The acquisition is expected to increase the assets under management of the bank’s wealth management division by about $1bn.
Davidson Trust will be acquired entirely for cash and will remain in its current location.
The Bryn Mawr Trust Company EVP and head of the wealth management division Francis Leto said that wealth management is a core competency at Bryn Mawr Trust and they remain focused and committed to growing this strategically important business.
"The addition of Davidson Trust Company will bring deeper market penetration in our core market," added Leto.
"With this strategic move, we are expanding our range of services as well as our market area and depth of penetration."
The transaction is expected to close in the second quarter of 2012, subject to certain conditions and regulatory approvals.
Bryn Mawr Bank Corporation and The Bryn Mawr Trust Company together hold $1.77bn in corporate assets and $4.83bn in trust and investment assets under management, administration, supervision, and brokerage.
