Bryn Mawr Bank Corp., parent of The Bryn Mawr Trust Company, reported net income of $5.3 million for the three months ended March 31.
This compares to net income of $5.1 million for the same period in 2012. Bryn Mawr, which has one branch in northern Delaware is slated to acquire MidCoast Community Bank.
MidCoast is based in Wilmington
Ted Peters, CEO commented, “As our first quarter results show, we managed to sustain the strong quarterly performance that we delivered throughout last year. We anticipate continued improvement through 2013.”
As announced on March 29, Bryn Mawr entered into a definitive agreement to merge with MidCoast Community Bancorp, Inc.
The transaction is expected to close late in the third quarter of 2013 and is subject to regulatory and shareholder approvals.
