National Penn Bancshares, Boyertown, Pa., appointed chief executive officer Lawrence T. Jilk Jr. to the newly created post of chairman.
Mr. Jilk, 59, remains CEO of the holding company and chairman of its National Penn Bank. He relinquished his presidency of the company to executive vice president Wayne R. Weidner.
Mr. Jilk joined the bank's predecessor, National Bank of Boyertown, in 1977 as executive vice president. In 1982, when National Penn Bancshares was created, he was named executive vice president of the company and president of National Penn Bank; in 1986 he was appointed CEO of the bank; in 1988 he added the title of bank chairman and was named president of the company. In 1990 he became CEO of National Penn Bancshares.
Mr. Weidner, 55, continues as president and CEO of National Penn Bank. He joined National Bank of Boyertown in 1962 and was named treasurer of National Penn Bancshares in 1983. He was promoted to corporate executive vice president in 1990 and was named the bank's president and CEO in 1991.
National Penn Bancshares has $1.59 billion of assets.