Bryn Mawr Bank buys Delaware bank assets
Bryn Mawr Bank Corp. said it agreed to buy most assets of the First Bank of Delaware, which has two branches and is winding down operations. Bryn Mawr is buying one of those branches and about $100 million in loans and $100 million in deposits, Bryn Mawr said. The price was not disclosed. The First Bank of Delaware was spun off from Philadelphia's Republic First Bancorp Inc. in 2005. Harry D. Madonna, Republic First's chairman and chief executive and executive chairman of First Bank of Delaware said the Delaware bank "will eventually close." The deal is Bryn Mawr's fourth since 2010. — Harold Brubaker
Bryn Mawr Bank Corp. said it agreed to buy most assets of the First Bank of Delaware, which has two branches and is winding down operations. Bryn Mawr is buying one of those branches and about $100 million in loans and $100 million in deposits, Bryn Mawr said. The price was not disclosed. The First Bank of Delaware was spun off from Philadelphia's Republic First Bancorp Inc. in 2005. Harry D. Madonna, Republic First's chairman and chief executive and executive chairman of First Bank of Delaware said the Delaware bank "will eventually close." The deal is Bryn Mawr's fourth since 2010.
— Harold Brubaker