Bryn Mawr Bank (BMTC) 8-K Bryn Mawr Bank Corporation Reports Solid Second Quarter 2009

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 Solid Second Quarter 2009

Financial Results with Net Interest Income Growth and

Residential Mortgage Volume as Primary Contributors

BRYN MAWR, Pa. August 3, 2009 - Bryn Mawr Bank Corporation (NASDAQ: BMTC), (the “Corporation”), parent of The Bryn Mawr Trust Company (the “Bank”), today announced financial results for the second quarter ended June 30, 2009. The Corporation reported second quarter 2009 diluted earnings per share of $0.28 and net income of $2.4 million which includes a $0.04 per diluted share or $351 thousand after-tax cost of the FDIC insurance special assessment. In the first quarter of 2009, the Corporation reported diluted earnings per share of $0.31 and net income of $2.6 million. There was no FDIC insurance special assessment in the first quarter of 2009.

Ted Peters, Chairman and Chief Executive Officer, stated, “We are pleased with the results for the second quarter and year to date. Growth in net interest income and revenue from mortgage refinance activity were among the highlights for the quarter. Loan quality remains strong, however, challenges continue in our leasing portfolio.”

Mr. Peters continued, “During the second quarter as previously reported, the Corporation enhanced its capital position through the sale of $2.5 million of common shares and the issuance of $7.5 million in subordinated debt in a private transaction. Additionally, the Corporation has established a Dividend Reinvestment and Stock Purchase Plan (“Plan”) which is intended to allow both existing shareholders and new investors to easily and conveniently increase their investment in the Corporation without incurring many of the fees and commissions normally associated with brokerage transactions. On July 20, 2009, the Corporation made a 424(b)(2) filing with the Securities and Exchange Commission relating to securities to be taken down from the Corporation’s S-3 shelf registration statement in connection with the Plan.”

A copy of the Plan as filed in our July 20, 2009 424(b)(2) filing can be found under “SEC filings” at our website,www.bmtc.com, by clicking on “About Us” and then “Investor Relations”.

HIGHLIGHTS FOR THE QUARTER

• Second quarter 2009 deposit levels were $894.0 million, up $24.5 million or 2.8% from December 31, 2008 and up $140.2 million or 18.6% from June 30, 2008.

• Total quarter end portfolio loans and leases were down 2.4% or $22.0 million to $877.6 million compared to $899.6 million at December 31, 2008 as construction loans decreased $17.6 million or 30.1% as planned and leases declined $3.8 million or 6.3%.

• Mortgage originations for the second quarter of 2009 were $125.1 million compared with $96.5 million in the first quarter of 2009 and $25.8 million in the fourth quarter of 2008. The net gain on the sale of residential mortgage loans of approximately $2.5 million was up significantly from approximately $1.9 million in the first quarter of 2009 and $300 thousand in the fourth quarter of 2008. Operating expenses include variable costs associated with this mortgage revenue of approximately 36%.

• The value of our Mortgage Servicing Rights (MSR’s) increased to $3.6 million from $2.2 million at December 31, 2008. This increase is primarily the result of mortgage refinancing activity during the first quarter of 2009 in which the mortgages were sold with servicing retained along with a slight increase in value. Second quarter results contained a $115 thousand MSR impairment recovery.

• Revenue from Wealth Management services (which includes Lau Associates revenue which was acquired on July 15, 2008) for the second quarter 2009 was $3.6 million, up slightly from first quarter 2009 revenue of $3.5 million, and in line with fourth quarter 2008 results, reflecting the improved financial markets over the past 3 months.

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• The Corporation had an unused borrowing capacity of $258.4 million at the Federal Home Loan Bank of Pittsburgh, $82.9 million at the Federal Reserve and $75 million of Fed Funds lines at June 30, 2009. Additionally, liquidity remains strong with approximately $90 million in overnight money market funds and other short-term investments at the end of the second quarter.

• The net interest margin was 3.59% for the second quarter of 2009, down 3 basis points from the first quarter 2009 and 4 basis points from the fourth quarter of 2008 primarily due to the low interest rates the Corporation is earning on its excess cash balances.

• The provision for loan and lease losses for the quarter ended June 30, 2009 was $1.69 million, compared with $1.59 million in the first quarter of 2009, primarily due to leasing portfolio charge-offs.

• At June 30, 2009, the allowance for loan and lease losses of $10.39 million was 1.18% of portfolio loans and leases compared with $10.14 million or 1.13% and $10.33 million or 1.15% of portfolio loans and leases at March 31, 2009 and December 31, 2008, respectively. The allowance as a percentage of non-performing loans and leases increased to 284% at June 30, 2009 from 178% at December 31, 2008, due to the foreclosure of a site development loan and its transfer into other real estate owned (“OREO”) at its estimated net realizable value.

• The FDIC insurance special assessment charge of approximately $540 thousand ($0.04 per diluted share or $351 thousand after-tax) to replenish the FDIC Insurance Fund was accrued as of June 30, 2009 and is payable on September 30, 2009.

• Second quarter 2009 non-interest expense increased $819 thousand or 7.1% over the first quarter of 2009 due in part to the variable costs associated with higher residential mortgage activity, the FDIC insurance special assessment charge and increased advertising and professional fees. Excluding the FDIC insurance special assessment, non-interest expense increased $279 thousand or 2.4% from the first quarter of 2009.

• Regulatory capital levels at June 30, 2009 exceed the regulatory minimum for “well capitalized” at both the Bank and Corporate level by over $19 million.

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	Regulatory Minimum to be Well Capitalized		Actual 6/30/2009		Actual 12/31/2008
Bryn Mawr Trust Company Consolidated
Tier I Capital to Risk Weighted Assets (RWA)	6.00	%	8.71	%	8.49	%
Total (Tier II) Capital to RWA	10.00	%	11.89	%	10.98	%
Tier I Leverage Ratio	5.00	%	7.72	%	7.70	%
Bryn Mawr Bank Corporation
Tier I Capital to Risk Weighted Assets (RWA)	6.00	%	9.27	%	8.81	%
Total (Tier II) Capital to RWA	10.00	%	12.43	%	11.29	%
Tier I Leverage Ratio	5.00	%	8.22	%	8.03	%
Tangible Common Equity Ratio	N/A		7.43	%	7.13	%

DIVIDEND DECLARED

On July 23, 2009, the Corporation’s Board of Directors declared a quarterly dividend of $0.14 per share, payable September 1, 2009 to shareholders of record as of August 14, 2009.

The Corporation will hold an earnings conference call at 8:30 a.m. EDT on Tuesday, August 4, 2009. Interested parties may participate by calling 800-860-2442 at 8:30 a.m. EDT. A taped replay of the conference call will be available within two hours of the conclusion of the call and will remain available through Wednesday, August 12, 2009. The number to call for the taped replay is 877-344-7529 and the Replay Passcode is 431710.

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.

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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”, “should”, “could”, “will”, “likely”, “expect,” “anticipate,” “intend”, “estimate”, “target”, “potentially”, “probably”, “outlook”, “predict”, “contemplate”, “continue”, “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 and 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, ability to control operating costs and expenses, and ability 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; 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; and other factors as described in our securities filings. All forward-looking statements and information made herein are based on Management’s 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.

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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.

# # # #

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Bryn Mawr Bank Corporation

Consolidated Selected Financial Data (GAAP)

(Dollars in thousands, except per share data)

June 30, 2009

(unaudited)

	For The Three Months Ended
	June 30, 2009			Mar 31, 2009			Dec 31, 2008			Sep 30, 2008			Jun 30, 2008
Interest income	$	14,222		$	14,293		$	14,838		$	14,802		$	14,232
Interest expense		4,004			4,446			5,050			4,955			4,929
Subordinated debt		306			221			257			151			—
Net interest income		9,912			9,626			9,531			9,696			9,303
Provision for loan and lease losses		1,686			1,591			2,898			1,063			781
Net interest income after provision for loan and lease losses		8,226			8,035			6,633			8,633			8,522
Fees for wealth management services		3,620			3,504			3,695			3,544			3,291
Loan servicing and late fees		343			291			281			298			305
Service charges on deposits		491			463			455			409			429
Net gain on sale of residential mortgage loans		2,516			1,877			293			287			363
Net gain on sale of investments		—			472			8			—			—
Net gain on trading investment		79
Other operating income		752			878			533			807			844
Noninterest income		7,801			7,485			5,265			5,345			5,232
Salaries and wages		5,626			5,479			4,700			5,278			4,532
Employee benefits		1,462			1,582			912			981			947
Occupancy and bank premises		906			927			922			778			715
Furniture fixtures and equipment		612			586			632			578			565
Advertising		346			232			356			265			222
(Recovery) / impairment of mortgage servicing rights		(115	)		204			638			11			(30	)
Amortization of mortgage servicing rights		256			195			81			91			119
Intangible asset amortization		77			77			77			64			—
FDIC insurance		357			322			138			121			122
FDIC insurance special assessment		540			—			—			—			—
Professional fees		544			343			441			426			364
Other expenses		1,676			1,521			1,549			1,555			1,447
Noninterest expense		12,287			11,468			10,446			10,148			9,003
Income before income taxes		3,740			4,052			1,452			3,830			4,751
Income tax expense		1,291			1,420			445			1,575			1,586
Net income	$	2,449		$	2,632		$	1,007		$	2,255		$	3,165
Per share data:
Weighted average shares outstanding		8,745,708			8,602,406			8,585,914			8,575,904			8,571,143
Dilutive potential common shares		21,601			18,498			41,254			35,428			31,836
Adjusted weighted average dilutive shares		8,767,309			8,620,904			8,627,168			8,611,332			8,602,979
Basic earnings per common share	$	0.28		$	0.31		$	0.12		$	0.26		$	0.37
Diluted earnings per common share	$	0.28		$	0.31		$	0.12		$	0.26		$	0.37
Dividend declared per share	$	0.14		$	0.14		$	0.14		$	0.14		$	0.13
Effective tax rate		34.5	%		35.0	%		30.6	%		41.1	%		32.7	%

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data (GAAP)

(Dollars in thousands, except per share data)

June 30, 2009

(unaudited)

	For The Six Months Ended
	June 30, 2009			June 30, 2008
Interest income	$	28,515		$	28,294
Interest expense		8,450			10,383
Subordinated debt		527			—
Net interest income		19,538			17,911
Provision for loan and lease losses		3,277			1,635
Net interest income after provision for loan and lease losses		16,261			16,276
Fees for wealth management services		7,124			6,603
Loan servicing and late fees		634			615
Service charges on deposits		954			821
Net gain on sale of residential mortgage loans		4,393			695
Net gain on sale of investments		472			222
Net gain on trading investment		79			—
BOLI income		—			260
Interest rate floor income		—			268
Other operating income		1,630			1,378
Noninterest income		15,286			10,862
Salaries and wages		11,105			9,011
Employee benefits		3,044			2,279
Occupancy and bank premises		1,833			1,465
Furniture fixtures and equipment		1,198			1,114
Advertising		578			494
Impairment of mortgage servicing rights		89			19
Amortization of mortgage servicing rights		451			195
Intangible asset amortization		154			—
FDIC insurance		679			213
FDIC insurance - special assessment		540			—
Professional fees		887			683
Other expenses		3,197			2,609
Noninterest expense		23,755			18,082
Income before income taxes		7,792			9,056
Income tax expense		2,711			2,993
Net income	$	5,081		$	6,063
Per share data:
Weighted average shares outstanding		8,674,453			8,552,805
Dilutive potential common shares		20,050			30,125
Adjusted weighted average shares		8,694,503			8,582,930
Basic earnings per common share	$	0.59		$	0.71
Diluted earnings per common share	$	0.58		$	0.71
Dividend declared per share	$	0.28		$	0.26
Effective tax rate		34.8	%		33.0	%

For the period end:	2009 2Q			2009 1Q			2008 4Q			2008 3Q			2008 2Q
Asset Quality Data
Nonaccrual loans and leases		2,913			3,251			5,303			1,961			1,697
90 + days past due loans and leases		746			744			504			116			8
Nonperforming loans and leases		3,659			3,995			5,807			2,077			1,705
Other non-performing assets		1,897			1,311			—			136			155
Nonperforming assets	$	5,556		$	5,306		$	5,807		$	2,213		$	1,860
Nonperforming loans and leases / portfolio loans		0.41	%		0.45	%		0.65	%		0.24	%		0.20	%
Nonperforming assets / assets		0.47	%		0.45	%		0.50	%		0.20	%		0.18	%
Net loan and lease charge-offs (annualized)/ average loans		0.64	%		0.79	%		0.71	%		0.33	%		0.22	%
Delinquency rate - including nonperforming		0.81	%		1.01	%		0.97	%		0.35	%		0.52	%
Delinquency rate - excluding nonperforming		0.40	%		0.59	%		0.32	%		0.11	%		0.32	%
Changes in the Allowance for loan and lease losses
Balance, beginning of period	$	10,137		$	10,332		$	9,014		$	8,672		$	8,358
Charge-offs		(1,546	)		(1,858	)		(1,611	)		(796	)		(547	)
Recoveries		112			72			31			75			80
Net (charge-offs) / recoveries		(1,434	)		(1,786	)		(1,580	)		(721	)		(467	)
Provision for loan and lease losses		1,686			1,591			2,898			1,063			781
Balance, end of period	$	10,389		$	10,137		$	10,332		$	9,014		$	8,672
Allowance for loan and lease losses / loans and lease		1.18	%		1.13	%		1.15	%		1.03	%		1.02	%
Allowance for loan and lease losses / nonperforming loans and leases		283.9	%		253.7	%		177.9	%		434.0	%		508.6	%

For the period and period end:	2009 2Q			2009 1Q			2008 4Q			2008 3Q			2008 2Q
Selected ratios (annualized):
Return on average assets		0.83	%		0.92	%		0.35	%		0.83	%		1.24	%
Return on average shareholders’ equity		10.11	%		11.54	%		4.23	%		9.55	%		13.65	%
Yield on loans and leases*		5.84	%		5.85	%		6.06	%		6.19	%		6.25	%
Yield on interest earning assets*		5.13	%		5.37	%		5.63	%		5.94	%		6.05	%
Cost of interest bearing funds		1.94	%		2.15	%		2.42	%		2.47	%		2.58	%
Net interest margin*		3.59	%		3.62	%		3.63	%		3.90	%		3.97	%
Tier 1 leverage ratio		8.22	%		8.05	%		8.03	%		8.76	%		9.70	%
Book value per share	$	11.33		$	10.99		$	10.76		$	10.97		$	10.97
Tangible book value per share	$	10.15		$	9.78		$	9.55		$	10.29		$	10.97
Period end shares outstanding		8,781,079			8,615,296			8,592,259			8,583,377			8,572,277
Selected data:
Mortgage loans originated	$	125,090		$	96,523		$	25,826		$	24,019		$	30,594
Mortgage loans sold - servicing retained	$	112,608		$	93,071		$	10,653		$	5,985		$	12,642
Mortgage loans sold - servicing released	$	188		$	1,225		$	5,837		$	7,215		$	10,149
Mortgage loans serviced for others	$	490,202		$	411,493		$	350,199		$	353,833		$	358,802
Brokerage assets (1)	$	143,188		$	78,707		$	75,720		$	86,376		$	88,904
Wealth assets under management / supervision (Lau)		488,877			456,909			506,637			615,796			—
Wealth assets under management / administration (BMTC)	$	1,523,071		$	1,421,868		$	1,564,042		$	1,964,149		$	2,105,376
Total Wealth assets under management / administration / supervision / brokerage	$	2,155,136		$	1,878,777		$	2,070,679		$	2,579,945		$	2,105,376

* Yield on loans and leases, 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.

	2009 Year-to-date			2008 Year-to-date
Selected ratios (annualized):
Return on average assets		0.88	%		1.24	%
Return on average shareholders’ equity		10.81	%		13.25	%
Yield on loans and leases*		5.85	%		6.43	%
Yield on interest earning assets*		5.25	%		6.25	%
Cost of interest bearing funds		2.04	%		2.85	%
Net interest margin*		3.60	%		3.97	%
Selected data:
Mortgage loans originated	$	221,613		$	60,374
Mortgage loans sold - servicing retained	$	205,679		$	26,936
Mortgage loans sold - servicing released	$	1,413		$	21,207

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

Investment Portfolio	As of June 30, 2009				As of December 31, 2008
($’s in thousands)
SECURITY DESCRIPTION	Amortized Cost	Fair Value	Unrealized Gain /Loss		Amortized Cost	Fair Value	Unrealized Gain /Loss
Short term bond fund	5,105	5,105	—		—	—	—
Total Trading Securities	5,105	5,105	—		—	—	—
U. S. government agency securities	40,147	40,315	168		10,999	11,170	171
State, county & municipal securities	17,937	17,815	(122	)	7,072	7,096	24
FNMA/FHLMC mortgage backed securities	63,497	65,174	1,677		78,054	79,660	1,606
GNMA mortgage backed securities	11,539	11,621	82		—	—	—
Foreign debt securities	1,450	1,450	—		950	950	—
Corporate bonds	17,340	17,363	23		10,180	9,453	(727	)
Total Available for Sale Securities	151,910	153,738	1,828		107,255	108,329	1,074
Total Investment Portfolio	157,015	158,843	1,828		107,255	108,329	1,074

Note: Other assets as of June 30, 2009 include approximately $7.9 million of FHLB of Pittsburgh common stock at cost.

Capital Ratios

	Regulatory Minimum To Be Well Capitalized		6/30/2009		3/31/2009		12/31/2008		9/30/2008		6/30/2008
Bryn Mawr Trust Company Consolidated
Tier I Capital to Risk Weighted Assets (RWA)	6.00	%	8.71	%	8.56	%	8.49	%	9.07	%	9.43	%
Total (Tier II) Capital to RWA	10.00	%	11.89	%	11.02	%	10.98	%	11.46	%	10.32	%
Tier I Leverage Ratio	5.00	%	7.72	%	7.68	%	7.70	%	8.53	%	9.09	%
Bryn Mawr Bank Corporation
Tier I Capital to Risk Weighted Assets (RWA)	6.00	%	9.27	%	8.96	%	8.81	%	9.35	%	10.05	%
Total (Tier II) Capital to RWA	10.00	%	12.43	%	11.41	%	11.29	%	11.72	%	10.94	%
Tier I Leverage Ratio	5.00	%	8.22	%	8.05	%	8.03	%	8.76	%	9.70	%
Common Equity Ratio			8.29	%	8.10	%	8.03	%	8.31	%	8.96	%
Tangible Common Equity Ratio			7.43	%	7.20	%	7.13	%	7.13	%	8.96	%

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data (GAAP)

(Dollars in thousands)

June 30, 2009

(unaudited)

Balance Sheet For the period ended:	Jun 30, 2009			Mar 31, 2009			Dec 31, 2008			Sep 30, 2008			Jun 30, 2008
Assets
Interest bearing deposits with banks	$	51,455		$	30,283		$	45,100		$	11,413		$	621
Fed funds sold		—			—			—			6,000			—
Money market funds		38,252			72,433			5,109			10,172			163
Trading securities		5,105			—			—			—			—
Investment securities - AFS		153,738			106,191			108,329			107,048			111,707
Total investment securities		158,843			106,191			108,329			107,048			111,707
Loans held for sale		6,837			2,896			3,024			1,987			2,304
Portfolio loans:
Consumer		10,603			8,396			8,518			8,319			8,574
Commercial & industrial		224,355			237,440			236,469			232,096			228,810
Commercial mortgages		257,246			256,631			249,730			240,996			241,597
Construction		40,829			43,746			58,446			62,299			66,861
Residential mortgages		120,475			124,552			132,536			127,798			114,924
Home equity lines & loans		168,592			165,044			154,576			149,707			138,445
Leases		55,538			57,668			59,302			56,979			54,144
Total portfolio loans and leases		877,638			893,477			899,577			878,194			853,355
Earning assets		1,133,025			1,105,280			1,061,139			1,014,814			968,150
Cash and due from banks		11,260			9,342			18,776			52,124			25,901
Allowance for loan and lease losses		(10,389	)		(10,137	)		(10,332	)		(9,014	)		(8,672	)
Bank owned life insurance		—			—			15,585			15,585			15,684
Intangible assets		10,399			10,476			10,358			5,805			—
Other assets		55,246			54,856			55,820			53,050			48,189
Total assets	$	1,199,541		$	1,169,817		$	1,151,346		$	1,132,364		$	1,049,252
Liabilities and shareholders’ equity
Interest-bearing checking	$	132,531		$	132,354		$	135,513		$	134,557		$	139,392
Money market		172,850			171,986			142,707			137,911			124,431
Savings		98,545			83,834			54,333			67,884			38,157
IND deposits		20,625			29,541			30,185			20,045			3,551
Wholesale deposits		88,119			86,746			120,761			134,726			140,498
Time deposits		200,174			205,164			211,542			208,890			166,679
Interest-bearing deposits		712,844			709,625			695,041			704,013			612,708
Non-interest bearing deposits		181,153			177,153			174,449			152,304			141,114
Total deposits		893,997			886,778			869,490			856,317			753,822
Subordinated debt		22,500			15,000			15,000			15,000			—
Borrowed funds		149,925			152,442			154,939			147,414			182,293
Mortgage payable		2,090			—			—			—			—
Other liabilities		31,539			20,899			19,504			19,511			19,102
Shareholders’ equity		99,490			94,698			92,413			94,122			94,035
Total liabilities and shareholders’ equity	$	1,199,541		$	1,169,817		$	1,151,346		$	1,132,364		$	1,049,252
Balance Sheet (average)	2009 2Q			2009 1Q			2008 4Q			2008 3Q			2008 2Q
Assets
Interest bearing deposits with banks	$	23,588		$	29,434		$	45,503		$	5,894		$	2,386
Fed funds sold		—			2,222			272			11,668			3,200
Money market funds		70,933			40,903			10,713			2,609			162
Investment securities		130,964			108,413			105,902			110,004			104,983
Loans held for sale		6,219			6,478			2,814			1,994			3,604
Portfolio loans and leases		886,180			897,215			886,793			864,460			836,180
Earning assets		1,117,884			1,084,665			1,051,997			996,629			950,515
Cash and due from banks		10,386			11,706			13,882			22,418			19,727
Allowance for loan and lease losses		(10,242	)		(10,353	)		(9,085	)		(8,732	)		(8,451	)
Bank owned life insurance		—			—			15,585			15,644			15,612
Intangible assets		10,443			10,399			5,824			4,962			—
Other assets		53,924			58,775			51,677			48,099			45,731
Total assets	$	1,182,395		$	1,155,192		$	1,129,880		$	1,079,020		$	1,023,134
Liabilities and shareholders’ equity
Interest-bearing checking	$	138,904		$	133,955		$	133,654		$	134,347		$	138,539
Money market		171,378			160,372			139,564			127,805			130,222
Savings		85,035			74,590			61,684			51,640			38,472
IND deposits		25,057			29,287			29,339			9,637			1,171
Wholesale deposits		99,371			103,562			123,905			139,871			140,288
Time deposits		198,221			207,964			213,004			200,707			169,562
Interest-bearing deposits		717,966			709,730			701,150			664,007			618,254
Non-interest bearing deposits		171,918			160,295			143,897			145,686			143,563
Total deposits		889,884			870,025			845,047			809,693			761,817
Subordinated debt		20,934			15,000			15,000			8,607			—
Borrowed funds		151,109			154,114			156,023			148,815			150,567
Mortgage payable		1,614			—			—			—			—
Other liabilities		21,714			23,559			19,128			17,964			17,531
Shareholders’ equity		97,140			92,494			94,682			93,941			93,228
Total liabilities and shareholders’ equity	$	1,182,395		$	1,155,192		$	1,129,880		$	1,079,020		$	1,023,143

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data (GAAP)

(Dollars in thousands)

June 30, 2009

(unaudited)

Balance Sheet (average)

	2009 Year-to-date			2008 Year-to-date
Assets
Interest bearing deposits with banks	$	26,495		$	3,947
Fed funds sold		1,105			5,259
Money market funds		56,001			—
Investment securities		119,751			81,048
Loans held for sale		6,348			3,889
Portfolio loans and leases		891,667			821,295
Earning assets		1,101,367			915,438
Cash and due from		11,042			21,017
Allowance for loan and lease losses		(10,297	)		(8,315	)
Intangible assets		10,421			—
Other assets		56,336			58,121
Total assets	$	1,168,869		$	986,261
Liabilities and shareholders’ equity
Interest-bearing checking	$	136,443		$	140,783
Money market		165,906			127,511
Savings		79,841			37,666
IND deposits		27,161			—
Wholesale deposits		101,454			136,482
Time deposits		203,065			182,488
Interest-bearing deposits		713,870			624,930
Non-interest bearing deposits		166,140			143,048
Total deposits		880,010			767,978
Subordinated debt		17,983			—
Borrowed funds		152,604			108,319
Mortgage payable		811			—
Other liabilities		22,631			17,937
Shareholders’ equity		94,830			92,027
Total liabilities and shareholders’ equity	$	1,168,869		$	877,942

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

	2nd Quarter 2009							1st Quarter 2009							4th Quarter 2008							3rd Quarter 2008							2nd Quarter 2008
(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	$	23,588		$	12	0.20	%	$	29,434		$	17	0.23	%	$	45,503		$	62	0.54	%	$	5,894		$	28	1.89	%	$	2,386		$	13	2.19	%
Federal funds sold		—			—	—	%		2,222			1	0.18	%		272			1	1.46	%		11,668			57	1.94	%		3,200			18	2.26	%
Money market funds		70,933			80	0.45	%		40,903			82	0.81	%		10,713			8	0.30			—			—	—			—			—	—
Investment securities available for sale:
Taxable		116,968			1,058	3.63	%		98,240			1,116	4.61	%		98,966			1,193	4.80	%		104,877			1,208	4.58	%		97,360			1,120	4.63	%
Tax-exempt		13,996			155	4.44	%		10,173			107	4.27	%		6,936			85	4.88	%		7,736			93	4.78	%		7,785			94	4.86	%
Investment securities available for sale		130,964			1,213	3.72	%		108,413			1,223	4.58	%		105,902			1,278	4.80	%		112,613			1,301	4.60	%		105,145			1,214	4.64	%
Loans and leases *		892,399			12,999	5.84	%		903,693			13,035	5.85	%		889,607			13,551	6.06	%		866,454			13,484	6.19	%		839,784			13,055	6.25	%
Total interest earning assets		1,117,884			14,304	5.13	%		1,084,665			14,358	5.37	%		1,051,997			14,900	5.63	%		996,629			14,870	5.94	%		950,515			14,300	6.05	%
Cash and due from banks		10,386							11,706							13,882							22,418							19,727
Less allowance for loan and lease losses		(10,242	)						(10,353	)						(9,085	)						(8,732	)						(8,451	)
Other assets		64,367							69,174							73,086							68,705							61,352
Total assets	$	1,182,395						$	1,155,192						$	1,129,880						$	1,079,020						$	1,023,143
Liabilities:
Savings, NOW and market rate deposits	$	395,317		$	798	0.81	%	$	368,917		$	816	0.90	%	$	334,902		$	932	1.11	%	$	313,792		$	860	1.09	%	$	307,233		$	794	1.04	%
IND deposits		25,057			24	0.38	%		29,287			28	0.39	%		29,339			53	0.72	%		9,637			51	2.11	%		1,171			6	2.06	%
Wholesale deposits		99,371			592	2.39	%		103,562			785	3.07	%		123,905			1,016	3.26	%		139,871			1,253	3.56	%		140,288			1,585	4.54	%
Time deposits		198,221			1,316	2.66	%		207,964			1,554	3.03	%		213,004			1,725	3.22	%		200,707			1,598	3.17	%		169,562			1,353	3.21	%
Total interest-bearing deposits		717,966			2,730	1.53	%		709,730			3,183	1.82	%		701,150			3,726	2.11	%		664,007			3,762	2.25	%		618,254			3,738	2.43	%
Subordinated debt		20,934			306	5.86	%		15,000			221	5.98	%		15,000			257	6.82	%		8,607			151	6.98	%		—			—	—
Mortgage payable		1,614			23	5.72	%		—			—	—			—			—	—	%		—			—	—	%		—			—	—
Borrowed funds		151,109			1,251	3.32	%		154,114			1,263	3.32	%		156,023			1,324	3.38	%		148,815			1,194	3.19	%		150,567			1,191	3.18	%
Total interest-bearing liabilities		891,623			4,310	1.94	%		878,844			4,667	2.15	%		872,173			5,307	2.42	%		821,429			5,107	2.47	%		768,821			4,929	2.58	%
Noninterest-bearing deposits		171,918							160,295							143,897							145,686							143,563
Other liabilities		21,714							23,559							19,128							17,964							17,531
Total noninterest-bearing liabilities		193,632							183,854							163,025							163,650							161,094
Total liabilities		1,085,255							1,062,698							1,035,198							985,079							929,915
Shareholders’ equity		97,140							92,494							94,682							93,941							93,228
Total liabilities and shareholders’ equity	$	1,182,395						$	1,155,192						$	1,129,880						$	1,079,020						$	1,023,143
Interest income to earning assets						5.13	%						5.37	%						5.63	%						5.94	%						6.05	%
Net interest spread						3.19							3.22							3.21							3.47							3.47
Effect of noninterest-bearing sources						0.40							0.40							0.42							0.43							0.50
Net interest income/ margin on earning assets				$	9,994	3.59	%				$	9,691	3.62	%				$	9,593	3.63	%				$	9,763	3.90	%				$	9,371	3.97	%
Tax equivalent adjustment				$	82	0.02	%				$	65	0.02	%				$	62	0.03	%				$	68	0.03	%				$	68	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 Six months ended June 30,

	2009							2008
(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	$	26,495		$	29	0.22	%	$	3,947		$	55	2.80	%
Federal funds sold		1,105			1	0.18	%		5,259			78	2.98	%
Money market funds		56,001			162	0.58	%		—			—		%
Investment securities available for sale:
Taxable		107,656			2,174	4.07	%		73,305			1,738	4.77	%
Tax-exempt		12,095			261	4.35	%		7,743			186	4.83	%
Investment securities available for sale		119,751			2,435	4.10	%		81,048			1,924	4.77	%
Loans and leases *		898,015			26,034	5.85	%		825,184			26,376	6.43	%
Total interest earning assets		1,101,367			28,661	5.25	%		915,438			28,433	6.25	%
Cash and due from banks		11,042							21,017
Less allowance for loan and lease losses		(10,297	)						(8,315	)
Other assets		66,757							58,121
Total assets	$	1,168,869						$	986,261
Liabilities:
Savings, NOW and market rate deposits	$	382,190		$	1,614	0.85	%	$	305,960		$	1,850	1.22	%
IND deposits	$	27,161			51	0.38			586			6	2.06	%
Wholesale deposits		101,454			1,378	2.74	%		135,896			3,230	4.78	%
Time deposits		203,065			2,869	2.85	%		182,488			3,469	3.82	%
Total interest-bearing deposits		713,870			5,912	1.67	%		624,930			8,555	2.75	%
Subordinated debt		17,983			527	5.91	%		—			—		%
Mortgage payable		811			23	5.72	%		—			—		%
Borrowed funds		152,604			2,515	3.32	%		108,319			1,828	3.39	%
Total interest-bearing liabilities		885,268			8,977	2.04	%		733,249			10,383	2.85	%
Noninterest-bearing deposits		166,140							143,048
Other liabilities		22,631							17,937
Total noninterest-bearing liabilities		188,771							160,985
Total liabilities		1,074,039							894,234
Shareholders’ equity		94,830							92,027
Total liabilities and shareholders’ equity	$	1,168,869						$	986,261
Interest income to earning assets						5.25	%						6.25	%
Net interest spread						3.21							3.40
Effect of noninterest-bearing sources						0.39							0.57
Net interest income/ margin on earning assets				$	19,684	3.60	%				$	18,050	3.97	%
Tax equivalent adjustment				$	146	0.02	%				$	139	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.