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

Exhibit 99.1

Bryn Mawr Bank Corporation

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

Bryn Mawr Bank Corporation Successfully Completes Merger with

First Keystone Financial, Inc. and Reports Third Quarter Operating Results

BRYN MAWR, Pa., November 8, 2010 - Bryn Mawr Bank Corporation (NASDAQ: BMTC), (the “Corporation”), parent of The Bryn Mawr Trust Company (the “Bank”), today announced third quarter 2010 operating results of a diluted loss per share of $0.08 and a net loss of $1.0 million, which includes approximately $4.3 million of pre-tax First Keystone Financial, Inc. (“FKF”) merger related expenses and a provision for loan and lease losses of $4.2 million. For the same period last year, the Corporation reported diluted earnings per share of $0.30 and net income of $2.6 million.

Ted Peters, Chairman and Chief Executive Officer, commented, “The combination of the two banks has gone extremely well. We are seeing almost no attrition of clients from the First Keystone side and, in fact, anticipate growing their franchise as we move forward. As a result of the merger, the Corporation now has total banking assets of $1.7 billion and 17 full-service branch locations. In addition, the Corporation acquired loans and deposits with a fair market value of $274.8 million and $320.8 million, respectively. Total portfolio loans and leases were $1.2 billion and total deposits were $1.3 billion at September 30, 2010. We are looking forward to a solid fourth quarter and a strong 2011, as most of the FKF merger related expenses are behind us.”

For the nine months ended September 30, 2010, the Corporation reported diluted earnings per share of $0.35 and net income of $3.6 million, which includes $5.3 million of pre-tax merger

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related expenses and a provision for loan and lease losses of $8.3 million. Approximately $6.0 million of the $8.3 million provision for loan and lease losses during this period is related to the two commercial relationships that were included in non-performing assets in prior periods and have been written down to their fair value based on an updated analysis and certain new valuation information. For the same period last year, the Corporation reported diluted earnings per share and net income of $0.88 and $7.7 million, respectively.

The merger of FKF and its wholly owned subsidiary, First Keystone Bank, into the Corporation and Bank (the “Merger”), was completed on July 1, 2010. In accordance with the merger agreement, the aggregate consideration paid to FKF shareholders consisted of approximately $4.8 million in cash and approximately 1.6 million shares of the Corporation’s common stock. Total consideration for fair value purposes was approximately $31.3 million. Shareholders of FKF received 0.6973 shares of the Corporation’s common stock plus $2.06 per share cash consideration for each share of FKF common stock they owned as of the effective date of the Merger. The results of FKF’s operations and financial condition have been included in the Corporation’s unaudited Consolidated Statement of Income and unaudited Consolidated Balance Sheet beginning on July 1, 2010, the date of the acquisition.

Mr. Peters continued, “The First Keystone computer systems and signage were successfully converted to the Bryn Mawr platform on August 25, 2010, a direct result of significant planning and outstanding performance by the entire Bryn Mawr and First Keystone staff. We are now operating wholly under the “Bryn Mawr Trust” brand and are the largest community bank in the western suburbs of Philadelphia.”

SIGNIFICANT ITEMS OF NOTE

• Wealth Management Division assets under management, administration, supervision and brokerage at September 30, 2010 were $3.3 billion, up approximately $420.2 million or 14.6% from the December 31, 2009, and up approximately $580.4 million or 21.4% from September 30, 2009 due largely to the success of new initiatives within this division and improvements in the financial markets.

• Revenue from the Wealth Management Division for the third quarter of 2010 was $3.7 million, down 5.4% from second quarter 2010 revenue of $3.9 million and up 6.7% from third quarter 2009 revenue of $3.5 million. The slight decrease in revenue from the

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second quarter of 2010 is primarily due lower estate and tax preparation fees.

• Deposit levels were $1.3 billion at September 30, 2010, an increase of $321.8 million or 34.3% from December 31, 2009. This growth was largely due to the merger with FKF.

• At September 30, 2010, portfolio loan and lease balances totaled $1.2 billion, an increase of $290.7 million or 32.8% compared to $885.7 million at December 31, 2009, primarily due to the merger with FKF. The lease portfolio was $37.6 million at September 30, 2010, evidencing a planned decline of $10.2 million or 21.3% from December 31, 2009. The performance of the lease portfolio has continued to improve as the delinquency rate has declined 122 basis points from 2.87% at December 31, 2009 to 1.65% at September 30, 2010.

• The tax equivalent net interest margin was 3.66% for the third quarter of 2010, down 14 basis points from 3.80% in the second quarter of 2010, due primarily to declining market interest rates and the addition of lower yielding interest-earning assets from the FKF merger. Downward pressure on the margin is expected to continue as borrowers seek to lock in lower long-term rates.

• The Corporation’s investment portfolio at September 30, 2010 had a fair market value of $356.8 million compared to $208.2 million at December 31, 2009, due to the addition of the FKF investment portfolio of $100.9 million and the investment of acquired cash balances.

• Net revenue from the sale of residential mortgage loans for the quarter ended September 30, 2010 was $1.2 million due to the continued low interest rate environment creating robust refinancing activity. This compares with $760 thousand for the quarter ended September 30, 2009.

• At September 30, 2010, the allowance for loan and lease losses of $10.3 million was 0.88% of portfolio loans and leases compared to $10.4 million or 1.18% at December 31, 2009. The decrease in the allowance as a percentage of loans and leases is primarily due to the acquisition of the FKF loan portfolio which, in accordance with GAAP, was recorded at its fair value without its previously recorded allowance for loan and lease losses. FKF loans with a carrying value of approximately $274.8 million were acquired on July 1, 2010, net of a fair value adjustment of approximately $17.9 million.

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• Approximately $3.7 million of the $4.2 million provision for loan and lease losses in the third quarter of 2010 is related to two commercial relationships that were previously mentioned.

• Non-performing loans and leases were 92 basis points of total portfolio loans and leases at September 30, 2010, compared to 78 basis points of total portfolio loans and leases at December 31, 2009.

• The Corporation incurred merger related expenses of approximately $4.3 million during the third quarter of 2010 and $5.3 million on a year-to-date basis, primarily for investment banking, legal, employee severance, and conversion costs and vendor termination fees.

• The merger with FKF resulted in the creation of approximately $10.4 million of goodwill.

Capital ratios as shown in the following table reflect the impact of the FKF merger and the $24.6 million registered direct stock offering completed in May 2010.

Regulatory Capital Ratios:

	9/30/2010			6/30/2010			12/31/2009
Bryn Mawr Trust Company
Tier I Capital to Risk Weighted Assets (RWA)		10.35	%		10.72	%		9.06	%
Total (Tier II) Capital to RWA		12.75	%		13.73	%		12.20	%
Tier I Leverage Ratio		8.27	%		9.29	%		8.03	%
Tangible Common Equity Ratio		8.20	%		8.65	%		7.22	%
Bryn Mawr Bank Corporation
Tier I Capital to Risk Weighted Assets (RWA)		10.81	%		11.95	%		9.41	%
Total (Tier II) Capital to RWA		13.19	%		14.95	%		12.53	%
Tier I Leverage Ratio		8.65	%		10.38	%		8.35	%
Tangible Common Equity Ratio		7.95	%		9.30	%		7.51	%

DIVIDEND DECLARED

On October 28, 2010, the Corporation’s Board of Directors declared a quarterly dividend of $0.14 per share, payable December 1, 2010 to shareholders of record as of November 18, 2010.

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The Corporation will hold an earnings conference call at 8:00 a.m. ET on Tuesday, November 9, 2010. Interested parties may participate by calling 1-877-317-6789, conference #444122, at 8:00 a.m. ET. A taped replay of the conference call will be available within two hours of the conclusion of the call and will remain available through December 1, 2010. The number to call for the taped replay is 1-877-344-7529 and the Replay Passcode is 444122.

The conference call will be simultaneously broadcast live over the Internet through a webcast 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 webcast will be available within one hour 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 or by calling Aaron Strenkoski, Vice President – Finance/Investor Relations at 610-581-4822.

FORWARD LOOKING STATEMENTS AND SAFE HARBOR

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”, “possibly”, “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

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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, 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; 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; cost savings and revenue enhancements associated with our acquisition via the merger of First Keystone Financial, Inc. and First Keystone Bank; 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.

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 Statements of Income - (unaudited)

(Dollars in thousands, except per share data)

	For The Three Months Ended
	Sept 30, 2010			June 30, 2010			Mar 31, 2010			Dec 31, 2009			Sept 30, 2009
Interest income	$	18,473		$	13,824		$	13,894		$	14,191		$	14,186
Interest expense		3,691			2,773			2,777			3,266			3,856
Net interest income		14,782			11,051			11,117			10,925			10,330
Provision for loan and lease losses		4,236			994			3,113			1,302			2,305
Net interest income after provision for loan and lease losses		10,546			10,057			8,004			9,623			8,025
Fees for wealth management services		3,689			3,898			3,831			3,597			3,457
Loan servicing and other fees		422			379			381			386			367
Service charges on deposits		672			488			501			504			493
Net gain on sale of residential mortgage loans		1,189			606			525			859			760
Net gain on sale of available for sale investments		259			—			1,544			603			848
Net gain on trading investment		—			—			—			15			160
Net gain (loss) on sale of other real estate owned (“OREO”)		38			—			(152	)		—			6
BOLI income		131			—			—			—			—
Other operating income		653			519			529			577			552
Non-interest income		7,053			5,890			7,159			6,541			6,643
Salaries and wages		7,047			5,345			5,287			5,848			5,322
Employee benefits		1,646			1,364			1,558			1,253			1,281
Occupancy and bank premises		1,195			901			984			911			893
Furniture fixtures and equipment		695			557			595			575			634
Advertising		303			256			262			310			196
Net impairment /(recovery) of mortgage servicing rights		168			177			41			(175	)		(51	)
Amortization of mortgage servicing rights		206			210			199			216			186
Intangible asset amortization		77			77			77			77			77
Core deposit intangible amortization		89			—			—			—			—
FDIC insurance		416			299			314			290			265
Merger related expense		4,292			637			347			531			85
OREO expense		54			41			15			43			—
Impairment of OREO		381			—			—			—			—
Professional fees		459			459			619			702			419
Other operating expenses		2,337			1,780			1,455			1,517			1,382
Non-interest expense		19,365			12,103			11,753			12,098			10,689
(Loss) income before income taxes		(1,766	)		3,844			3,410			4,066			3,979
Income tax (benefit) expense		(746	)		1,438			1,187			1,429			1,360
Net (loss) income	$	(1,020	)	$	2,406		$	2,223		$	2,637		$	2,619
Per share data:
Weighted average shares outstanding		12,184,447			9,740,089			8,893,997			8,794,602			8,782,632
Dilutive potential common shares		—			12,476			11,017			9,112			17,664
Adjusted weighted average dilutive shares		12,184,447			9,752,565			8,905,014			8,803,714			8,800,296
Basic loss / earnings per common share	$	(0.08	)	$	0.25		$	0.25		$	0.30		$	0.30
Diluted ( loss) earnings per common share	$	(0.08	)	$	0.25		$	0.25		$	0.30		$	0.30
Dividend declared per share	$	0.14		$	0.14		$	0.14		$	0.14		$	0.14
Effective tax rate		(42.2	)%		37.4	%		34.8	%		35.1	%		34.2	%
Net interest margin		3.66	%		3.80	%		4.06	%		3.85	%		3.72	%

Bryn Mawr Bank Corporation

Consolidated Statements of Income - (unaudited)

(Dollars in thousands, except per share data)

	For The Nine Months Ended
	September 30, 2010			September 30, 2009
Interest income	$	46,191		$	42,701
Interest expense		9,241			12,833
Net interest income		36,950			29,868
Provision for loan and lease losses		8,343			5,582
Net interest income after provision for loan and lease losses		28,607			24,286
Fees for wealth management services		11,418			10,581
Loan servicing and other fees		1,183			1,001
Service charges on deposits		1,662			1,447
Net gain on sale of residential mortgage loans		2,320			5,153
Net gain on sale of available for sale investments		1,803			1,320
Net gain on trading investment		—			240
BOLI income		131			—
Net gain (loss) on sale of other real estate owned (“OREO”)		(114	)		6
Other operating income		1,699			2,181
Non-interest income		20,102			21,929
Salaries and wages		17,679			16,427
Employee benefits		4,568			4,325
Occupancy and bank premises		3,080			2,726
Furniture fixtures and equipment		1,847			1,832
Advertising		821			774
Net impairment of mortgage servicing rights		386			38
Amortization of mortgage servicing rights		615			637
Intangible asset amortization		231			231
Core deposit intangible amortization		89			—
FDIC insurance		1,029			944
FDIC insurance - special assessment		—			540
Merger expense		5,277			—
OREO expense		110			—
Impairment of OREO		381			—
Professional fees		1,537			1,306
Other operating expenses		5,571			4,664
Non-interest expense		43,221			34,444
Income before income taxes		5,488			11,771
Income tax expense		1,879			4,071
Net income	$	3,609		$	7,700
Per share data:
Weighted average shares outstanding		10,284,897			8,710,909
Dilutive potential common shares		12,836			19,254
Adjusted weighted average shares		10,297,733			8,730,163
Basic earnings per common share	$	0.35		$	0.88
Diluted earnings per common share	$	0.35		$	0.88
Dividend declared per share	$	0.42		$	0.42
Effective tax rate		34.2	%		34.6	%

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data - (unaudited)

(Dollars in thousands, except per share data )

September 30, 2010

For the period end:	2010 3Q			2010 2Q			2010 1Q			2009 4Q			2009 3Q
Asset Quality Data
Nonaccrual loans and leases	$	9,938		$	9,072		$	5,880		$	6,246		$	5,921
90 + days past due loans - still accruing		902			892			1,015			668			1,013
Nonperforming loans and leases		10,840			9,964			6,895			6,914			6,934
Other non-performing assets		1,170			1,970			—			1,025			1,521
Total nonperforming assets	$	12,010		$	11,934		$	6,895		$	7,939		$	8,455
Troubled debt restructurings in compliance with modified terms	$	2,375		$	2,000		$	3,894		$	1,622		$	1,462
Acquired nonperforming loans (included in totals above)	$	3,194		$	—		$	—		$	—		$	—
Nonperforming loans and leases / portfolio loans		0.92	%		1.11	%		0.77	%		0.78	%		0.78	%
Nonperforming assets / assets		0.70	%		0.93	%		0.56	%		0.64	%		0.71	%
Net loan and lease charge-offs (annualized)/ average loans		1.53	%		0.40	%		1.70	%		0.53	%		1.08	%
Delinquency rate - loans and leases >30 day		1.62	%		1.37	%		1.10	%		1.10	%		1.23	%
Delinquent loans and leases - 30-89 days	$	8,283		$	2,481		$	2,917		$	2,678		$	3,977
Delinquency rate - loans and leases 30-89 days		0.71	%		0.28	%		0.33	%		0.30	%		0.45	%
Changes in the Allowance for loan and lease losses
Balance, beginning of period	$	9,841		$	9,740		$	10,424		$	10,299		$	10,389
Charge-offs		(3,934	)		(1,071	)		(3,946	)		(1,385	)		(2,581	)
Recoveries		154			178			149			208			186
Net (charge-offs) / recoveries		(3,780	)		(893	)		(3,797	)		(1,177	)		(2,395	)
Provision for loan and lease losses		4,236			994			3,113			1,302			2,305
Balance, end of period	$	10,297		$	9,841		$	9,740		$	10,424		$	10,299
Allowance for loan and lease losses / loans and leases		0.88	%		1.09	%		1.09	%		1.18	%		1.16	%
Allowance for loan and lease losses / nonperforming loans and leases		95.0	%		98.8	%		141.3	%		150.8	%		148.5	%

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data - (unaudited)

(Dollars in thousands, except per share data )

September 30, 2010

For the period and period end:	2010 3Q			2010 2Q			2010 1Q			2009 4Q			2009 3Q
Selected ratios (annualized):
Return on average assets		-0.29	%		0.77	%		0.76	%		0.87	%		0.89	%
Return on average shareholders’ equity		-3.16	%		8.10	%		8.59	%		10.22	%		10.39	%
Yield on loans and leases*		5.72	%		5.72	%		5.76	%		5.75	%		5.79	%
Yield on interest earning assets*		4.57	%		4.74	%		5.06	%		4.99	%		5.09	%
Cost of interest bearing funds		1.09	%		1.22	%		1.28	%		1.45	%		1.73	%
Net interest margin*		3.66	%		3.80	%		4.06	%		3.85	%		3.72	%
Book value per share	$	12.99		$	12.72		$	11.86		$	11.72		$	11.62
Tangible book value per share	$	11.03		$	11.62		$	10.56		$	10.40		$	10.44
Period end shares outstanding		12,190,991			10,550,619			8,958,970			8,866,420			8,783,130
Selected data:
Mortgage loans originated	$	67,304		$	28,349		$	24,346		$	34,975		$	35,025
Mortgage loans sold - servicing retained	$	34,874		$	17,358		$	18,737		$	31,503		$	29,577
Mortgage loans sold - servicing released	$	2,234		$	3,370		$	1,747		$	1,335		$	3,474
Mortgage loans serviced for others	$	578,293		$	519,153		$	520,023		$	514,875		$	499,503
Total Wealth assets under management / administration / supervision / brokerage(1)	$	3,291,293		$	3,100,162		$	3,109,563		$	2,871,143		$	2,710,867

* 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.

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data - (unaudited)

(Dollars in thousands)

September 30, 2010

	2010 Year-to-date			2009 Year-to-date
Selected ratios (annualized):
Return on average assets		0.34	%		0.88	%
Return on average shareholders’ equity		3.77	%		10.66	%
Yield on loans and leases*		5.73	%		5.83	%
Yield on interest earning assets*		4.76	%		5.19	%
Cost of interest bearing funds		1.18	%		1.94	%
Net interest margin*		3.82	%		3.64	%
Selected data:
Mortgage loans originated	$	119,999		$	256,638
Mortgage loans sold - servicing retained	$	70,969		$	235,256
Mortgage loans sold - servicing released	$	7,351		$	4,887

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

Investment Portfolio ($’s in thousands)	As of September 30, 2010						As of December 31, 2009							As of September 30, 2009
SECURITY DESCRIPTION	Amortized Cost		Fair Value		Net Unrealized Gain / (Loss)		Amortized Cost		Fair Value		Net Unrealized Gain / (Loss)			Amortized Cost		Fair Value		Net Unrealized Gain / (Loss)
Short term bond fund		—		—		—		—		—		—			5,076		5,076		—
Total Trading Securities		—		—		—		—		—		—			5,076		5,076		—
U. S. treasury obligations	$	5,012	$	5,227	$	215	$	—	$	—	$	—		$	—	$	—	$	—
U. S. government agency securities		186,430		187,609		1,179		85,462		85,061		(401	)		55,159		55,242		83
State & political subdivisions		29,959		30,614		655		24,859		25,024		165			24,628		25,094		466
State & political subdivisions - taxable		3,750		3,980		230		—		—		—			—		—		—
FNMA/FHLMC mortgage backed securities		41,632		42,431		799		49,318		50,952		1,634			52,963		54,826		1,863
GNMA mortgage backed securities		19,392		19,402		10		8,607		8,718		111			7,580		7,726		146
CMO mortgage backed securities		2,461		2,490		29		—		—		—			—		—		—
Equity stocks		243		294		51		—		—		—			—		—		—
Foreign debt securities		1,250		1,250		—		1,500		1,499		(1	)		1,450		1,450		—
Bond - mutual funds		62,354		63,541		1,187		36,943		36,970		27			11,722		11,783		61
Corporate bonds		—		—		—		—		—		—			12,231		12,634		403
Total Available for Sale Securities	$	352,483	$	356,838	$	4,355	$	206,689	$	208,224	$	1,535		$	165,733	$	168,755	$	3,022
Total Investment Portfolio	$	352,483	$	356,838	$	4,355	$	206,689	$	208,224	$	1,535		$	170,809	$	173,831	$	3,022

Capital Ratios

	Regulatory Minimum To Be Well Capitalized			9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2009
Bryn Mawr Trust Company Consolidated
Tier I Capital to Risk Weighted Assets (RWA)		6.00	%		10.35	%		10.72	%		9.32	%		9.06	%		8.91	%
Total (Tier II) Capital to RWA		10.00	%		12.75	%		13.73	%		12.41	%		12.20	%		12.06	%
Tier I Leverage Ratio		5.00	%		8.27	%		9.29	%		8.28	%		8.03	%		7.98	%
Tangible Common Equity Ratio					8.20	%		8.65	%		7.50	%		7.22	%		7.34	%
Bryn Mawr Bank Corporation
Tier I Capital to Risk Weighted Assets (RWA)		6.00	%		10.81	%		11.95	%		9.70	%		9.41	%		9.36	%
Total (Tier II) Capital to RWA		10.00	%		13.19	%		14.95	%		12.78	%		12.53	%		12.49	%
Tier I Leverage Ratio		5.00	%		8.65	%		10.38	%		8.63	%		8.35	%		8.39	%
Tangible Common Equity Ratio					7.95	%		9.30	%		7.82	%		7.51	%		7.74	%

Bryn Mawr Bank Corporation

Consolidated Balance Sheets - (unaudited)

(Dollars in thousands)

For the period ended:	Sept 30, 2010			June 30, 2010			Mar 31, 2010			Dec 31, 2009			Sept 30, 2009
Assets
Interest bearing deposits with banks	$	42,089		$	43,943		$	71,680		$	58,472		$	48,351
Fed funds sold		—			—			—			—			—
Money market funds		223			86			402			9,175			18,140
Trading securities		—			—			—			—			5,316
Investment securities - AFS		356,838			254,888			173,816			208,224			168,754
Total investment securities		356,838			254,888			173,816			208,224			174,070
Loans held for sale		4,686			4,254			2,214			3,007			4,133
Portfolio loans:
Consumer		13,255			12,272			12,059			12,717			11,412
Commercial & industrial		239,823			235,080			234,300			233,288			237,340
Commercial mortgages		358,486			278,614			275,068			265,023			256,293
Construction		48,674			43,787			41,506			38,444			37,221
Residential mortgages		251,836			108,009			110,412			110,653			118,098
Home equity lines & loans		226,765			180,826			175,748			177,863			174,273
Leases		37,599			40,702			44,007			47,751			51,842
Total portfolio loans and leases		1,176,438			899,290			893,100			885,739			886,479
Earning assets		1,580,274			1,202,461			1,141,212			1,164,617			1,131,173
Cash and due from banks		11,090			14,593			17,995			11,670			9,381
Allowance for loan and lease losses		(10,297	)		(9,841	)		(9,740	)		(10,424	)		(10,299	)
Premises and equipment		29,340			21,779			21,724			21,438			21,310
Goodwill		16,671			6,301			6,301			6,301			4,824
Intangible assets		5,190			5,267			5,344			5,421			5,498
Core deposit intangible		2,038			—			—			—			—
Bank owned life insurance (“BOLI”)		18,838			—			—			—			—
FHLB stock		14,976	��		7,916			7,916			7,916			7,916
Deferred income taxes		15,071			4,596			4,960			4,991			5,253
Other assets		30,993			27,600			25,499			26,891			20,469
Total assets	$	1,714,184		$	1,280,672		$	1,221,211		$	1,238,821		$	1,195,525
Liabilities and shareholders’ equity
Interest-bearing checking	$	206,091		$	149,762		$	143,735		$	151,432		$	128,551
Money market		324,384			261,578			244,747			229,836			209,574
Savings		140,296			98,760			103,233			101,719			98,189
Other wholesale deposits		65,124			63,260			47,687			52,174			54,104
Wholesale deposits		34,834			33,421			43,352			36,118			64,679
Time deposits		261,839			141,803			136,927			153,705			176,388
Interest-bearing deposits		1,032,568			748,584			719,681			724,984			731,485
Non-interest bearing deposits		227,080			204,898			194,697			212,903			167,991
Total deposits		1,259,648			953,482			914,378			937,887			899,476
Subordinated debentures		22,500			22,500			22,500			22,500			22,500
Junior subordinated debentures		12,041
Repurchase agreements		11,883
Borrowed funds		221,793			139,640			142,244			144,826			147,386
Mortgage payable		2,016			2,031			2,046			2,062			2,076
Other liabilities		25,976			28,838			33,772			27,610			22,040
Shareholders’ equity		158,327			134,181			106,271			103,936			102,047
Total liabilities and shareholders’ equity	$	1,714,184		$	1,280,672		$	1,221,211		$	1,238,821		$	1,195,525
Consolidated Quarterly Average Balance Sheets - (unaudited)
	2010 3Q			2010 2Q			2010 1Q			2009 4Q			2009 3Q
Assets
Interest bearing deposits with banks	$	95,226		$	60,317		$	27,300		$	52,958		$	33,560
Fed funds sold		—			—			—			—			—
Money market funds		106			248			1,426			14,334			28,877
Trading securities		—			—			—			1,502			5,189
Investment securities		346,275			223,901			200,482			182,925			160,365
Loans held for sale		3,741			3,107			2,975			4,441			5,307
Portfolio loans and leases		1,171,605			894,657			892,184			882,956			881,519
Earning assets		1,616,953			1,182,230			1,124,367			1,139,116			1,114,817
Cash and due from banks		12,668			10,079			10,627			11,713			11,191
Allowance for loan and lease losses		(10,068	)		(9,904	)		(10,620	)		(10,557	)		(10,529	)
Premises and equipment		29,685			21,860			21,578			21,358			21,417
Goodwill		16,671			6,302			6,302			4,840			4,824
Intangible assets		5,234			5,311			5,388			5,465			5,543
Core deposit intangible		2,097			—			—			—			—
Bank owned life insurance		18,750			—			—			—			—
Deferred tax asset		13,310			4,800			4,734			5,173			5,196
Other assets		44,748			31,924			31,183			27,294			27,004
Total assets	$	1,750,048		$	1,252,602		$	1,167,247		$	1,177,871		$	1,152,850
Liabilities and shareholders’ equity
Interest-bearing checking	$	215,846		$	150,604		$	143,935		$	139,494		$	132,436
Money market		318,943			253,425			240,542			218,691			189,768
Savings		141,180			101,444			99,925			93,687			94,778
Other wholesale deposits		67,596			65,576			42,030			53,617			27,790
Wholesale deposits		36,864			36,387			43,026			56,447			74,347
Time deposits		269,653			142,552			139,959			162,300			192,275
Interest-bearing deposits		1,050,082			749,988			709,417			724,236			711,394
Non-interest bearing deposits		226,439			193,118			189,314			185,133			172,257
Total deposits		1,276,521			943,106			898,731			909,369			883,651
Subordinated debentures		22,500			22,500			22,500			22,500			22,500
Junior subordinated debentures		12,066			—			—			—			—
Repurchase agreements		10,848			—			—			—			—
Borrowed funds		241,672			140,836			143,939			145,994			148,632
Mortgage payable		2,026			2,040			2,056			2,070			2,085
Other liabilities		25,434			24,982			21,315			22,150			22,602
Shareholders’ equity		158,981			119,138			105,018			102,319			99,993
Total liabilities and shareholders’ equity	$	1,750,048		$	1,252,602		$	1,193,559		$	1,204,402		$	1,179,463

Bryn Mawr Bank Corporation

Consolidated Nine Month Average Balance Sheets - (unaudited)

(Dollars in thousands)

September 30, 2010

	2010 Year-to-date			2009 Year-to-date
Assets
Interest bearing deposits with banks	$	61,196		$	28,876
Fed funds sold		—			733
Money market funds		589			46,860
Trading securities		—			2,561
Investment securities		257,454			132,625
Loans held for sale		3,274			6,001
Portfolio loans and leases		987,175			888,243
Earning assets		1,309,688			1,105,899
Cash and due from banks		11,132			11,092
Allowance for loan and lease losses		(10,195	)		(10,375	)
Premises and equipment		24,404			21,404
Goodwill		9,796			4,784
Intangible assets		5,311			5,619
Core deposit intangible		707			—
Bank owned life insurance		6,319			—
FHLB stock		9,696			7,916
Deferred tax asset		7,646			5,428
Other assets		26,271			20,672
Total assets	$	1,400,775		$	1,172,439
Liabilities and shareholders’ equity
Interest-bearing checking	$	170,391		$	135,093
Money market		271,257			173,947
Savings		114,334			84,875
Other wholesale deposits		57,317			27,373
Wholesale deposits		39,914			92,319
Time deposits		184,530			199,429
Interest-bearing deposits		837,743			713,036
Non-interest bearing deposits		203,093			168,201
Total deposits		1,040,836			881,237
Subordinated debentures		22,500			19,505
Borrowed funds		175,840			151,265
Junior subordinated debentures		4,066			—
Repurchase agreements		3,656			—
Mortgage payable		2,041			1,241
Other liabilities		23,926			22,621
Shareholders’ equity		127,910			96,570
Total liabilities and shareholders’ equity	$	1,400,775		$	1,172,439

Quarterly Average Balances and Tax Equivalent Income and Expense and Tax Equivalent Yields - (unaudited)

	3rd Quarter 2010								2nd Quarter 2010								1st Quarter 2010								4th Quarter 2009								3rd Quarter 2009
(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	$	95,226		$	61		0.25	%	$	60,317		$	37		0.25	%	$	27,300		$	14		0.21	%	$	52,958		$	30		0.22	%	$	33,560		$	14		0.17	%
Federal funds sold		—			—		—			—			—		—			—			—		—			—			—		—			—			—		—
Money market funds		106			—		—			248			—		—			1,426			1		0.28	%		14,334			9		0.25	%		28,877			26		0.36	%
Investment securities available for sale:
Taxable		316,276			1,351		1.69	%		199,106			867		1.75	%		175,632			1,021		2.36	%		159,015			1,144		2.85	%		144,073			1,079		2.97	%
Tax-exempt		29,999			272		3.60	%		24,796			271		4.38	%		24,850			278		4.54	%		25,412			278		4.34	%		21,481			236		4.36	%
Investment securities available for sale		346,275			1,623		1.86	%		223,902			1,138		2.04	%		200,482			1,299		2.63	%		184,427			1,422		3.06	%		165,554			1,315		3.15	%
Loans and leases *		1,175,346			16,944		5.72	%		897,764			12,801		5.72	%		895,159			12,724		5.76	%		887,397			12,860		5.75	%		886,826			12,943		5.79	%
Total interest earning assets		1,616,953			18,628		4.57	%		1,182,231			13,976		4.74	%		1,124,367			14,038		5.06	%		1,139,116			14,321		4.99	%		1,114,817			14,298		5.09	%
Cash and due from banks		12,668								10,079								10,627								11,713								11,191
Less allowance for loan and lease losses		(10,068	)							(9,904	)							(10,620	)							(10,557	)							(10,529	)
Other assets		130,495								70,196								69,185								64,130								63,984
Total assets	$	1,750,048							$	1,252,602							$	1,193,559							$	1,204,402							$	1,179,463
Liabilities:
Savings, NOW and market rate deposits	$	675,969		$	841		0.49	%	$	505,473		$	666		0.53	%	$	484,402		$	656		0.55	%	$	451,873		$	752		0.66	%	$	416,982		$	729		0.69	%
Other wholesale deposits		67,596			81		0.48	%		65,576			79		0.48	%		42,030			51		0.49	%		53,617			60		0.44	%		27,790			37		0.53	%
Wholesale deposits		36,864			161		1.73	%		36,387			162		1.79	%		43,026			185		1.74	%		56,446			278		1.95	%		74,347			428		2.28	%
Time deposits		269,653			654		0.96	%		142,552			458		1.29	%		139,959			454		1.32	%		162,300			681		1.66	%		192,275			1,094		2.26	%
Total interest-bearing deposits		1,050,082			1,737		0.66	%		749,988			1,365		0.73	%		709,417			1,346		0.77	%		724,236			1,771		0.97	%		711,394			2,288		1.28	%
Subordinated debentures		22,500			293		5.17	%		22,500			280		4.99	%		22,500			273		4.92	%		22,500			282		4.97	%		22,500			299		5.27	%
Junior subordinated debentures		12,066			223		7.33	%		—			—		—			—			—		—			—			—		—			—			—		—
Repurchase agreements		10,848			8		0.29	%		—			—		—			—			—		—			—			—		—			—			—		—
Mortgage payable		2,026			29		5.68	%		2,040			29		5.70	%		2,056			28		5.52	%		2,070			29		5.56	%		2,085			30		5.71	%
Borrowed funds		241,672			1,401		2.30	%		140,836			1,099		3.13	%		143,939			1,130		3.18	%		145,995			1,184		3.22	%		148,632			1,239		3.31	%
Total interest-bearing liabilities		1,339,194			3,691		1.09	%		915,364			2,773		1.22	%		877,912			2,777		1.28	%		894,801			3,266		1.45	%		884,611			3,856		1.73	%
Noninterest-bearing deposits		226,439								193,118								189,314								185,133								172,257
Other liabilities		25,434								24,982								21,315								22,149								22,602
Total noninterest-bearing liabilities		251,873								218,100								210,629								207,282								194,859
Total liabilities		1,591,067								1,133,464								1,088,541								1,102,083								1,079,470
Shareholders’ equity		158,981								119,138								105,018								102,319								99,993
Total liabilities and shareholders’ equity	$	1,750,048							$	1,252,602							$	1,193,559							$	1,204,402							$	1,179,463
Interest income to earning assets							4.57	%							4.74	%							5.06	%							4.99	%							5.09	%
Net interest spread							3.48	%							3.52	%							3.78	%							3.54	%							3.36	%
Effect of noninterest-bearing sources							0.18	%							0.28	%							0.28	%							0.31	%							0.36	%
Net interest income/ margin on earning assets				$	14,937		3.66	%				$	11,203		3.80	%				$	11,261		4.06	%				$	11,055		3.85	%				$	10,442		3.72	%
Tax equivalent adjustment				$	155		0.04	%				$	152		0.05	%				$	144		0.05	%				$	130		0.04	%				$	112		0.02	%

* 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 - (unaudited)

For the Nine Months Ended September 30,

	2010								2009
(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	$	61,196		$	112		0.24	%	$	28,876		$	43		0.20	%
Federal funds sold		—			—		—			733			1		0.18	%
Money market funds		589			1		0.23	%		46,860			188		0.54	%
Investment securities available for sale:
Taxable		230,887			3,240		1.88	%		119,928			3,253		3.63	%
Tax-exempt		26,567			821		4.13	%		15,258			496		4.35	%
Investment securities available for sale		257,454			4,061		2.11	%		135,186			3,749		3.71	%
Loans and leases *		990,449			42,468		5.73	%		894,244			38,977		5.83	%
Total interest earning assets		1,309,688			46,642		4.76	%		1,105,899			42,958		5.19	%
Cash and due from banks		11,132								11,092
Less allowance for loan and lease losses		(10,195	)							(10,375	)
Other assets		90,150								65,823
Total assets	$	1,400,775							$	1,172,439
Liabilities:
Savings, NOW and market rate deposits	$	555,982		$	2,164		0.52	%	$	393,915		$	2,343		0.80	%
Other wholesale deposits		57,317			213		0.50	%		27,373			89		0.43	%
Wholesale deposits		39,914			506		1.69	%		92,319			1,805		2.61	%
Time deposits		184,530			1,566		1.13	%		199,429			3,963		2.66	%
Total interest-bearing deposits		837,743			4,449		0.71	%		713,036			8,200		1.54	%
Subordinated debentures		22,500			846		5.03	%		19,505			825		5.66	%
Mortgage payable		2,041			86		5.63	%		1,241			53		5.71	%
Junior subordinated debentures		4,066			223		7.33			—			—		—
Repurchase agreements		3,656			8		0.29			—			—		—
Borrowed funds		175,840			3,629		2.76	%		151,265			3,755		3.32	%
Total interest-bearing liabilities		1,045,846			9,241		1.18	%		885,047			12,833		1.94	%
Noninterest-bearing deposits		203,093								168,201
Other liabilities		23,926								22,621
Total noninterest-bearing liabilities		227,019								190,822
Total liabilities		1,272,865								1,075,869
Shareholders’ equity		127,910								96,570
Total liabilities and shareholders’ equity	$	1,400,775							$	1,172,439
Interest income to earning assets							4.76	%							5.19	%
Net interest spread							3.58	%							3.25	%
Effect of noninterest-bearing sources							0.24	%							0.39	%
Net interest income/ margin on earning assets				$	37,401		3.82	%				$	30,125		3.64	%
Tax equivalent adjustment				$	451		0.05	%				$	257		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.