BRYN MAWR, Pa., April 02, 2018 (GLOBE NEWSWIRE) -- Bryn Mawr Trust (“BMT”), wholly owned by Bryn Mawr Bank Corporation (NASDAQ:BMTC) (the “Corporation”), announced today that their insurance and risk management subsidiary Powers Craft Parker & Beard, Inc. (“Powers Craft”) is now BMT Insurance Advisors (“BMTIA”). Edward F. Lee, CPCU® will continue as President of BMTIA.
“Customers have found tremendous value and comfort in our growing insurance and risk management expertise,” said BMBC President and CEO Frank Leto. “The BMT brand is strong – trusted and with top-of-mind awareness. The rebranding to BMT Insurance Advisors is a natural progression, capitalizing on one cohesive brand. It is an exciting time for BMT.”
BMT acquired Powers Craft in October 2014 to bolster their existing insurance subsidiary Insurance, Counsellors of Bryn Mawr, that began operations in 1998. BMT has subsequently made two additional acquisitions in the insurance space. The line of business has become an important source of noninterest income for the Corporation.
BMTIA is an independent insurance brokerage and risk management consulting firm that builds customized insurance solutions to suit specific customer needs. They are licensed to do business in forty-one states. BMTIA partners with all BMT divisions – including Wealth Management, Private Banking, Leasing, Consumer Banking, and Commercial Banking – to assist in developing strategies for customers. Visit bmtc.com/insurance for more information.
Bryn Mawr Bank Corporation (NASDAQ:BMTC), including its principal subsidiary, The Bryn Mawr Trust Company (founded in 1889; headquartered in Bryn Mawr, Pa.), is a locally managed financial services company providing retail and commercial banking, trust administration and wealth management, and insurance solutions. Bryn Mawr Bank Corporation has $4.45 billion in corporate assets and $13 billion in wealth assets under management, administration, supervision, and brokerage (as of 12/31/17). Today, BMT operates 44 banking locations in Montgomery, Chester, Delaware, Philadelphia and Berks Counties in Pennsylvania, New Castle County in Delaware and Camden County in New Jersey. For more information, visit bmtc.com.
