Frank Leto of Bryn Mawr Bank (NASDAQ: BMTC) Details His Strategy for Expansion

January 8, 2018

Frank Leto is the President and CEO of Bryn Mawr Bank Corporation (NASD:  BMTC) and Bryn Mawr Trust. Mr. Leto has been President since May 1, 2014, and Chief Executive Officer since January 1, 2015, as well as Chief Operating Officer from May 1, 2014 through December 31, 2015. He was also the Executive Vice President and head of the Bank’s Wealth Management Division from January 2009 through April 2014, and General Counsel of the Bank from April 2012 to April 2014.

The bank has made very bold moves to expand regionally.  “Over the last eight years or so, we have completed nine acquisitions. Royal Bank is our 10th one and will be completed in the next few weeks before year end. To take you quickly through them, in 2010 we acquired a bank called First Keystone Bank located in Delaware County, Pennsylvania, which is a contiguous county to Bryn Mawr Trust, and so it gave us a good strong foundation in that county. In 2012, we actually had two acquisitions that year. We first acquired Davidson Trust Company, which was a trust company located in market about $1 billion of assets. The year previous to that, in 2011, we acquired Hershey Trust Company’s private wealth management group that had about $1.1 billion in assets that was being managed in Hershey, Pennsylvania in Central Pennsylvania. We acquired that group and have continued to operate that in Hershey.”

The growth phase has included an insurance subsidiary as well.  “In 2014, we acquired our first insurance agency, and subsequent to that we merged our existing insurance agency into that one, and that has formed the basis of growing the group. Subsequent to that we acquired RM McAllister Agency, and then most recently in May of this year we acquired the Hirshorn Boothby agency.”

Read the entire interview with complete details about CEO Frank Leto’s plans for the Bryn Mawr Bank in the Wall Street Transcript.