Bryn Mawr Bank Corporation stands atop a "big hill" in Pennsylvania. It is the bank holding company for Bryn Mawr Trust, which operates some 25 offices (several are limited-service branches located in retirement communities) in Chester, Delaware, and Montgomery counties, including Philadelphia's tony Main Line suburbs. Founded in 1889, the bank offers traditional services as checking and savings accounts, CDs, mortgages, and business and consumer loans, in addition to insurance products, equipment leasing, investment management, retirement planning, tax planning and preparation, and trust services.
Bryn Mawr (which is Welsh for big hill) has more than $5 billion of assets under administration and management. As part of a strategy to build its wealth management division, the company acquired Davidson Trust in 2012. The deal added some $1 billion in assets under management. In 2011 the company bought the private wealth management business of Hershey Trust Company for more than $14.5 million; that deal brought in approximately $1 billion of assets under management. In 2010 the company purchased First Keystone Financial, adding about 10 bank branches in Pennsylvania and some $2.7 billion in trust and investment assets.
The latter two acquisitions, along with growth in the company's loan and lease portfolio, helped Bryn Mawr report record earnings in 2011. Besides acquisitions, the company has also grown its wealth management business through marketing campaigns to raise brand awareness.
In 2012 Bryn Mawr continued its growth strategy and announced plans to acquire First Bank of Delaware. The deal includes certain consumer and business deposits and loan accounts, as well as a bank branch in Delaware, and will help increase the company's brand awareness there. Bryn Mawr also operates Delaware-based Lau Associates, a financial planning and investment advisory firm, and The Bryn Mawr Trust Company of Delaware. – less