $814 thousand increase in gain on sale of available for sale investment securities was recorded, as certain longer-duration investment securities, which had been acquired from CBHI, were sold in order to shorten the overall duration of the combined portfolio. In addition, sales of residential mortgage loans increased as the mortgage banking initiative begins to roll out, with the gain on sale of residential mortgage loans increasing by $484 thousand, or 149.7%, for the three months ended March 31, 2015 as compared to the same period in 2014. Residential mortgage loans originated for resale during the first quarter of 2015 totaled $27.2 million, representing a 194.6% increase from the $9.2 million originated in the same period in 2014. Other operating income also increased by $847 thousand for the first quarter of 2015 as compared to the first quarter of 2014. The increase was partially related to a $448 thousand special dividend received from the Federal Home Loan Bank of Pittsburgh (the “FHLB”), in addition to increases in certain debit card fees as a result of the added volume from the Merger. Revenue from the Wealth Management Division continues to be strong, totaling $9.1 million for the first quarter of 2015 as compared to $8.9 million for the same period in 2014.

•

Non-interest expense for the three months ended March 31, 2015 increased $8.5 million, to $27.4 million, as compared to $18.9 million for the same period in 2014. Largely contributing to the increase was a $2.2 million increase in due diligence and merger-related expenses associated with the CBHI merger. In addition to the increase in merger costs, the Corporation recorded increases of $2.4 million in salary and wages, $750 thousand in employee benefits, $533 thousand in occupancy and bank premises, and $529 thousand in furniture fixtures and equipment expenses, all of which were primarily related to the new staff and branches added in the Merger. Also, other operating expense increased by $1.3 million for the three months ended March 31, 2015 as compared to the same period in 2014. Partially contributing to this increase was a $177 thousand prepayment of debt penalty associated with FHLB borrowings and a $343 thousand early termination fee related to the cancellation of two interest rate swaps acquired in the Merger.

•

Nonperforming loans and leases of $9.1 million as of March 31, 2015 were 0.44% of total portfolio loans and leases, as compared to $10.1 million, or 0.61% of total portfolio loans and leases as of December 31, 2014. The 17 basis point decrease in the ratio of nonperforming loans and leases to total portfolio loans was largely related to the $436.3 million increase in portfolio loans between the dates. For the three months ended March 31, 2015, the Corporation recorded net loan and lease charge-offs of $859 thousand, as compared to $495 thousand for the same period in 2014. The provision for loan and lease losses (the “Provision”) for the three months ended March 31, 2015 was $569 thousand as compared to $750 thousand for the same period in 2014. On a linked-quarter basis, the Provision for the first quarter of 2015 increased by $885 thousand from the $316 thousand release from the allowance for loan and lease losses (the “Allowance”) recorded in the fourth quarter of 2014.

Financial Condition – March 31, 2015 Compared to December 31, 2014

•

Total portfolio loans and leases of $2.09 billion as of March 31, 2015 increased by $436.3 million from December 31, 2014. The increase was primarily related to the $426.1 million of

loans initially acquired from CBHI. Organic loan growth slowed during the first quarter of 2015, as we had anticipated, based on the lending pipeline as of December 31, 2014. However, the current pipeline is strong and we expect originations to accelerate as we progress through 2015.

•

The Allowance, as of March 31, 2015, was $14.3 million, or 0.68% of portfolio loans as compared to $14.6 million, or 0.88% of portfolio loans and leases, as of December 31, 2014. The decrease in Allowance as a percentage of portfolio loans and leases was primarily the result of the increase in the balance of portfolio loans from the Merger. In accordance with GAAP, the loans acquired in the Merger were marked to their fair value at acquisition. This fair value mark is comprised of an interest rate component and a credit component, with the credit component being an estimate of the expected lifetime credit losses in the acquired portfolio. As such, no additional Provision was recorded for the acquired loan portfolio. In order to consider this fact when evaluating the adequacy of the Allowance, in addition to other factors, management also considers two additional non-GAAP measures: the Allowance as a percentage of originated loans and leases, which was 0.90% as of March 31, 2015 as compared to 0.94% as of December 31, 2014, and the Allowance plus the remaining loan mark, as a percentage of gross loans, which was 1.61% as of March 31, 2015, as compared to 1.27% as of December 31, 2014.

•

Available for sale investment securities as of March 31, 2015 were $334.7 million, an increase of $105.2 million from December 31, 2014. As a result of the Merger, the Corporation acquired $181.8 million of available for sale investment securities. During the first quarter of 2015, the Corporation sold $63.2 million of these acquired available for sale investment securities in order to shorten the overall duration of the investment portfolio. Proceeds from the sale of available for sale investment securities along with excess cash were used to pay off $94.5 million of short-term FHLB advances assumed from CBHI which matured shortly after the Merger was completed, as well as the prepayment of $19.5 million of long-term FHLB advances which had also been assumed in the Merger.

•

Total assets as of March 31, 2015 were $2.94 billion, an increase of $696.7 million from December 31, 2014. The Continental merger accounted for an initial increase in total assets

of $741.3 million. In addition, cash and cash equivalents increased $25.6 million and portfolio loans and leases increased $10.2 million. These increases were offset by a $76.7 million decrease in available for sale investment securities and a $5.0 million decrease in FHLB stock between the dates.

•

Deposits of $2.24 billion, as of March 31, 2015, increased $553.3 million from December 31, 2014. The Continental merger accounted for an initial increase in $481.7 million of deposits, which included $93.9 million of non-interest-bearing deposits. In addition, increases of $41.7 million and $29.9 million in non-interest-bearing deposits and interest-bearing deposits, respectively, were recorded between the dates. As of March 31, 2015, non-interest-bearing deposits comprised 26.0% of total deposits as compared to 26.5% as of December 31, 2014.

•

The capital ratios for the Bank and the Corporation, as shown in the attached tables, indicate levels well above the regulatory minimum to be considered “well capitalized.” All of the Bank’s and the Corporation’s capital ratios have increased from the levels present at December 31, 2014, largely as a result of the stock issued in the CBHI merger. In addition, increases in retained earnings and unrealized gains on available for sale investment securities contributed to the ratio increases.

EARNINGS CONFERENCE CALL

The Corporation will hold an earnings conference call at 8:30 a.m. EDT on Friday, May 1, 2015. Interested parties may participate by dialing (toll-free) 1-877-504-8812 (international (toll) 1-412-902-6656). A taped replay of the conference call will be available one hour after the conclusion of the call and will remain available through May 15, 2015. The taped replay may be accessed by dialing (toll-free) 1-877-344-7529 (international (toll) 1-412-317-0088) and the conference number is 10062202.

The conference call will be simultaneously broadcast live over the Internet through a webcast on the investor relations portion of the Bryn Mawr Bank Corporation’s website. To access the call, please visit the website at http://services.choruscall.com/links/bmtc150501.html. An online archive of the webcast will be available within one hour of the conclusion of the call. The

Corporation has also recently expanded its Investor Relations website to include added resources and information for shareholders and interested investors. Interested parties are encouraged to utilize the expanded resources of the site for more information on Bryn Mawr Bank Corporation.

FORWARD LOOKING STATEMENTS AND SAFE HARBOR

This press release 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,” “estimate,” “target,” “potentially,” “probably,” “outlook,” “predict,” “contemplate,” “continue,” “plan,” “forecast,” “project,” “are optimistic,” “are looking,” “are looking forward” and “believe” or other similar words and phrases may identify forward-looking statements. Persons reading this press release 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. Such factors include, among others, that the integration of CBHI’s business with the Corporation may take longer than anticipated or be more costly to complete and that the anticipated benefits, including any anticipated cost savings or strategic gains may be significantly harder to achieve or take longer than anticipated or may not be achieved, 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 acquisitions; and other factors as described in our securities filings. All forward-looking statements and information set forth herein are based on 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 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.

Bryn Mawr Bank Corporation

Consolidated Statements of Income - (unaudited)

(dollars in thousands, except per share data)


	For The Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
	2015			2014			2014			2014			2014

Interest income	$	26,754		$	21,055		$	20,749		$	20,941		$	20,161
Interest expense		1,959			1,568			1,573			1,499			1,438


Net interest income		24,795			19,487			19,176			19,442			18,723
Provision for loan and lease losses		569			(316	)		550			(100	)		750

Net interest income after provision for loan and lease losses		24,226			19,803			18,626			19,542			17,973

Fees for wealth management services		9,105			9,263			9,099			9,499			8,913
Loan servicing and other fees		591			450			431			428			446
Service charges on deposits		712			658			663			656			601
Net gain on sale of residential mortgage loans		808			471			440			537			324
Net gain (loss) on sale of investment securities available for sale		810			390			—			85			(4	)
Net gain (loss) on sale of other real estate owned		15			4			(49	)		220			—
Bank owned life insurance income		183			84			76			74			81
Insurance revenue		1,021			795			164			157			105
Other operating income		1,520			768			719			1,101			673

Non-interest income		14,765			12,883			11,543			12,757			11,139

Salaries and wages		10,870			9,869			9,110			9,694			8,440
Employee benefits		2,729			1,900			1,652			1,809			1,979
Occupancy and bank premises		2,466			1,808			1,881			1,683			1,933
Furniture, fixtures and equipment		1,512			1,358			1,078			1,089			983
Advertising		557			400			310			455			339
Amortization of intangible assets		982			753			633			636			637
Due diligence and merger-related expenses		2,501			957			775			377			264
Professional fees		673			809			701			914			593
Pennsylvania bank shares tax		433			64			412			412			368
Other operating expenses		4,706			4,014			3,409			3,557			3,363

Non-interest expense		27,429			21,932			19,961			20,626			18,899

Income before income taxes		11,562			10,754			10,208			11,673			10,213
Income tax expense		4,068			3,710			3,702			4,069			3,524

Net income	$	7,494		$	7,044		$	6,506		$	7,604		$	6,689


Per share data:
Weighted average shares outstanding		17,545,802			13,646,098			13,600,348			13,531,155			13,485,213
Dilutive common shares		357,456			296,682			272,516			304,998			304,828

Adjusted weighted average dilutive shares		17,903,258			13,942,780			13,872,864			13,836,153			13,790,041


Basic earnings per common share	$	0.43		$	0.52		$	0.48		$	0.56		$	0.50

Diluted earnings per common share	$	0.42		$	0.51		$	0.47		$	0.55		$	0.49

Dividend declared per share	$	0.19		$	0.19		$	0.19		$	0.18		$	0.18

Effective tax rate		35.2	%		34.5	%		36.3	%		34.9	%		34.5	%

*Supplemental Non-GAAP Performance Measures (Includes Reconciliation of Non-GAAP to GAAP Performance Measures)**

Net income (a GAAP measure)	$	7,494		$	7,044		$	6,506		$	7,604		$	6,689
add: tax-effected** due diligence and merger-related expenses		1,626			622			504			245			172


Net income excluding tax-effected** due diligence and merger-related expenses (a non-GAAP measure)	$	9,120		$	7,666		$	7,010		$	7,849		$	6,861

Basic earnings per common share excluding tax-effected** due diligence and merger-related expenses (a non-GAAP measure)	$	0.52		$	0.56		$	0.52		$	0.58		$	0.51

Diluted earnings per common share excluding tax-effected** due diligence and merger-related expenses (a non-GAAP measure)	$	0.51		$	0.55		$	0.51		$	0.57		$	0.50

The Corporation believes the presentation of the above non-GAAP financial measure provides useful supplemental information that is essential to an investor’s proper understanding of the results of operations of the Corporation. Management uses this non-GAAP financial measure in its analysis of the Corporation’s performance. This non-GAAP disclosure should not be viewed as a substitute for the financial measure determined in accordance with GAAP, nor is it necessarily comparable to a non-GAAP performance measure that may be presented by other companies

**	assumed nominal tax rate of 35%

Bryn Mawr Bank Corporation

Consolidated Balance Sheets - (unaudited)

(dollars in thousands)


	March 31,			December 31,			September 30,			June 30,			March 31,
	2015			2014			2014			2014			2014
Assets

Interest-bearing deposits with banks	$	244,248		$	202,552		$	56,253		$	85,946		$	59,248
Investment securities - available for sale		334,746			229,577			265,939			266,402			272,599
Investment securities - trading		4,035			3,896			3,803			3,597			3,517
Loans held for sale		6,656			3,882			1,375			1,631			1,340
Portfolio loans:
Consumer		20,204			18,480			16,810			18,907			18,104
Commercial & industrial		457,432			335,645			342,524			334,474			334,295
Commercial mortgages		892,675			689,528			683,558			666,924			640,574
Construction		81,408			66,267			59,923			55,051			44,060
Residential mortgages		379,363			313,442			314,127			310,491			301,532
Home equity lines & loans		209,037			182,082			183,314			185,593			186,277
Leases		48,412			46,813			44,982			44,102			40,988

Total portfolio loans and leases		2,088,531			1,652,257			1,645,238			1,615,542			1,565,830

Earning assets		2,678,216			2,092,164			1,972,608			1,973,118			1,902,534

Cash and due from banks		17,269			16,717			11,312			17,018			14,696
Allowance for loan and lease losses		(14,296	)		(14,586	)		(15,599	)		(15,470	)		(15,770	)
Premises and equipment		42,888			33,748			32,733			32,679			32,473
Accrued interest receivable		7,465			5,560			5,661			5,526			5,687
Mortgage servicing rights		4,815			4,765			4,796			4,760			4,734
Goodwill		101,619			35,781			32,843			32,843			32,843
Other intangible assets		26,522			22,521			17,459			18,092			18,728
Bank owned life insurance		32,772			20,535			20,451			20,375			20,301
FHLB stock		11,541			11,523			12,889			12,775			11,911
Deferred income taxes		12,057			7,209			5,786			5,984			7,517
Other investments		9,238			5,226			4,592			4,507			4,392
Other assets		13,073			5,343			18,351			19,018			19,770


Total assets	$	2,943,179		$	2,246,506		$	2,123,882		$	2,131,225		$	2,059,816


Liabilities and shareholders’ equity

Interest-bearing deposits:
Interest-bearing checking	$	349,582		$	277,228		$	256,890		$	263,247		$	269,409
Money market		717,441			566,354			550,238			559,070			556,076
Savings		184,819			138,992			142,364			145,312			141,979
Wholesale non-maturity deposits		69,555			66,693			41,290			41,840			42,704
Wholesale time deposits		73,476			73,458			60,171			50,152			34,104
Retail time deposits		263,996			118,400			121,158			123,572			130,983

Total interest-bearing deposits		1,658,869			1,241,125			1,172,111			1,183,193			1,175,255

Non-interest-bearing deposits		582,495			446,903			438,221			436,739			404,340

Total deposits		2,241,364			1,688,028			1,610,332			1,619,932			1,579,595

Long-term FHLB advances and other borrowings		250,088			260,146			230,574			233,132			214,640
Short-term borrowings		38,372			23,824			13,980			13,320			10,739
Other liabilities		35,452			29,034			21,387			21,470			19,365
Shareholders’ equity		377,903			245,474			247,609			243,371			235,477


Total liabilities and shareholders’ equity	$	2,943,179		$	2,246,506		$	2,123,882		$	2,131,225		$	2,059,816

Bryn Mawr Bank Corporation

Consolidated Quarterly Average Balance Sheets - (unaudited)

(dollars in thousands)


	For The Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
	2015			2014			2014			2014			2014
Assets

Interest-bearing deposits with banks	$	206,694		$	115,276		$	78,324		$	70,775		$	67,809
Investment securities - available for sale		370,293			252,422			265,491			271,830			281,572
Investment securities - trading		3,897			3,804			3,599			3,518			3,438
Loans held for sale		3,470			982			1,116			1,280			504
Portfolio loans and leases		2,079,412			1,654,239			1,629,102			1,599,104			1,549,161

Earning assets		2,663,766			2,026,723			1,977,632			1,946,507			1,902,484

Cash and due from banks		19,092			13,795			12,739			12,067			12,302
Allowance for loan and lease losses		(14,866	)		(15,837	)		(15,672	)		(16,073	)		(15,761	)
Premises and equipment		44,681			33,290			32,763			32,829			32,358
Goodwill		98,744			35,539			32,843			32,843			32,843
Other intangible assets		26,316			23,392			17,821			18,459			19,095
Bank owned life insurance		32,655			20,478			20,402			20,327			20,252
FHLB stock		11,928			11,419			12,864			12,663			11,915
Deferred income taxes		10,449			2,941			5,926			7,119			7,908
Other assets		25,391			31,102			30,491			29,750			29,940


Total assets	$	2,918,156		$	2,182,842		$	2,127,809		$	2,096,491		$	2,053,336


Liabilities and shareholders’ equity

Interest-bearing deposits:
Interest-bearing checking	$	341,756		$	259,408		$	255,601		$	264,087		$	263,612
Money market		724,806			553,708			565,803			556,241			545,108
Savings		185,848			143,650			143,877			143,418			137,812
Wholesale non-maturity deposits		66,677			60,197			43,256			42,970			41,828
Wholesale time deposits		73,443			68,525			54,976			48,791			35,133
Retail time deposits		267,800			120,855			121,986			127,167			134,574

Total interest-bearing deposits		1,660,330			1,206,343			1,185,499			1,182,674			1,158,067

Non-interest bearing deposits		534,403			446,252			426,883			416,104			415,514

Total deposits		2,194,733			1,652,595			1,612,382			1,598,778			1,573,581

Long-term FHLB advances and other borrowings		266,342			237,835			235,091			222,851			212,405
Short-term borrowings		55,207			19,407			14,074			17,220			13,090
Other liabilities		30,935			24,070			22,298			19,368			22,546
Shareholders’ equity		370,939			248,935			243,964			238,274			231,714


Total liabilities and shareholders’ equity	$	2,918,156		$	2,182,842		$	2,127,809		$	2,096,491		$	2,053,336

Bryn Mawr Bank Corporation

Quarterly Average Balances and Tax-Equivalent Interest Income and Expense and Tax-Equivalent Yields - (unaudited)


	For The Three Months Ended
	March 31, 2015									December 31, 2014									September 30, 2014									June 30, 2014									March 31, 2014
(dollars in thousands)	Average Balance			Interest Income/ Expense			Average Rates Earned/ Paid			Average Balance			Interest Income/ Expense			Average Rates Earned/ Paid			Average Balance			Interest Income/ Expense			Average Rates Earned/ Paid			Average Balance			Interest Income/ Expense			Average Rates Earned/ Paid			Average Balance			Interest Income/ Expense			Average Rates Earned/ Paid

Assets:
Interest-bearing deposits with other banks	$	206,694		$	115			0.23	%	$	115,276		$	65			0.22	%	$	78,324		$	46			0.23	%	$	70,775		$	44			0.25	%	$	67,809		$	37			0.22	%
Investment securities - available for sale:
Taxable		335,208			1,336			1.62	%		221,190			973			1.75	%		230,457			884			1.52	%		235,853			903			1.54	%		245,006			972			1.61	%
Tax-exempt		35,085			203			2.35	%		31,232			142			1.80	%		35,034			149			1.69	%		35,977			151			1.68	%		36,566			153			1.70	%

Total investment securities - available for sale		370,293			1,539			1.69	%		252,422			1,115			1.75	%		265,491			1,033			1.54	%		271,830			1,054			1.56	%		281,572			1,125			1.62	%

Investment securities - trading		3,897			4			0.42	%		3,804			9			0.94	%		3,599			9			0.99	%		3,518			17			1.94	%		3,438			7			0.83	%

Loans and leases *		2,082,882			25,226			4.91	%		1,655,221			19,972			4.79	%		1,630,218			19,767			4.81	%		1,600,384			19,936			5.00	%		1,549,665			19,107			5.00	%

Total interest-earning assets		2,663,766			26,884			4.09	%		2,026,723			21,161			4.14	%		1,977,632			20,855			4.18	%		1,946,507			21,051			4.34	%		1,902,484			20,276			4.32	%

Cash and due from banks		19,092									13,795									12,739									12,067									12,302
Less: allowance for loan and lease losses		(14,866	)								(15,837	)								(15,672	)								(16,073	)								(15,761	)
Other assets		250,164									158,161									153,110									153,990									154,311


Total assets	$	2,918,156								$	2,182,842								$	2,127,809								$	2,096,491								$	2,053,336


Liabilities:

Interest-bearing deposits:
Savings, NOW and market rate deposits	$	1,252,410		$	594			0.19	%	$	956,766		$	422			0.17	%	$	965,281		$	430			0.18	%	$	963,746		$	420			0.17	%	$	946,532		$	405			0.17	%
Wholesale deposits		140,120			188			0.54	%		128,722			190			0.59	%		98,232			175			0.71	%		91,761			147			0.64	%		76,961			114			0.60	%
Time deposits		267,800			246			0.37	%		120,855			143			0.47	%		121,986			137			0.45	%		127,167			146			0.46	%		134,574			170			0.51	%

Total interest-bearing deposits		1,660,330			1,028			0.25	%		1,206,343			755			0.25	%		1,185,499			742			0.25	%		1,182,674			713			0.24	%		1,158,067			689			0.24	%

Borrowings:
Short-term borrowings		55,207			11			0.08	%		19,407			4			0.08	%		14,074			3			0.08	%		17,220			5			0.12	%		13,090			3			0.09	%
Long-term FHLB advances and other borrowings		266,342			920			1.40	%		237,835			809			1.35	%		235,091			828			1.40	%		222,851			781			1.41	%		212,405			746			1.42	%

Total borrowings		321,549			931			1.17	%		257,242			813			1.25	%		249,165			831			1.32	%		240,071			786			1.31	%		225,495			749			1.35	%

Total interest-bearing liabilities		1,981,879			1,959			0.40	%		1,463,585			1,568			0.43	%		1,434,664			1,573			0.43	%		1,422,745			1,499			0.42	%		1,383,562			1,438			0.42	%

Noninterest-bearing deposits		534,403									446,252									426,883									416,104									415,514
Other liabilities		30,935									24,070									22,298									19,368									22,546

Total noninterest-bearing liabilities		565,338									470,322									449,181									435,472									438,060

Total liabilities		2,547,217									1,933,907									1,883,845									1,858,217									1,821,622

Shareholders’ equity		370,939									248,935									243,964									238,274									231,714


Total liabilities and shareholders’ equity	$	2,918,156								$	2,182,842								$	2,127,809								$	2,096,491								$	2,053,336


Interest income to earning assets								4.09	%								4.14	%								4.18	%								4.34	%								4.32	%

Net interest spread								3.69	%								3.71	%								3.75	%								3.92	%								3.90	%
Effect of noninterest-bearing sources								0.10	%								0.13	%								0.12	%								0.11	%								0.12	%


Tax-equivalent net interest income/ margin on earning assets				$	24,925			3.79	%				$	19,593			3.84	%				$	19,282			3.87	%				$	19,552			4.03	%				$	18,838			4.02	%


Tax-equivalent adjustment				$	130			0.02	%				$	106			0.02	%				$	106			0.02	%				$	110			0.02	%				$	115			0.02	%


Supplemental Information Regarding Accretion of Fair Value Marks
Accretion of fair value marks on loans				$	1,127								$	513								$	516								$	941								$	761
Accretion of fair value marks on time deposits					245									4									6									6									7
Accretion of fair value marks on borrowings					70									30									30									30									30

Net interest income from fair value marks				$	1,442								$	547								$	552								$	977								$	798

Effect of fair value mark accretion on tax-equivalent net interest margin					0.22	%								0.11	%								0.11	%								0.20	%								0.17	%

*	Average loans and leases include portfolio loans and leases, and loans held for sale. Non-accrual loans are also included in the average loan and leases balances.

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data - (unaudited)

(dollars in thousands, except per share data)


	For The Three Months Ended or As Of
	March 31, 2015			December 31, 2014			September 30, 2014			June 30, 2014			March 31, 2014
Asset Quality Data

Nonaccrual loans and leases	$	9,130		$	10,096		$	8,336		$	8,388		$	10,236
90 days or more past due loans, still accruing		—			—			—			—			—

Nonperforming loans and leases		9,130			10,096			8,336			8,388			10,236
Other real estate owned		1,532			1,147			894			853			1,040

Total nonperforming assets	$	10,662		$	11,243		$	9,230		$	9,241		$	11,276


Troubled debt restructurings included in nonperforming assets	$	4,217		$	4,315		$	1,725		$	1,597		$	2,698
Troubled debt restructurings in compliance with modified terms		4,145			4,157			6,913			7,487			6,667

Total troubled debt restructurings	$	8,362		$	8,472		$	8,638		$	9,084		$	9,365

Nonperforming loans and leases / portfolio loans & leases		0.44	%		0.61	%		0.51	%		0.52	%		0.65	%
Nonperforming assets / total assets		0.36	%		0.50	%		0.43	%		0.43	%		0.55	%
Net loan and lease charge-offs / average loans and leases (annualized)		0.16	%		0.17	%		0.10	%		0.05	%		0.13	%
Delinquency rate* - Performing and nonperforming loans and leases 30 days or more past due		0.51	%		0.50	%		0.48	%		0.64	%		0.59	%
Performing loans and leases - 30-89 days past due	$	3,361		$	2,232		$	1,739		$	3,743		$	1,815
Delinquency rate* - Performing loans and leases - 30-89 days past due		0.16	%		0.13	%		0.11	%		0.23	%		0.12	%
* as a percentage of total loans and leases

Changes in the allowance for loan and lease losses:

Balance, beginning of period	$	14,586		$	15,599		$	15,470		$	15,770		$	15,515
Charge-offs		(928	)		(864	)		(493	)		(304	)		(538	)
Recoveries		69			167			72			104			43

Net charge-offs		(859	)		(697	)		(421	)		(200	)		(495	)
Provision for loan and lease losses		569			(316	)		550			(100	)		750

Balance, end of period	$	14,296		$	14,586		$	15,599		$	15,470		$	15,770


Total Allowance / Total Portfolio loans and leases		0.68	%		0.88	%		0.95	%		0.96	%		1.01	%
Allowance on originated loans and leases / Originated loans and leases (a non-GAAP measure)		0.90	%		0.94	%		1.01	%		1.01	%		1.09	%
(Total Allowance + Loan mark) / Total Gross portfolio loans and leases (a non-GAAP measure)		1.61	%		1.27	%		1.36	%		1.42	%		1.54	%
Total Allowance / nonperforming loans and leases		156.6	%		144.5	%		187.1	%		184.4	%		154.1	%

Supplemental Loan and Allowance Information Used to Calculate Non-GAAP Measures

Total Allowance	$	14,296		$	14,586		$	15,599		$	15,470		$	15,770
less: Allowance on acquired loans		125			86			273			479			396

Allowance on originated loans and leases	$	14,171		$	14,500		$	15,326		$	14,991		$	15,374

Total Allowance	$	14,296		$	14,586		$	15,599		$	15,470		$	15,770
Loan mark on acquired loans		19,708			6,422			6,932			7,510			8,483

Total Allowance + Loan mark	$	34,004		$	21,008		$	22,531		$	22,980		$	24,253

Total Portfolio loans and leases	$	2,088,532		$	1,652,257		$	1,645,238		$	1,615,542		$	1,565,830
less: Originated loans and leases		1,571,377			1,535,003			1,516,104			1,479,526			1,415,317

Net acquired loans	$	517,155		$	117,254		$	129,134		$	136,016		$	150,513
add: Loan mark on acquired loans		19,708			6,422			6,932			7,510			8,483

Gross acquired loans (excludes loan mark)	$	536,863		$	123,676		$	136,066		$	143,526		$	158,996
Originated loans and leases		1,571,377			1,535,003			1,516,104			1,479,526			1,415,317

Total Gross portfolio loans and leases	$	2,108,240		$	1,658,679		$	1,652,170		$	1,623,052		$	1,574,313

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data - (unaudited)

(dollars in thousands, except per share data)


	For The Three Months Ended or As Of
	March 31, 2015			December 31, 2014			September 30, 2014			June 30, 2014			March 31, 2014
Selected ratios (annualized):

Return on average assets		1.04	%		1.28	%		1.21	%		1.45	%		1.32	%
Return on average shareholders’ equity		8.19	%		11.23	%		10.58	%		12.80	%		11.71	%
Return on average tangible equity ⁽²⁾		12.36	%		14.71	%		13.35	%		16.31	%		15.10	%
Tax-equivalent yield on loans and leases		4.91	%		4.79	%		4.81	%		5.00	%		5.00	%
Tax-equivalent yield on interest-earning assets		4.09	%		4.14	%		4.18	%		4.34	%		4.32	%
Cost of interest-bearing funds		0.40	%		0.43	%		0.43	%		0.42	%		0.42	%
Tax-equivalent net interest margin		3.79	%		3.84	%		3.87	%		4.03	%		4.02	%
Book value per share	$	21.26		$	17.83		$	18.03		$	17.74		$	17.24
Tangible book value per share	$	14.05		$	13.59		$	14.37		$	14.03		$	13.47
Shares outstanding at end of period		17,777,628			13,769,336			13,730,581			13,719,337			13,656,979

Selected data:

Mortgage loans originated	$	35,728		$	29,929		$	29,861		$	39,575		$	17,892

Residential mortgage loans sold - servicing retained	$	24,569		$	14,382		$	16,237		$	15,154		$	9,086
Residential mortgage loans sold - servicing released		2,644			92			539			—			152

Total residential mortgage loans sold	$	27,213		$	14,474		$	16,776		$	15,154		$	9,238


Yield on residential mortgage loans sold		2.97	%		3.25	%		2.62	%		3.54	%		3.51	%

Residential mortgage loans serviced for others	$	591,989		$	590,659		$	594,156		$	594,660		$	598,338

Total wealth assets under management, administration, supervision and brokerage ⁽¹⁾	$	7,816,441		$	7,699,908		$	7,580,779		$	7,569,842		$	7,361,977

⁽¹⁾

Brokerage assets represent assets held at a registered broker dealer under a clearing agreement.

⁽²⁾

Average tangible equity equals average shareholders’ equity minus average goodwill and average other intangible assets.

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data - (unaudited)

(dollars in thousands, except per share data)


Investment Portfolio - Available for Sale	As of March 31, 2015							As of December 31, 2014
SECURITY DESCRIPTION	Amortized Cost		Fair Value		Net Unrealized Gain / (Loss)			Amortized Cost		Fair Value		Net Unrealized Gain / (Loss)

U.S. Treasury securities	$	102	$	102	$	—		$	102	$	100	$	(2	)
Obligations of the U.S. Government and agencies		89,078		89,669		591			66,881		66,762		(119	)
State & political subdivisions		32,128		32,261		133			28,955		29,045		90
Mortgage-backed securities		159,472		162,370		2,898			79,498		81,382		1,884
Collateralized mortgage obligations		32,412		32,759		347			34,618		34,797		179
Other debt securities		1,900		1,900		—			1,900		1,900		—
Bond mutual funds		11,956		11,883		(73	)		11,956		11,835		(121	)
Other investments		3,674		3,802		128			3,643		3,756		113

Total investment portfolio available for sale	$	330,722	$	334,746	$	4,024		$	227,553	$	229,577	$	2,024


Capital Ratios
	Regulatory Minimum To Be Well Capitalized			March 31, 2015			December 31, 2014			September 30, 2014			June 30, 2014			March 31, 2014
Bryn Mawr Trust Company

Tier I capital to risk weighted assets (“RWA”)		8.00	%		12.38	%		11.32	%		11.60	%		11.68	%		11.65	%
Total (Tier II) capital to RWA		10.00	%		13.05	%		12.19	%		12.54	%		12.62	%		12.63	%
Tier I leverage ratio		5.00	%		9.52	%		8.98	%		9.39	%		9.51	%		9.43	%
Tangible equity ratio		N/A			8.42	%		8.19	%		9.21	%		9.18	%		9.18	%
Common equity Tier I capital to RWA		4.50	%		12.38	%		N/A			N/A			N/A			N/A

Bryn Mawr Bank Corporation

Tier I capital to RWA		8.00	%		12.63	%		12.00	%		12.05	%		11.85	%		11.71	%
Total (Tier II) capital to RWA		10.00	%		13.30	%		12.87	%		12.99	%		12.79	%		12.69	%
Tier I leverage ratio		5.00	%		9.77	%		9.43	%		9.77	%		9.67	%		9.50	%
Tangible equity ratio		N/A			8.87	%		8.61	%		9.58	%		9.32	%		9.23	%
Common equity Tier I capital to RWA		4.50	%		12.63	%		N/A			N/A			N/A			N/A

FOR RELEASE: IMMEDIATELY

Frank Leto, President, CEO

FOR MORE INFORMATION CONTACT:

J. Duncan Smith, CFO