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): April 29, 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 April 29, 2010, Bryn Mawr Bank Corporation (the “Corporation”), the parent of The Bryn Mawr Trust Company (the “Bank”) issued a Press Release announcing the results of operations for the quarter ending March 31, 2010. The Press Release, attached as Exhibit 99.1 hereto and incorporated herein by reference, is being furnished to the SEC and shall not be deemed to be “filed” for any purpose.

Item 5.07. Submission of Matters to a Vote of Security Holders.

The Corporation held its Annual Meeting of Shareholders on April 28, 2010 for the purpose of considering and acting upon the following proposals:

1. A proposal to elect two Class IV directors to each serve four year terms expiring in 2014.

The shareholders of the Corporation elected Francis J. Leto and Britton H. Murdoch as Class IV directors to each serve four year terms expiring in 2014 by the following vote:

Director Nominee	Votes For	Votes Against/ Withheld
Francis J. Leto	7,258,047	40,766
Britton H. Murdoch	7,264,414	34,399

The following directors continued in office after the Annual Meeting: Thomas L. Bennett, Scott M. Jenkins, Wendell L. Holland, David E. Lees, B. Loyall Taylor Jr., Frederick C. Peters, II and Andrea F. Gilbert.

2. A proposal to ratify KPMG LLP as the independent registered public accounting firm for the fiscal year ended December 31, 2010.

The shareholders of the Corporation ratified the appointment of KPMG LLP as the independent registered public accounting firm for the fiscal year ended December 31, 2010 by the following vote:

Votes For	Votes Against/ Withheld	Abstained
8,169,357	11,205	12,710

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3. A proposal to approve the adoption of the Bryn Mawr Bank Corporation 2010 Long-Term Incentive Plan (the “Plan”).

The shareholders of the Corporation approved the adoption of the Plan by the following vote:

Votes For	Votes Against/ Withheld	Abstained
5,630,172	1,631,833	36,799

4. A shareholder proposal to eliminate classification of terms of the Board of Directors.

The shareholders of the Corporation did not approve a shareholder proposal to eliminate the elimination of classification of terms of the Board of Directors by the following vote:

Votes For	Votes Against/ Withheld	Abstained
2,941,748	3,984,922	372,140

Item 7.01. Regulation FD Disclosure.

The response to Item 2.02 is incorporated by reference into this Item 7.01.

Item 8.01. Other Events.

The information set forth in Item 7.01 of this Current Report on Form 8-K is incorporated in this Item 8.01 by reference.

Item 9.01. Financial Statements and Exhibits

(d) 99.1 Press Release announcing the results of operations for the quarter ending March 31, 2010.

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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: April 29, 2010

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EXHIBIT INDEX

Exhibit 99.1 Press Release dated April 29, 2010

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EX-99.1

Exhibit 99.1

Bryn Mawr Bank Corporation

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

Bryn Mawr Bank Corporation Reports Strong First Quarter 2010 Results

Dividend of $0.14 per Share Declared

BRYN MAWR, Pa. April 29, 2010 - Bryn Mawr Bank Corporation (NASDAQ: BMTC), (the “Corporation”), parent of The Bryn Mawr Trust Company (the “Bank”), today announced that the Corporation earned first quarter 2010 diluted earnings per share of $0.25 and net income of $2.2 million. Included in the first quarter results are a provision for loan and lease losses of $3.1 million that is largely attributable to one commercial loan relationship, a $1.5 million gain on the sale of investment securities, and merger and due diligence related expenses of approximately $347 thousand associated with the pending merger with First Keystone Financial, Inc.

Ted Peters, Chairman and Chief Executive Officer, stated “Our net income for the first quarter was excellent given that it included securities gains, a much larger than expected provision, and continued merger related costs. Additionally, there have been a number of positive events including a decrease for the second consecutive quarter in non-performing assets which now represents a manageable 0.56% of total assets. In addition our net interest margin rose to 4.06% for the quarter, the third consecutive quarterly increase, and Wealth Management Division assets under management, administration, supervision and brokerage exceeded $3 billion for the first time in the history of the Corporation.”

Mr. Peters continued, “We remain excited about our merger with First Keystone Bank. The merger integration and regulatory approval processes are progressing well and we anticipate closing the transaction in July subject to receipt of all necessary regulatory approvals.”

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SIGNIFICANT ITEMS FOR THE QUARTER

• Total Wealth Management Division assets under management, administration and supervision at March 31, 2010 were approximately $3.1 billion, up $238.4 million or 8.3% from the fourth quarter of 2009, and up $1.2 billion or 58.7% from March 31, 2009 due primarily to the improvements in the financial markets along with the success of BMT Asset Management.

• Revenue from Wealth Management services for the first quarter of 2010 was $3.8 million, up 6.5% from fourth quarter 2009 revenue of $3.6 million and up 9.3% from first quarter 2009 revenue of $3.5 million.

• Deposit levels were $914.4 million at March 31, 2010, a decrease of $23.5 million or 2.5% from December 31, 2009, partially due to a temporary 2009 year-end inflow from one large commercial customer and a decline in time deposits. Deposit levels increased $27.6 million or 3.1% from March 31, 2009 as new core transaction account openings have continued to grow.

• First quarter portfolio loan and lease balances of $893.1 million increased 0.8% or $7.4 million compared to $885.7 million at December 31, 2009, led primarily by a 3.8% or $10.0 million increase in commercial mortgages. Partially offsetting these increases was a decline in home equity lines and loans in our local market area of $2.1 million or 1.2% and a planned decline in the lease portfolio of $3.7 million or 7.8%.

• The tax equivalent net interest margin was 4.06% for the first quarter of 2010, up 21 basis points from the fourth quarter 2009 and 44 basis points from the first quarter of 2009 primarily due to lower deposit rates, reductions in wholesale and time deposit balances, lower variable rates on subordinated debt and prudent pricing strategies in the loan portfolio.

• Tax equivalent net interest income for the first quarter of 2010 was $11.3 million, up $1.6 million or 16.2% from the same period in 2009 due to an increase in the margin and higher volume.

• The Corporation’s investment portfolio had a fair market value of $173.8 million at March 31, 2010 compared to $106.2 million at March 31, 2009 due largely to higher cash balances from the strong growth in deposits. The investment portfolio at March 31, 2010

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is $34.4 million lower than the December 31, 2009 balance of $208.2 million due to the sales of mortgage backed securities. There was no other than temporary impairment (“OTTI”) charge in the first quarter of 2010 or in years 2009 or 2008.

• Investment securities gains of $1.5 million were recorded during the first quarter of 2010. These gains resulted from reducing exposure to mortgage-backed securities by approximately $38 million due to historically tight spreads between mortgage-backed securities and treasuries, the uncertainties surrounding the end of the Federal government’s mortgage buying program and to limit extension risk as the Corporation expects interest rates to rise.

• Revenue from the sale of residential mortgage loans for the quarter ended March 31, 2010 was $525 thousand, lower than the production in the fourth quarter of 2009 and during the quarter ended March 31, 2009. However, first quarter 2010 revenue of $525 thousand exceeds the 2008 quarterly average revenue of approximately $319 thousand.

• At March 31, 2010, the allowance for loan and lease losses of $9.7 million was 1.09% of portfolio loans and leases compared with $10.4 million or 1.18% and $10.1 million or 1.13% at December 31, 2009 and March 31, 2009, respectively. The decrease is mainly attributable to general economic improvements and the overall quality of the loan and lease portfolio. The coverage ratio (allowance for loan and lease loss divided by non-performing loans and leases) at March 31, 2010 was approximately 141% compared to 151% at December 31, 2009 and 254% at March 31, 2009.

• First quarter 2010 charge-offs of $3.95 million included a $3 million charge-off related to one specific commercial loan of which $750 thousand was specifically reserved for at December 31, 2009.

• The loan and lease loss provision for the quarter ended March 31, 2010 was $3.1 million, compared with $1.3 million and $1.6 million at December 31, 2009 and March 31, 2009, respectively.

• Trends within the leasing portfolio have shown improvement as net charge-offs have continually decreased on a quarterly basis from $1.4 million in the first quarter of 2009 to $545 thousand in the first quarter of 2010.

• Non-performing loans and leases are 77 basis points of total portfolio loans and leases at March 31, 2010. The level of non-performing loans and leases decreased from 78 basis points at December 31, 2009, but increased from 45 basis points at March 31, 2009 primarily due to the economic environment. The majority of these loans are adequately secured by collateral that can substantially liquidate the associated debt.

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• In April, the Corporation foreclosed on a $1.5 million non-performing commercial loan. The Corporation expects to fully recover the outstanding loan balance and possibly some of the back interest and costs. Additionally, the Corporation anticipates a second quarter foreclosure on a $595 thousand construction loan which is secured by two newly constructed homes.

• Non-interest expense decreased 1.6% in the first quarter of 2010 compared to the fourth quarter of 2009, but increased 3.8% from the first quarter of 2009, primarily as a result of due diligence and merger related expenses, professional fees, and the loss on the sale of OREO.

• At March 31, 2010, the Corporation had an unused borrowing capacity of $297 million at the Federal Home Loan Bank of Pittsburgh, $60 million at the Federal Reserve, and $75 million of Fed Funds lines. Additionally, liquidity remains strong with approximately $62 million of cash balances at the Federal Reserve and $9 million in other interest bearing accounts at March 31, 2010.

Regulatory Capital Ratios:

	Actual 3/31/2010		Actual 12/31/2009		Actual 3/31/2009
Bryn Mawr Trust Company
Tier I Capital to Risk Weighted Assets (RWA)	9.32	%	9.06	%	8.56	%
Total (Tier II) Capital to RWA	12.41	%	12.20	%	11.02	%
Tier I Leverage Ratio	8.28	%	8.03	%	7.68	%
Bryn Mawr Bank Corporation
Tier I Capital to Risk Weighted Assets (RWA)	9.70	%	9.41	%	8.96	%
Total (Tier II) Capital to RWA	12.78	%	12.53	%	11.41	%
Tier I Leverage Ratio	8.63	%	8.35	%	8.05	%
Tangible Common Equity Ratio	7.82	%	7.51	%	7.20	%

DIVIDEND DECLARED

On April 28, 2010, the Corporation’s Board of Directors declared a quarterly dividend of $0.14 per share, payable June 1, 2010 to shareholders of record as of May 10, 2010.

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The Corporation will hold an earnings conference call at 8:15 a.m. EDT on Friday, April 30, 2010. Interested parties may participate by calling 800-860-2442, conference #439652, at 8:15 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 April 30, 2011. The number to call for the taped replay is 877-344-7529 and the Replay Passcode is 439652.

The conference call will be simultaneously broadcast live over the Internet through a webcast 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 webcast 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.

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”, “possibly”, “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

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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.

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

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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 Geoffrey Halberstadt, Secretary, telephone (610) 581-4873.

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.

# # # #

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Bryn Mawr Bank Corporation

Consolidated Selected Financial Data (GAAP)

(Dollars in thousands, except per share data)

March 31, 2010

(unaudited)

	For The Three Months Ended
	Mar 31, 2010			Dec 31, 2009			Sept 30, 2009			June 30, 2009			Mar 31, 2009
Interest income	$	13,894		$	14,191		$	14,186		$	14,222		$	14,293
Interest expense		2,777			3,266			3,856			4,310			4,667
Net interest income		11,117			10,925			10,330			9,912			9,626
Provision for loan and lease losses		3,113			1,302			2,305			1,686			1,591
Net interest income after provision for loan and lease losses		8,004			9,623			8,025			8,226			8,035
Fees for wealth management services		3,831			3,597			3,457			3,620			3,504
Loan servicing and late fees		381			386			367			343			291
Service charges on deposits		501			504			493			491			463
Net gain on sale of residential mortgage loans		525			859			760			2,516			1,877
Net gain on sale of investments		1,544			603			848			—			472
Net gain on trading investment		—			15			161			79			—
Other operating income		529			577			557			752			878
Non-interest income		7,311			6,541			6,643			7,801			7,485
Salaries and wages		5,287			5,848			5,322			5,626			5,479
Employee benefits		1,558			1,253			1,281			1,462			1,582
Occupancy and bank premises		984			911			893			906			927
Furniture fixtures and equipment		595			575			634			612			586
Advertising		262			310			196			346			232
Impairment / (recovery) of mortgage servicing rights		41			(175	)		(51	)		(115	)		204
Amortization of mortgage servicing rights		199			216			186			256			195
Intangible asset amortization		77			77			77			77			77
FDIC insurance		314			290			265			357			322
FDIC insurance special assessment		—			—			—			540			—
Due diligence / merger related expense		347			531			85			—			—
Net loss sale of OREO		152			—			—			—			—
Professional fees		619			702			419			494			393
Other expenses		1,470			1,560			1,382			1,726			1,471
Non-interest expense		11,905			12,098			10,689			12,287			11,468
Income before income taxes		3,410			4,066			3,979			3,740			4,052
Income tax expense		1,187			1,429			1,360			1,291			1,420
Net income	$	2,223		$	2,637		$	2,619		$	2,449		$	2,632
Per share data:
Weighted average shares outstanding		8,893,997			8,794,602			8,782,632			8,745,708			8,602,406
Dilutive potential common shares		11,017			9,112			17,664			21,601			18,498
Adjusted weighted average dilutive shares		8,905,014			8,803,714			8,800,296			8,767,309			8,620,904
Basic earnings per common share	$	0.25		$	0.30		$	0.30		$	0.28		$	0.31
Diluted earnings per common share	$	0.25		$	0.30		$	0.30		$	0.28		$	0.31
Dividend declared per share	$	0.14		$	0.14		$	0.14		$	0.14		$	0.14
Effective tax rate		34.8	%		35.1	%		34.2	%		34.5	%		35.0	%
Net interest margin (tax equivalent)		4.06	%		3.85	%		3.72	%		3.59	%		3.62	%

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data (GAAP)

(Dollars in thousands, except per share data)

March 31, 2009

(unaudited)

For the period end:	2010 1Q			2009 4Q			2009 3Q			2009 2Q			2009 1Q
Asset Quality Data
Nonaccrual loans and leases	$	5,880		$	6,246		$	5,921		$	2,913		$	3,251
90 + days past due loans - still accruing		1,015			668			1,013			746			744
Nonperforming loans and leases		6,895			6,914			6,934			3,659			3,995
Other non-performing assets		—			1,025			1,521			1,897			1,311
Nonperforming assets	$	6,895		$	7,939		$	8,455		$	5,556		$	5,306
Nonperforming loans and leases / portfolio loans		0.77	%		0.78	%		0.78	%		0.41	%		0.45	%
Nonperforming assets / assets		0.56	%		0.64	%		0.71	%		0.47	%		0.45	%
Net loan and lease charge-offs (annualized) / average loans		1.70	%		0.53	%		1.08	%		0.64	%		0.80	%
Delinquency rate - loans and leases >30 day		1.10	%		1.10	%		1.23	%		0.81	%		1.01	%
Delinquent loans and leases - 30-89 days	$	2,917		$	2,678		$	3,977		$	3,360		$	5,077
Delinquency rate - loans and leases 30-89 days		0.33	%		0.30	%		0.45	%		0.38	%		0.57	%
TDR’s excluded from non-performing loans and leases	$	3,894		$	1,622		$	1,462		$	1,562		$	—
Changes in the Allowance for loan and lease losses:
Balance, beginning of period	$	10,424		$	10,299		$	10,389		$	10,137		$	10,332
Charge-offs		(3,946	)		(1,385	)		(2,581	)		(1,546	)		(1,858	)
Recoveries		149			208			186			112			72
Net (charge-offs) / recoveries		(3,797	)		(1,177	)		(2,395	)		(1,434	)		(1,786	)
Provision for loan and lease losses		3,113			1,302			2,305			1,686			1,591
Balance, end of period	$	9,740		$	10,424		$	10,299		$	10,389		$	10,137
Allowance for loan and lease losses / loans and leases		1.09	%		1.18	%		1.16	%		1.18	%		1.13	%
Allowance for loan and lease losses / nonperforming loans and leases		141.3	%		150.8	%		148.5	%		283.9	%		253.7	%

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data (GAAP)

(Dollars in thousands, except per share data)

March 31, 2009

(unaudited)

For the period and period end:	2010 1Q			2009 4Q			2009 3Q			2009 2Q			2009 1Q
Selected ratios (annualized):
Return on average assets		0.76	%		0.87	%		0.89	%		0.83	%		0.92	%
Return on average shareholders’ equity		8.59	%		10.22	%		10.39	%		10.11	%		11.54	%
Yield on loans and leases*		5.76	%		5.75	%		5.79	%		5.84	%		5.85	%
Yield on interest earning assets*		5.06	%		4.99	%		5.09	%		5.13	%		5.37	%
Cost of interest bearing funds		1.28	%		1.45	%		1.73	%		1.94	%		2.15	%
Net interest margin*		4.06	%		3.85	%		3.72	%		3.59	%		3.62	%
Book value per share	$	11.86		$	11.72		$	11.62		$	11.33		$	10.99
Tangible book value per share	$	10.56		$	10.40		$	10.44		$	10.15		$	9.78
Period end shares outstanding		8,958,970			8,866,420			8,783,130			8,781,079			8,615,296
Selected data:
Mortgage loans originated	$	24,346		$	34,975		$	35,025		$	125,090		$	96,523
Mortgage loans sold - servicing retained	$	18,737		$	31,503		$	29,577		$	112,608		$	93,071
Mortgage loans sold - servicing released	$	1,747		$	1,335		$	3,474		$	188		$	1,225
Mortgage loans serviced for others	$	520,023		$	514,875		$	499,503		$	490,202		$	411,493
Total Wealth Management Division assets under management / administration / supervision / brokerage (1)	$	3,109,574		$	2,871,143		$	2,710,867		$	2,264,029		$	1,959,131

* 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)

March 31, 2009

(unaudited)

	2010 Year-to-date			2009 Year-to-date
Selected ratios (annualized):
Return on average assets		0.76	%		0.92	%
Return on average shareholders’ equity		8.59	%		11.54	%
Yield on loans and leases*		5.76	%		5.85	%
Yield on interest earning assets*		5.06	%		5.37	%
Cost of interest bearing funds		1.28	%		2.15	%
Net interest margin*		4.06	%		3.62	%
Selected data:
Mortgage loans originated	$	24,346		$	96,523
Mortgage loans sold - servicing retained	$	18,737		$	93,071
Mortgage loans sold - servicing released	$	1,747		$	1,225

* 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 March 31, 2010							As of December 31, 2009							As of March 31, 2009
SECURITY DESCRIPTION	Amortized Cost		Fair Value		Unrealized Gain / (Loss)			Amortized Cost		Fair Value		Unrealized Gain / (Loss)			Amortized Cost		Fair Value		Unrealized Gain / (Loss)
U. S. government agency securities	$	94,774	$	94,808	$	34		$	85,462	$	85,061	$	(401	)	$	7,999	$	8,121	$	122
State, county & municipal securities		24,270		24,431		161			24,859		25,024		165			11,907		11,968		61
FNMA/FHLMC mortgage backed securities		12,979		13,386		407			49,318		50,951		1,633			58,470		60,270		1,800
GNMA mortgage backed securities		2,524		2,518		(6	)		8,607		8,718		111			9,503		9,571		68
Foreign debt securities		1,250		1,250		—			1,500		1,499		(1	)		1,450		1,450		—
Bond - mutual funds		37,115		37,423		308			36,943		36,970		27			—		—		—
Corporate bonds		—		—		—			—		—		—			15,866		14,811		(1,055	)
Total Investment Portfolio	$	172,912	$	173,816	$	904		$	206,689	$	208,223	$	1,534		$	105,195	$	106,191	$	996

Capital Ratios

	Regulatory Minimum To Be Well Capitalized		3/31/2010		12/31/2009		9/30/2009		6/30/2009		3/31/2009
Bryn Mawr Trust Company
Tier I Capital to Risk Weighted Assets (RWA)	6.00	%	9.32	%	9.06	%	8.91	%	8.71	%	8.56	%
Total (Tier II) Capital to RWA	10.00	%	12.41	%	12.20	%	12.06	%	11.89	%	11.02	%
Tier I Leverage Ratio	5.00	%	8.28	%	8.03	%	7.98	%	7.72	%	7.68	%
Bryn Mawr Bank Corporation
Tier I Capital to Risk Weighted Assets (RWA)	6.00	%	9.70	%	9.41	%	9.36	%	9.27	%	8.96	%
Total (Tier II) Capital to RWA	10.00	%	12.78	%	12.53	%	12.49	%	12.43	%	11.41	%
Tier I Leverage Ratio	5.00	%	8.63	%	8.35	%	8.39	%	8.22	%	8.05	%
Tangible Common Equity Ratio			7.82	%	7.51	%	7.74	%	7.43	%	7.20	%

Bryn Mawr Bank Corporation

Consolidated Selected Financial Data (GAAP)

(Dollars in thousands)

March 31, 2010

(unaudited)

Balance Sheet

As Of:

	Mar 31, 2010			Dec 31, 2009			Sept 30, 2009			June 30, 2009			Mar 31, 2009
Assets
Interest bearing deposits with banks	$	71,680		$	58,472		$	48,351		$	51,455		$	30,283
Fed funds sold		—			—			—			—			—
Money market funds		402			9,175			18,140			38,252			72,433
Trading securities		—			—			5,316			5,105			—
Investment securities - AFS		173,816			208,224			168,754			153,738			106,191
Total investment securities		173,816			208,224			174,070			158,843			106,191
Loans held for sale		2,214			3,007			4,133			6,837			2,896
Portfolio loans:
Consumer		12,059			12,717			11,412			10,603			8,396
Commercial & industrial		234,300			233,288			237,340			224,355			237,440
Commercial mortgages		275,068			265,023			256,293			257,246			256,631
Construction		41,506			38,444			37,221			40,829			43,746
Residential mortgages		110,412			110,653			118,098			120,475			124,552
Home equity lines & loans		175,748			177,863			174,273			168,592			165,044
Leases		44,007			47,751			51,842			55,538			57,668
Total portfolio loans and leases		893,100			885,739			886,479			877,638			893,477
Earning assets		1,141,212			1,164,617			1,131,173			1,133,025			1,105,280
Cash and due from banks		17,995			11,670			9,381			11,260			9,342
Allowance for loan and lease losses		(9,740	)		(10,424	)		(10,299	)		(10,389	)		(10,137	)
Bank owned life insurance		—			—			—			—			—
Intangible assets		11,645			11,722			10,322			10,399			10,476
FHLB stock		7,916			7,916			7,916			7,916			7,916
Other assets		52,183			53,320			47,032			47,330			46,940
Total assets	$	1,221,211		$	1,238,821		$	1,195,525		$	1,199,541		$	1,169,817
Liabilities and shareholders’ equity
Interest-bearing checking	$	143,735		$	151,432		$	128,551		$	132,531		$	132,354
Money market		244,747			229,836			209,574			172,850			171,986
Savings		103,233			101,719			98,189			98,545			83,834
IND / IDC deposits		47,687			52,174			54,104			20,625			29,541
Wholesale deposits		43,352			36,118			64,679			88,119			86,746
Time deposits		136,927			153,705			176,388			200,174			205,164
Interest-bearing deposits		719,681			724,984			731,485			712,844			709,625
Non-interest bearing deposits		194,697			212,903			167,991			181,153			177,153
Total deposits		914,378			937,887			899,476			893,997			886,778
Subordinated debt		22,500			22,500			22,500			22,500			15,000
Borrowed funds		142,244			144,826			147,386			149,925			152,442
Mortgage payable		2,046			2,062			2,076			2,090			—
Other liabilities		33,772			27,610			22,040			31,539			20,899
Shareholders’ equity		106,271			103,936			102,047			99,490			94,698
Total liabilities and shareholders’ equity	$	1,221,211		$	1,238,821		$	1,195,525		$	1,199,541		$	1,169,817

Balance Sheet (average)

	2010 1Q			2009 4Q			2009 3Q			2009 2Q			2009 1Q
Assets
Interest bearing deposits with banks	$	27,300		$	52,958		$	33,560		$	23,588		$	29,434
Fed funds sold		—			—			—			—			2,222
Money market funds		1,426			14,334			28,877			70,933			40,903
Trading securities		—			1,502			5,189			2,436
Investment securities		200,482			182,925			160,365			128,528			108,413
Loans held for sale		2,975			4,441			5,307			6,219			6,478
Portfolio loans and leases		892,184			882,956			881,519			886,180			897,215
Earning assets		1,124,367			1,139,116			1,114,817			1,117,884			1,084,665
Cash and due from banks		10,627			11,713			11,191			10,386			11,706
Allowance for loan and lease losses		(10,620	)		(10,557	)		(10,529	)		(10,242	)		(10,353	)
Bank owned life insurance		—			—			—			—			6,753
Intangible assets		11,690			10,305			10,367			10,443			10,399
Other assets		57,495			53,825			53,617			53,924			52,022
Total assets	$	1,193,559		$	1,204,402		$	1,179,463		$	1,182,395		$	1,155,192
Liabilities and shareholders’ equity
Interest-bearing checking	$	143,935		$	139,494		$	132,436		$	138,904		$	133,955
Money market		240,542			218,691			189,768			171,378			160,372
Savings		99,925			93,687			94,778			85,035			74,590
IND / IDC deposits		42,030			53,617			27,790			25,057			29,287
Wholesale deposits		43,026			56,447			74,347			99,371			103,562
Time deposits		139,959			162,300			192,275			198,221			207,964
Interest-bearing deposits		709,417			724,236			711,394			717,966			709,730
Non-interest bearing deposits		189,314			185,133			172,257			171,918			160,295
Total deposits		898,731			909,369			883,651			889,884			870,025
Subordinated debt		22,500			22,500			22,500			20,934			15,000
Borrowed funds		143,939			145,994			148,632			151,109			154,114
Mortgage payable		2,056			2,070			2,085			1,614			—
Other liabilities		21,315			22,150			22,602			21,714			23,559
Shareholders’ equity		105,018			102,319			99,993			97,140			92,494
Total liabilities and shareholders’ equity	$	1,193,559		$	1,204,402		$	1,179,463		$	1,182,395		$	1,155,192

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

	1st Quarter 2010							4th Quarter 2009							3rd Quarter 2009							2nd Quarter 2009							1st Quarter 2009
(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	$	27,300		$	14	0.21	%	$	52,958		$	30	0.22	%	$	33,560		$	14	0.17	%	$	23,588		$	12	0.20	%	$	29,434		$	17	0.23	%
Federal funds sold		—			—	—			—			—	—			—			—	—			—			—	—			2,222			1	0.18	%
Money market funds		1,426			1	0.28	%		14,334			9	0.25	%		28,877			26	0.36	%		70,933			80	0.45	%		40,903			82	0.81	%
Investment securities available for sale:
Taxable		175,632			1,021	2.36	%		159,015			1,144	2.85	%		144,073			1,079	2.97	%		116,968			1,058	3.63	%		98,240			1,116	4.61	%
Tax-exempt		24,850			278	4.54	%		25,412			278	4.34	%		21,481			236	4.36	%		13,996			155	4.44	%		10,173			107	4.27	%
Investment securities available for sale		200,482			1,299	2.63	%		184,427			1,422	3.06	%		165,554			1,315	3.15	%		130,964			1,213	3.72	%		108,413			1,223	4.58	%
Loans and leases *		895,159			12,724	5.76	%		887,397			12,860	5.75	%		886,826			12,943	5.79	%		892,399			12,999	5.84	%		903,693			13,035	5.85	%
Total interest earning assets		1,124,367			14,038	5.06	%		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	%
Cash and due from banks		10,627							11,713							11,191							10,386							11,706
Less allowance for loan and lease losses		(10,620	)						(10,557	)						(10,529	)						(10,242	)						(10,353	)
Other assets		69,185							64,130							63,984							64,367							69,174
Total assets	$	1,193,559						$	1,204,402						$	1,179,463						$	1,182,395						$	1,155,192
Liabilities:
Savings, NOW and market rate deposits	$	484,402		$	656	0.55	%	$	451,873		$	752	0.66	%	$	416,982		$	729	0.69	%	$	395,317		$	798	0.81	%	$	368,917		$	816	0.90	%
IND / IDC deposits		42,030			51	0.49	%		53,617			60	0.44	%		27,790			37	0.53	%		25,057			24	0.38	%		29,287			28	0.39	%
Wholesale deposits		43,026			185	1.74	%		56,446			278	1.95	%		74,347			428	2.28	%		99,371			592	2.39	%		103,562			785	3.07	%
Time deposits		139,959			454	1.32	%		162,300			681	1.66	%		192,275			1,094	2.26	%		198,221			1,316	2.66	%		207,964			1,554	3.03	%
Total interest-bearing deposits		709,417			1,346	0.77	%		724,236			1,771	0.97	%		711,394			2,288	1.28	%		717,966			2,730	1.53	%		709,730			3,183	1.82	%
Subordinated debt		22,500			273	4.92	%		22,500			282	4.97	%		22,500			299	5.27	%		20,934			306	5.86	%		15,000			221	5.98	%
Mortgage payable		2,056			28	5.52	%		2,070			29	5.56	%		2,085			30	5.71	%		1,614			23	5.72	%		—			—	—
Borrowed funds		143,939			1,130	3.18	%		145,995			1,184	3.22	%		148,632			1,239	3.31	%		151,109			1,251	3.32	%		154,114			1,263	3.32	%
Total interest-bearing liabilities		877,912			2,777	1.28	%		894,801			3,266	1.45	%		884,611			3,856	1.73	%		891,623			4,310	1.94	%		878,844			4,667	2.15	%
Noninterest-bearing deposits		189,314							185,133							172,257							171,918							160,295
Other liabilities		21,315							22,149							22,602							21,714							23,559
Total noninterest-bearing liabilities		210,629							207,282							194,859							193,632							183,854
Total liabilities		1,088,541							1,102,083							1,079,470							1,085,255							1,062,698
Shareholders’ equity		105,018							102,319							99,993							97,140							92,494
Total liabilities and shareholders’ equity	$	1,193,559						$	1,204,402						$	1,179,463						$	1,182,395						$	1,155,192
Interest income to earning assets						5.06	%						4.99	%						5.09	%						5.13	%						5.37	%
Net interest spread						3.78	%						3.54	%						3.36	%						3.19	%						3.22	%
Effect of noninterest-bearing sources						0.28	%						0.31	%						0.36	%						0.40	%						0.40	%
Net interest income/ margin on earning assets				$	11,261	4.06	%				$	11,055	3.85	%				$	10,442	3.72	%				$	9,994	3.59	%				$	9,691	3.62	%
Tax equivalent adjustment				$	144	0.05	%				$	130	0.04	%				$	112	0.02	%				$	82	0.02	%				$	65	0.02	%

* 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.