UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
February 10, 2017
BRYN MAWR BANK CORPORATION
(Exact name of registrant as specified in its charter)
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Pennsylvania |
001-35746 |
23-2434506 |
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(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| 801 Lancaster Avenue, Bryn Mawr, PA | 19010 |
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(Address of principal executive offices) |
(Zip Code) |
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Registrant's telephone number, including area code |
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(610) 525-1700 |
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Not applicable |
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(Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 10, 2017, the Compensation Committee (the "Committee") of the Boards of Directors of Bryn Mawr Bank Corporation (the "Corporation") and its wholly-owned subsidiary, The Bryn Mawr Trust Company (the "Bank") approved, retroactively effective as of January 1, 2017, market-based increases to the salaries for the below-named executive officers of the Corporation and the Bank. The increases were primarily due to the results of a market compensation analysis performed by the Committee's external compensation consultant, McLagan, as well as to the performance of each executive.
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Named Executive Officer |
Salary Increase |
2017 Salary |
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Francis J. Leto, President and Chief Executive Officer of the Bank and the Corporation |
$70,000 |
$570,000 |
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Alison Eichert, Executive Vice President and Chief Operating Officer of the Bank, Vice President of the Corporation |
$28,908 |
$335,000 |
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Joseph G. Keefer, Executive Vice President and Chief Lending Officer of the Bank |
$24,600 |
$300,000 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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BRYN MAWR BANK CORPORATION | |
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Date: |
February 10, 2017 |
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By: |
/s/ Alison Eichert |
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Alison Eichert |
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Vice President |
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