Bryn Mawr, Pa., April 2, 2018 – Bryn Mawr Trust (“Bryn Mawr Trust”), wholly owned by Bryn Mawr Bank Corporation (NASDAQ: Bryn Mawr TrustC) (the “Corporation”), announced today that their insurance and risk management subsidiary Powers Craft Parker & Beard, Inc. (“Powers Craft”) is now Bryn Mawr Trust Insurance Advisors (“Bryn Mawr TrustIA”). Edward F. Lee, CPCU® will continue as President of Bryn Mawr TrustIA.
“Customers have found tremendous value and comfort in our growing insurance and risk management expertise,” said BMBC President and CEO Frank Leto. “The Bryn Mawr Trust brand is strong – trusted and with top-of-mind awareness. The rebranding to Bryn Mawr Trust Insurance Advisors is a natural progression, capitalizing on one cohesive brand. It is an exciting time for Bryn Mawr Trust.”
Bryn Mawr Trust acquired Powers Craft in October 2014 to bolster their existing insurance subsidiary Insurance, Counsellors of Bryn Mawr, that began operations in 1998. Bryn Mawr Trust has subsequently made two additional acquisitions in the insurance space. The line of business has become an important source of noninterest income for the Corporation.
Bryn Mawr TrustIA is an independent insurance brokerage and risk management consulting firm that builds customized insurance solutions to suit specific customer needs. They are licensed to do business in forty-one states. Bryn Mawr TrustIA partners with all Bryn Mawr Trust divisions – including Wealth Management, Private Banking, Leasing, Consumer Banking, and Commercial Banking – to assist in developing strategies for customers.