Profit Wire
 

Bryn Mawr Trust Appoints Pedro Nicolas Velecico as CRA Lender for Mortgage Division

Jun 27, 2019

Profit Wire

BRYN MAWR, Pa.-- The Bryn Mawr Trust Company (“BMT”), wholly owned by Bryn Mawr Bank Corporation (NASDAQ: BMTC) (the “Corporation,” “BMT”), announced today that Pedro Nicolas Velecico was appointed CRA Mortgage Lender for their mortgage division and is based in Bryn Mawr, Pa.

“Helping buyers realize their homeownership dreams is an important way we invest in our community,” said Tom Forker, Senior Vice President and Director of Mortgage Lending. “Pedro’s experience and drive to put homeownership within reach for everyone, focusing on low- and moderate-income individuals, has been a trademark of his career.” In February 2019, BMT pledged $25 million toward funding loans for low- and moderate-income households through its Neighborhood Opportunity Program. BMT has, in total, pledged $50 million toward the effort since 2016.

Pedro has 25 years of experience in the mortgage and real estate industries. He holds an Associate’s degree in Spanish from the Community College of Philadelphia and has completed industry-related coursework through Temple University’s Real Estate Institute and the University of Pennsylvania. Pedro is also a certified Spanish translator/interpreter with the state of New Jersey.

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 $4.6 billion in corporate assets and $14.7 billion in wealth assets under management, administration, supervision, and brokerage (as of 3/31/19).  Today, the company operates 43 banking locations, five (5) 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.

FORWARD-LOOKING STATEMENTS AND SAFE HARBOR 
This press release contains statements which, to the extent that they are not recitations of historical fact may constitute forward-looking statements for purposes of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Such forward-looking statements may include financial and other projections as well as statements regarding the Corporation’s future plans, objectives, performance, revenues, growth, profits, operating expenses or the Corporation’s underlying assumptions. The words “may,” “would,” “should,” “could,” “will,” “likely,” “possibly,” “expect,” “anticipate,” “intend,” “estimate,” “target,” “potentially,” “probably,” “outlook,” “predict,” “contemplate,” “continue,” “plan,” “forecast,” “project,” “are optimistic,” “are looking,” “are looking forward” and “believe” or other similar words and phrases may identify forward-looking statements. Persons reading this press release are cautioned that such statements are only predictions, and that the Corporation’s actual future results or performance may be materially different.

Such forward-looking statements involve known and unknown risks and uncertainties. A number of factors, many of which are beyond the Corporation’s control, could cause our actual results, events or developments, or industry results, to be materially different from any future results, events or developments expressed, implied or anticipated by such forward-looking statements, and so our business and financial condition and results of operations could be materially and adversely affected. Such factors include, among others, our need for capital, our ability to control operating costs and expenses, and to manage loan and lease delinquency rates; the credit risks of lending activities and overall quality of the composition of our loan, lease and securities portfolio; the impact of economic conditions, consumer and business spending habits, and real estate market conditions on our business and in our market area; changes in the levels of general interest rates, deposit interest rates, or net interest margin and funding sources; changes in banking regulations and policies and the possibility that any banking agency approvals we might require for certain activities will not be obtained in a timely manner or at all or will be conditioned in a manner that would impair our ability to implement our business plans; changes in accounting policies and practices; litigation; cybersecurity events, the inability of key third-party providers to perform their obligations to us; our ability to attract and retain key personnel; competition in our marketplace; war or terrorist activities; our ability to complete anticipated acquisitions and any material differences in the actual financial results, cost savings and revenue enhancements associated with our acquisitions; and other factors as described in our securities filings. All forward-looking statements and information set forth herein are based on Management’s current beliefs and assumptions as of the date hereof and speak only as of the date they are made. The Corporation does not undertake to update forward-looking statements.

For a complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, as well as any changes in risk factors that we may identify in our quarterly or other reports subsequently filed with the SEC.


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