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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) March 3, 1999
Bryn Mawr Bank Corporation
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(Exact Name of Registrant as specified in its charter)
Pennsylvania 0-15261 23-2434506
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
801 Lancaster Avenue, Bryn Mawr, PA 19010
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Registrant's telephone number, including area code: 610-525-2300
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None
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(Former name or former address, if changed since last report)
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Item 5. Other Matters
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On March 3, 1999, the Registrant issued a press release announcing the
initiation of a program to repurchase its common stock. The program provides for
the repurchase of up to Six Million Five Hundred Thousand Dollars ($6,500,000)
in the aggregate of the Registrant's common stock but not more than five percent
(5%) of its outstanding shares as of February 28, 1999.
The foregoing is a summary of the press release which is attached as
Exhibit A to this report and is incorporated herein by reference. The foregoing
description does not purport to be complete and is qualified in its entirety by
reference to Exhibit A.
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/ Robert L. Stevens
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Robert L. Stevens
Chairman and Chief Executive Officer
Date: March 3, 1999
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(EX)A
[LOGO]
Bryn Mawr Bank Corporation
801 Lancaster Avenue
Bryn Mawr, Pennsylvania 19010-3396
(610) 526-2300
FOR RELEASE IMMEDIATELY
FOR MORE INFORMATION CONTACT: Robert L. Stevens, Chairman
610-526-2300 or
610-296-5539 (evening):
Joseph W. Rebi, Treasurer
610-526-2466 or 610-828-7798 (evening)
BRYN MAWR BANK CORPORATION AUTHORIZES CONTINUATION OF STOCK REPURCHASE PROGRAM
BRYN MAWR, PA, March 3, 1999-- The Board of Directors of Bryn Mawr Bank
Corporation (NASDAQ: BMTC) has authorized the continuation of the stock
repurchase program, initiated in March of 1997 and due to expire on March 31,
1999. Under the continued program, the Corporation's management is authorized to
repurchase up to $6,500,000, in aggregate, of the Corporation's common stock,
but not more than 5% of the outstanding common stock as of February 28, 1999.
The stock repurchase program is scheduled to run from March 1, 1999 to March 31,
2000, but can be discontinued at any time.
According to Robert L. Stevens, Corporation chairman, "The Board of Directors
approved the continuation of the stock repurchase program, because it benefits
the Corporation and its shareholders by reducing the dilution caused by the
implementation of the Corporation's stock option plans."
Stevens continued, "The Corporation repurchased a total of 164,800 shares during
the two-year period ending February 28, 1999 at a total cost of $3,829,512.50.
This more than offset the dilutive effect of stock options exercised during this
period. Cash will continue to be used to fund the program."
As of December 31, 1998, the Corporation had assets of $392 million and
4,303,818 shares of common stock outstanding and is headquartered in Bryn Mawr,
PA, along with its principal subsidiary, The Bryn Mawr Trust Company.
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Exhibit A
