Swarthmore Bank Branch to Close

In mid-June, the Bryn Mawr Bank Corporation (Bryn Mawr Trust) and the Wilmington-based WSFS Financial Corporation (WSFS Bank) announced that they plan to merge. The merger has been approved by stockholders and awaits regulatory approval, which is expected in the fourth quarter of this year. As a result of the merger, the Swarthmore branch of Bryn Mawr Trust will close.

Many community members and local businesses have done their banking at this branch of the Bryn Mawr Trust over the years, perhaps in part due to its convenient location at the intersection of Dartmouth and Lafayette avenues, across from Central Park in the Ville.

WSFS Bank’s Eric Springer explained the reason for the closure, and what local Bryn Mawr Trust customers can expect going forward:

When WSFS Bank agreed to combine with Bryn Mawr Trust, we anticipated consolidating approximately 30% of the combined physical banking offices due to geographic overlap and opportunities to optimize within our network. We also focused on accessibility and visibility, the number of households served, and investment in technology to create an optimal experience for all of our customers. While the decision to close the Swarthmore Bryn Mawr Trust branch was a difficult one, our WSFS banking offices in Media and Springfield, both of which are approximately three miles from the Swarthmore branch, are nearby and ready to serve Customers when the combination of our two organizations is complete.

We are pleased that all the full-time employees at the Swarthmore branch were offered a role with WSFS, and we look forward to them joining our banking offices in the area. Our roots are strong in the area, and we’re committed to continuing our support of local businesses and the community through volunteer and other philanthropic opportunities.

We expect to complete the integration of our systems in January 2022. Until that time, Bryn Mawr Trust clients can continue to expect the same level of personal service they have come to expect at the Swarthmore branch, and we look forward to serving them at our Media and Springfield locations beginning in 2022.

Photo courtesy of Bill Thomas

Before the building that houses the Swarthmore branch of Bryn Mawr Trust was built, the location was home to Russell’s full-service gas station, which opened in 1933 (see photo above). Beginning in the 1970s, the building served as a branch location for First Keystone Bank, which merged with Bryn Mawr Trust in 2010.  

No concrete decisions have been made yet as to the future of the branch building, but Mr. Springer noted, “Our goal would be to find a new tenant or owner for the building that adds value to the Swarthmore community.” Stay tuned.