Bryn Mawr, Pa., December 3, 2020 – The weekly magazine, Newsweek, has announced their America’s Best Banks list for 2021. Bryn Mawr Trust (BMT), wholly owned by Bryn Mawr Bank Corporation (NASDAQ: BMTC), has been named America’s Best Bank in Pennsylvania, for the Small Bank division.
According to the Newsweek website, BMT was selected from an initial group of more than 2,500 FDIC-insured financial institutions, and assessed based on 55 different factors. Among the factors considered were “a wide variety of fees, current and historical interest rates, account terms, consumer service features, mobile app satisfaction, and bank profile,” according to Newsweek’s ranking methodology.
BMT has made significant upgrades to its online banking platforms in the last few years – including regular enhancements of its BMT Mobile Banking applications designed for consumers, small businesses, and commercial banking clients. In 2019/2020, the online account opening experience enhancements included a more intuitive client interface for business and personal deposit and loan products and streamlined back-office processes.
Frank Leto, president and chief executive officer of Bryn Mawr Bank Corporation, referenced the Corporation’s long-term strategic planning and investments in human capital and technology. “The recognition is wonderful and validates our efforts,” said Leto. “We have been relentless in our pursuit of efficiency, self-service technologies that consumers and business demand, and a strong value proposition within our product lines. We are particularly pleased that Newsweek considered the quality of our mobile app. Our customers’ digital experience has been a major focus for us in recent years.”
Kevin Tylus, BMT banking division president, also extolled the quality of the Bank’s employees. “This recognition speaks volumes about the collective effort of everyone who works at BMT,” said Tylus. “We were in a position to win this award because of the employees who design and deliver the quality, competitive solutions that our customers rely on.”
Newsweek offered their ideal profile for a Best Small Bank category winner: “A hometown bank that offers the personalized feel of local branch service, while delivering competitive rates, and mobile banking performance on par with larger national banks which can be a great choice for many customers. Add in low fees and a variety of financial products, including loans, and you have a small-bank winner.”
Bryn Mawr Bank Corporation (NASDAQ: BMTC), including its principal subsidiary, The Bryn Mawr Trust Company (BMT), was founded in 1889, and is headquartered in Bryn Mawr, Pa. BMT is a locally managed, premier financial services company providing retail and commercial banking; trust administration and wealth management; and insurance and risk management solutions. Bryn Mawr Bank Corporation has $5.05 billion in corporate assets and $17.24 billion in wealth assets under management, administration, supervision, and brokerage (as of 9/30/20). Today, the company operates 41 banking locations, seven (7) wealth management offices and two (2) insurance and risk management locations in the following counties: Montgomery, Chester, Delaware, Philadelphia, and Dauphin Counties in Pennsylvania; New Castle County in Delaware; and Mercer and Camden Counties in New Jersey. For more information, visit bmt.com.
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