GlobeNewswire Inc | Jul 20, 2020 04:30PM EDT

July 20, 2020

BRYN MAWR, Pa., July 20, 2020 (GLOBE NEWSWIRE) -- Bryn Mawr Bank Corporation (NASDAQ: BMTC) (the Corporation), parent of The Bryn Mawr Trust Company (the Bank), today reported net income of $15.0 million, or $0.75 diluted earnings per share for the three months ended June 30, 2020, as compared to a net loss of $11.2 million, or $(0.56) diluted earnings per share, for the three months ended March 31, 2020, and net income of $15.8 million, or $0.78 diluted earnings per share, for the three months ended June 30, 2019.

On a non-GAAP basis, core net income, which excludes gain on sale of Small Business Administration (SBA) Paycheck Protection Program (PPP) loans, one-time costs associated with the wind-down of BMT Investment Advisers, a wholly-owned subsidiary of the Corporation, and severance associated with certain staff reductions, as detailed in the appendix to this earnings release, was $15.4 million, or $0.77 diluted earnings per share, for the three months ended June 30, 2020. There were no meaningful non-core income or expense items for the three months ended March 31, 2020 or June 30, 2019. Management believes the core net income measure is important in evaluating the Corporations performance on a more comparable basis between periods. A reconciliation of this and other non-GAAP to GAAP performance measures is included in the appendix to this earnings release.

In this time of unprecedented uncertainty, I am pleased with our second quarter results. This is truly a testament to BMTs strong foundation and focus on people, process, technology and diversification of revenue streams. The hard work and dedication our employees showed in this time of crisis deserves special recognition, commented Frank Leto, President and Chief Executive Officer, continuing, Our transition to remote work was seamless and will offer us future efficiencies in both occupancy and personnel expenses. We entered this pandemic in a position of strength. Management remains diligent in the execution of our heightened risk management and credit monitoring processes.

On July 20, 2020, the Board of Directors of the Corporation declared a quarterly dividend of $0.27 per share, payable September 1, 2020 to shareholders of record as of August 3, 2020.

SIGNIFICANT ITEMS OF NOTE

Results of Operations Second Quarter 2020 Compared to First Quarter 2020

-- Net income for the three months ended June 30, 2020 was $15.0 million, or $0.75 diluted earnings per share, as compared to a net loss of $11.2 million, or $(0.56) diluted earnings per share, for the three months ended March 31, 2020. The net loss for the three months ended March 31, 2020 was primarily due to the $32.3 million in provision for credit losses on loans and leases (the Provision) recorded in the first quarter of 2020 as a result of reserve builds driven by the COVID-19 pandemic. The Provision for the three months ended June 30, 2020 was $4.3 million. Other factors impacting the increase in net income included increases of $1.1 million and $4.5 million in net interest income and noninterest income, respectively, partially offset by increases of $425 thousand and $7.0 million in noninterest expense and income tax expense, respectively, for the three months ended June 30, 2020 as compared to the three months ended March 31, 2020. -- Net interest income for the three months ended June 30, 2020 was $37.4 million, an increase of $1.1 million over the linked quarter. Tax-equivalent net interest income for the three months ended June 30, 2020 was $37.5 million, an increase of $1.0 million over the linked quarter. Tax-equivalent net interest income for the second quarter of 2020 was positively impacted by the accretion of purchase accounting fair value marks of $1.0 million, an increase of $91 thousand as compared to $949 thousand for the linked quarter. Excluding the effects of these purchase accounting fair value marks, the adjusted tax-equivalent net interest income for the three months ended June 30, 2020 was $36.4 million, an increase of $947 thousand over the linked quarter. A reconciliation of this and other non-GAAP to GAAP performance measures is included in the appendix to this earnings release.The tax-equivalent net interest margin was 3.22% for the three months ended June 30, 2020 as compared to 3.38% for the linked quarter. Adjusting for the impact of the accretion of purchase accounting fair value marks, the adjusted tax-equivalent net interest margin was 3.13% for the three months ended June 30, 2020 as compared to 3.29% for the linked quarter. A reconciliation of this and other non-GAAP to GAAP performance measures is included in the appendix to this earnings release.Items contributing to the increase in tax-equivalent net interest income adjusted for purchase accounting included decreases of $3.2 million and $221 thousand in interest paid on deposits and interest expense on short-term borrowings, respectively, partially offset by decreases of $2.2 million and $292 thousand in tax-equivalent interest and fees earned on loans and leases and tax-equivalent interest income on available for sale investment securities, respectively, for the three months ended June 30, 2020 as compared to the linked quarter ended March 31, 2020. These decreases were primarily due to reduced interest rates during the second quarter of 2020 as compared to the first quarter of 2020 and driven by management's active balance sheet management in this current interest rate environment.Interest expense on deposits for the three months ended June 30, 2020 decreased $3.2 million over the linked quarter. The decrease was primarily due to a 47 basis point decrease in the tax-equivalent rate paid on average interest-bearing deposits for the three months ended June 30, 2020 as compared to the linked quarter. The effect of the decrease in the tax-equivalent rate paid was partially offset by an increase of $115.4 million in average interest-bearing deposits for the three months ended June 30, 2020 as compared to the linked quarter.Interest expense on short-term borrowings for the three months ended June 30, 2020 decreased $221 thousand over the linked quarter. The decrease was primarily due to a 62 basis point decrease in the rate paid as compared to the linked quarter coupled with a $3.8 million decrease in average short-term borrowings as compared to the linked quarter.Tax-equivalent interest and fees earned on loans and leases for the three months ended June 30, 2020 decreased $2.1 million as compared to the linked quarter. The decrease was primarily due to a 46 basis point decrease in the tax-equivalent yield on average loans and leases for the three months ended June 30, 2020 as compared to the linked quarter. The effect of the decrease in the tax-equivalent yield was partially offset by an increase of $201.6 million in average loans and leases for the three months ended June 30, 2020 as compared to the linked quarter. The increase in average loan and lease balances was primarily the result of the addition of $307.9 million PPP loans originated during the second quarter of 2020. The majority of these PPP loans were sold prior to quarter-end.Tax-equivalent interest income on available for sale investment securities for the three months ended June 30, 2020 decreased $292 thousand as compared to the linked quarter. The decrease was primarily due to a 23 basis point decrease in the tax-equivalent yield on average available for sale investment securities. The effect of the decrease in the tax-equivalent yield was partially offset by an increase of $242 thousand in average available for sale investment securities for the three months ended June 30, 2020 as compared to the linked quarter. -- Noninterest income of $22.8 million for the three months ended June 30, 2020 represented a $4.5 million increase over the linked quarter. The increase was primarily due to increases of $2.4 million, $2.2 million, and $614 thousand in net gain on sale of loans, other operating income, and capital markets revenue, respectively, partially offset by decreases of $243 thousand, $230 thousand, and $201 thousand in service charges on deposits, insurance commissions, and dividends on the Corporation's equity stocks issued by the Federal Home Loan Bank (FHLB) and the Federal Reserve Bank, respectively. The increase in net gain on sale of loans was driven by a $2.4 million gain on the sale of approximately $292.1 million of PPP loans in the second quarter of 2020. The increase in other operating income was primarily due to a $1.0 million gain on trading securities recorded in the second quarter of 2020, as compared to a $978 thousand loss on trading securities recorded in the first quarter of 2020. Trading security gains and losses are due to market fluctuations in the Corporation's trading securities held in deferred compensation trust accounts. -- Noninterest expense of $36.8 million for the three months ended June 30, 2020 represented a $425 thousand increase over the linked quarter. Increases of $990 thousand and $207 thousand in other operating expenses and professional fees, respectively, were partially offset by decreases of $311 thousand, $279 thousand, and $205 thousand in furniture, fixtures and equipment expenses, employee benefits, and advertising expenses, respectively. The increase in other operating expenses was primarily driven by $2.3 million of other operating expenses recorded in the second quarter of 2020 associated with the wind-down of BMT Investment Advisers, as well as a $1.7 million increase in deferred compensation expense which was primarily due to market fluctuations in the first and second quarters of 2020 affecting the Corporation's deferred compensation plan liability. These increases in other operating expenses were partially offset by a decrease of $3.9 million in provision for credit losses on off-balance sheet credit exposures. During the first quarter of 2020, a $3.0 million provision for credit losses on off-balance sheet credit exposures was recorded driven by the expected adverse economic impacts of the COVID-19 pandemic. -- The Provision of $4.3 million for the three months ended June 30, 2020 decreased $28.0 million as compared to $32.3 million for the three months ended March 31, 2020. The Provisions recorded in the first and second quarters of 2020 were driven by the current and forward-looking adverse economic impacts of the COVID-19 pandemic included in the estimation of expected credit losses on loans and leases as of March 31, 2020 and June 30, 2020, respectively. Net loan and lease charge-offs for the second quarter of 2020 totaled $3.4 million, a decrease of $675 thousand as compared to $4.1 million for the first quarter of 2020. -- The effective tax rate for the second quarter of 2020 increased to 21.09% as compared to 20.94% for the first quarter of 2020.

Results of Operations Second Quarter 2020 Compared to Second Quarter 2019

-- Net income for the three months ended June 30, 2020 was $15.0 million, or $0.75 diluted earnings per share, as compared to $15.8 million, or $0.78 diluted earnings per share, for the three months ended June 30, 2019. Net interest income for the three months ended June 30, 2020 was $37.4 million, an increase of $774 thousand over the same period in 2019. The Provision for the three months ended June 30, 2020, as calculated under the Current Expected Credit Loss (CECL) framework, increased $2.7 million as compared to the same period in 2019, which was calculated in accordance with previously applicable GAAP. Total noninterest income increased $2.6 million, total noninterest expense increased $1.7 million, and income tax expense decreased $229 thousand for the three months ended June 30, 2020 as compared to the three months ended June 30, 2019. -- Net interest income for the three months ended June 30, 2020 was $37.4 million, an increase of $774 thousand as compared to the same period in 2019. Tax-equivalent net interest income for the three months ended June 30, 2020 was $37.5 million, an increase of $741 thousand as compared to the same period in 2019. Tax-equivalent net interest income for the first quarter of 2020 was positively impacted by the accretion of purchase accounting fair value marks of $1.0 million as compared to $1.3 million for the same period in 2019. Excluding the effects of these purchase accounting fair value marks, the adjusted tax-equivalent net interest income for the three months ended June 30, 2020 was $36.4 million, an increase of $988 thousand as compared to the same period in 2019. A reconciliation of this and other non-GAAP to GAAP performance measures is included in the appendix to this earnings release.The tax-equivalent net interest margin was 3.22% for the three months ended June 30, 2020 as compared to 3.55% for the same period in 2019. Adjusting for the impacts of the accretion of purchase accounting fair value marks, the adjusted tax-equivalent net interest margin was 3.13% and 3.43% for three months ended June 30, 2020 and 2019, respectively. The main drivers for the decrease in the adjusted tax-equivalent net interest margin were the rate and volume changes of interest-bearing assets and liabilities as discussed in the below bullet points. A reconciliation of this and other non-GAAP to GAAP performance measures is included in the appendix to this earnings release.Items contributing to the increase in tax-equivalent net interest income adjusted for purchase accounting included a decrease of $5.3 million in interest paid on deposits, partially offset by decreases of $3.9 million and $642 thousand in tax-equivalent interest and fees earned on loans and leases and tax-equivalent interest income on available for sale investment securities, respectively, for the three months ended June 30, 2020 as compared to the same period in 2019. These decreases were all primarily due to reduced interest rates observed during the second quarter of 2020 as compared to the same period in 2019 driven by the current interest rate environment.Interest expense on deposits for the three months ended June 30, 2020 decreased $5.2 million as compared to the same period in 2019. The decrease was primarily due to a 78 basis point decrease in the tax-equivalent rate paid on average interest-bearing deposits for the three months ended June 30, 2020 as compared to the same period in 2019. The effect of the decrease in the tax-equivalent rate paid was partially offset by an increase of $174.3 million in average interest-bearing deposits for the three months ended June 30, 2020 as compared to the same period in 2019.Tax-equivalent interest and fees earned on loans and leases for the three months ended June 30, 2020 decreased $4.1 million as compared to the same period in 2019. The decrease was primarily due to a 95 basis point decrease in the tax-equivalent yield on average loans and leases for the three months ended June 30, 2020 as compared to the same period in 2019. The effect of the decrease in the tax-equivalent yield was partially offset by an increase of $415.8 million in average loans and leases for the three months ended June 30, 2020 as compared to same period in 2019.Tax-equivalent interest income on available for sale investment securities for the three months ended June 30, 2020 decreased $642 thousand as compared to the same period in 2019. The decrease was primarily due to a 27 basis point decrease in the tax-equivalent yield on average available for sale investment securities for the three months ended June 30, 2020 as compared to the same period in 2019 coupled with a decrease of $47.1 million in average available for sale investment securities for the three months ended June 30, 2020 as compared to the same period in 2019. -- Noninterest income of $22.8 million for the three months ended June 30, 2020 represented a $2.6 million increase over the same period in 2019. The increase was primarily due to increases of $2.4 million and $1.5 million in net gain on sale of loans and capital markets revenue, respectively, partially offset by decreases of $394 thousand, $265 thousand, $249 thousand, and $234 thousand in insurance commissions, other operating income, service charges on deposits, and fees for wealth management services, respectively. The increase in net gain on sale of loans was driven by a $2.4 million gain on the sale of approximately $292.1 million of PPP loans in the second quarter of 2020. The increase in capital markets revenue was primarily due to increased volume and size of interest rate swap transactions with commercial loan customers for the three months ended June 30, 2020 as compared to the same period in 2019. -- Noninterest expense of $36.8 million for the three months ended June 30, 2020 represented a $1.7 million increase over the same period in 2019. Increases of $2.5 million, $259 thousand, and $212 thousand in other operating expenses, professional fees, and impairment of mortgage servicing rights, respectively, were partially offset by decreases of $448 thousand, $397 thousand, and $308 thousand in furniture, fixtures and equipment expenses, Pennsylvania bank shares tax, and advertising expenses, respectively. The increase in other operating expenses was primarily driven by $2.3 million of other operating expenses recorded in the second quarter of 2020 associated with the wind-down of BMT Investment Advisers, as well as a $476 thousand increase in deferred compensation expense. These increases in other operating expenses were partially offset by an $867 thousand release of reserves for credit losses on off-balance sheet credit exposures recorded in the second quarter of 2020 based on lower future line usage estimates. -- The Provision of $4.3 million for the three months ended June 30, 2020, as calculated under the CECL framework, increased $2.7 million as compared to the same period in 2019, which was calculated in accordance with previously applicable GAAP. The Provision recorded in the second quarter of 2020 was driven by the current and forward-looking adverse economic impacts of the COVID-19 pandemic included in the estimation of expected credit losses on loans and leases as of June 30, 2020. Net loan and lease charge-offs for the second quarter of 2020 totaled $3.4 million, an increase of $2.3 million as compared to $1.1 million for the second quarter in 2019. -- The effective tax rate for the second quarter of 2020 decreased to 21.09% as compared to 21.18% for the second quarter of 2019.

Financial Condition June 30, 2020 Compared to December 31, 2019

-- Total assets as of June 30, 2020 were $5.27 billion, an increase of $8.1 million from December31, 2019. Cash balances increased $410.6 million primarily due to the sale of approximately $292.1 million of PPP loans in the second quarter of 2020 coupled with higher deposit balances resulting from PPP loan funds deposited with the Bank. Other assets increased $96.1 million primarily driven by a $96.4 million increase in the fair value of interest rate swaps. Partially offsetting these increases was a $475.4 million decrease in available for sale investment securities as discussed in the bullet point below. -- Available for sale investment securities as of June 30, 2020 totaled $530.6 million, a decrease of $475.4 million from December 31, 2019. The decrease was primarily due to the maturing of $500.0 million of short-term U.S. Treasury securities in the first quarter of 2020, partially offset by increases of $12.1 million, $11.2 million, and $8.0 million of U.S. government and agency securities, mortgage-backed securities, and corporate bonds, respectively. -- Total portfolio loans and leases of $3.72 billion as of June 30, 2020 increased by $32.9 million from December31, 2019, an increase of 0.9%. Increases of $38.7 million, $25.3 million, $15.1 million, and $10.2 million in commercial real estate loans (nonowner-occupied), commercial and industrial loans, commercial real estate loans (owner-occupied), and construction loans, respectively, were partially offset by decreases of $29.5 million, $13.5 million, and $11.4 million in home equity lines of credit, consumer loans, and residential mortgage loans (1st liens), respectively. In conjunction with the adoption of CECL, the Corporation has revised its portfolio segmentation to align with the methodology applied in determining the allowance for credit losses (ACL) for loans and leases under CECL, which is based on federal call report codes which classify loans based on the primary collateral supporting the loan. Portfolio segmentation prior to the adoption of CECL was based on product type or purpose. As such, certain reclassifications were made to conform previous years to the current year's presentation.As of June 30, 2020, 1,668 loans and leases in the amount of $767.1 million, approximately 20.6% of the Corporation's portfolio loans and leases, are within a deferral period under the Corporation's consumer and commercial loan and lease modification programs. -- The ACL on loans and leases was $22.6 million as of December 31, 2019. Effective January 1, 2020, the Corporation adopted CECL and recognized an increase in the ACL on loans and leases of approximately $3.2 million, as a cumulative effect of a change in accounting principle, with a corresponding decrease, net of tax, in retained earnings. The ACL on loans and leases was $55.0 million as of June 30, 2020, an increase of $32.4 million as compared to December 31, 2019. The significant increase was driven by the current and forward-looking adverse economic impacts of the COVID-19 pandemic included in the estimation of expected credit losses on loans and leases as of June 30, 2020 as compared to our initial adoption of CECL. -- Deposits of $4.24 billion as of June 30, 2020 increased $401.4 million from December 31, 2019. Increases of $319.3 million, $133.0 million, and $29.2 million in noninterest bearing deposits, money market accounts, and savings accounts, respectively, were partially offset by decreases of $34.5 million and $31.4 million in interest-bearing demand accounts and wholesale non-maturity deposits, respectively. The increase in noninterest bearing deposits was primarily due to the Bank's funding of PPP loans to its depositors during the second quarter of 2020. -- Borrowings of $194.4 million as of June 30, 2020, which include short-term borrowings, long-term FHLB advances, subordinated notes and junior subordinated debentures decreased $471.6 million from December 31, 2019. The decrease was primarily due to the maturing of $500.0 million of short-term borrowings in the first quarter of 2020, which was used to fund the purchase of $500.0 million of short-term U.S. Treasury securities included on the balance sheet as of December 31, 2019. -- Wealth assets totaled $17.01 billion as of June 30, 2020, an increase of $464.8 million from December 31, 2019. As of June 30, 2020, wealth assets consisted of $10.35 billion of wealth assets where fees are set at fixed amounts, an increase of $779.9 million from December 31, 2019, and $6.66 billion of wealth assets where fees are predominantly determined based on the market value of the assets held in their accounts, a decrease of $315.0 million from December 31, 2019. -- The capital ratios for the Bank and the Corporation, as of June 30, 2020, as shown in the attached tables, indicate regulatory capital levels in excess of the regulatory minimums and the levels necessary for the Bank to be considered well capitalized. In March 2020, the U.S. banking agencies issued an interim final rule that provides banking organizations with an alternative option to delay for two years an estimate of CECLs effect on regulatory capital, relative to the incurred loss methodologys effect on regulatory capital, followed by a three-year transition period. The current and prior quarter ratios reflect the Corporation's election of the five-year transition provision.

EARNINGS CONFERENCE CALL

The Corporation will hold an earnings conference call at 8:30 a.m. Eastern Time on Tuesday, July 21, 2020. Interested parties may participate by calling 1-888-317-6016. A taped replay of the conference call will be available one hour after the conclusion of the call and will remain available through 9:00 a.m. Eastern Time on Friday, August 21, 2020. This recording may be obtained by calling 1-877-344-7529, referring to conference number 10145764.

The Corporation will simultaneously broadcast the earnings conference call live over the Internet through a webcast on the investor relations portion of the Corporations website. To access the call via the Internet, please visit the website at http://services.choruscall.com/links/bmtc200721.html. An online archive of the webcast will be available within one hour of the conclusion of the earnings conference call. Within 24 hours after the conclusion of the earnings conference call, an online transcript will be available at the following website: https://platform.mi.spglobal.com/web/client?auth=inherit&overridecdc=1&#company/transcripts?id=100154.

The Corporations decision to hold an earnings conference call for the second quarter of 2020 is not indicative of the Corporations future plans with respect to earnings conference calls, and decisions regarding whether to continue holding earnings conference calls will be made at a future date.

FORWARD LOOKING STATEMENTS AND SAFE HARBOR

This communication 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 Corporations future plans, objectives, performance, revenues, growth, profits, operating expenses or the Corporations underlying assumptions. The words may, would, should, could, will, likely, possibly, expect, anticipate, intend, indicate, estimate, target, potentially, promising, probably, outlook, predict, contemplate, continue, plan, strategy, forecast, project, annualized, are optimistic, are looking, are looking forward and believe or other similar words and phrases may identify forward-looking statements. Persons reading this communication are cautioned that such statements are only predictions, and that the Corporations 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 Corporations 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. The COVID-19 pandemic (the Pandemic) is adversely affecting us, our clients, counterparties, employees, and third-party service providers, and the ultimate extent of the impacts on our business, financial position, results of operations, liquidity, and prospects is uncertain. Continued deterioration in general business and economic conditions, including further increases in unemployment rates, or turbulence in domestic or global financial markets could adversely affect our revenues and the values of our assets and liabilities, reduce the availability of funding, lead to a tightening of credit, and further increase stock price volatility. In addition, changes to statutes, regulations, or regulatory policies or practices as a result of, or in response to the Pandemic, could affect us in substantial and unpredictable ways. Other 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 or accounting standards, including ASU 2016-13 (Topic 326), Measurement of Credit Losses on Financial Instruments, commonly referenced as the Current Expected Credit Loss model, which has changed how we estimate credit losses and may result in further increases in the required level of our allowance for credit losses; unanticipated regulatory or legal proceedings, outcomes of litigation or other contingencies; cybersecurity events; 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; material differences in the actual financial results, cost savings and revenue enhancements associated with our acquisitions; uncertainty regarding the future of LIBOR; the impact of public health issues and pandemics, and their effects on the economic and business environments in which we operate, the effect of the Pandemic, including on our credit quality and business operations, as well as its impact on general economic and financial market conditions; and other factors as described in our securities filings with the U.S. Securities and Exchange Commission (SEC). All forward-looking statements and information set forth herein are based on Corporation managements 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 SEC, including our most recent Annual Report on Form 10-K, as updated by our quarterly or other reports subsequently filed with the SEC, including our most recent Quarterly Report on Form 10-Q.

FOR MORE INFORMATION CONTACT: Frank Leto, President, CEO 610-581-4730 Mike Harrington, CFO 610-526-2466

Bryn Mawr Bank CorporationSummary Financial Information (unaudited)(dollars in thousands, except per share data) As of or For the Three Months Ended For the Six Months Ended June30, March31, December31, September30, June30, June30, June30, 2020 2020 2019 2019 2019 2020 2019Consolidated BalanceSheet (selected items)Interest-bearing $ 448,113 $ 69,239 $ 42,328 $ 86,158 $ 49,643 deposits with banksInvestment 550,974 537,592 1,027,182 625,452 606,844 securitiesLoans held for sale 4,116 2,785 4,249 5,767 6,333 Portfolio loans and 3,722,165 3,767,166 3,689,313 3,540,747 3,534,665 leasesAllowance for creditlosses ("ACL") on (54,974 ) (54,070 ) (22,602 ) (20,777 ) (21,182 ) loans and leasesGoodwill and other 201,315 202,225 203,143 204,096 205,050 intangible assetsTotal assets 5,271,311 4,923,033 5,263,259 4,828,641 4,736,565 Deposits - 3,026,152 2,850,986 2,944,072 2,794,079 2,691,502 interest-bearingDeposits - 1,217,496 927,922 898,173 904,409 940,911 non-interest-bearingShort-term 28,891 162,045 493,219 203,471 207,828 borrowingsLong-term FHLB 44,837 47,303 52,269 44,735 47,941 advancesSubordinated notes 98,794 98,750 98,705 98,660 98,616 Jr. subordinated 21,843 21,798 21,753 21,709 21,665 debenturesTotal liabilities 4,667,637 4,329,854 4,651,032 4,227,706 4,146,410 Total shareholders' 603,674 593,179 612,227 600,935 590,155 equity Average BalanceSheet (selected items)Interest-bearing $ 195,966 $ 50,330 $ 66,060 $ 48,597 $ 37,843 $ 123,148 $ 35,306 deposits with banksInvestment 542,321 542,876 593,289 622,336 587,518 542,598 578,765 securitiesLoans held for sale 3,805 2,319 4,160 4,375 3,353 3,062 2,289 Portfolio loans and 3,936,227 3,736,067 3,594,449 3,528,548 3,520,866 3,836,146 3,498,818 leasesTotalinterest-earning 4,678,319 4,331,592 4,257,958 4,203,856 4,149,580 4,504,954 4,115,178 assetsGoodwill and 201,823 202,760 203,663 204,637 205,593 202,292 206,152 intangible assetsTotal assets 5,226,074 4,844,918 4,775,407 4,760,074 4,651,625 5,035,495 4,598,672 Deposits - 2,969,113 2,853,712 2,799,050 2,776,226 2,794,854 2,911,412 2,734,857 interest-bearingShort-term 136,816 140,585 121,612 169,985 68,529 138,700 112,844 borrowingsLong-term FHLB 46,161 47,335 53,443 45,698 52,397 46,748 53,883 advancesSubordinated notes 98,770 98,725 98,681 98,634 98,587 98,748 98,564 Jr. subordinated 21,814 21,768 21,726 21,680 21,637 21,791 21,616 debenturesTotalinterest-bearing 3,272,674 3,162,125 3,094,512 3,112,223 3,036,004 3,217,399 3,021,764 liabilitiesTotal liabilities 4,625,511 4,229,908 4,168,899 4,164,763 4,070,160 4,427,708 4,021,870 Total shareholders' 600,563 615,010 606,508 595,311 581,465 607,787 576,802 equity Income Statement Net interest income $ 37,385 $ 36,333 $ 35,985 $ 37,398 $ 36,611 $ 73,718 $ 74,258 Provision for loan 4,302 32,335 2,225 919 1,627 36,637 5,363 and lease lossesNoninterest income 22,773 18,300 23,255 19,455 20,221 41,073 39,474 Noninterest expense 36,843 36,418 36,430 35,173 35,188 73,261 74,912 Income tax expense 4,010 (2,957 ) 4,202 4,402 4,239 1,053 7,003 (benefit)Net income (loss) 15,003 (11,163 ) 16,383 16,359 15,778 3,840 26,454 Net lossattributable to (32 ) - (1 ) (1 ) (7 ) (32 ) (8 )noncontrollinginterestNet income (loss)attributable to Bryn 15,035 (11,163 ) 16,384 16,360 15,785 3,872 26,462 Mawr BankCorporationBasic earnings per 0.75 (0.56 ) 0.81 0.81 0.78 0.19 1.31 shareDiluted earnings per 0.75 (0.56 ) 0.81 0.81 0.78 0.19 1.31 shareNet income (loss) 15,399 (11,163 ) 16,384 16,360 15,785 4,236 30,015 (core) ^(1)Basic earnings per 0.77 (0.56 ) 0.81 0.81 0.78 0.21 1.49 share (core) ^(1)Diluted earnings per 0.77 (0.56 ) 0.81 0.81 0.78 0.21 1.48 share (core) ^(1)Dividends paid or 0.26 0.26 0.26 0.26 0.25 0.52 0.50 accrued per shareProfitability IndicatorsReturn on average 1.16 % -0.93 % 1.36 % 1.36 % 1.36 % 0.15 % 1.16 %assetsReturn on average 10.07 % -7.30 % 10.72 % 10.90 % 10.89 % 1.28 % 9.25 %equityReturn on tangible 15.86 % -10.17 % 16.85 % 17.35 % 17.62 % 2.63 % 15.18 %equity^(1)Return on tangible 16.23 % -10.17 % 16.85 % 17.35 % 17.62 % 2.81 % 17.11 %equity (core)^(1)Return on average 1.19 % -0.93 % 1.36 % 1.36 % 1.36 % 0.17 % 1.32 %assets (core)^(1)Return on average 10.31 % -7.30 % 10.72 % 10.90 % 10.89 % 1.40 % 10.49 %equity (core)^(1)Tax-equivalent net 3.22 % 3.38 % 3.36 % 3.54 % 3.55 % 3.30 % 3.65 %interest marginEfficiency ratio^(1) 57.25 % 64.98 % 59.89 % 60.19 % 60.23 % 61.01 % 60.25 %Share Data Closing share price $ 27.66 $ 28.38 $ 41.24 $ 36.51 $ 37.32 Book value per $ 30.29 $ 29.78 $ 30.42 $ 29.86 $ 29.31 common shareTangible book value $ 20.23 $ 19.66 $ 20.36 $ 19.75 $ 19.16 per common sharePrice / book value 91.32 % 95.30 % 135.57 % 122.27 % 127.33 % Price / tangible 136.73 % 144.35 % 202.55 % 184.86 % 194.78 % book valueWeighted averagediluted shares 20,008,219 20,053,159 20,213,008 20,208,630 20,244,409 20,077,159 20,256,469 outstandingShares outstanding, 19,927,893 19,921,524 20,126,296 20,124,193 20,131,854 end of periodWealth Management Information:Wealth assets undermgmt,administration, $ 17,012,903 $ 15,593,732 $ 16,548,060 $ 15,609,786 $ 14,815,298 supervision andbrokerage ^(2)Fees for wealth $ 11,276 $ 11,168 $ 11,672 $ 10,826 $ 11,510 management servicesCapital Ratios^(3) Bryn Mawr Trust Company ("BMTC")Tier I capital torisk weighted assets 11.68 % 11.10 % 11.47 % 12.17 % 11.83 % ("RWA")Total capital to RWA 12.93 % 12.33 % 12.09 % 12.75 % 12.42 % Tier I leverage 8.75 % 9.12 % 9.37 % 9.75 % 9.61 % ratioTangible equity 8.67 % 8.98 % 8.58 % 9.75 % 9.58 % ratio ^(1)Common equity Tier I 11.68 % 11.10 % 11.47 % 12.17 % 11.83 % capital to RWA Bryn Mawr Bank Corporation ("BMBC")Tier I capital to 11.27 % 10.80 % 11.42 % 11.33 % 11.12 % RWATotal capital to RWA 15.14 % 14.62 % 14.69 % 14.61 % 14.44 % Tier I leverage 8.44 % 8.88 % 9.33 % 9.07 % 9.04 % ratioTangible equity 7.95 % 8.30 % 8.10 % 8.60 % 8.51 % ratio ^(1)Common equity Tier I 10.71 % 10.25 % 10.86 % 10.75 % 10.54 % capital to RWA Asset Quality IndicatorsNet loan and lease $ 3,398 $ 4,073 $ 400 $ 1,324 $ 1,061 $ 7,471 $ 3,607 charge-offs ("NCO"s) Loans and leasesrisk-rated Special $ 55,171 $ 14,833 $ 19,922 $ 40,494 $ 14,232 MentionTotal classified 154,687 60,972 66,901 36,192 40,908 loans and leasesTotal criticized $ 209,858 $ 75,805 $ 86,823 $ 76,686 $ 55,140 loans and leases Nonperforming loans $ 8,418 $ 7,557 $ 10,648 $ 14,119 $ 12,179 and leases ("NPL"s)Other real estate - - - 72 155 owned ("OREO")Total nonperforming $ 8,418 $ 7,557 $ 10,648 $ 14,191 $ 12,334 assets ("NPA"s) Nonperforming loansand leases 30 or $ 3,223 $ 3,380 $ 6,314 $ 4,940 $ 8,224 more days past duePerforming loans andleases 30 to 89 days 10,022 19,930 7,196 5,273 9,466 past duePerforming loans andleases 90 or more - - - - - days past dueTotal delinquent $ 13,245 $ 23,310 $ 13,510 $ 10,213 $ 17,690 loans and leases Delinquent loans andleases to total 0.36 % 0.62 % 0.37 % 0.29 % 0.50 % loans and leasesDelinquentperforming loans and 0.27 % 0.53 % 0.19 % 0.15 % 0.27 % leases to totalloans and leasesNCOs / average loansand leases 0.35 % 0.44 % 0.04 % 0.15 % 0.12 % 0.39 % 0.21 %(annualized)NPLs / totalportfolio loans and 0.23 % 0.20 % 0.29 % 0.40 % 0.34 % leasesNPAs / total loans 0.23 % 0.20 % 0.29 % 0.40 % 0.35 % and leases and OREONPAs / total assets 0.16 % 0.15 % 0.20 % 0.29 % 0.26 % ACL on loans and 653.05 % 715.50 % 212.27 % 147.16 % 173.92 % leases / NPLsACL / classified 35.54 % 88.68 % 33.78 % 57.41 % 51.78 % loans and leasesACL / criticized 26.20 % 71.33 % 26.03 % 27.09 % 38.42 % loans and leasesACL on loans andleases / portfolio 1.48 % 1.44 % 0.61 % 0.59 % 0.60 % loansACL on loans andleases fororiginated loans and 1.51 % 1.47 % 0.68 % 0.66 % 0.68 % leases / Originatedloans and leases^(1)(Total ACL on loansand leases + Loanmark) / Total Gross 1.69 % 1.68 % 0.91 % 0.92 % 1.00 % portfolio loans andleases ^(1) Troubled debtrestructurings $ 1,792 $ 3,248 $ 3,018 $ 5,755 $ 4,190 ("TDR"s) included inNPLsTDRs in compliance 10,013 4,852 5,071 5,069 5,141 with modified termsTotal TDRs $ 11,805 $ 8,100 $ 8,089 $ 10,824 $ 9,331 ^(1) Non-GAAP measure - see Appendix for Non-GAAP to GAAP reconciliation.^(2) Brokerage assets represent assets held at a registered broker dealer undera clearing agreement.^(3) Capital Ratios for the current quarter are to be considered preliminaryuntil the Call Reports are filed. The March 31, 2020 and June 30, 2020 ratiosreflect the Corporation?s election of a five-year transition provision to delayfor two years the full impact of CECL on regulatory capital, followed by athree-year transition period.

Bryn Mawr Bank CorporationDetailed Balance Sheets (unaudited)(dollars in thousands) June30, March31, December31, September30, June30, 2020 2020 2019 2019 2019Assets Cash and due from $ 16,408 $ 17,803 $ 11,603 $ 8,582 $ 13,742 banksInterest-bearing 448,113 69,239 42,328 86,158 49,643 deposits with banksCash and cash 464,521 87,042 53,931 94,740 63,385 equivalentsInvestmentsecurities, 530,581 516,466 1,005,984 604,181 588,119 available for saleInvestmentsecurities, held to 12,592 13,369 12,577 12,947 10,209 maturityInvestment 7,801 7,757 8,621 8,324 8,516 securities, tradingLoans held for sale 4,116 2,785 4,249 5,767 6,333 Portfolio loans and 3,422,890 3,424,601 3,320,816 3,137,769 3,088,849 leases, originatedPortfolio loans and 299,275 342,565 368,497 402,978 445,816 leases, acquiredTotal portfolio 3,722,165 3,767,166 3,689,313 3,540,747 3,534,665 loans and leasesLess: Allowance forcredit losses on (51,659 ) (50,365 ) (22,526 ) (20,675 ) (21,076 )originated loan andleasesLess: Allowance forcredit losses on (3,315 ) (3,705 ) (76 ) (102 ) (106 )acquired loan andleasesTotal allowance forcredit losses on (54,974 ) (54,070 ) (22,602 ) (20,777 ) (21,182 )loans and leasesNet portfolio loans 3,667,191 3,713,096 3,666,711 3,519,970 3,513,483 and leasesPremises and 61,778 63,144 64,965 66,439 68,092 equipmentOperating lease 39,348 40,157 40,961 42,200 43,116 right-of-use assetsAccrued interest 15,577 12,017 12,482 12,746 13,312 receivableMortgage servicing 3,440 4,115 4,450 4,580 4,744 rightsBank owned life 59,728 59,399 59,079 58,749 58,437 insuranceFederal Home Loan 4,506 11,928 23,744 16,148 14,677 Bank ("FHLB") stockGoodwill 184,012 184,012 184,012 184,012 184,012 Intangible assets 17,303 18,213 19,131 20,084 21,038 Other investments 17,055 16,786 16,683 16,683 16,517 Other assets 181,762 172,747 85,679 161,071 122,575 Total assets $ 5,271,311 $ 4,923,033 $ 5,263,259 $ 4,828,641 $ 4,736,565 Liabilities Deposits Noninterest-bearing $ 1,217,496 $ 927,922 $ 898,173 $ 904,409 $ 940,911 Interest-bearing 3,026,152 2,850,986 2,944,072 2,794,079 2,691,502 Total deposits 4,243,648 3,778,908 3,842,245 3,698,488 3,632,413 Short-term 28,891 162,045 493,219 203,471 207,828 borrowingsLong-term FHLB 44,837 47,303 52,269 44,735 47,941 advancesSubordinated notes 98,794 98,750 98,705 98,660 98,616 Jr. subordinated 21,843 21,798 21,753 21,709 21,665 debenturesOperating lease 43,693 44,482 45,258 46,506 47,393 liabilitiesAccrued interest 7,907 7,230 6,248 9,015 8,244 payableOther liabilities 178,024 169,338 91,335 105,122 82,310 Total liabilities 4,667,637 4,329,854 4,651,032 4,227,706 4,146,410 Shareholders' equityCommon stock 24,662 24,655 24,650 24,646 24,583 Paid-in capital in 380,167 379,495 378,606 377,806 376,652 excess of par valueLess: common stockheld in treasury, (88,612 ) (88,540 ) (81,174 ) (81,089 ) (78,583 )at costAccumulated othercomprehensive 9,019 8,869 2,187 2,698 1,700 income, net of taxRetained earnings 279,165 269,395 288,653 277,568 266,496 Total Bryn MawrBank Corporation 604,401 593,874 612,922 601,629 590,848 shareholders'equityNoncontrolling (727 ) (695 ) (695 ) (694 ) (693 )interestTotal shareholders' 603,674 593,179 612,227 600,935 590,155 equityTotal liabilitiesand shareholders' $ 5,271,311 $ 4,923,033 $ 5,263,259 $ 4,828,641 $ 4,736,565 equity

Bryn Mawr Bank CorporationSupplemental Balance Sheet Information (unaudited)(dollars in thousands) Portfolio Loans and Leases^(1) as of June30, March31, December31, September30, June30, 2020 2020 2019 2019 2019Commercial realestate - $ 1,375,904 $ 1,354,416 $ 1,337,167 $ 1,238,881 $ 1,217,763 nonowner-occupiedCommercial realestate - 542,688 530,667 527,607 499,202 514,013 owner-occupiedHome equity lines 194,767 209,278 224,262 227,682 231,697 of creditResidentialmortgage - 1st 695,270 710,495 706,690 702,588 704,605 liensResidentialmortgage - junior 33,644 35,583 36,843 37,240 39,063 liensConstruction 212,374 221,116 202,198 195,161 195,269 Total real estate 3,054,647 3,061,555 3,034,767 2,900,754 2,902,410 loansCommercial & 457,529 491,298 432,227 426,084 419,936 IndustrialConsumer 43,762 45,951 57,241 50,760 49,453 Leases 166,227 168,362 165,078 163,149 162,866 Total non-realestate loans and 667,518 705,611 654,546 639,993 632,255 leasesTotal portfolio $ 3,722,165 $ 3,767,166 $ 3,689,313 $ 3,540,747 $ 3,534,665 loans and leases Nonperforming Loans and Leases^(1) as of June30, March31, December31, September30, June30, 2020 2020 2019 2019 2019Commercial realestate - $ 245 $ 181 $ 199 $ 3,055 $ 3,147 nonowner-occupiedCommercial realestate - 4,046 2,543 4,159 4,535 2,470 owner-occupiedHome equity lines 915 758 636 693 470 of creditResidentialmortgage - 1st 912 1,080 2,447 2,693 3,102 liensResidentialmortgage - junior 72 79 83 84 72 liensTotalnonperforming 6,190 4,641 7,524 11,060 9,261 real estate loansCommercial & 1,973 2,692 2,180 1,991 2,056 IndustrialConsumer 36 52 61 75 60 Leases 219 172 883 993 802 Totalnonperforming 2,228 2,916 3,124 3,059 2,918 non-real estateloans and leasesTotalnonperforming $ 8,418 $ 7,557 $ 10,648 $ 14,119 $ 12,179 portfolio loansand leases Net Loan and Lease Charge-Offs (Recoveries)^(1) for the Three Months Ended June30, March31, December31, September30, June30, 2020 2020 2019 2019 2019Commercial realestate - $ (4 ) $ (2 ) $ (1,067 ) $ (7 ) $ (4 )nonowner-occupiedCommercial realestate - 1,234 - 190 680 - owner-occupiedHome equity lines (4 ) 114 33 (22 ) 128 of creditResidentialmortgage - 1st 420 727 378 (7 ) 339 liensResidentialmortgage - junior - - - - 52 liensConstruction (1 ) (1 ) (1 ) (1 ) (1 )Total netcharge-offs of 1,645 838 (467 ) 643 514 real estate loansCommercial & 499 612 57 (15 ) (17 )IndustrialConsumer 238 261 227 187 119 Leases 1,016 2,362 583 509 445 Total netcharge-offs of 1,753 3,235 867 681 547 non-real estateloans and leasesTotal net $ 3,398 $ 4,073 $ 400 $ 1,324 $ 1,061 charge-offs ^(1) In conjunction with the adoption of CECL, the Corporation has revised itsportfolio segmentation to align with the methodology applied in determining theACL for loans and leases under CECL, which is based on federal call reportcodes, or collateral. Portfolio segmentation prior to the adoption of CECL wasbased on product type or purpose. As such, certain reclassifications were madeto conform previous years to the current year's presentation.

Bryn Mawr Bank CorporationSupplemental Balance Sheet Information (unaudited)(dollars in thousands) Investment Securities Available for Sale, at Fair Value June30, March31, December31, September30, June30, 2020 2020 2019 2019 2019U.S. Treasury $ 100 $ 101 $ 500,101 $ 101 $ 101 securitiesObligations of theU.S. Government and 114,149 106,679 102,020 172,753 192,799 agenciesState & politicalsubdivisions - 4,583 4,562 5,379 6,327 6,700 tax-freeState & politicalsubdivisions - - - - - 170 taxableMortgage-backed 377,204 374,775 366,002 388,891 348,975 securitiesCollateralizedmortgage 25,873 29,699 31,832 35,459 38,724 obligationsCorporate bonds 8,022 - - - - Other debt 650 650 650 650 650 securitiesTotal investmentsecurities $ 530,581 $ 516,466 $ 1,005,984 $ 604,181 $ 588,119 available for sale,at fair value Unrealized Gain (Loss) on Investment Securities Available for Sale June30, March31, December31, September30, June30, 2020 2020 2019 2019 2019U.S. Treasury $ - $ 1 $ 35 $ 1 $ 1 securitiesObligations of theU.S. Government and 1,103 1,036 (159 ) 188 275 agenciesState & politicalsubdivisions - 30 10 13 8 8 tax-freeMortgage-backed 11,683 11,554 5,025 4,605 3,364 securitiesCollateralizedmortgage 702 778 36 180 89 obligationsCorporate bonds 22 - - - - Total unrealizedgains (losses) oninvestment $ 13,540 $ 13,379 $ 4,950 $ 4,982 $ 3,737 securitiesavailable for sale Deposits June30, March31, December31, September30, June30, 2020 2020 2019 2019 2019Interest-bearing deposits:Interest-bearing $ 910,441 $ 750,127 $ 944,915 $ 778,809 $ 745,134 demandMoney market 1,239,523 1,133,952 1,106,478 983,170 966,596 Savings 249,636 247,799 220,450 248,539 263,830 Retail time 400,186 406,828 405,123 467,346 502,745 depositsWholesalenon-maturity 146,463 198,888 177,865 274,121 100,047 depositsWholesale time 79,903 113,392 89,241 42,094 113,150 depositsTotalinterest-bearing 3,026,152 2,850,986 2,944,072 2,794,079 2,691,502 depositsNoninterest-bearing 1,217,496 927,922 898,173 904,409 940,911 depositsTotal deposits $ 4,243,648 $ 3,778,908 $ 3,842,245 $ 3,698,488 $ 3,632,413

Bryn Mawr Bank CorporationDetailed Income Statements (unaudited)(dollars in thousands, except per share data) For the Three Months Ended For the Six Months Ended June30, March31, December31, September30, June30, June30, June30, 2020 2020 2019 2019 2019 2020 2019Interest income:Interest andfees on loans $ 40,690 $ 42,795 $ 43,220 $ 45,527 $ 44,783 $ 83,485 $ 89,620 and leasesInterest oncash and cash 37 111 195 143 73 148 205 equivalentsInterest oninvestment 2,894 3,201 3,545 3,903 3,532 6,095 7,031 securitiesTotal interest 43,621 46,107 46,960 49,573 48,388 89,728 96,856 incomeInterest expense:Interest on 4,476 7,637 8,674 9,510 9,655 12,113 17,752 depositsInterest onshort-term 232 453 555 937 357 685 1,300 borrowingsInterest on 155 244 279 243 269 399 547 FHLB advancesInterest onjr. 229 295 323 340 352 524 710 subordinateddebenturesInterest onsubordinated 1,144 1,145 1,144 1,145 1,144 2,289 2,289 notesTotal interest 6,236 9,774 10,975 12,175 11,777 16,010 22,598 expenseNet interest 37,385 36,333 35,985 37,398 36,611 73,718 74,258 incomeProvision forcredit losses("PCL") on 4,302 32,335 2,225 919 1,627 36,637 5,363 loans andleasesNet interestincome after 33,083 3,998 33,760 36,479 34,984 37,081 68,895 PCL on loansand leasesNoninterest income:Fees forwealth 11,276 11,168 11,672 10,826 11,510 22,444 21,902 managementservicesInsurance 1,303 1,533 1,666 1,842 1,697 2,836 3,369 commissionsCapitalmarkets 2,975 2,361 5,455 2,113 1,489 5,336 3,708 revenueServicecharges on 603 846 858 856 852 1,449 1,660 depositsLoan servicing 452 461 489 555 553 913 1,162 and other feesNet gain on 3,134 782 597 674 752 3,916 1,071 sale of loansNet gain(loss) on sale - 148 (48 ) (12 ) - 148 (24 )of other realestate ownedDividends onFHLB and FRB 243 444 432 346 316 687 727 stocksOtheroperating 2,787 557 2,134 2,255 3,052 3,344 5,899 incomeTotalnoninterest 22,773 18,300 23,255 19,455 20,221 41,073 39,474 incomeNoninterest expense:Salaries and 16,926 16,989 18,667 17,765 17,038 33,915 37,939 wagesEmployee 3,221 3,500 2,685 3,288 3,317 6,721 7,483 benefitsOccupancy and 3,033 3,015 3,206 3,008 3,125 6,048 6,377 bank premisesFurniture,fixtures and 2,120 2,431 2,401 2,335 2,568 4,551 4,957 equipmentAdvertising 196 401 599 587 504 597 919 Amortizationof intangible 910 918 953 954 956 1,828 1,894 assetsImpairment(recovery) ofmortgage 222 231 13 (19 ) 10 453 27 servicingrights("MSRs")Professional 1,575 1,368 1,754 1,044 1,316 2,943 2,636 feesPennsylvaniabank shares 116 116 42 514 513 232 922 taxData 1,479 1,394 1,517 1,377 1,303 2,873 2,623 processingOtheroperating 7,045 6,055 4,593 4,320 4,538 13,100 9,135 expensesTotalnoninterest 36,843 36,418 36,430 35,173 35,188 73,261 74,912 expenseIncome (loss)before income 19,013 (14,120 ) 20,585 20,761 20,017 4,893 33,457 taxesIncome taxexpense 4,010 (2,957 ) 4,202 4,402 4,239 1,053 7,003 (benefit)Net income $ 15,003 $ (11,163 ) $ 16,383 $ 16,359 $ 15,778 $ 3,840 $ 26,454 (loss)Net (loss)attributableto (32 ) - (1 ) (1 ) (7 ) (32 ) (8 )noncontrollinginterestNet income(loss)attributable $ 15,035 $ (11,163 ) $ 16,384 $ 16,360 $ 15,785 $ 3,872 $ 26,462 to Bryn MawrBankCorporation Per share data:Weightedaverage shares 19,926,737 20,053,159 20,124,553 20,132,117 20,144,651 19,989,948 20,156,509 outstandingDilutive 81,482 - 88,455 76,513 99,758 87,211 99,960 common sharesWeightedaverage 20,008,219 20,053,159 20,213,008 20,208,630 20,244,409 20,077,159 20,256,469 diluted sharesBasic earningsper common $ 0.75 $ (0.56 ) $ 0.81 $ 0.81 $ 0.78 $ 0.19 $ 1.31 shareDilutedearnings per $ 0.75 $ (0.56 ) $ 0.81 $ 0.81 $ 0.78 $ 0.19 $ 1.31 common shareDividends paidor accrued per $ 0.26 $ 0.26 $ 0.26 $ 0.26 $ 0.25 $ 0.52 $ 0.50 common shareEffective tax 21.09 % 20.94 % 20.41 % 21.20 % 21.18 % 21.52 % 20.93 %rate

Bryn Mawr Bank CorporationTax-Equivalent Net Interest Margin (unaudited)(dollars in thousands) For the Three Months Ended For the Six Months Ended June30, March31, December31, September30, June30, June30, 2020 2020 2019 2019 2019 2020June30, 2019 Average Rates Earned/ Interest Average Interest Average Interest Average Interest Average Interest Average Interest PaidAverage Average Income/ Rates Average Income/ Rates Average Income/ Rates Average Income/ Rates Average Income/ Rates Average Income/ BalanceInterest Balance Expense Earned/ Balance Expense Earned/ Balance Expense Earned/ Balance Expense Earned/ Balance Expense Earned/ Balance Expense Income/ Paid Paid Paid Paid Paid ExpenseAverage Rates Earned/ Paid Assets: Interest-bearingdeposits with other $ 195,966 $ 37 0.08 % $ 50,330 $ 111 0.89 % $ 66,060 $ 195 1.17 % $ 48,597 $ 143 1.17 % $ 37,843 $ 73 0.77 % $ 123,148 $ 148 0.24 %$35,306$2051.17%banksInvestmentsecurities - available for sale:Taxable 516,823 2,775 2.16 % 516,244 3,065 2.39 % 566,359 3,334 2.34 % 594,975 3,765 2.51 % 560,999 3,400 2.43 % 516,534 5,840 2.27 %552,3916,7632.47%Tax-exempt 4,572 26 2.29 % 4,909 28 2.29 % 5,844 33 2.24 % 6,594 36 2.17 % 7,530 43 2.29 % 4,740 54 2.29 %8,656982.28%Total investmentsecurities - 521,395 2,801 2.16 % 521,153 3,093 2.39 % 572,203 3,367 2.33 % 601,569 3,801 2.51 % 568,529 3,443 2.43 % 521,274 5,894 2.27 %561,0476,8612.47%available for sale Investmentsecurities - held 13,126 73 2.24 % 13,195 87 2.65 % 12,756 84 2.61 % 12,360 80 2.57 % 10,417 71 2.73 % 13,160 160 2.44 %9,6151382.89%to maturityInvestmentsecurities - 7,800 24 1.24 % 8,528 25 1.18 % 8,330 99 4.72 % 8,407 27 1.27 % 8,572 24 1.12 % 8,164 49 1.21 %8,103461.14%trading Loans and leases * 3,940,032 40,779 4.16 % 3,738,386 42,898 4.62 % 3,598,609 43,326 4.78 % 3,532,923 45,642 5.13 % 3,524,219 44,903 5.11 % 3,839,208 83,677 4.38 %3,501,10789,8615.18% Totalinterest-earning 4,678,319 43,714 3.76 % 4,331,592 46,214 4.29 % 4,257,958 47,071 4.39 % 4,203,856 49,693 4.69 % 4,149,580 48,514 4.69 % 4,504,954 89,928 4.01 %4,115,17897,1114.76%assets Cash and due from 16,263 12,479 9,829 12,890 13,725 14,371 14,068banksLess: allowance forloan and lease (54,113 ) (25,786 ) (21,124 ) (21,438 ) (20,844 ) (39,950 ) (20,368)lossesOther assets 585,605 526,633 528,744 564,766 509,164 556,120 489,794 Total assets $ 5,226,074 $ 4,844,918 $ 4,775,407 $ 4,760,074 $ 4,651,625 $ 5,035,495 $4,598,672 Liabilities: Interest-bearing deposits:Savings, NOW andmarket rate $ 2,313,150 $ 2,341 0.41 % $ 2,197,279 $ 4,981 0.91 % $ 2,149,623 $ 5,659 1.04 % $ 1,996,181 $ 5,445 1.08 % $ 1,928,755 $ 5,040 1.05 % $ 2,255,215 $ 7,322 0.65 %$1,863,790$8,8040.95%depositsWholesale deposits 245,052 486 0.80 % 253,322 977 1.55 % 214,229 1,024 1.90 % 299,309 1,729 2.29 % 345,782 2,143 2.49 % 249,186 1,463 1.18 %344,2474,1552.43%Retail time 410,911 1,649 1.61 % 403,111 1,679 1.68 % 435,198 1,991 1.82 % 480,736 2,336 1.93 % 520,317 2,472 1.91 % 407,011 3,328 1.64 %526,8204,7931.83%depositsTotalinterest-bearing 2,969,113 4,476 0.61 % 2,853,712 7,637 1.08 % 2,799,050 8,674 1.23 % 2,776,226 9,510 1.36 % 2,794,854 9,655 1.39 % 2,911,412 12,113 0.84 %2,734,85717,7521.31%deposits Borrowings: Short-term 136,816 232 0.68 % 140,585 453 1.30 % 121,612 555 1.81 % 169,985 937 2.19 % 68,529 357 2.09 % 138,700 685 0.99 %112,8441,3002.32%borrowingsLong-term FHLB 46,161 155 1.35 % 47,335 244 2.07 % 53,443 279 2.07 % 45,698 243 2.11 % 52,397 269 2.06 % 46,748 399 1.72 %53,8835472.05%advancesSubordinated notes 98,770 1,144 4.66 % 98,725 1,145 4.66 % 98,681 1,144 4.60 % 98,634 1,145 4.61 % 98,587 1,144 4.65 % 98,748 2,289 4.66 %98,5642,2894.68%Jr. subordinated 21,814 229 4.22 % 21,768 295 5.45 % 21,726 323 5.90 % 21,680 340 6.22 % 21,637 352 6.53 % 21,791 524 4.84 %21,6167106.62%debtTotal borrowings 303,561 1,760 2.33 % 308,413 2,137 2.79 % 295,462 2,301 3.09 % 335,997 2,665 3.15 % 241,150 2,122 3.53 % 305,987 3,897 2.56 %286,9074,8463.41% Totalinterest-bearing 3,272,674 6,236 0.77 % 3,162,125 9,774 1.24 % 3,094,512 10,975 1.41 % 3,112,223 12,175 1.55 % 3,036,004 11,777 1.56 % 3,217,399 16,010 1.00 %3,021,76422,5981.51%liabilities Noninterest-bearing 1,126,139 894,264 915,128 903,314 909,945 1,010,202 890,941depositsOther liabilities 226,698 173,519 159,259 149,226 124,211 200,107 109,165Totalnoninterest-bearing 1,352,837 1,067,783 1,074,387 1,052,540 1,034,156 1,210,309 1,000,106liabilities Total liabilities 4,625,511 4,229,908 4,168,899 4,164,763 4,070,160 4,427,708 4,021,870 Shareholders' 600,563 615,010 606,508 595,311 581,465 607,787 576,802equity Total liabilitiesand shareholders' $ 5,226,074 $ 4,844,918 $ 4,775,407 $ 4,760,074 $ 4,651,625 $ 5,035,495 $4,598,672equity Net interest spread 2.99 % 3.05 % 2.98 % 3.14 % 3.13 % 3.01 %3.25%Effect ofnoninterest-bearing 0.23 % 0.33 % 0.38 % 0.40 % 0.42 % 0.29 %0.40%sources Tax-equivalent net $ 37,478 3.22 % $ 36,440 3.38 % $ 36,096 3.36 % $ 37,518 3.54 % $ 36,737 3.55 % $ 73,918 3.30 %$74,5133.65%interest margin Tax-equivalent $ 93 0.01 % $ 107 0.01 % $ 111 0.01 % $ 120 0.01 % $ 126 0.01 % $ 200 0.01 %$2550.01%adjustment Supplemental Information Regarding Accretion of Fair Value Marks Increase Effect on Increase Effect on Increase Effect on Increase Effect on Increase Effect on Increase Effect on Yield or RateIncrease Interest (Decrease) Yield or (Decrease) Yield or (Decrease) Yield or (Decrease) Yield or (Decrease) Yield or (Decrease) (Decrease)Effect on Yield or Rate Rate Rate Rate Rate RateLoans and leases Income $ 1,017 0.10 % $ 910 0.10 % $ 1,027 0.11 % $ 1,501 0.17 % $ 1,193 0.14 % $ 1,927 0.10 %$3,1900.18%Retail time Expense $ (103 ) -0.10 % $ (118 ) -0.12 % $ (134 ) -0.12 % $ (151 ) -0.12 % $ (171 ) -0.13 % (221 ) -0.11 %(393)-0.15%depositsLong-term FHLB Expense $ 35 0.30 % $ 34 0.29 % $ 34 0.25 % $ 34 0.30 % $ 34 0.26 % 69 0.30 %670.25%advancesJr. subordinated Expense $ 45 0.83 % $ 45 0.83 % $ 44 0.80 % $ 44 0.81 % $ 43 0.80 % 90 0.83 %850.79%debtNet interest incomefrom fair value $ 1,040 $ 949 $ 1,083 $ 1,574 $ 1,287 $ 1,989 $3,431marksPurchase accountingeffect on 0.09 % 0.09 % 0.10 % 0.15 % 0.12 % 0.09 %0.17%tax-equivalentmargin * Average loans and leases include portfolio loans and leases, and loans heldfor sale. Non-accrual loans are also included in the average loan and leasesbalances.

Bryn Mawr Bank CorporationAppendix - Non-GAAP to GAAP Reconciliations and Calculation of Non-GAAPPerformance Measures (unaudited)(dollars in thousands, except per share data) Statement on Non-GAAP Measures: The Corporation believes the presentation ofthe following non-GAAP financial measures provides useful supplementalinformation that is essential to an investor?s proper understanding of theresults of operations and financial condition of the Corporation. Managementuses non-GAAP financial measures in its analysis of the Corporation?sperformance. These non-GAAP measures should not be viewed as substitutes forthe financial measures determined in accordance with GAAP, nor are theynecessarily comparable to non-GAAP performance measures that may be presentedby other companies. As of or For the Three Months Ended As of or For the Six Months Ended June30, March31, December31, September30, June30, June30, June30, 2020 2020 2019 2019 2019 2020 2019Reconciliationof Net Income to Net Income(core):Net income(loss)attributable $ 15,035 $ (11,163 ) $ 16,384 $ 16,360 $ 15,785 $ 3,872 $ 26,462 to BMBC (aGAAP measure)Less:Tax-effectednon-core noninterestincome:Gain on sale (1,905 ) - - - - (1,905 ) - of PPP loansAdd:Tax-effectednon-core noninterestexpense items:Voluntaryyears ofservice - - - - - - 3,553 incentiveprogramexpensesBMT InvestmentAdvisers 1,844 - - - - 1,844 - wind-downcostsSeveranceassociated 425 - - - - 425 - with staffreductionNet income(loss) (core) $ 15,399 $ (11,163 ) $ 16,384 $ 16,360 $ 15,785 $ 4,236 $ 30,015 (a non-GAAPmeasure) Calculation ofBasic andDiluted Earnings perCommon Share(core):Weightedaverage common 19,926,737 20,053,159 20,124,553 20,132,117 20,144,651 19,989,948 20,156,509 sharesoutstandingDilutive 81,482 - 88,455 76,513 99,758 87,211 99,960 common sharesWeightedaverage 20,008,219 20,053,159 20,213,008 20,208,630 20,244,409 20,077,159 20,256,469 diluted sharesBasic earningsper commonshare (core) $ 0.77 $ (0.56 ) $ 0.81 $ 0.81 $ 0.78 $ 0.21 $ 1.49 (a non-GAAPmeasure)Dilutedearnings percommon share $ 0.77 $ (0.56 ) $ 0.81 $ 0.81 $ 0.78 $ 0.21 $ 1.48 (core) (anon-GAAPmeasure) Calculation ofReturn onAverage TangibleEquity:Net income(loss)attributable $ 15,035 $ (11,163 ) $ 16,384 $ 16,360 $ 15,785 $ 3,872 $ 26,462 to BMBC (aGAAP measure)Add:Tax-effectedamortization 719 725 753 754 755 1,444 1,496 and impairmentof intangibleassetsNet tangibleincome ( $ 15,754 $ (10,438 ) $ 17,137 $ 17,114 $ 16,540 $ 5,316 $ 27,958 numerator) Averageshareholders' $ 600,563 $ 615,010 $ 606,508 $ 595,311 $ 581,465 $ 607,787 $ 576,802 equityLess: AverageNoncontrolling 696 695 694 693 688 695 687 interestLess: Averagegoodwill and (201,823 ) (202,760 ) (203,663 ) (204,637 ) (205,593 ) (202,292 ) (206,152 )intangibleassetsNet averagetangible $ 399,436 $ 412,945 $ 403,539 $ 391,367 $ 376,560 $ 406,190 $ 371,337 equity (denominator) Return ontangibleequity (a 15.86 % -10.17 % 16.85 % 17.35 % 17.62 % 2.63 % 15.18 %non-GAAPmeasure) Calculation ofReturn onAverage TangibleEquity (core):Net income(loss) (core) $ 15,399 $ (11,163 ) $ 16,384 $ 16,360 $ 15,785 $ 4,236 $ 30,015 (a non-GAAPmeasure)Add:Tax-effectedamortization 719 725 753 754 755 1,444 1,496 and impairmentof intangibleassetsNet tangibleincome (loss) $ 16,118 $ (10,438 ) $ 17,137 $ 17,114 $ 16,540 $ 5,680 $ 31,511 (core) (numerator) Averageshareholders' $ 600,563 $ 615,010 $ 606,508 $ 595,311 $ 581,465 $ 607,787 $ 576,802 equityLess: AverageNoncontrolling 696 695 694 693 688 695 687 interestLess: Averagegoodwill and (201,823 ) (202,760 ) (203,663 ) (204,637 ) (205,593 ) (202,292 ) (206,152 )intangibleassetsNet averagetangible $ 399,436 $ 412,945 $ 403,539 $ 391,367 $ 376,560 $ 406,190 $ 371,337 equity (denominator) Return ontangibleequity (core) 16.23 % -10.17 % 16.85 % 17.35 % 17.62 % 2.81 % 17.11 %(a non-GAAPmeasure) Calculation ofTangible Equity Ratio(BMBC):Totalshareholders' $ 603,674 $ 593,179 $ 612,227 $ 600,935 $ 590,155 equityLess:Noncontrolling 727 695 695 694 693 interestLess: Goodwilland intangible (201,315 ) (202,225 ) (203,143 ) (204,096 ) (205,050 ) assetsNet tangibleequity ( $ 403,086 $ 391,649 $ 409,779 $ 397,533 $ 385,798 numerator) Total assets $ 5,271,311 $ 4,923,033 $ 5,263,259 $ 4,828,641 $ 4,736,565 Less: Goodwilland intangible (201,315 ) (202,225 ) (203,143 ) (204,096 ) (205,050 ) assetsTangibleassets ( $ 5,069,996 $ 4,720,808 $ 5,060,116 $ 4,624,545 $ 4,531,515 denominator) Tangibleequity ratio 7.95 % 8.30 % 8.10 % 8.60 % 8.51 % (BMBC)^(1) Calculation ofTangible Equity Ratio(BMTC):Totalshareholders' $ 639,711 $ 624,959 $ 624,030 $ 641,565 $ 625,464 equityLess:Noncontrolling 727 695 695 694 693 interestLess: Goodwilland intangible (201,069 ) (201,979 ) (190,694 ) (191,572 ) (192,450 ) assetsNet tangibleequity ( $ 439,369 $ 423,675 $ 434,031 $ 450,687 $ 433,707 numerator) Total assets $ 5,267,536 $ 4,919,004 $ 5,247,649 $ 4,813,704 $ 4,721,394 Less: Goodwilland intangible (201,069 ) (201,979 ) (190,694 ) (191,572 ) (192,450 ) assetsTangibleassets ( $ 5,066,467 $ 4,717,025 $ 5,056,955 $ 4,622,132 $ 4,528,944 denominator) Tangibleequity ratio 8.67 % 8.98 % 8.58 % 9.75 % 9.58 % (BMTC)^(1) Calculation ofReturn on Average Assets(core)Return onaverage assets 1.16 % -0.93 % 1.36 % 1.36 % 1.36 % 0.15 % 1.16 %(GAAP)Effect ofadjustment toGAAP net 0.03 % 0.00 % 0.00 % 0.00 % 0.00 % 0.02 % 0.16 %income to corenet incomeReturn onaverage assets 1.19 % -0.93 % 1.36 % 1.36 % 1.36 % 0.17 % 1.32 %(core) Calculation ofReturn on Average Equity(core)Return onaverage equity 10.07 % -7.30 % 10.72 % 10.90 % 10.89 % 1.28 % 9.25 %(GAAP)Effect ofadjustment toGAAP net 0.24 % 0.00 % 0.00 % 0.00 % 0.00 % 0.12 % 1.24 %income to corenet incomeReturn onaverage equity 10.31 % -7.30 % 10.72 % 10.90 % 10.89 % 1.40 % 10.49 %(core) Calculation ofTax-equivalentnet interestmargin adjusting forthe impact ofpurchaseaccounting:Tax-equivalentnet interest 3.22 % 3.38 % 3.36 % 3.54 % 3.55 % 3.30 % 3.65 %marginEffect of fair 0.09 % 0.09 % 0.10 % 0.15 % 0.12 % 0.09 % 0.17 %value marksTax-equivalentnet interestmarginadjusting for 3.13 % 3.29 % 3.26 % 3.39 % 3.43 % 3.21 % 3.48 %the impact ofpurchaseaccounting ^(1)Capital Ratios for the current quarter are to be considered preliminaryuntil the Call Reports are filed. The March 31, 2020 and June 30, 2020 ratiosreflect the Corporation?s election of a five-year transition provision to delayfor two years the full impact of CECL on regulatory capital, followed by athree-year transition period.

Calculation of Tax-equivalent net interest income adjusting for the impact ofpurchase accounting:Tax-equivalentnet interest $ 37,478 $ 36,440 $ 36,096 $ 37,518 $ 36,737 $ 73,918 $ 74,513 incomeEffect of fair 1,040 949 1,083 1,574 1,287 1,989 3,431 value marksTax-equivalentnet interestincomeadjusting for $ 36,438 $ 35,491 $ 35,013 $ 35,944 $ 35,450 $ 71,929 $ 71,082 the impact ofpurchaseaccounting Calculation ofEfficiency Ratio:Noninterest $ 36,843 $ 36,418 $ 36,430 $ 35,173 $ 35,188 $ 73,261 $ 74,912 expenseLess: certainnoninterest expenseitems*:Amortization (910 ) (918 ) (953 ) (954 ) (956 ) (1,828 ) (1,894 )of intangiblesVoluntaryyears ofservice - - - - - - (4,498 )incentiveprogramexpensesBMT InvestmentAdvisers, Inc. (2,334 ) - - - - (2,334 ) - wind-downcostsSeveranceassociated (538 ) - - - - (538 ) - with staffreductionNoninterestexpense $ 33,061 $ 35,500 $ 35,477 $ 34,219 $ 34,232 $ 68,561 $ 68,520 (adjusted) (numerator) Noninterest $ 22,773 $ 18,300 $ 23,255 $ 19,455 $ 20,221 $ 41,073 $ 39,474 incomeLess: non-corenoninterest income items:Gain on sale (2,411 ) - - - - (2,411 ) - of PPP loansNoninterest $ 20,362 $ 18,300 $ 23,255 $ 19,455 $ 20,221 $ 38,662 $ 39,474 income (core)Net interest 37,385 36,333 35,985 37,398 36,611 73,718 74,258 incomeNoninterestincome (core)and net $ 57,747 $ 54,633 $ 59,240 $ 56,853 $ 56,832 $ 112,380 $ 113,732 interestincome (denominator) Efficiency 57.25 % 64.98 % 59.89 % 60.19 % 60.23 % 61.01 % 60.25 %ratio* In calculating the Corporation's efficiency ratio, which is used byManagement to identify the cost of generating each dollar of core revenue,certain non-core income and expense items as well as the amortization ofintangible assets, are excluded. Supplemental Loan and ACL on Loans and Leases Information Used to CalculateNon-GAAP Measures Total ACL onloans and $ 54,974 $ 54,070 $ 22,602 $ 20,777 $ 21,182 leasesLess: ACL onacquired loans 3,315 3,705 76 102 106 and leasesACL onoriginated $ 51,659 $ 50,365 $ 22,526 $ 20,675 $ 21,076 loans andleases Total ACL onloans and $ 54,974 $ 54,070 $ 22,602 $ 20,777 $ 21,182 leasesLoan mark onacquired loans 8,037 9,478 10,905 11,948 14,174 and leasesTotal ACL onloans and $ 63,011 $ 63,548 $ 33,507 $ 32,725 $ 35,356 leases + Loanmark TotalPortfolio $ 3,722,165 $ 3,767,166 $ 3,689,313 $ 3,540,747 $ 3,534,665 loans andleasesLess:Originated 3,422,890 3,424,601 3,320,816 3,137,769 3,088,849 loans andleasesNet acquired $ 299,275 $ 342,565 $ 368,497 $ 402,978 $ 445,816 loansAdd: Loan markon acquired 8,037 9,478 10,905 11,948 14,174 loansGross acquiredloans $ 307,312 $ 352,043 $ 379,402 $ 414,926 $ 459,990 (excludes loanmark)Originatedloans and 3,422,890 3,424,601 3,320,816 3,137,769 3,088,849 leasesTotal Grossportfolio $ 3,730,202 $ 3,776,644 $ 3,700,218 $ 3,552,695 $ 3,548,839 loans andleases