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BRYN MAWR BANK CORPORATION ANNOUNCES EARNINGS

 BRYN MAWR, Pa., July 15 /PRNewswire/ -- Robert L. Stevens, president of Bryn Mawr Bank Corporation (NASDAQ: BMTC), today announced that the corporation continued to enjoy strong earnings in the second quarter of 1993 with net income of $963,000, $.88 per share, a 20 percent increase over net income of $802,000, or $.74 per share, reported for the second quarter of 1992.
 Per-share figures are based on 1,088,610 average shares outstanding in second quarter 1993 and 1,085,110 shares outstanding in second quarter 1992.
 For the first six months of 1993, income before the cumulative effect of an accounting change was $1,795,000, or $1.65 per share, as compared to $1,381,000, or $1.27 per share, reported for the first six months of 1992, an increase of 30 percent. After adjustments were made to reflect the cumulative effect of the accounting change in the first quarter of 1993 and the extraordinary tax credit reflected in the second quarter of 1992, net income for the first six months of 1993 was $1,620,000, or $1.49 per share, a 1 percent decrease from $1,631,000, or $1.50 per share, reported for the same period in 1992. Per-share earnings are based on 1,087,830 average shares outstanding for the first six months of 1993 and 1,085,110 average shares outstanding for the first six months of 1992.
 Stevens stated, "Second quarter core earnings (income before taxes and the one-time accounting change) were up 43 percent."
 The Bryn Mawr Trust Company, the subsidiary of Bryn Mawr Bank Corporation, continued to look for new sources of fee income. While net interest income decreased 3 percent for the second quarter of 1993 compared to second quarter 1992, the corporation was able to increase fee-based revenue by 37 percent while holding expenses to a 7 percent increase. The bank's trust department's revenue increased 10 percent. Other operating income grew 78 percent, primarily as a result of gains reported on the sale of mortgage loans in the secondary mortgage market -- loans closed with no points and sold at a rate which enabled the bank to record a gain. For the first six months of 1993, total other operating income grew 27 percent, while other expenses grew only 3 percent.
 For the quarter, salary and benefit expenses were up 14 percent due to increases in expenses related to incentive programs including mortgage origination profitability, as well as the adoption of Statement of Financial Accounting Standards No. 106, "Accounting for Post- Retirement Benefits." Included in this increase was regular staffing salary expense, up 8 percent for the quarter compared to 1992 levels and 7 percent for the six-month period.
 While total assets grew 4 percent during the 12 months since June 30, 1992, total outstanding loans remained level with last year's totals. Consumer loans outstanding were up 7 percent, and commercial loans outstanding increased 10 percent, offsetting the combined effect of the directed reduction in construction loan totals and the continued sale of residential mortgage loans in the secondary market.
 During the second quarter of 1993, the bank acquired, for $3,532,000, the balance of a residential construction loan portfolio in which it had sold a participation to Home Unity Savings Bank. Included in this balance were $309,000 in nonperforming loans and $1,787,000 in other real estate owned (OREO). In spite of the acquisition of these nonperforming assets, the bank, because of additional collections of nonperforming loans as well as sales of OREO and writedowns of OREO balances, reduced its nonperforming assets by 2 percent, from $9,044,000 as of March 31, 1993, to $8,850,000 at June 30, 1993, which was a 17 percent decrease from the $10,663,000 in nonperforming assets as of June 30, 1992.
 The 43 percent growth over the past 12 months in investment securities owned was a result of a number of factors, including growth in deposits, a reduction in federal funds sold balances, and an increase in total shareholders' equity.
 Total deposits grew 4 percent since June 30, 1992, with savings and time deposits experiencing a 6 percent growth. Included in savings and time deposits are the deposits created from the bank's Centennial Gold 50 promotion. During the second quarter of 1993, the bank opened 352 new Centennial Gold 50 accounts, which brought the total new Centennial Gold 50 accounts opened to 913, representing $4.1 million in average deposit balances.
 The corporation's capital, as a percentage of total assets, rose to 7.6 percent at June 30, 1993, up from 6.9 percent the year before. The bank's Tier I and Tier II capital ratios were 10.02 percent and 11.28 percent, respectively, at June 30, 1993. The FDIC considers a bank to be well-capitalized when it has a Tier II ratio of 10 percent or better.
 The corporation's board of directors approved a regular quarterly dividend of $.10 per share, payable Sept. 1, 1993, to shareholders of record as of Aug. 6.
 BRYN MAWR BANK CORPORATION
 (In thousands, except per-share data)
 2nd Quarter Pct. Year-to-Date Pct.
 Periods ended June 30 1993 1992 Change 1993 1992 Change
 INCOME STATEMENT:
 Net interest income $3,317 $3,428 (3) $6,511 $6,752 (4)
 Other income 2,300 1,677 37 4,362 3,445 27
 Other expense 4,243 3,958 7 8,268 8,008 3
 Income before income taxes,
 cumulative effect of
 accounting change and
 extraordinary credit 1,249 872 43 2,355 1,791 31
 Net income 963 802 20 1,620 1,631 (1)
 Per share:
 Income before cumulative effect
 of accounting change and
 extraordinary credit $.88 $.51 73 $1.65 $1.27 30
 Net income .88 .74 19 1.49 1.50 (1)
 BALANCE SHEET:
 At June 30 1993 1992 Pct. Change
 Total assets $298,262 $286,247 4
 Total loans 187,375 187,354 0
 Total earning assets 262,666 247,503 6
 Total deposits 270,025 260,483 4
 Total capital 22,753 19,696 16
 Capital to assets
 ratio (pct.) 7.6 6.9 ---
 /delval/
 -0- 7/15/93
 /CONTACT: Robert L. Stevens, president, 215-526-2300, or evenings, 215-296-5539, or Joseph W. Rebl, treasurer and assistant secretary, 215-526-2466, or evenings, 215-828-7798, both of Bryn Mawr Bank/
 (BMTC) CO: Bryn Mawr Bank Corporation ST: Pennsylvania IN: FIN SU: ERN DIV


MK-LJ -- PH012 -- 1895 07/15/93 11:14 EDT
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Date:Jul 15, 1993
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