Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Bryn Mawr Bank Buying Midcoast Community Bancorp

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

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.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2337495, ~/Articles/ArticleHandler.aspx, 9/29/2016 4:33:59 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 6 hours ago Sponsored by:
DOW 18,339.24 110.94 0.61%
S&P 500 2,171.37 11.44 0.53%
NASD 5,318.55 12.84 0.24%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/28/2016 4:00 PM
BMTC $31.91 Up +0.33 +1.04%
Bryn Mawr Bank CAPS Rating: No stars