Bryn Mawr Bank (BMTC) 8-K Results of Operations and Financial Condition

Exhibit 99.1

Bryn Mawr Bank Corporation

FOR RELEASE:

IMMEDIATELY

FOR MORE INFORMATION CONTACT:	Ted Peters, Chairman
	610-581-4800
	J. Duncan Smith, CFO
	610-526-2466

Bryn Mawr Bank Corporation

Reports Fourth Quarter and Full Year 2008 Financial Results

Board Declares $0.14 per Share Quarterly Dividend

BRYN MAWR, Pa. January 29, 2009 - Bryn Mawr Bank Corporation (NASDAQ: BMTC), (the “Corporation”), parent of The Bryn Mawr Trust Company (the “Bank”), today announced financial results for the fourth quarter and fiscal year ended December 31, 2008. The Corporation reported fourth quarter 2008 diluted earnings per share of $0.12 and net income of $1.0 million compared to fourth quarter 2007 results of $0.36 and $3.1 million respectively. The Corporation reported twelve month 2008 diluted earnings per share of $1.08 compared to $1.58 for 2007. Net income for the year ended December 31, 2008 was $9.3 million compared to $13.6 million one year ago. Excluding a real estate gain recognized in the first quarter of 2007, diluted earnings per share were $1.48 and net income was $12.7 million.

Ted Peters, Chairman and Chief Executive Officer, stated, “Bryn Mawr Bank Corporation and Bryn Mawr Trust Company are both ‘well-capitalized for regulatory capital purposes’. During 2008 Bryn Mawr has grown both its loan and lease portfolio and the number of new deposit accounts opened in the quarter, despite a weak economy and unprecedented disruption in the financial markets. However, bottom line results in the fourth quarter reflect the impact of lower financial market values on our wealth management revenues, an impairment to the value of our mortgage servicing portfolio, and an increase in the loan and lease loss provision, primarily related to our leasing portfolio.”

Mr. Peters continued, “We successfully opened our West Chester Regional Office and The Bryn Mawr Trust Company of Delaware, completing a year of progress towards our long-term growth strategy. These openings expanded our footprint into two attractive geographic markets and provide us with a broader portfolio of products to serve the affluent markets we target. We are confident that our disciplined strategies to maintain a strong financial position and to build our brand have strengthened Bryn Mawr’s banking and wealth management services leadership, the foundation of our growth and prosperity for over 100 years.”

Significant items:

• Total quarter end portfolio loans and leases were up 12.0% to $899.6 million compared to $802.9 million at December 31, 2007, led by strong growth in commercial mortgages, commercial and industrial loans, residential mortgages and home equity loans.

• Year-end deposit levels were $869.5 million, up $20.0 million from a year ago, and fourth quarter 2008 average deposit balances of $845.1 million increased 11.5% from the fourth quarter 2007.

• Revenue from Wealth Management services for the year 2008 were $13.8 million, up $340 thousand from a year ago, and fourth quarter 2008 revenue of $3.7 million increased 6.1% from the fourth quarter of 2007, reflecting the acquisition of Lau Associates. However, fees in our core wealth business decreased due to a down–turn in the fair value of financial markets.

• The rapid decline in long-term conforming mortgage rates in the fourth quarter of 2008 resulted in a decline in the value of our mortgage servicing portfolio due to projected increases in mortgage refinancing. The outcome was a write-down in the value of our mortgage servicing assets by approximately $640 thousand to $2.2 million.

• The net interest margin was 3.63% for the fourth quarter and 3.84% for the full year of 2008, down from the comparable year earlier periods.

• The provision for loan and lease losses for the year ended December 31, 2008 was $5.6 million, including a fourth quarter provision of $2.9 million, primarily due to the performance of our leasing portfolio.

• At December 31, 2008, the allowance for loan and lease losses of $10.33 million was 1.15% of portfolio loans and leases, compared with $8.12 million or 1.01% of portfolio loans and leases at December 31, 2007.

• Regulatory capital levels at December 31, 2008 exceed the regulatory minimum for “well capitalized” at both the Bank and Corporate level by over $10 million. These ratios have declined from the prior year-end due to asset growth and the acquisition of Lau Associates.

• The opening of The Bryn Mawr Trust Company of Delaware in the fourth quarter and the recent opening of our West Chester, Pennsylvania Regional Banking Center provides further opportunities for growth in the coming years.

DIVIDEND DECLARED

On January 21, 2009, the Corporation’s Board of Directors declared a quarterly dividend of $0.14 per share, payable March 1, 2009 to shareholders of record as of February 9, 2009.

The Corporation will hold an earnings conference call at 8:30 a.m. EDT on Friday, January 30, 2009. Interested parties may participate by calling 888-694-4641 at 8:25 a.m. EDT and referencing conference PIN #79869786. A taped replay of the conference call will be available within two hours of the conclusion of the call and will remain available through Friday, February 13, 2009. The number to call for the taped replay is 800-642-1687 and the conference PIN is 79869786.

The conference call will be simultaneously broadcast live over the Internet through a web cast on the investor relations portion of the Bryn Mawr Bank Corporation’s website. To access the call, please visit the website athttp://www.bmtc.com/investor_01.cfm. An online archive of the web cast will be available within two hours of the conclusion of the call. The Corporation has also recently expanded its Investor Relations website to include added resources and information for shareholders and interested investors. Interested parties are encouraged to utilize the expanded resources of the site for more information on Bryn Mawr Bank Corporation.

This release contains non-GAAP measures. A non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either exclude or include amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles (GAAP). To supplement the Corporation’s financial statements presented in accordance with GAAP, we report certain key financial measurements without the impact of a material real estate transaction.

The Corporation’s management uses these non-GAAP measures in its analysis of the Corporation’s performance. These non-GAAP measures consist of adjusting net income, non-interest income, diluted earnings per share, ROE, and ROA determined in accordance with GAAP to exclude the effects of the real estate gain in the first quarter of 2007 (i.e. year to date).

The Corporation’s Management believes that the inclusion of these non-GAAP financial measures provides useful supplemental information essential to the proper understanding of the operating results of the Corporation’s core business. These measures should be considered in addition to results prepared in accordance with GAAP, and are not substitutes for, or superior to, GAAP results. The non-GAAP measures are provided to enhance investors’ overall understanding of our current financial performance. These non-GAAP measures have been reconciled to the nearest GAAP measure in the accompanying schedule.

This press release contains statements which, to the extent that they are not recitations of historical fact may constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements may include financial and other projections as well as statements regarding the Corporation’s future plans, objectives, performance, revenues, growth, profits, operating expenses or the Corporation’s underlying assumptions. The words “may”, “would”, “could”, “will”, “likely”, “expect,” “anticipate,” “intend”, “estimate”, “plan”, “forecast”, “project” and “believe” or other similar words and phrases may identify forward-looking statements. Persons reading this press release are cautioned that such statements are only predictions, and that the Corporation’s actual future results or performance may be materially different.

Such forward-looking statements involve known and unknown risks, uncertainties. A number of factors, many of which are beyond the Corporation’s 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. Such factors include, among others, our need for capital; the impact of economic conditions on our business; changes in banking regulation 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; our ability to attract and retain key personnel; competition in our marketplace; and other factors as described in our securities filings. All forward-looking statements and information made herein are based on our current expectations 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 Securities and Exchange Commission, including our most recent annual report on Form 10-K, as well as any changes in risk factors that we may identify in our quarterly or other reports filed with the SEC.

# # # #

Reconciliation of Non-GAAP Information

For First Quarter 2008 and Year To Date 2008 Results

(dollars in thousands, except per share data)

(unaudited)

Three Month Period Ended
March 31,	Net Income					Change					Non-interest income						Change
	2008		2007			$			%		2008			2007			$			%
As reported (GAAP)	$	2,898	$	3,976		$	(1,078	)	(27.1	)%	$	5,630		$	6,146		$	(516	)	(8.4	)%
Non-GAAP adjustment1		—		(866	)		866		20.3	%		—			(1,333	)		1,333		25.4	%
Adjusted (Non-GAAP)	$	2,898	$	3,110		$	(212	)	(6.8	)%	$	5,630		$	4,813		$	817		17.0	%
	Diluted Earnings Per Share					Change					ROE						ROA
											2008			2007			2008			2007
	2008		2007			$			%
As reported (GAAP)	$	0.34	$	0.46		$	(0.12	)	(26.1	)%		12.83	%		19.43	%		1.23	%	2.03	%
Non-GAAP adjustment1		—		(0.10	)		0.10		20.5	%		0.00	%		(4.21	)%		0.00	%	(0.44	)%
Adjusted (Non-GAAP)	$	0.34	$	0.36		$	(0.02	)	(5.6	)%		12.83	%		15.22	%		1.23	%	1.59	%
Twelve Month Period Ended
Dec 31,	Net Income					Change					Non-interest income						Change
	2008		2007			$			%		2008			2007			$			%
As reported (GAAP)	$	9,325	$	13,600		$	(4,275	)	(31.4	)%	$	21,472		$	21,781		$	(309	)	(1.4	)%
Non-GAAP adjustment1		—		(866	)		866		4.6	%	$	0		$	(1,333	)		1,333		6.4	%
Adjusted (Non-GAAP)	$	9,325	$	12,734		$	(3,409	)	(26.8	)%	$	21,472		$	20,448		$	1,024		5.0	%
	Diluted earnings per share					Change					ROE						ROA
											2008			2007			2008			2007
	2008		2007			$			%
As reported (GAAP)	$	1.08	$	1.58		$	(0.50	)	(31.6	)%		10.01	%		15.87	%		0.89	%	1.59	%
Non-GAAP adjustment1	$	0.00	$	(0.10	)	$	0.10		4.6	%		0.00	%		(1.01	)%		0.00	%	(0.10	)%
Adjusted (Non-GAAP)	$	1.08	$	1.48		$	(0.40	)	(27.0	)%		10.01	%		14.86	%		0.89	%	1.49	%

1) The Corporation uses this non-GAAP (Generally Accepted Accounting Principles) financial information in its analysis of the Corporation’s performance. This non-GAAP data should be considered in addition to results prepared in accordance with GAAP, and are not a substitute for, or superior to, GAAP results. The non-GAAP adjustment in the first quarter of 2007 represents the reduction of the effect of the after tax gain on sale of real estate of $866,000. The gain was calculated as the excess of the net sale proceeds over net book value, less income taxes.

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data (GAAP)

(Dollars in thousands, except per share data)

December 31, 2008

(unaudited)

	For The Three Months Ended
	Dec 31, 2008			Sept 30, 2008			June 30, 2008			Mar 31, 2008			Dec 31, 2007
Interest income	$	14,838		$	14,802		$	14,232		$	14,062		$	14,300
Interest expense		5,050			4,955			4,929			5,454			5,647
Subordinated debt		257			151			—			—			—
Net interest income		9,531			9,696			9,303			8,608			8,653
Provision for loan and lease losses		2,898			1,063			781			854			401
Net interest income after provision for loan and lease losses		6,633			8,633			8,522			7,754			8,252
Fees for wealth management services		3,695			3,544			3,291			3,312			3,482
Loan servicing and late fees		281			298			305			310			282
Service charges on deposits		455			409			429			392			385
Net gain on sale of loans		293			287			363			332			353
Net gain on sale of investments		8			—			—			222			—
BOLI income		—			—			117			143			165
Interest rate floor income		—			—			—			268			109
Other operating income		533			807			727			651			624
Noninterest income		5,265			5,345			5,232			5,630			5,400
Salaries and wages		4,700			5,278			4,532			4,479			4,551
Employee benefits		912			981			947			1,332			1,214
Occupancy and bank premises		922			778			715			750			725
Furniture fixtures and equipment		632			578			565			549			536
Advertising		356			265			222			272			118
Impairment of mortgage servicing rights		638			11			(30	)		49			8
Amortization of mortgage servicing rights		81			91			119			76			83
Intangible asset expense		77			64			—			—			—
FDIC insurance		138			121			122			91			21
Professional fees		441			426			364			319			372
Other expenses		1,549			1,555			1,447			1,162			1,363
Noninterest expense		10,446			10,148			9,003			9,079			8,991
Income before income taxes		1,452			3,830			4,751			4,305			4,661
Income tax expense		445			1,575			1,586			1,407			1,583
Net income	$	1,007		$	2,255		$	3,165		$	2,898		$	3,078
Per share data:
Weighted average shares outstanding		8,585,914			8,575,904			8,571,143			8,534,467			8,522,325
Dilutive potential common shares		41,254			35,428			31,836			28,413			64,609
Adjusted weighted average dilutive shares		8,627,168			8,611,332			8,602,979			8,562,880			8,586,934
Basic earnings per common share	$	0.12		$	0.26		$	0.37		$	0.34		$	0.36
Diluted earnings per common share	$	0.12		$	0.26		$	0.37		$	0.34		$	0.36
Dividend declared per share	$	0.14		$	0.14		$	0.13		$	0.13		$	0.13
Effective tax rate		30.6	%		41.1	%		33.4	%		32.7	%		34.0	%

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data (GAAP)

(Dollars in thousands, except per share data)

December 31, 2008

(unaudited)

	For The Twelve Months Ended
	Dec 31, 2008			Dec 31, 2007
Interest income	$	57,934		$	54,218
Interest expense		20,388			19,976
Subordinated Debt		408			—
Net interest income		37,138			34,242
Provision for loan and lease losses		5,596			891
Net interest income after provision for loan and lease losses		31,542			33,351
Fees for wealth management services		13,842			13,502
Loan servicing and late fees		1,194			1,115
Service charges on deposits		1,685			1,464
Gain on sale of real estate		—			1,333
Net gain on sale of OREO		—			110
Net gain on sale of loans		1,275			1,250
Net gain on sale of investments		230			—
BOLI income		260			424
Interest rate floor income		268			—
Other operating income		2,718			2,583
Noninterest income		21,472			21,781
Salaries and wages		18,989			17,116
Employee benefits		4,172			4,548
Occupancy and bank premises		3,165			2,862
Furniture fixtures and equipment		2,324			2,078
Advertising		1,115			1,026
Impairment of mortgage servicing rights		668			21
Amortization of mortgage servicing rights		367			327
Intangible asset expense		141			—
FDIC insurance		472			81
Professional fees		1,550			1,585
Other expenses		5,713			5,315
Noninterest expense		38,676			34,959
Income before income taxes		14,338			20,173
Income tax expense		5,013			6,573
Net income	$	9,325		$	13,600
Per share data:
Weighted average shares outstanding		8,566,938			8,539,904
Dilutive potential common shares		34,233			93,638
Adjusted weighted average shares		8,601,171			8,633,542
Basic earnings per common share	$	1.09		$	1.59
Diluted earnings per common share	$	1.08		$	1.58
Dividend declared per share	$	0.54		$	0.50
Effective tax rate		35.0	%		32.6	%

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data (GAAP)

(Dollars in thousands, except per share data )

December 31, 2008

(unaudited)

For the period end:	2008 4Q			2008 3Q			2008 2Q			2008 1Q			2007 4Q
Asset Quality Data
Nonaccrual loans and leases		5,303			1,961			1,697			1,065			747
90 + days past due loans and leases		504			116			8			15			1,263
Nonperforming loans and leases		5,807			2,077			1,705			1,080			2,010
Other non-performing assets		—			136			155			64			—
Nonperforming assets	$	5,807		$	2,213		$	1,860		$	1,144		$	2,010
Nonperforming loans and leases / portfolio loans		0.65	%		0.24	%		0.20	%		0.13	%		0.25	%
Nonperforming assets / assets		0.50	%		0.20	%		0.18	%		0.11	%		0.20	%
Non performing loans and leases by category
Residential mortgages	$	1,388		$	1,417		$	1,012		$	776		$	574
Commercial mortgages		—			—			—			—			—
Construction loans		3,150			—			—			—			—
Commercial loans		48			48			49			50			—
Consumer		504			116			8			15			1,263
Leases		717			496			636			239			173
Nonperforming loans and leases	$	5,807		$	2,077		$	1,705		$	1,080		$	2,010
Delinquency Detail (30+ days past due)
Residential mortgages		1.44	%		0.65	%		2.01	%		1.27	%		2.42	%
Commercial mortgages		0.00	%		0.00	%		0.00	%		0.18	%		0.00	%
Construction loans		6.06	%		—			—			—			—
Commercial loans		0.03	%		0.03	%		0.11	%		0.08	%		0.03	%
Consumer		0.46	%		0.31	%		0.51	%		0.42	%		0.93	%
Leases		4.39	%		2.67	%		1.69	%		1.81	%		2.03	%
Total Delinquency		0.96	%		0.35	%		0.52	%		0.46	%		0.70	%
Changes in the Allowance for loan and lease losses
Balance, beginning of period	$	9,014		$	8,672		$	8,358		$	8,124		$	8,292
Charge-offs:
Residential mortgages		—			—			—			—			—
Commercial mortgages		—			—			—			—			—
Construction loans		—			—			—			—			—
Commercial loans		(4	)		—			—			—			(41	)
Consumer		(9	)		(26	)		(20	)		(17	)		(364	)
Leases		(1,598	)		(770	)		(527	)		(645	)		(248	)
Total		(1,611	)		(796	)		(547	)		(662	)		(653	)
Recoveries:
Residential mortgages		—			—			24			—			—
Commercial mortgages		—			—			—			—			15
Construction loans		—			—			—			—			—
Commercial loans		—			—			—			—			1
Consumer		16			5			1			6			4
Leases		15			70			55			36			64
Total		31			75			80			42			84
Net (charge-offs) / recoveries		(1,580	)		(721	)		(467	)		(620	)		(569	)
Provision for loan and lease losses		2,898			1,063			781			854			401
Balance, end of period	$	10,332		$	9,014		$	8,672		$	8,358		$	8,124
Allowance for loan and lease losses / loans and lease		1.15	%		1.03	%		1.02	%		1.02	%		1.01	%
Allowance for loan and lease losses / nonperforming loans and leases		177.9	%		434.0	%		508.6	%		773.9	%		404.2	%
Net loan and lease charge-offs (annualized)/ average loans
Residential mortgages		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%
Commercial mortgages		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%
Construction loans		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%
Commercial loans		0.01	%		0.00	%		0.00	%		0.00	%		0.08	%
Consumer		0.02	%		0.06	%		0.05	%		0.03	%		1.15	%
Leases		10.74	%		5.06	%		3.56	%		5.06	%		1.78	%
Total		0.71	%		0.33	%		0.22	%		0.31	%		0.29	%

For the period and period end:	2008 4Q			2008 3Q			2008 2Q			2008 1Q			2007 4Q
Selected ratios (annualized):
Return on average assets		0.35	%		0.83	%		1.24	%		1.23	%		1.34	%
Return on average shareholders’ equity		4.23	%		9.55	%		13.65	%		12.83	%		13.73	%
Yield on interest earning assets*		5.63	%		5.94	%		6.05	%		6.46	%		6.77	%
Cost of interest bearing funds		2.42	%		2.47	%		2.58	%		3.14	%		3.43	%
Net interest margin*		3.63	%		3.90	%		3.97	%		3.97	%		4.11	%
Tier 1 leverage ratio		8.03	%		8.76	%		9.70	%		10.23	%		10.42	%
Book value per share	$	10.76		$	10.97		$	10.97		$	10.89		$	10.60
Tangible book value per share	$	9.55		$	10.29		$	10.97		$	10.89		$	10.60
Period end shares outstanding		8,592,259			8,583,377			8,572,277			8,563,402			8,526,084
Selected data:
Mortgage loans originated	$	25,826		$	24,019		$	30,594		$	28,780		$	34,565
Mortgage loans sold - servicing retained	$	10,653		$	5,985		$	12,642		$	14,294		$	8,583
Mortgage loans sold - servicing released	$	5,837		$	7,215		$	10,149		$	11,058		$	12,852
Mortgage loans serviced for others	$	350,199		$	353,833		$	358,802		$	357,734		$	357,363
Brokerage assets (1)	$	75,720		$	86,376		$	88,904		$	87,759		$	85,338
Wealth assets under management / supervision (Lau)		506,637			615,796			—			—			—
Wealth assets under management / administration (BMTC)	$	1,564,042		$	1,964,149		$	2,105,376		$	2,053,207		$	2,191,753
Total Wealth assets under management / administration / supervision / brokerage	$	2,146,399		$	2,666,321		$	2,194,280		$	2,140,966		$	2,277,091

	2008 Year-to-date			2007 Year-to-date
Selected ratios (annualized):
Return on average assets		0.89	%		1.59	%
Return on average shareholders’ equity		10.01	%		15.87	%
Yield on interest earning assets*		5.98	%		6.90	%
Cost of interest bearing funds		2.63	%		3.32	%
Net interest margin*		3.84	%		4.37	%
Net loan and lease charge-offs
Net charge-offs loan and lease portfolio		0.40	%		0.12	%
Net charge-offs loan portfolio		0.00	%		0.05	%
Net charge-offs lease portfolio		6.24	%		1.96	%
Mortgage loans originated	$	109,219		$	127,611
Mortgage loans sold - servicing retained	$	43,575		$	24,300
Mortgage loans sold - servicing released	$	34,259		$	64,466

* Yield on Interest earning assets and net interest margin are calculated on a tax equivalent basis.

(1) Brokerage Assets represent assets held at a registered broker dealer under a networking agreement.

Investment Portfolio as of December 31, 2008

($’s in thousands)

SECURITY DESCRIPTION	Amortized Cost		Fair Value		Unrealized Gain /Loss
U. S. Government Agency	$	10,999	$	11,170	$	171
State, County & Municipal		7,072		7,096		24
FNMA/FHLMC Mortgage Backed Securities		78,054		79,660		1,606
Foreign Debt Securities		950		950		—
Corporate Bonds		10,181		9,454		(727	)
Totals	$	107,256	$	108,330	$	1,074

Other investment information - Other assets at December 31, 2008 include approximately $8 million of FHLB of Pittsburgh common stock at cost.

Capital Ratios

	Regulatory Minimum To Be Well Capitalized		12/31/2008		9/30/2008		6/30/2008		3/31/2008		12/31/2007
Bryn Mawr Trust Company Consolidated
Tier I Capital to Risk Weighted Assets (RWA)	6.00	%	8.50	%	9.07	%	9.43	%	9.69	%	9.81	%
Total (Tier II) Capital to RWA	10.00	%	10.99	%	11.46	%	10.32	%	10.59	%	10.72	%
Tier I Leverage Ratio	5.00	%	7.71	%	8.53	%	9.09	%	9.59	%	10.42	%
Bryn Mawr Bank Corporation
Tier I Capital to Risk Weighted Assets (RWA)	6.00	%	8.82	%	9.35	%	10.05	%	10.32	%	10.40	%
Total (Tier II) Capital to RWA	10.00	%	11.30	%	11.72	%	10.94	%	11.22	%	11.31	%
Tier I Leverage Ratio	5.00	%	8.03	%	8.76	%	9.70	%	10.23	%	9.83	%
Common Equity Ratio			8.03	%	8.31	%	8.96	%	9.29	%	9.02	%
Tangible Common Equity Ratio			7.13	%	7.80	%	8.96	%	9.29	%	9.02	%

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data (GAAP)

(Dollars in thousands)

December 31, 2008

(unaudited)

Balance Sheet For the period ended:	Dec 31, 2008			Sep 30, 2008			Jun 30, 2008				Mar 31, 2008			Dec 31, 2007
Assets
Interest bearing deposits with banks	$	45,100		$	11,413		$	621			$	513		$	1,209
Fed funds sold		—			6,000			—				10,500			17,000
Money market funds		5,109			10,172			163				161			100
Investment securities		108,329			107,048			111,707				96,691			48,302
Loans held for sale		3,024			1,987			2,304				4,496			5,125
Portfolio loans:
Consumer		8,518			8,319			8,574				8,236			7,990
Commercial & industrial		236,469			232,096			228,810				221,125			213,834
Commercial mortgages		249,730			240,996			241,597				224,604			224,510
Construction		58,446			62,299			66,861				67,283			66,901
Residential mortgages		132,536			127,798			114,924				118,117			121,313
Home equity lines & loans		154,576			149,707			138,445				126,159			123,293
Leases		59,302			56,979			54,144				51,241			45,084
Total portfolio loans and leases		899,577			878,194			853,355				816,765			802,925
Earning assets		1,061,139			1,004,642			967,987				928,965			874,561
Cash and due from		18,776			52,124			25,901				23,043			76,965
Allowance for loan and lease losses		(10,332	)		(9,014	)		(8,672	)			(8,358	)		(8,124	)
Bank owned life insurance		15,585			15,585			15,684				15,567			15,424
Intangible assets		10,358			5,805			—				—			—
Other assets		55,820			53,050			48,189				44,736			43,170
Total assets	$	1,151,346		$	1,122,192		$	1,049,089			$	1,003,953		$	1,001,996
Liabilities and shareholders’ equity
Interest-bearing checking	$	135,513		$	134,557		$	139,392			$	140,467		$	137,486
Money market		142,707			137,911			124,431				137,420			114,310
Savings		54,333			67,884			38,157				37,691			36,181
IND deposits		30,185			20,045			3,551				—			—
Wholesale deposits		120,761			134,726			140,498				123,775			129,820
Time deposits		211,542			208,890			166,679				179,136			203,462
Interest-bearing deposits		695,041			704,013			612,708				618,489			621,259
Non-interest bearing deposits		174,449			152,304			141,114				138,465			228,269
Total deposits		869,490			856,317			753,822				756,954			849,528
Subordinated debt		15,000			15,000			—				—			—
Borrowed funds		154,939			147,414			182,293				110,500			45,000
Other liabilities		19,504			19,511			19,102				43,423			17,217
Shareholders’ equity		92,413			94,122			94,035				93,237			90,351
Total liabilities and shareholders’ equity	$	1,151,346		$	1,132,364		$	1,049,252			$	1,004,114		$	1,002,096
Balance Sheet (average)	2008 4Q			2008 3Q			2008 2Q				2008 1Q			2007 4Q
Assets
Interest bearing deposits with banks	$	45,503		$	5,894		$	2,386			$	5,507		$	1,764
Fed funds sold		272			11,668			3,200				7,318			5,438
Money market funds		10,713			2,609			162				225			197
Investment securities		105,902			110,004			104,983				56,726			42,253
Loans held for sale		2,814			1,994			3,604				4,175			4,820
Portfolio loans and leases		886,793			864,460			836,180				806,410			787,059
Earning assets		1,051,997			996,629			950,515				880,361			841,531
Cash and due from		13,882			22,418			19,727				22,306			21,231
Allowance for loan and lease losses		(9,085	)		(8,732	)		(8,451	)			(8,179	)		(8,347	)
Bank owned life insurance		15,585			15,644			15,612				15,474			15,321
Intangible assets		5,824			4,962			—				—			—
Other assets		51,677			48,099			45,731				39,434			39,129
Total assets	$	1,129,880		$	1,079,020		$	1,023,134			$	949,396		$	908,865
										��
Liabilities and shareholders’ equity
Interest-bearing checking	$	133,654		$	134,347		$	138,539			$	143,027		$	130,161
Money market		139,564			127,805			130,222				124,799			120,298
Savings		61,684			51,640			38,472				36,862			35,952
IND deposits		29,339			9,637			1,171				—			—
Wholesale deposits		123,905			139,871			140,288				131,505			132,439
Time deposits		213,004			200,707			169,562				195,413			190,016
Interest-bearing deposits		701,150			664,007			618,254				631,606			608,866
Non-interest bearing deposits		143,897			145,686			143,563				142,532			148,717
Total deposits		845,047			809,693			761,817				774,138			757,583
Subordinated debt		15,000			8,607			—				—			—
Borrowed funds		156,023			148,815			150,567				66,071			44,592
Other liabilities		19,128			17,964			17,531				18,361			17,714
Shareholders’ equity		94,682			93,941			93,228				90,826			88,976
Total liabilities and shareholders’ equity	$	1,129,880		$	1,079,020		$	1,023,143			$	949,396		$	908,865

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data (GAAP)

(Dollars in thousands)

December 31, 2008

(unaudited)

Balance Sheet (average)	2008 Year-to-date			2007 Year-to-date
Assets
Interest bearing deposits with banks	$	18,678		$	1,506
Fed funds sold		5,616			3,496
Money market funds		3,445			183
Investment securities		94,478			44,539
Loans held for sale		3,147			4,908
Portfolio loans and leases		848,605			735,786
Earning assets		973,969			790,418
Cash and due from		15,780			22,640
Allowance for loan and lease losses		(8,613	)		(8,463	)
Bank owned life insurance		15,579			424
Intangible assets		2,711			—
Other assets		46,252			48,301
Total assets	$	1,045,678		$	853,320
Liabilities and shareholders’ equity
Interest-bearing checking	$	137,373		$	131,864
Money market		130,614			110,410
Savings		47,216			38,097
IND deposits		10,088			—
Wholesale deposits		133,882			92,329
Time deposits		194,739			187,044
Interest-bearing deposits		653,912			559,744
Non-interest bearing deposits		143,924			148,773
Total deposits		797,836			708,517
Subordinated debt		5,934			—
Borrowed funds		130,490			42,496
Other liabilities		18,243			16,622
Shareholders’ equity		93,175			85,685
Total liabilities and shareholders’ equity	$	1,045,678		$	853,320

Quarterly Average Balances and Tax Equivalent Income and Expense and Tax Equivalent Yields

	4th Quarter 2008							3rd Quarter 2008							2nd Quarter 2008							1st Quarter 2008							4th Quarter 2007
(dollars in thousands)	Average Balance			Interest Income/ Expense		Average Rates Earned/ Paid		Average Balance			Interest Income/ Expense		Average Rates Earned/ Paid		Average Balance			Interest Income/ Expense		Average Rates Earned/ Paid		Average Balance			Interest Income/ Expense		Average Rates Earned/ Paid		Average Balance			Interest Income/ Expense		Average Rates Earned/ Paid
Assets:
Interest-bearing deposits with other banks	$	45,503		$	62	0.54	%	$	5,894		$	28	1.89	%	$	2,386		$	13	2.19	%	$	5,507		$	42	3.07	%	$	1,764		$	21	4.72	%
Federal funds sold		272			1	1.46	%		11,668			57	1.94	%		3,200			18	2.26	%		7,318			60	3.30	%		5,438			61	4.45	%
Money market funds		10,713			8	0.30	%
Investment securities available for sale:
Taxable		98,966			1,193	4.80	%		104,877			1,208	4.58	%		97,360			1,120	4.63	%		49,251			617	5.04	%		37,325			474	5.04	%
Tax-exempt		6,936			85	4.88	%		7,736			93	4.78	%		7,785			94	4.86	%		7,700			93	4.86	%		5,125			58	4.49	%
Investment securities available for sale		105,902			1,278	4.80	%		112,613			1,301	4.60	%		105,145			1,214	4.64	%		56,951			710	5.01	%		42,450			532	4.97	%
Loans and leases *		889,607			13,551	6.06	%		866,454			13,484	6.19	%		839,784			13,055	6.25	%		810,585			13,321	6.61	%		791,879			13,755	6.89	%
					0
Total interest earning assets		1,051,997			14,900	5.63	%		996,629			14,870	5.94	%		950,515			14,300	6.05	%		880,361			14,133	6.46	%		841,531			14,369	6.77	%
Cash and due from banks		13,882							22,418							19,727							22,306							21,231
Less allowance for loan and lease losses		(9,085	)						(8,732	)						(8,451	)						(8,179	)						(8,347	)
Other assets		73,086							68,705							61,352							54,908							54,450
Total assets	$	1,129,880						$	1,079,020						$	1,023,143						$	949,396						$	908,865
Liabilities:
Savings, NOW and market rate deposits	$	334,902		$	932	1.11	%	$	313,792		$	860	1.09	%	$	307,233		$	794	1.04	%	$	304,688		$	1,057	1.40	%	$	286,411		$	1,154	1.60	%
IND deposits		29,339			53	0.72	%		9,637			51	2.11	%		1,171			6	2.06	%
Wholesale deposits		123,905			1,016	3.26	%		139,871			1,253	3.56	%		140,288			1,585	4.54	%		131,505			1,646	5.03	%		132,439			1,741	5.22	%
Time deposits		213,004			1,725	3.22	%		200,707			1,598	3.17	%		169,562			1,353	3.21	%		195,413			2,115	4.35	%		190,016			2,213	4.62	%
Total interest-bearing deposits		701,150			3,726	2.11	%		664,007			3,762	2.25	%		618,254			3,738	2.43	%		631,606			4,818	3.07	%		608,866			5,108	3.33	%
Subordinated debt		15,000			257	6.82	%		8,607			151	6.98	%		—			—	—
Borrowed funds		156,023			1,324	3.38	%		148,815			1,194	3.19	%		150,567			1,191	3.18	%		66,071			636	3.87	%		44,592			539	4.80	%
Total interest-bearing liabilities		872,173			5,307	2.42	%		821,429			5,107	2.47	%		768,821			4,929	2.58	%		697,677			5,454	3.14	%		653,458			5,647	3.43	%
Noninterest-bearing deposits		143,897							145,686							143,563							142,532							148,717
Other liabilities		19,128							17,964							17,531							18,361							17,714
Total noninterest-bearing liabilities		163,025							163,650							161,094							160,893							166,431
Total liabilities		1,035,198							985,079							929,915							858,570							819,889
Shareholders’ equity		94,682							93,941							93,228							90,826							88,976
Total liabilities and shareholders’ equity	$	1,129,880						$	1,079,020						$	1,023,143						$	949,396						$	908,865
Interest income to earning assets						5.63	%						5.94	%						6.05	%						6.46	%						6.77	%
Net interest spread						3.21							3.47							3.47							3.32							3.34
Effect of noninterest-bearing sources						0.42							0.43							0.50							0.65							0.77
Net interest income/ margin on earning assets				$	9,593	3.63	%				$	9,763	3.90	%				$	9,371	3.97	%				$	8,679	3.97	%				$	8,722	4.11	%
Tax equivalent adjustment				$	62	0.03	%				$	68	0.03	%				$	68	0.03	%				$	71	0.03	%				$	69	0.03	%

* Average loans and leases include portfolio loans and leases, and loans held for sale. Non-accrual loans are also included in the average loan and leases balances.

Average Balances and Tax Equivalent Income and Expense and Tax Equivalent Yields

For the Twelve months ended December 31,

	2008							2007
(dollars in thousands)	Average Balance			Interest Income/ Expense		Average Rates Earned/ Paid		Average Balance			Interest Income/ Expense		Average Rates Earned/ Paid
Assets:
Interest-bearing deposits with other banks		18,678			145	0.78	%		1,506			76	5.05	%
Federal funds sold		5,616			136	2.42	%		3,496			174	4.98	%
Money market funds		3,445			19	0.55	%
Investment securities available for sale:
Taxable		86,940			4,127	4.75	%		39,693			2,017	5.08	%
Tax-exempt		7,538			364	4.83	%		5,029			232	4.61	%
Investment securities available for sale		94,478			4,491	4.75	%		44,722			2,249	5.03	%
Loans and leases *		851,752			53,410	6.27	%		740,694			52,053	7.03	%
Total interest earning assets		973,969			58,201	5.98	%		790,418			54,552	6.90	%
Cash and due from banks		15,780						$	22,640
Less allowance for loan and lease losses		(8,613	)						(8,463	)
Other assets		64,542							48,725
Total assets	$	1,045,678						$	853,320
Liabilities:
Savings,NOW and market rate deposits	$	315,203		$	3,642	1.16	%	$	280,371		$	4,170	1.49	%
IND deposits		10,088			111	1.10			—			—	—
Wholesale deposits		133,882			5,498	4.11	%		92,329			4,925	5.33	%
Time deposits		194,739			6,791	3.49	%		187,044			8,661	4.63	%
Total interest-bearing deposits		653,912			16,042	2.45	%		559,744			17,756	3.17	%
Subordinated debt		5,934			408	6.88			—			—	—
Borrowed funds		130,490			4,346	3.33	%		42,496			2,220	5.22
Total interest-bearing liabilities		790,336			20,796	2.63	%		602,240			19,976	3.32	%
Noninterest-bearing deposits		143,924							148,773
Other liabilities		18,243							16,622
Total noninterest-bearing liabilities		162,167							165,395
Total liabilities		952,503							767,635
Shareholders’ equity		93,175							85,685
Total liabilities and shareholders’ equity	$	1,045,678						$	853,320
Interest income to earning assets						5.98	%						6.90	%
Net interest spread						3.35							3.58
Effect of noninterest-bearing sources						0.49							0.79
Net interest income/ margin on earning assets				$	37,405	3.84	%				$	34,576	4.37	%
Tax equivalent adjustment				$	267	0.03	%				$	332	0.04	%

* Average loans and leases include portfolio loans and leases, and loans held for sale. Non-accrual loans are also included in the average loan and leases balances.