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50 W. Lancaster Ave., Ardmore, PA 19003 610-896-6435

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Bryn Mawr, PA 19010 610-581-4910
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investor relations

Return to Mergers & Acquisitions

Deal Overview

Buyer:
Bryn Mawr Bank Corporation
Actual Acquirer:
Bryn Mawr Bank Corporation
Target:
Royal Bancshares of Pennsylvania, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
1/30/2017
Announcement Date:
1/31/2017
Announced Deal Value ($ M):
125.92
Status:
Completed
Completion Date:
12/15/2017
Announced Deal Value Per Share ($ )
4.18

Consideration Breakout
Common Stock ($M) 136.3
Common Stock Issued 3,101,316

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 241.0 227.7
Price / Tangible Book (%) 241.0 227.7
Price / Earnings (x) 13.5 12.3
Price / Deposits (%) 20.00 22.09
Price / Assets (%) 15.13 17.11
Tangible Book Premium/ Deposits (%) 14.45 16.11
Deal Terms
Description of Consideration

Bryn Mawr Bank Corp. issued 0.1025 shares against each class A outstanding share and 0.1179 shares against each class B outstanding share of Royal Bancshares of Pennsylvania Inc. In addition, Bryn Mawr Bank Corp. also assumed Royal Bancshares of Pennsylvania Inc.’s Subordinated notes.

Accounting Method Acquisition
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Partial Overlap
Goodwill Generated ($ 000) 76,208
Estimated Cost Savings (%) 40.00
Estimated Cost Savings ($ 000) 7,999
Est. Restructuring Charges ($ 000) 19,300
Maximum Termination Fee ($ 000) 5,000
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) NA
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement No
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) 4,670
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Boenning & Scattergood Inc.
Seller Yes Sandler O'Neill & Partners LP
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Reed Smith LLP
Seller Yes Stevens & Lee PC