Then on January 1, 2015, Leto will succeed Ted Peters as chief executive, following his retirement on December 31, 2014.

Leto currently manages the wealth management division of the bank and serves as general counsel of the corporation and bank. It is unclear who will succeed him in these roles, or indeed if he will retain them.

Meanwhile, the board also announced its decision to establish a non-executive chairman position, effective as of when Peters retires.

Bryn Mawr Bank Corp is the parent firm of The Bryn Mawr Trust Company.