The Bryn Mawr Bank Corporation reported net income of $8.9 million and diluted earnings per share of $0.52 for the second quarter, as compared to $8.3 million, or $0.49 diluted earnings per share for the first quarter.
“The results for the second quarter are promising, with the full effect of the first quarter loan growth having a significant impact on our net interest income,” said Frank Leto, President and Chief Executive Officer.
“Additionally, our credit quality continues to be strong, with low charge-off and delinquency levels, which are reflected in the reduced provision recorded this quarter.
“As we saw in the first quarter of this year, we continue to experience the positive results stemming from the strategic decisions we made in 2015. We are beginning to reap the benefits of our significant investment in new technology, and the addition of new teams and talent to the organization.”
The Board of Directors of the Corporation recently elected to increase the quarterly dividend by five percent, declaring a quarterly dividend of $0.21 per share.
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