National Penn Bancshares on Wednesday authorized an 850,000-share stock repurchase program.

No timetable was set for the repurchases, which would be used for general corporate purposes. On June 30 the company had 16.9 million shares outstanding.

Separately Queens County Bancorp in New York said it had completed the repurchase of 500,000 shares under a buyback authorized Dec. 15.

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