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National Penn Bancshares in Boyertown, Pa., lost more than $17 million in the first quarter after restructuring its debt.
April 19 -
National Penn Bancshares, the $8.4 billion-asset parent company of National Penn Bank, said Tuesday it plans to move its headquarters to Allentown, Pa. from Boyertown, Pa.
October 16 -
National Penn Bancshares in Boyertown, Pa., has completed restructuring $400 million of fixed-rate borrowings with the Federal Home Loan Bank of Pittsburgh to reduce interest expense and expand its net interest margin.
August 14
National Penn Bancshares (NPBC) in Boyertown, Pa., reported a slightly lower quarterly profit as its mortgage fees fell, but it still met Wall Street's earnings forecasts.
The $8.4 billion-asset company said Friday its third-quarter earnings fell 6%, to $24.6 million. Per-share earnings were 17 cents, meeting the expectations of analysts polled by Bloomberg.
National Penn's net interest income slipped by less than 1%, to $63.1 million, while its net interest margin tightened by 1 basis point, to 3.49%. Its provision for loan losses dropped by 38%, to $1.3 million, and net chargeoffs dropped by 2%, to $5 million.
Noninterest income decreased by 7%, to $24.8 million, as mortgage banking fees dropped by 29%, to $1.6 million. Service charges on deposit accounts and insurance fees also fell slightly.
National Penn's overhead costs rose less than 1%, to $53.6 million, as compensation and occupancy costs were slightly higher.
