A strong first quarter of earnings is helping the parent company of Bryn Mawr Trust rise above doubts surrounding the longtime local bank’s future.
Bryn Mawr Bank Corp. has endured underperformance, accusations of compliance issues and an abrupt stock loss over the past year as it has attempted to assimilate the recent acquisitions of Davidson Trust, Hershey Trust Co. and Continental Bank Holdings, but CEO Frank Leto sees the rough patch as an opportunity to reposition Bryn Mawr Bank for bold moves forward.
“We feel Bryn Mawr is in the unique position in this region to be the dominant player in the next few years,” he said in a Philly.com report by Erin E. Arvedlund. “We fit a unique niche in the market. We make decisions locally and quickly. Between our lending and wealth management, we feel we have a unique opportunity to be the dominant regional bank.”
And the recent quarterly earnings illustrated it is getting some traction.
“We believe this is the quarter [Bryn Mawr Bank] needed to produce in order to restore investor interest and belief in the story,” Sandler O’Neill & Partners analyst Casey Orr said in the article.
Read more about where Bryn Mawr Bank has come from and where analysts think it might be headed on Philly.com here.