425

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (date of earliest event reported): January 28, 2010

Bryn Mawr Bank Corporation

(Exact Name of Registrant as specified in its charter)

Pennsylvania	0-15261	23-2434506
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

801 Lancaster Avenue, Bryn Mawr, PA 19010

Registrant’s telephone number, including area code: 610-525-1700

None

(Former name or former address, if changed since last report)

Check the appropriate box below if the form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instructions A.2. below):

x Written communications pursuant to Rule 425 under the Securities Act (17CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR 240.13e-4(c))

Item 2.02. Disclosure of Results of Operations and Financial Condition.

On January 28, 2010, Bryn Mawr Bank Corporation (the “Corporation”), the parent of The Bryn Mawr Trust Company, issued a Press Release announcing the results of operations for the quarter ending December 31, 2009. The Press Release, attached as Exhibit 99.1, is incorporated into this Item 2.02 by reference.

The information in this Current Report on Form 8-K, including the exhibit attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that Section. Furthermore, such information, including the exhibit attached hereto, shall not be deemed incorporated by reference into any of the Corporation’s reports or filings with the Securities and Exchange Commission, whether made before or after the date hereof, except as expressly set forth by specific reference in such report or filing. The information in this Current Report on Form 8-K, including the exhibit attached hereto, shall not be deemed an admission as to the materiality of any information in this report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD. The information on the Corporation’s website is not a part of this Current Report on Form 8-K.

Item 7.01. Regulation FD Disclosure.

The information set forth in Item 2.02 of this Current Report on Form 8-K, including the exhibit incorporated therein, is incorporated in this Item 7.01 by reference.

Item 8.01. Other Events.

The information set forth in Item 2.02 of this Current Report on Form 8-K, including the exhibit incorporated therein, is incorporated in this Item 8.01 by reference.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

99.1—Press Release dated January 28, 2010

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

BRYN MAWR BANK CORPORATION
By:	/S/    FREDERICK C. PETERS II
	Frederick C. Peters II, President and Chief Executive Officer

Date: January 28, 2010

3

EXHIBIT INDEX

Exhibit 99.1 Press Release dated January 28, 2010

4

EX-99.1

Exhibit 99.1

Bryn Mawr Bank Corporation

FOR RELEASE: IMMEDIATELY
FOR MORE INFORMATION CONTACT:	Ted Peters, Chairman
	610-581-4800
	J. Duncan Smith, CFO
	610-526-2466

Bryn Mawr Bank Corporation Reports Strong Net Income Growth for

The Fourth Quarter 2009 and the Full Year

BRYN MAWR, Pa. January 28, 2010 - Bryn Mawr Bank Corporation (NASDAQ: BMTC), (the “Corporation”), parent of The Bryn Mawr Trust Company (the “Bank”), today announced that the Corporation earned fourth quarter 2009 diluted earnings per share of $0.30 and net income of $2.64 million, an increase of $0.18 per share or 150.0%, and an increase of $1.63 million or 161.9% over the fourth quarter of 2008 diluted earnings per share of $0.12 and net income of $1.01 million. The Corporation reported twelve month 2009 diluted earnings per share of $1.18 compared to $1.08 for 2008, an increase of 9.3%. Net income for the year ended December 31, 2009 was $10.34 million compared to $9.33 million one year ago, an increase of 10.9%

Ted Peters, Chairman and Chief Executive Officer, stated “Given the difficult economic environment that the Bank and its customers are operating in, we were pleased with the financial results for both the fourth quarter and the full year. In addition, our Wealth assets under management and supervision increased to approximately $2.9 billion from a low of approximately $2.0 billion at the end of the first quarter. Our two new initiatives – Bryn Mawr Trust Company of Delaware and BMT Asset Management – gathered approximately $500 million of new assets between them.”

Peters continued, “We are excited that First Keystone Financial, Inc. and its operating subsidiary, First Keystone Bank has decided to partner with Bryn Mawr Trust. The combination of the two institutions will make us the largest community bank in Delaware County. First Keystone Bank has a rich history of community banking and client service and will be a key element to our future success.”

1

The proposed merger is subject to certain conditions, including, among others, approval by shareholders of First Keystone Financial, Inc., governmental filings and regulatory approvals and expiration of applicable waiting periods, accuracy of specified representations and warranties in the Agreement and Plan of Merger between the Corporation and First Keystone Financial, Inc. (“Merger Agreement”), absence of a material adverse effect pursuant to the Merger Agreement, receipt of material permits and authorizations for the lawful consummation of merger of First Keystone Financial, Inc. into the Corporation, and First Keystone Bank into the Bank (via a two step merger). First Keystone Financial, Inc.’s shareholders are scheduled to vote on the Merger Agreement and the transactions contemplated thereby at a special meeting of shareholders on March 2, 2010. Assuming all of the necessary conditions are met, the Corporation expects to close the transactions contemplated by the Merger Agreement in the third quarter of 2010.

SIGNIFICANT ITEMS FOR THE QUARTER

• Total Wealth Management Assets at December 31, 2009 were approximately $2.9 billion, up $160.3 million or 5.9% from the third quarter of 2009, and up $724.7 million or 33.8% from December 31, 2008 due in part to improvements in the financial markets, new brokerage business, the strong performance of The Bryn Mawr Trust Company of Delaware and new relationships and accounts in the Wealth Management division.

• Revenue from Wealth Management services for the fourth quarter of 2009 was $3.6 million, up 4.0% from third quarter 2009 revenue of $3.5 million and slightly down from fourth quarter 2008 revenue of $3.7 million. For the twelve month period ending December 31, 2009, revenue from Wealth Management services was $14.2 million, up 2.4% from $13.8 million in the same period last year.

• Deposit levels were $937.8 million at December 31, 2009, up $38.4 million or 4.3% from September 30, 2009, and up $68.4 million or 7.9% from December 31, 2008 as branch activity remains strong.

• Total year end portfolio loan and lease balances of $885.7 million were down 1.5% or $13.8 million compared to $899.6 million at December 31, 2008 as construction loans decreased $20.0 million or 34.2%, leases declined $11.6 million or 19.5%, and residential mortgages declined $21.9 million or 16.5%. The decline in the construction loan and lease balances was due to Management’s decision to limit exposure to those sections of the loan and lease portfolio. Partially offsetting these decreases were increases from December 31, 2008 in home equity lines and loans in our local market area of $23.3 million or 15.1% and commercial mortgages of $15.3 million or 6.1%.

2

• The tax equivalent net interest margin was 3.85% for the fourth quarter of 2009, up 13 basis points from the third quarter 2009 and 22 basis points from the fourth quarter of 2008 primarily due to lower deposit rates, reductions in wholesale and time deposit balances, lower variable rates on subordinated debt and interest rate floors and prudent pricing in the loan portfolio.

• Net interest income for the fourth quarter of 2009 was $10.9 million, up $1.4 million or 14.6% from the same period in 2008 due largely to an increase in the margin and higher volume.

• The Corporation’s investment portfolio increased from a fair market value of $108.3 million at December 31, 2008 to $208.2 million at December 31, 2009 due largely to deployment of cash inflows from strong growth in deposits and the reduction in the loan portfolio. There was no other than temporary impairment (“OTTI”) charge recorded in 2009 or 2008.

• Investment securities gains of $603 thousand were recorded during the quarter ended December 31, 2009. These gains primarily resulted from reducing exposure to certain agency securities and reducing individual company exposure in specific corporate bonds. Investment securities gains for 2009 were $1.9 million compared to $230 thousand for 2008.

• Revenue from the sale of residential mortgage loans for the quarter ended December 31, 2009 was $859 thousand, substantially lower than the windfall production in the first and second quarters of 2009, but higher than the fourth quarter of 2008 when revenue was $293 thousand. Revenue on the sale of residential mortgage loans for the twelve month period ended December 31, 2009 was $6.0 million compared to $1.3 million for 2008.

• At December 31, 2009, the allowance for loan and lease losses of $10.4 million was 1.18% of portfolio loans and leases compared with $10.3 million or 1.16% and $10.3 million or 1.15% at September 30, 2009 and December 31, 2008, respectively.

3

• The provision for loan and lease losses for the twelve months ended December 31, 2009 was $6.9 million compared to $5.6 million for 2008.

• Trends within the leasing portfolio have shown improvement as quarterly net charge-offs have continually decreased from $1.6 million in the fourth quarter of 2008 to $763 thousand in the fourth quarter of 2009.

• Non-performing loans and leases are 80 basis points of total portfolio loans and leases at December 31, 2009. The level of non-performing loans and leases has increased from 78 basis points at September 30, 2009 and from 65 basis points at December 31, 2008 primarily due to the economic environment. The majority of these loans are adequately secured by collateral that can substantially liquidate the associated debt.

• Non-interest expense increased in the fourth quarter of 2009 compared to the third quarter of 2009 and fourth quarter of 2008, primarily as a result of due diligence and merger related expenses, professional fees and FDIC insurance.

• Salaries and wages for the twelve months ended December 31, 2009 were $22.3 million which includes residential mortgage incentive pay. The quarterly run rate for salaries and wages in 2010 is expected to be approximately $5.7 million which includes several new BMT Asset Management hires.

• At December 31, 2009, the Corporation had an unused borrowing capacity of $303 million at the Federal Home Loan Bank of Pittsburgh, $55 million at the Federal Reserve and $75 million of Fed Funds lines. Additionally, liquidity remains strong with approximately $38 million at the Federal Reserve and $18 million in money market funds at December 31, 2009.

4

Regulatory Capital Ratios:

	Regulatory Minimum to be Well Capitalized		Actual 12/31/2009		Actual 12/31/2008
Bryn Mawr Trust Company Consolidated
Tier I Capital to Risk Weighted Assets (RWA)	6.00	%	9.06	%	8.49	%
Total (Tier II) Capital to RWA	10.00	%	12.20	%	10.98	%
Tier I Leverage Ratio	5.00	%	8.03	%	7.70	%
Bryn Mawr Bank Corporation
Tier I Capital to Risk Weighted Assets (RWA)	6.00	%	9.41	%	8.81	%
Total (Tier II) Capital to RWA	10.00	%	12.53	%	11.29	%
Tier I Leverage Ratio	5.00	%	8.35	%	8.03	%
Tangible Common Equity Ratio	N/A		7.51	%	7.13	%

Capital ratios at December 31, 2009 are all higher then the year ago period primarily due to retained earnings, a 2009 addition of $7.5 million in subordinated debt and approximately $3.7 million in equity capital, partially offset by an increase in goodwill.

DIVIDEND DECLARED

On January 28, 2010, the Corporation’s Board of Directors declared a quarterly dividend of $0.14 per share, payable March 1, 2010 to shareholders of record as of February 8, 2010.

The Corporation will hold an earnings conference call at 8:30 a.m. EDT on Friday, January 29, 2010. Interested parties may participate by calling 800-860-2442, conference #436746, at 8:30 a.m. EDT. A taped replay of the conference call will be available within two hours of the conclusion of the call and will remain available through February 13, 2010. The number to call for the taped replay is 877-344-7529 and the Replay Passcode is 436746.

The conference call will be simultaneously broadcast live over the Internet through a web cast on the investor relations portion of the Bryn Mawr Bank Corporation’s website. To access the call, please visit the website at http://www.bmtc.com/investor_01.cfm. An online archive of the web cast will be available within two hours of the conclusion of the call. The Corporation has also recently expanded its Investor Relations website to include added resources and information for shareholders and interested investors. Interested parties are encouraged to utilize the expanded resources of the site for more information on Bryn Mawr Bank Corporation.

5

This press release contains statements which, to the extent that they are not recitations of historical fact may constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements may include financial and other projections as well as statements regarding the Corporation’s future plans, objectives, performance, revenues, growth, profits, operating expenses or the Corporation’s underlying assumptions. The words “may”, “would”, “should”, “could”, “will”, “likely”, “expect,” “anticipate,” “intend”, “estimate”, “target”, “potentially”, “probably”, “outlook”, “predict”, “contemplate”, “continue”, “plan”, “forecast”, “project” and “believe” or other similar words and phrases may identify forward-looking statements. Persons reading this press release are cautioned that such statements are only predictions, and that the Corporation’s actual future results or performance may be materially different.

Such forward-looking statements involve known and unknown risks and uncertainties. A number of factors, many of which are beyond the Corporation’s control, could cause our actual results, events or developments, or industry results, to be materially different from any future results, events or developments expressed, implied or anticipated by such forward-looking statements, and so our business and financial condition and results of operations could be materially and adversely affected. Such factors include, among others, our need for capital, our ability to control operating costs and expenses, and to manage loan and lease delinquency rates; the credit risks of lending activities and overall quality of the composition of our loan, lease and securities portfolio; the impact of economic conditions, consumer and business spending habits, and real estate market conditions on our business and in our market area; changes in the levels of general interest rates, deposit interest rates, or net interest margin and funding sources; changes in banking regulations and policies and the possibility that any banking agency approvals we might require for certain activities will not be obtained in a timely manner or at all or will be conditioned in a manner that would impair our ability to implement our business plans; changes in accounting policies and practices; the inability of key third-party providers to perform their obligations to us; our ability to attract and retain key personnel; competition in our marketplace; war or terrorist activities; and other factors as described in our securities filings. All forward-looking statements and information made herein are based on Management’s current beliefs and assumptions as of the date hereof and speak only as of the date they are made. The Corporation does not undertake to update forward-looking statements.

6

For a complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K, as well as any changes in risk factors that we may identify in our quarterly or other reports filed with the SEC.

Where to Find More Information About the First Keystone Financial, Inc. Merger

The Corporation has filed with the Securities and Exchange Commission (“SEC”) a Registration Statement on Form S-4 concerning the proposed merger of First Keystone Financial, Inc. into the Corporation (the “Merger”). The Registration Statement includes a prospectus for the offer and sale of the Corporation’s Common Shares to First Keystone Financial, Inc.’s shareholders as well as a proxy statement for the solicitation of proxies from First Keystone Financial, Inc.’s shareholders for use at the meeting at which the Merger will be voted upon. The combined prospectus and proxy statement and other documents filed by the Corporation with the SEC contain important information about the Corporation, First Keystone Financial, Inc., and the Merger. We urge investors and First Keystone Financial, Inc.’s shareholders to read carefully the combined prospectus and proxy statement and other documents filed with the SEC, including any amendments or supplements also filed with the SEC. First Keystone Financial, Inc.’s shareholders in particular should read the combined prospectus and proxy statement carefully before making a decision concerning the Merger. Investors and shareholders may obtain a free copy of the combined prospectus and proxy statement – along with other filings containing information about the Corporation – at the SEC’s website at http://www.sec.gov. Copies of the combined prospectus and proxy statement, and the filings with the SEC incorporated by reference in the combined prospectus and proxy statement, can also be obtained free of charge by directing a request to Bryn Mawr Bank Corporation, 801 Lancaster Avenue, Bryn Mawr, PA 19010, attention Robert Ricciardi, Secretary, telephone (610) 526-2059.

7

This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation, or sale is unlawful before registration or qualification of the securities under the securities laws of the jurisdiction. No offer of securities shall be made except by means of a prospectus satisfying the requirements of Section 10 of the Securities Act of 1933, as amended.

# # # #

8

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data (GAAP)

(Dollars in thousands, except per share data)

December 31, 2009

(unaudited)

	For The Three Months Ended
	Dec 31, 2009			Sept 30, 2009			June 30, 2009			Mar 31, 2009			Dec 31, 2008
Interest income	$	14,191		$	14,186		$	14,222		$	14,293		$	14,838
Interest expense		2,984			3,557			4,004			4,446			5,050
Subordinated debt		282			299			306			221			257
Net interest income		10,925			10,330			9,912			9,626			9,531
Provision for loan and lease losses		1,302			2,305			1,686			1,591			2,898
Net interest income after provision for loan and lease losses		9,623			8,025			8,226			8,035			6,633
Fees for wealth management services		3,597			3,457			3,620			3,504			3,695
Loan servicing and late fees		386			367			343			291			281
Service charges on deposits		504			493			491			463			455
Net gain on sale of residential mortgage loans		859			760			2,516			1,877			293
Net gain on sale of investments		603			848			—			472			8
Net gain on trading investment		15			161			79			—			—
Other operating income		577			557			752			878			533
Non-interest income		6,541			6,643			7,801			7,485			5,265
Salaries and wages		5,848			5,322			5,626			5,479			4,700
Employee benefits		1,253			1,281			1,462			1,582			912
Occupancy and bank premises		911			893			906			927			922
Furniture fixtures and equipment		575			634			612			586			632
Advertising		310			196			346			232			356
(Recovery) / impairment of mortgage servicing rights		(174	)		(51	)		(115	)		204			638
Amortization of mortgage servicing rights		215			186			256			195			81
Intangible asset amortization		77			77			77			77			77
FDIC insurance		290			265			357			322			138
FDIC insurance special assessment		—			—			540			—			—
Due diligence / merger related expense		531			85			—			—			40
Professional fees		702			419			494			393			441
Other expenses		1,560			1,382			1,726			1,471			1,509
Non-interest expense		12,098			10,689			12,287			11,468			10,446
Income before income taxes		4,066			3,979			3,740			4,052			1,452
Income tax expense		1,429			1,360			1,291			1,420			445
Net income	$	2,637		$	2,619		$	2,449		$	2,632		$	1,007
Per share data:
Weighted average shares outstanding		8,794,602			8,782,632			8,745,708			8,602,406			8,585,914
Dilutive potential common shares		9,112			17,664			21,601			18,498			41,254
Adjusted weighted average dilutive shares		8,803,714			8,800,296			8,767,309			8,620,904			8,627,168
Basic earnings per common share	$	0.30		$	0.30		$	0.28		$	0.31		$	0.12
Diluted earnings per common share	$	0.30		$	0.30		$	0.28		$	0.31		$	0.12
Dividend declared per share	$	0.14		$	0.14		$	0.14		$	0.14		$	0.14
Effective tax rate		35.1	%		34.2	%		34.5	%		35.0	%		30.6	%

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data (GAAP)

(Dollars in thousands, except per share data)

December 31, 2009

(unaudited)

	For The Twelve Months Ended
	Dec 31, 2009			Dec 31, 2008
Interest income	$	56,892		$	57,934
Interest expense		14,991			20,388
Subordinated debt		1,108			408
Net interest income		40,793			37,138
Provision for loan and lease losses		6,884			5,596
Net interest income after provision for loan and lease losses		33,909			31,542
Fees for wealth management services		14,178			13,842
Loan servicing and late fees		1,387			1,194
Service charges on deposits		1,951			1,685
Net gain on sale of residential mortgage loans		6,012			1,275
Net gain on sale of investments		1,923			230
Net gain on trading investment		255			—
BOLI income		—			261
Interest rate floor income		—			268
Other operating income		2,764			2,717
Non-interest income		28,470			21,472
Salaries and wages		22,275			18,989
Employee benefits		5,578			4,172
Occupancy and bank premises		3,637			3,165
Furniture fixtures and equipment		2,407			2,324
Advertising		1,084			1,115
(Recovery) / impairment of mortgage servicing rights		(137	)		668
Amortization of mortgage servicing rights		853			367
Intangible asset amortization		308			141
FDIC insurance		1,234			472
FDIC insurance - special assessment		540			—
Due diligence / merger related expense		616			156
Professional fees		2,008			1,550
Other expenses		6,139			5,557
Non-interest expense		46,542			38,676
Income before income taxes		15,837			14,338
Income tax expense		5,500			5,013
Net income	$	10,337		$	9,325
Per share data:
Weighted average shares outstanding		8,732,004			8,566,938
Dilutive potential common shares		16,719			34,233
Adjusted weighted average shares		8,748,723			8,601,171
Basic earnings per common share	$	1.18		$	1.09
Diluted earnings per common share	$	1.18		$	1.08
Dividend declared per share	$	0.56		$	0.54
Effective tax rate		34.7	%		35.0	%

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data (GAAP)

(Dollars in thousands, except per share data)

December 31, 2009

(unaudited)

For the period end:	2009 4Q			2009 3Q			2009 2Q			2009 1Q			2008 4Q
Asset Quality Data
Nonaccrual loans and leases	$	6,439		$	5,921		$	2,913		$	3,251		$	5,303
90 + days past due loans - still accruing		668			1,013			746			744			504
Nonperforming loans and leases		7,107			6,934			3,659			3,995			5,807
Other non-performing assets		1,025			1,521			1,897			1,311			—
Nonperforming assets	$	8,132		$	8,455		$	5,556		$	5,306		$	5,807
Nonperforming loans and leases / portfolio loans		0.80	%		0.78	%		0.41	%		0.45	%		0.65	%
Nonperforming assets / assets		0.66	%		0.71	%		0.47	%		0.45	%		0.50	%
Net loan and lease charge-offs (annualized)/ average loans		0.53	%		1.08	%		0.64	%		0.80	%		0.71	%
Delinquency rate - including nonperforming		1.10	%		1.23	%		0.81	%		1.01	%		0.97	%
Delinquency rate - excluding nonperforming		0.30	%		0.45	%		0.40	%		0.59	%		0.32	%
Changes in the Allowance for loan and lease losses
Balance, beginning of period	$	10,299		$	10,389		$	10,137		$	10,332		$	9,014
Charge-offs		(1,385	)		(2,581	)		(1,546	)		(1,858	)		(1,611	)
Recoveries		208			186			112			72			31
Net (charge-offs) / recoveries		(1,177	)		(2,395	)		(1,434	)		(1,786	)		(1,580	)
Provision for loan and lease losses		1,302			2,305			1,686			1,591			2,898
Balance, end of period	$	10,424		$	10,299		$	10,389		$	10,137		$	10,332
Allowance for loan and lease losses / loans and lease		1.18	%		1.16	%		1.18	%		1.13	%		1.15	%
Allowance for loan and lease losses / nonperforming loans and leases		146.7	%		148.5	%		283.9	%		253.7	%		177.9	%

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data (GAAP)

(Dollars in thousands, except per share data)

December 31, 2009

(unaudited)

For the period and period end:	2009 4Q			2009 3Q			2009 2Q			2009 1Q			2008 4Q
Selected ratios (annualized):
Return on average assets		0.87	%		0.89	%		0.83	%		0.92	%		0.35	%
Return on average shareholders’ equity		10.22	%		10.39	%		10.11	%		11.54	%		4.23	%
Yield on loans and leases*		5.75	%		5.79	%		5.84	%		5.85	%		6.06	%
Yield on interest earning assets*		4.99	%		5.09	%		5.13	%		5.37	%		5.63	%
Cost of interest bearing funds		1.45	%		1.73	%		1.94	%		2.15	%		2.42	%
Net interest margin*		3.85	%		3.72	%		3.59	%		3.62	%		3.63	%
Book value per share	$	11.72		$	11.62		$	11.33		$	10.99		$	10.76
Tangible book value per share	$	10.40		$	10.44		$	10.15		$	9.78		$	9.55
Period end shares outstanding		8,866,420			8,783,130			8,781,079			8,615,296			8,592,259
Selected data:
Mortgage loans originated	$	34,975		$	35,025		$	125,090		$	96,523		$	25,826
Mortgage loans sold - servicing retained	$	31,503		$	29,577		$	112,608		$	93,071		$	10,653
Mortgage loans sold - servicing released	$	1,335		$	3,474		$	188		$	1,225		$	5,837
Mortgage loans serviced for others	$	514,875		$	499,503		$	490,202		$	411,493		$	350,199
Total Wealth assets under management / administration / supervision / brokerage (1)	$	2,871,143		$	2,710,867		$	2,264,029		$	1,959,131		$	2,146,399

* Yield on loans and leases, interest earning assets and net interest margin are calculated on a tax equivalent basis.

(1) Brokerage Assets represent assets held at a registered broker dealer under a networking agreement.

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data (GAAP)

(Dollars in thousands, except per share data)

December 31, 2009

(unaudited)

	2009 Year-to-date			2008 Year-to-date
Selected ratios (annualized):
Return on average assets		0.88	%		0.89	%
Return on average shareholders’ equity		10.55	%		10.01	%
Yield on loans and leases*		5.81	%		6.27	%
Yield on interest earning assets*		5.14	%		5.98	%
Cost of interest bearing funds		1.81	%		2.63	%
Net interest margin*		3.70	%		3.84	%
Selected data:
Mortgage loans originated	$	291,613		$	109,219
Mortgage loans sold - servicing retained	$	266,759		$	43,575
Mortgage loans sold - servicing released	$	6,222		$	34,259

* Yield on loans and leases, interest earning assets and net interest margin are calculated on a tax equivalent basis.

Investment Portfolio ($’s in thousands)	As of December 31, 2009							As of December 31, 2008
SECURITY DESCRIPTION	Amortized Cost		Fair Value		Unrealized Gain / (Loss)			Amortized Cost		Fair Value		Unrealized Gain / (Loss)
U. S. government agency securities	$	85,462	$	85,061	$	(401	)	$	10,999	$	11,170	$	171
State, county & municipal securities		24,859		25,024		165			7,072		7,096		24
FNMA/FHLMC mortgage backed securities		49,318		50,952		1,634			78,054		79,660		1,606
GNMA mortgage backed securities		8,607		8,718		111			—		—		—
Foreign debt securities		1,500		1,499		(1	)		950		950		—
Bond - mutual funds		36,943		36,970		27			—		—		—
Corporate bonds		—		—		—			10,180		9,453		(727	)
Total Investment Portfolio	$	206,689	$	208,224	$	1,535		$	107,255	$	108,329	$	1,074

Capital Ratios

	Regulatory Minimum To Be Well Capitalized		12/31/2009		9/30/2009		6/30/2009		3/31/2009		12/31/2008
Bryn Mawr Trust Company Consolidated
Tier I Capital to Risk Weighted Assets (RWA)	6.00	%	9.06	%	8.91	%	8.71	%	8.56	%	8.49	%
Total (Tier II) Capital to RWA	10.00	%	12.20	%	12.06	%	11.89	%	11.02	%	10.98	%
Tier I Leverage Ratio	5.00	%	8.03	%	7.98	%	7.72	%	7.68	%	7.70	%
Bryn Mawr Bank Corporation
Tier I Capital to Risk Weighted Assets (RWA)	6.00	%	9.41	%	9.36	%	9.27	%	8.96	%	8.81	%
Total (Tier II) Capital to RWA	10.00	%	12.53	%	12.49	%	12.43	%	11.41	%	11.29	%
Tier I Leverage Ratio	5.00	%	8.35	%	8.39	%	8.22	%	8.05	%	8.03	%
Common Equity Ratio			8.39	%	8.54	%	8.29	%	8.10	%	8.03	%
Tangible Common Equity Ratio			7.51	%	7.74	%	7.43	%	7.20	%	7.13	%

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data (GAAP)

(Dollars in thousands)

December 31, 2009

(unaudited)

Balance Sheet

For the period ended:	Dec 31, 2009			Sept 30, 2009			June 30, 2009			Mar 31, 2009			Dec 31, 2008
Assets
Interest bearing deposits with banks	$	58,472		$	48,351		$	51,455		$	30,283		$	45,100
Fed funds sold		—			—			—			—			—
Money market funds		9,175			18,140			38,252			72,433			5,109
Trading securities		—			5,316			5,105			—			—
Investment securities - AFS		208,224			168,754			153,738			106,191			108,329
Total investment securities		208,224			174,070			158,843			106,191			108,329
Loans held for sale		3,007			4,133			6,837			2,896			3,024
Portfolio loans:
Consumer		12,717			11,412			10,603			8,396			8,518
Commercial & industrial		233,288			237,340			224,355			237,440			236,469
Commercial mortgages		265,023			256,293			257,246			256,631			249,730
Construction		38,444			37,221			40,829			43,746			58,446
Residential mortgages		110,653			118,098			120,475			124,552			132,536
Home equity lines & loans		177,863			174,273			168,592			165,044			154,576
Leases		47,751			51,842			55,538			57,668			59,302
Total portfolio loans and leases		885,739			886,479			877,638			893,477			899,577
Earning assets		1,164,617			1,131,173			1,133,025			1,105,280			1,061,139
Cash and due from banks		11,670			9,381			11,260			9,342			18,776
Allowance for loan and lease losses		(10,424	)		(10,299	)		(10,389	)		(10,137	)		(10,332	)
Bank owned life insurance		—			—			—			—			15,585
Intangible assets		11,722			10,322			10,399			10,476			10,358
FHLB stock		7,916			7,916			7,916			7,916			7,916
Other assets		53,320			47,032			47,330			46,940			47,904
Total assets	$	1,238,821		$	1,195,525		$	1,199,541		$	1,169,817		$	1,151,346
Liabilities and shareholders’ equity
Interest-bearing checking	$	151,432		$	128,551		$	132,531		$	132,354		$	135,513
Money market		229,836			209,574			172,850			171,986			142,707
Savings		101,719			98,189			98,545			83,834			54,333
IND / IDC deposits		52,174			54,104			20,625			29,541			30,185
Wholesale deposits		36,118			64,679			88,119			86,746			120,761
Time deposits		153,705			176,388			200,174			205,164			211,542
Interest-bearing deposits		724,984			731,485			712,844			709,625			695,041
Non-interest bearing deposits		212,903			167,991			181,153			177,153			174,449
Total deposits		937,887			899,476			893,997			886,778			869,490
Subordinated debt		22,500			22,500			22,500			15,000			15,000
Borrowed funds		144,826			147,386			149,925			152,442			154,939
Mortgage payable		2,062			2,076			2,090			—			—
Other liabilities		27,610			22,040			31,539			20,899			19,504
Shareholders’ equity		103,936			102,047			99,490			94,698			92,413
Total liabilities and shareholders’ equity	$	1,238,821		$	1,195,525		$	1,199,541		$	1,169,817		$	1,151,346
Balance Sheet (average)
	2009 4Q			2009 3Q			2009 2Q			2009 1Q			2008 4Q
Assets
Interest bearing deposits with banks	$	52,958		$	33,560		$	23,588		$	29,434		$	45,503
Fed funds sold		—			—			—			2,222			272
Money market funds		14,334			28,877			70,933			40,903			10,713
Trading securities		1,502			5,189			2,436
Investment securities		182,925			160,365			128,528			108,413			105,902
Loans held for sale		4,441			5,307			6,219			6,478			2,814
Portfolio loans and leases		882,956			881,519			886,180			897,215			886,793
Earning assets		1,139,116			1,114,817			1,117,884			1,084,665			1,051,997
Cash and due from banks		11,713			11,191			10,386			11,706			13,882
Allowance for loan and lease losses		(10,557	)		(10,529	)		(10,242	)		(10,353	)		(9,085	)
Bank owned life insurance		—			—			—			6,753			15,585
Intangible assets		10,305			10,367			10,443			10,399			5,824
Other assets		53,825			53,617			53,924			52,022			51,677
Total assets	$	1,204,402		$	1,179,463		$	1,182,395		$	1,155,192		$	1,129,880
Liabilities and shareholders’ equity
Interest-bearing checking	$	139,494		$	132,436		$	138,904		$	133,955		$	133,654
Money market		218,691			189,768			171,378			160,372			139,564
Savings		93,687			94,778			85,035			74,590			61,684
IND / IDC deposits		53,617			27,790			25,057			29,287			29,339
Wholesale deposits		56,447			74,347			99,371			103,562			123,905
Time deposits		162,300			192,275			198,221			207,964			213,004
Interest-bearing deposits		724,236			711,394			717,966			709,730			701,150
Non-interest bearing deposits		185,133			172,257			171,918			160,295			143,897
Total deposits		909,369			883,651			889,884			870,025			845,047
Subordinated debt		22,500			22,500			20,934			15,000			15,000
Borrowed funds		145,994			148,632			151,109			154,114			156,023
Mortgage payable		2,070			2,085			1,614			—			—
Other liabilities		22,150			22,602			21,714			23,559			19,128
Shareholders’ equity		102,319			99,993			97,140			92,494			94,682
Total liabilities and shareholders’ equity	$	1,204,402		$	1,179,463		$	1,182,395		$	1,155,192		$	1,129,880

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data (GAAP)

(Dollars in thousands)

December 31, 2009

(unaudited)

Balance Sheet (average)

	2009 Year-to-date			2008 Year-to-date
Assets
Interest bearing deposits with banks	$	34,946		$	18,678
Fed funds sold		548			5,616
Money market funds		38,662			3,445
Trading securities		2,294			—
Investment securities		145,304			94,478
Loans held for sale		5,611			3,147
Portfolio loans and leases		886,907			848,605
Earning assets		1,114,272			973,969
Cash and due from		11,249			15,780
Allowance for loan and lease losses		(10,421	)		(8,613	)
Intangible assets		10,378			2,711
Bank owned life insurance		1,665			15,579
FHLB stock		7,916			7,916
Other assets		45,436			38,336
Total assets	$	1,180,495		$	1,045,678
Liabilities and shareholders’ equity
Interest-bearing checking	$	136,202		$	137,373
Money market		185,225			130,614
Savings		87,096			47,216
IND / IDC deposits		33,988			10,088
Wholesale deposits		83,277			133,882
Time deposits		190,071			194,739
Interest-bearing deposits		715,859			653,912
Non-interest bearing deposits		172,469			143,924
Total deposits		888,328			797,836
Subordinated debt		20,260			5,934
Borrowed funds		149,936			130,490
Mortgage payable		1,450			—
Other liabilities		22,502			18,243
Shareholders’ equity		98,019			93,175
Total liabilities and shareholders’ equity	$	1,180,495		$	1,045,678

Quarterly Average Balances and Tax Equivalent Income and Expense and Tax Equivalent Yields

	4th Quarter 2009							3rd Quarter 2009							2nd Quarter 2009							1st Quarter 2009							4th Quarter 2008
(dollars in thousands)	Average Balance			Interest Income/ Expense		Average Rates Earned/ Paid		Average Balance			Interest Income/ Expense		Average Rates Earned/ Paid		Average Balance			Interest Income/ Expense		Average Rates Earned/ Paid		Average Balance			Interest Income/ Expense		Average Rates Earned/ Paid		Average Balance			Interest Income/ Expense		Average Rates Earned/ Paid
Assets:
Interest-bearing deposits with other banks	$	52,958		$	30	0.22	%	$	33,560		$	14	0.17	%	$	23,588		$	12	0.20	%	$	29,434		$	17	0.23	%	$	45,503		$	62	0.54	%
Federal funds sold		—			—	—			—			—	—			—			—	—			2,222			1	0.18	%		272			1	1.46	%
Money market funds		14,334			9	0.25	%		28,877			26	0.36	%		70,933			80	0.45	%		40,903			82	0.81	%		10,713			8	0.30
Investment securities available for sale:
Taxable		159,015			1,144	2.85	%		144,073			1,079	2.97	%		116,968			1,058	3.63	%		98,240			1,116	4.61	%		98,966			1,193	4.80	%
Tax-exempt		25,412			278	4.34	%		21,481			236	4.36	%		13,996			155	4.44	%		10,173			107	4.27	%		6,936			85	4.88	%
Investment securities available for sale		184,427			1,422	3.06	%		165,554			1,315	3.15	%		130,964			1,213	3.72	%		108,413			1,223	4.58	%		105,902			1,278	4.80	%
Loans and leases *		887,397			12,860	5.75	%		886,826			12,943	5.79	%		892,399			12,999	5.84	%		903,693			13,035	5.85	%		889,607			13,551	6.06	%
Total interest earning assets		1,139,116			14,321	4.99	%		1,114,817			14,298	5.09	%		1,117,884			14,304	5.13	%		1,084,665			14,358	5.37	%		1,051,997			14,900	5.63	%
Cash and due from banks		11,713							11,191							10,386							11,706							13,882
Less allowance for loan and lease losses		(10,557	)						(10,529	)						(10,242	)						(10,353	)						(9,085	)
Other assets		64,130							63,984							64,367							69,174							73,086
Total assets	$	1,204,402						$	1,179,463						$	1,182,395						$	1,155,192						$	1,129,880
Liabilities:
Savings, NOW and market rate deposits	$	451,873		$	752	0.66	%	$	416,982		$	729	0.69	%	$	395,317		$	798	0.81	%	$	368,917		$	816	0.90	%	$	334,902		$	932	1.11	%
IND / IDC deposits		53,617			60	0.44	%		27,790			37	0.53	%		25,057			24	0.38	%		29,287			28	0.39	%		29,339			53	0.72	%
Wholesale deposits		56,446			278	1.95	%		74,347			428	2.28	%		99,371			592	2.39	%		103,562			785	3.07	%		123,905			1,016	3.26	%
Time deposits		162,300			681	1.66	%		192,275			1,094	2.26	%		198,221			1,316	2.66	%		207,964			1,554	3.03	%		213,004			1,725	3.22	%
Total interest-bearing deposits		724,236			1,771	0.97	%		711,394			2,288	1.28	%		717,966			2,730	1.53	%		709,730			3,183	1.82	%		701,150			3,726	2.11	%
Subordinated debt		22,500			282	4.97	%		22,500			299	5.27	%		20,934			306	5.86	%		15,000			221	5.98	%		15,000			257	6.82	%
Mortgage payable		2,070			29	5.56	%		2,085			30	5.71	%		1,614			23	5.72	%		—			—	—			—			—	—
Borrowed funds		145,995			1,184	3.22	%		148,632			1,239	3.31	%		151,109			1,251	3.32	%		154,114			1,263	3.32	%		156,023			1,324	3.38	%
Total interest-bearing liabilities		894,801			3,266	1.45	%		884,611			3,856	1.73	%		891,623			4,310	1.94	%		878,844			4,667	2.15	%		872,173			5,307	2.42	%
Noninterest-bearing deposits		185,133							172,257							171,918							160,295							143,897
Other liabilities		22,149							22,602							21,714							23,559							19,128
Total noninterest-bearing liabilities		207,282							194,859							193,632							183,854							163,025
Total liabilities		1,102,083							1,079,470							1,085,255							1,062,698							1,035,198
Shareholders’ equity		102,319							99,993							97,140							92,494							94,682
Total liabilities and shareholders’ equity	$	1,204,402						$	1,179,463						$	1,182,395						$	1,155,192						$	1,129,880
Interest income to earning assets						4.99	%						5.09	%						5.13	%						5.37	%						5.63	%
Net interest spread						3.54	%						3.36	%						3.19	%						3.22	%						3.21	%
Effect of noninterest-bearing sources						0.31	%						0.36	%						0.40	%						0.40	%						0.42	%
Net interest income/ margin on earning assets				$	11,055	3.85	%				$	10,442	3.72	%				$	9,994	3.59	%				$	9,691	3.62	%				$	9,593	3.63	%
Tax equivalent adjustment				$	130	0.04	%				$	112	0.02	%				$	82	0.02	%				$	65	0.02	%				$	62	0.03	%

* Average loans and leases include portfolio loans and leases, and loans held for sale. Non-accrual loans are also included in the average loan and leases balances.

Average Balances and Tax Equivalent Income and Expense and Tax Equivalent Yields

For the Twelve months ended December 31,

	2009							2008
(dollars in thousands)	Average Balance			Interest Income/ Expense		Average Rates Earned/ Paid		Average Balance			Interest Income/ Expense		Average Rates Earned/ Paid
Assets:
Interest-bearing deposits with other banks	$	34,946		$	74	0.21	%	$	18,678		$	145	0.78	%
Federal funds sold		548			1	0.18	%		5,616			136	2.42	%
Money market funds		38,662			197	0.51	%		3,445			19	0.55	%
Investment securities available for sale:
Taxable		129,780			4,398	3.39	%		86,940			4,127	4.75	%
Tax-exempt		17,818			776	4.36	%		7,538			364	4.83	%
Investment securities available for sale		147,598			5,174	3.51	%		94,478			4,491	4.75	%
Loans and leases *		892,518			51,835	5.81	%		851,752			53,410	6.27	%
Total interest earning assets		1,114,272			57,281	5.14	%		973,969			58,201	5.98	%
Cash and due from banks		11,249							15,780
Less allowance for loan and lease losses		(10,421	)						(8,613	)
Other assets		65,395							64,542
Total assets	$	1,180,495						$	1,045,678
Liabilities:
Savings, NOW and market rate deposits	$	408,523		$	3,094	0.76	%	$	315,203		$	3,642	1.16	%
IND / IDC deposits		33,988			148	0.44	%		10,088			111	1.10	%
Wholesale deposits		83,277			2,084	2.50	%		133,882			5,498	4.11	%
Time deposits		190,071			4,644	2.44	%		194,739			6,791	3.49	%
Total interest-bearing deposits		715,859			9,970	1.39	%		653,912			16,042	2.45	%
Subordinated debt		20,260			1,108	5.47	%		5,934			408	6.88	%
Mortgage payable		1,450			82	5.66	%		—			—	—
Borrowed funds		149,937			4,939	3.29	%		130,490			4,346	3.33	%
Total interest-bearing liabilities		887,506			16,099	1.81	%		790,336			20,796	2.63	%
Noninterest-bearing deposits		172,468							143,924
Other liabilities		22,502							18,243
Total noninterest-bearing liabilities		194,970							162,167
Total liabilities		1,082,476							952,503
Shareholders’ equity		98,019							93,175
Total liabilities and shareholders’ equity	$	1,180,495						$	1,045,678
Interest income to earning assets						5.14	%						5.98	%
Net interest spread						3.33	%						3.35	%
Effect of noninterest-bearing sources						0.37	%						0.49	%
Net interest income/ margin on earning assets				$	41,182	3.70	%				$	37,405	3.84	%
Tax equivalent adjustment				$	389	0.04	%				$	267	0.03	%

* Average loans and leases include portfolio loans and leases, and loans held for sale. Non-accrual loans are also included in the average loan and leases balances.