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Bryn Mawr Bank Buying Midcoast Community Bancorp

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Bryn Mawr Bank Corp (NASDAQ: BMTC  ) is buying privately held, Wilmington, Delaware-based MidCoast Community Bancorp in a deal valued at $33 million, the companies announced Thursday. With this new acquisition comes four bank branches, a $235 million loan portfolio, and approximately $250 million in deposits.

Bryn Mawr will pay its purchase price in the form of 0.52 shares of its own stock, traded for each outstanding share of MidCoast, with the deal set to close late in Q3 2013. The result will be a merged banking institution, operating under Bryn Mawr's brand name, with $2 billion in assets.

Bryn Mawr shares are reacting positively to the announcement, rising 0.2% in early Thursday, trading to sell for around $23.50 apiece.


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Rich Smith
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As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

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Related Tickers

7/2/2015 4:00 PM
BMTC $30.14 Down -0.37 -1.21%
Bryn Mawr Bank Cor… CAPS Rating: *****

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