This excerpt taken from the BMTC 8-K filed Jul 15, 2008.
Item 2.01 Completion of Acquisition or Disposition of Assets.
On July 15, 2008, Bryn Mawr Bank Corporation (BMBC) completed its acquisition of JNJ Holdings, LLC Lau Associates LLC and Lau Professional Services LLC pursuant to that certain Membership Interest Purchase Agreement dated as of June 9, 2008 by and among BMBC, Marigot Daze LLC, JNJ Holdings LLC, Lau Associates LLC and Lau Professional Services LLC (the Purchase Agreement). Pursuant to the Purchase Agreement, BMBC acquired from Marigot Daze all of the issued and outstanding limited liability company membership interests in JNJ Holdings, a holding company that wholly owns Lau Associates, a financial planning and investment advisory firm, and Lau Professional Services, a tax preparation firm.
$3,661,203 of the purchase price was paid at closing on July 15, 2008, and the remaining balance of the purchase price will be payable in annual installments during the period commencing on the closing date and continuing through December 31, 2011, with the amount of such annual installments to be based on the pre-tax income of the acquired businesses during the aforementioned post-closing period. However, the total purchase price payable by BMBC under the Purchase Agreement will be no more than $19 million.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
Date: July 15, 2008