BRYN MAWR, Pa., Nov. 14, 2018 (GLOBE NEWSWIRE) — Bryn Mawr Bank Corporation (NASDAQ: BMTC) (the “Corporation”), parent of The Bryn Mawr Trust Company (”BMT”), has announced that it will leverage its existing capital markets expertise to offer correspondent banking services to provide advisory and transaction management services to community and regional banks.
“We believe that community and regional banks play a critical role in the banking industry and economic growth,” said Frank Leto, BMBC President and Chief Executive Officer. “BMT is well positioned to deliver risk management and credit capabilities that will help other local institutions deliver capital markets solutions for their customers.”
The Correspondent Banking team will be led by Sam Weller, Senior Vice President and Director of Correspondent Banking. Mr. Weller reports to the Managing Director of Capital Markets, Neil Orechiwsky, and maintains an office in Devon, Pennsylvania.
“Sam brings a deep understanding of how local banks can effectively use capital markets capabilities to manage risk and drive growth,” said Mr. Orechiwsky. “Sam’s expertise in this space makes him uniquely qualified to lead this effort.”
Mr. Weller joins BMT Capital Markets after six years at PNC Capital Markets in Pittsburgh, Pennsylvania. Prior to working at PNC, Mr. Weller served as Director of Interest Rate Risk Management in Key Bank’s capital markets group, where he provided derivative hedging services to community and regional banks across the United States. He began his career at Chatham Financial Corporation working as a risk management consultant specializing in the financial services industry.
Before entering the private sector, Mr. Weller spent five years as an active duty officer in the U.S. Army. He is a graduate of the U.S. Military Academy at West Point and holds a Master of Business Administration degree from the University of Texas at Austin.
Bryn Mawr Bank Corporation (NASDAQ: BMTC), including its principal subsidiary, The Bryn Mawr Trust Company (BMT), was founded in 1889, and is headquartered in Bryn Mawr, Pa. BMT is a locally managed, premier financial services company providing retail and commercial banking; trust administration and wealth management; and insurance and risk management solutions. Bryn Mawr Bank Corporation has $4.4 billion in corporate assets and $13.9 billion in wealth assets under management, administration, supervision, and brokerage (as of 9/30/18). Today, the company operates 43 banking locations, six (6) wealth management offices and three (3) insurance and risk
management locations in the following counties: Montgomery, Chester, Delaware, Philadelphia, and Dauphin Counties in Pennsylvania; New Castle County in Delaware; and Mercer and Camden Counties in New Jersey. For more information, visit bmtc.com.
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, 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; our ability to complete anticipated acquisitions and any 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 subsequently filed with the SEC.
FOR MORE INFORMATION:
Tina S. McDonald
SVP, Marketing
610.581.4875
Neil Orechiwsky
SVP, Capital Markets
610.254.2056
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/067bdc3c-6c57-4f4f-9f46-8ba98998bf30