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Stock Market & Financial Investment News

News Breaks
May 5, 2014
08:30 EDTBMTCBryn Mawr Bank to acquire Continental Bank Holdings for about $109M
Bryn Mawr Bank, parent of The Bryn Mawr Trust Company, announced that the corporation has entered into a definitive Agreement and Plan of Merger to acquire Continental Bank Holdings in a transaction with an aggregate value of approximately $109M. Under the terms of the Merger Agreement, shareholders of Continental will receive 0.45 shares of Bryn Mawr Bank Corporation common stock for each share of Continental stock. Holders of Continental's warrants to acquire Series B Convertible Perpetual Preferred Stock will receive cash in the amount of $2.94 for each outstanding Series B Warrant. In addition, under the terms of the Merger Agreement, holders of options and other warrants to acquire shares of Continental common stock will have their options and warrants exchanged for similar options or warrants to acquire Bryn Mawr Bank Corporation common stock as adjusted by the exchange ratio. The Merger Agreement also provides that Continental will pay a special dividend to its shareholders of $1.25M, or 15c per common share, immediately prior to closing. The acquisition dramatically expands the Corporation's distribution network in attractive Montgomery, Chester and western Philadelphia counties by adding 10 branches, approximately $398M in loans and $469M in deposits.
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July 24, 2014
16:31 EDTBMTCBryn Mawr Bank reports Q2 EPS 55c, consensus 49c
Reports Q2 loan loss provision ($100K) vs. $1.0M a year ago. Reports Q2 net charge-offs ($200K) vs. ($1.00M) a year ago.

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