National Penn Bank in Boyertown, Pa., has named Joseph C. Walter Jr., a senior vice president in commercial lending, to also be president of its Bucks County division, a newly created post.

Mr. Walter joined the National Penn Bancshares subsidiary in 1986 as a vice president and loan coordinator. He was promoted in 1989 to head of the commercial loan group and in 1991 to senior vice president.

National Penn Bancshares has $1.7 billion of assets.

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