Bryn Mawr Bank Corp. has agreed to acquire neighboring Royal Bancshares of Pennsylvania for $127.7 million.
The deal, expected to close in the third quarter, is estimated to add $602 million in loans and $630 million in deposits, strengthen Bryn Mawr’s position as the largest community bank in Philadelphia’s western suburbs and expands the bank’s distribution network into Berks County and New Jersey.
Bryn Mawr Bank CEO Frank Leto said Kevin Tylus, Royal’s president and CEO, will join Bryn Mawr’s senior management team “in order to continue to expand these relationships and to help ensure a smooth integration of the two institutions.”
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