The newest Central Pennsylvania banking player now has permission to enter the market.
Bryn Mawr Trust Co., which already has expressed its interest in expanding into Central Pennsylvania, now will be allowed to open a branch in Derry Township. The Pennsylvania Department of Banking and Securities approved the branch earlier this month.
The office will be at 1 W. Chocolate Ave., where Delaware County-based Bryn Mawr already operates a wealth management office it opened when it bought the wealth management portion of Hershey Trust Co. in 2011.
Since then, Bryn Mawr hasn’t made a secret of its desire to expand its banking business in the region. Company officials said they tried to look for an acquisition partner in the region, but failed to find one. That left the company to open a banking branch for its wealth management customers at it downtown Hershey location.
Bryn Mawr Bank Corp., the holding company for the bank, trades on the NASDAQ exchange at BMTC and has $2.25 billion in assets.