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BRYN MAWR BANK CORPORATION REPORTS RESULTS

 BRYN MAWR BANK CORPORATION REPORTS RESULTS
 BRYN MAWR, Pa., April 15 /PRNewswire/ -- Bryn Mawr Bank Corporation


(NASDAQ: BMTC) today reported net income of $829,000 for the first quarter of 1992, a 184 percent increase over $292,000 for the same period in 1991.
 Earnings per share were $.76 for the first quarter of 1992, up from $.27 for the first quarter of 1991, based on 1,085,110 average shares outstanding.
 According to corporation President Robert L. Stevens, "After suffering severe losses in the second and third quarters of 1991, the corporation managed to turn a profit for the fourth quarter. The positive signs of progress evident in last year's fourth quarter performance continued throughout the first three months of '92. As of March 31, 1992, non-performing assets had been reduced $1 million from year-end 1991 levels. Since March 31, 1991, non-performing assets have been reduced by 32 percent, from $18 million to $12.3 million. The loan loss reserve stood at 119 percent of non-performing loans and 3.3 percent of the total loan portfolio at first quarter-end 1992 compared to 31 percent of non-performing loans and 2.0 percent of total loans at March 31, 1991. We feel that our strong reserve position will enable us to offset potential problem loans as we progress through this period of slow economic recovery."
 Total assets decreased 4 percent, to $285.1 million at March 31, 1992, from first quarter 1991's asset total of $297.1 million. The loan portfolio of The Bryn Mawr Trust Company, the corporation's principal subsidiary, was down 10 percent, to $182.3 million at March 31, 1992, from $202.9 million in first quarter 1991. Partially offsetting the decrease in outstanding loans was a 19 percent increase in investment securities, to $45.5 million from $38.1 million last year. This resulted in a 47 percent increase in interest on investment securities.
 Total deposits decreased 3 percent, to $260 million in first quarter 1992 from $267.6 million in 1991. Demand deposits remained level, while savings and time deposits were down 4 percent, from $208.4 million to $200.8 million.
 The reduction in shareholders' equity to $18.9 million from $24 million was primarily due to the losses incurred in the second and third quarters of 1991. At March 31, 1992, the ratio of equity to total assets stood at 6.6 percent, compared to 8.1 percent at March 31, 1991.
 Rapidly declining interest rates, experienced during the past 12 months, were primarily responsible for an 11 percent decline in total interest income. Offsetting this was a 29 percent decrease in interest expense on deposits. Thus, net interest income before loan loss provision increased $193,000.
 As a result of the major increases in the loan loss reserve accomplished during 1991, coupled with a reduction in non-performing loans, the loan loss provision established for the first three months of 1992 was $125,000 in comparison to a $350,000 loan loss provision in first quarter 1991.
 Other income grew 18 percent, to $1,768,000 for the first quarter of 1992 from $1,494,000 for the same period in 1991. Fees for trust services, included in other income, increased 20 percent, to $1,075,000 from $895,000.
 Total other expenses grew 3 percent, to $4,048,000 for the first quarter of 1992 from $3,946,000 in first quarter 1991. Salaries and employee benefits were down 7 percent, from $2,085,000 in 1991 to $1,942,000. Other operating expenses, however, increased 21 percent, from $1,308,000 in 1991 to $1,580,000 in 1992. The increase was primarily brought about as a result of a $73,000 increase in the cost of operating and maintaining other real estate owned, a $101,000 increase in legal fees primarily related to the management of non-performing assets, a $78,000 increase in consulting fees, a $51,000 increase in appraisal fees, and a $23,000 increase in FDIC insurance deposit premiums.
 /delval/
 -0- 4/15/92
 /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


KA-CC -- PH015 -- 8632 04/15/92 11:11 EDT
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Date:Apr 15, 1992
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