Bryn Mawr Bank scoops up Continental Bank

Bryn Mawr Bank (BMTC) will boost its presence in western Philadelphia counties with the purchase of Plymouth Meeting-headquartered Continental Bank, which has 10 branches, $398M in loans, and $469M in deposits.

Continental owners will receive 0.45 shares of Bryn Mawr for each share of Continental they own. They will also get a special dividend of $1.251M or $0.15 per share just prior to closing. The total deal value is about $109M.

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