Bryn Mawr Bank Closes Acquisition Of Continental Bank Holdings - Quick Facts

(RTTNews) - Bryn Mawr Bank Corp (BMTC), parent of Bryn Mawr Trust Co., said it has completed its previously announced merger with Continental Bank Holdings, Inc., the parent company of Continental Bank.

Continental Bank is a community bank headquartered in Plymouth Meeting, Pennsylvania. The 100 percent stock transaction is valued at about $125 million based on Bryn Mawr Bank's December 31, 2014 closing per share price on the Nasdaq stock market of $31.30.

Under the terms of the merger agreement, each share of CBH common stock has been converted into the right to receive 0.45 shares of the Corporation's common stock.

The transaction is Bryn Mawr Bank's seventh acquisition since 2008 and increases its assets to over $2.8 billion, adding about $433 million in loans and $480 million in deposits.

Bryn Mawr Bank noted that all Continental branches will continue to operate under the Continental Bank name until the completion of the banking system conversion, currently scheduled for September 2015.