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Bryn Mawr Bank Corporation (BMTC) plans to release its fourth quarter 2020 financial results on January 21, 2021, after market close. The earnings conference call is scheduled for January 22, 2021, at 8:30 AM ET, available via phone and online webcast. The Corporation has $5.05 billion in corporate assets and $17.24 billion in wealth assets under management as of September 30, 2020. Future earnings call decisions remain uncertain, which may indicate changes in communication strategy. Investors are advised to stay informed on potential impacts of the COVID-19 pandemic.
Bryn Mawr Trust, part of Bryn Mawr Bank Corporation (NASDAQ: BMTC), launched a redesigned website, bmt.com, on December 17, 2020. The new site features improved functionality, making it easier for users to access personal, small business, commercial, wealth management, and insurance services. Key features include enhanced navigation, integrated Investor Relations, location search improvements, and financial calculators. CEO Frank Leto emphasized this redesign as part of a strategic investment in technology, reflecting the goal of enhancing user experience for clients and prospects.
Bryn Mawr Trust (BMT), part of Bryn Mawr Bank Corporation (NASDAQ: BMTC), has been recognized as America's Best Bank in Pennsylvania for the Small Bank division by Newsweek for 2021. Selection was based on an evaluation of over 2,500 financial institutions across 55 factors, including fees, interest rates, and customer service. The bank has made notable advancements in online banking, enhancing its mobile apps and account opening processes. CEO Frank Leto stated this recognition confirms their commitment to efficiency and quality customer experience.
Bryn Mawr Bank Corporation (NASDAQ: BMTC) reported a net income of $13.2 million or $0.66 diluted earnings per share for Q3 2020, down from $15.0 million and $0.75 in Q2 2020, and $16.4 million and $0.81 in Q3 2019. Net interest income fell by $2.4 million to $35.0 million, reflecting pressure from low interest rates. However, noninterest income increased by $533 thousand. The bank declared a quarterly dividend of $0.27 per share payable December 1, 2020. Management remains focused on stability amid ongoing economic challenges.
Bryn Mawr Bank Corporation (NASDAQ: BMTC) plans to release its third quarter 2020 financial results after market close on October 22, 2020. An earnings conference call will be held on October 23, 2020, at 8:30 a.m. ET. The bank reported $5.3 billion in corporate assets and $17.0 billion in wealth assets under management as of June 30, 2020. The Corporation operates 42 locations across multiple counties in Pennsylvania, Delaware, and New Jersey.
Bryn Mawr Trust (BMT), a wholly owned subsidiary of Bryn Mawr Bank Corporation (NASDAQ: BMTC), announced the appointment of Rachel Lindeman as Senior Vice President and Commercial Real Estate (CRE) Relationship and Construction Loan Manager. Lindeman, who boasts 13 years of experience from M&T Bank, will enhance BMT’s commercial lending, focusing on expanding the bank's presence in Delaware. With $5.27 billion in corporate assets, BMT aims to support customers amid pandemic challenges.
Bryn Mawr Trust (BMT) announced the appointment of John E. Kveragas, Jr. as Senior Vice President and Chief Audit Officer, effective July 27, 2020. Kveragas brings over 20 years of auditing experience, including roles at ING Direct/Capital One and Zenbanx. He will succeed David Wong, who retires at the end of August. The bank, part of Bryn Mawr Bank Corporation (NASDAQ: BMTC), manages $5.27 billion in corporate assets and $17 billion in wealth assets. CEO Frank Leto expressed optimism about Kveragas's expertise enhancing the organization.
Bryn Mawr Bank Corporation (NASDAQ: BMTC) reported a net income of $15.0 million, or $0.75 diluted earnings per share for Q2 2020, reversing a net loss of $11.2 million from Q1 2020. This increase was attributed to a decline in provisions for credit losses from $32.3 million in Q1 to $4.3 million in Q2. Net interest income rose to $37.4 million, while noninterest income climbed to $22.8 million, supported by a $2.4 million gain from the sale of PPP loans. A quarterly dividend of $0.27 per share was declared, payable September 1, 2020.
Bryn Mawr Bank Corporation (NASDAQ: BMTC) will report its second quarter 2020 financial results after market close on July 20, 2020. The earnings conference call is scheduled for July 21, 2020, at 8:30 a.m. Eastern Time, with participation available at 1-888-317-6016. An online archive of the conference call will be accessible shortly after its conclusion. As of March 31, 2020, the corporation manages $4.9 billion in corporate assets and $15.6 billion in wealth assets. Forward-looking statements are subject to risks and uncertainties, particularly due to ongoing COVID-19 impacts.