Bryn Mawr Bank Corporation Receives Regulatory Approval for the Acquisition of Royal Bancshares of Pennsylvania, Inc.
ROYAL BANCSHARES (RBPAA)
US:NASDAQ Investor Relations:
royalbankamerica.com/about-us/investor-relations
Company Research
Source: GlobeNewswire
BRYN MAWR, Pa., Dec. 01, 2017 (GLOBE NEWSWIRE) -- As previously announced, Bryn Mawr Bank Corporation (NASDAQ:BMTC) (“BMBC”), the parent company of The Bryn Mawr Trust Company (“BMT”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) dated January 30, 2017, with Royal Bancshares of Pennsylvania, Inc. (NASDAQ:RBPAA) (“RBPI”), the parent company of Royal Bank America (“RBA”), pursuant to which RBPI will merge with and into BMBC (the “Merger”), and thereafter RBA will be merged with and into BMT. BMBC and RBPI are pleased to announce that on November 30, 2017, the Merger was approved by the Federal Reserve Board, which was the final regulatory approval necessary to complete the Merger. The Federal Reserve approval provides that the transaction may close upon expiration of a standard fifteen-day waiting period. Accordingly, the Merger is expected to close in December 2017, subject to satisfaction of customary closing conditions.
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