Bryn Mawr Bank in Bryn Mawr, Pa., has bought Robert J. McAllister Agency.
The $2.2 billion-asset company did not disclose the price it paid for the Philadelphia-area insurance and risk management agency. A call to the company was not immediately returned.
"Insurance and risk management services are an important aspect of our strategic plan to broaden the scope of services that we offer to our wealth, business and consumer clients," Frank Leto, Bryn Mawr's president and chief executive, said in a press release Monday. "While organic growth is a primary driver, acquisitions will help us quickly achieve the scale that we need to achieve our growth objectives."
Colin Wilhelm is a reporter for American Banker.
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