National Penn Shareholders Celebrate 23rd Year of Increased Earnings and Dividends

Apr 26, 2001, 01:00 ET from National Penn Bancshares, Inc.

    BOYERTOWN, Pa., April 26 /PRNewswire/ -- With nearly 800 shareholders in
 attendance, National Penn Bancshares, Inc. (Nasdaq:   NPBC) (NPBC) had a lot to
 celebrate at its annual shareholders meeting and dinner on Tuesday, April 24
 at the Sunnybrook Ballroom in Pottstown.  Lawrence T. Jilk, Jr., chairman, and
 Wayne R. Weidner, president and CEO of National Penn Bancshares, Inc.,
 reported yet another year of increased earnings and dividends -- the company's
 23rd in a row -- and an array of initiatives and accomplishments.
     Retiring director Mr. Kenneth Longacre was honored for 10 years of service
 to National Penn as a director.  Mr. John Dau was recognized for the
 completion of his three years of service as an Emeritus Director, which
 followed his twenty-four years of service as a director of National Penn
 Bancshares, Inc., and National Penn Bank.
     Highlights of the year included the announcement of a new chief executive
 officer of National Penn Bancshares, Inc. and a new president and chief
 operating officer of its banking division, National Penn Bank.  Wayne R.
 Weidner, formerly President of National Penn Bank and a 38-year veteran of the
 company, was named Chairman and CEO of the Bank as well as President and Chief
 Executive Officer of the parent company, National Penn Bancshares, Inc.  Glenn
 E. Moyer, who joined National Penn Bank in 1999 as part of the Elverson
 acquisition, was named president and Chief Operating Officer and a director of
 National Penn Bank.  These appointments are to ensure a smooth transition for
 the eventual retirement of Lawrence T. Jilk, Jr., who will remain as Chairman
 of National Penn Bancshares, Inc.
     National Penn also completed the acquisition of Panasia Bank,
 headquartered in Fort Lee, NJ, in July, 2000.  This acquisition allows
 National Penn to continue to expand its service to the Asian-American
 community.  National Penn also announced that it received a separate national
 bank charter for Panasia Bank.  As a result, National Penn Bancshares now
 operates as a two-bank holding company.
     To expand its presence in the Berks County market, National Penn acquired
 Community Independent Bank (CIB), parent company of Bernville Bank, in
 January, 2001.  CIB was a $110 million one bank holding company headquartered
 in Bernville, Pennsylvania, operating four community bank offices in Berks
 County.  CIB was merged into National Penn's Berks County division in March,
 2001.
     National Penn continued to expand its branch network in 2000.  Included in
 that expansion was the addition of new offices in Bergen County, New Jersey as
 a result of the Panasia purchase and in Berks County as a result of the CIB
 purchase.  National Penn's Park Road branch was relocated to a new office
 located on Berkshire Boulevard in Wyomissing, Berks County.  The Douglassville
 branch was renovated to provide better access and increased office space.
 National Penn also opened their first full service branch in downtown
 Philadelphia at One Penn Center, 16th Street and JFK Boulevard.
     In 2001, National Penn plans to relocate their King of Prussia branch to a
 new office on Henderson Road, Montgomery County.  In addition, a new full
 service branch will open at 2943 Linden Street in Bethlehem.
     National Penn continued to respond to the evolution of technology during
 2000 through the launch of two new web-based products.  Empower(R) Web
 Checking is a packaged account that offers interest checking, on-line banking,
 bill payment, ATM surcharge reimbursement and online statements.  Empower Web
 Moneymarket is a high-yield account that provides customers with online
 account access, online statements, and more.
     In June, 2001, National Penn will launch its new international banking
 division under the leadership of Don Heimark, vice president.  This new
 division will enable National Penn to serve this growing need of their
 customers.
     In the future, National Penn will continue to build upon their 2000
 initiatives.  They will leverage their acquisitions of Panasia and CIB.  In
 addition, they will continue to grow their non-bank services, including: asset
 management services, brokerage and investment services and insurance.
     National Penn has grown to become the largest commercial bank
 headquartered in southeastern PA.  Through their strong capital position,
 strong loan loss reserve and strong earnings performance, National Penn will
 continue to grow and expand their market presence during 2001.
     Shareholders elected Frederick H. Gaige, John W. Jacobs, Lawrence T. Jilk,
 Jr., and C. Robert Roth as Class II directors of the Company.  All are
 presently directors of the company.  In addition, shareholders approved an
 amendment of the 1997 Officers' and Key Employees' Stock Compensation Plan.
     National Penn Bancshares, Inc. (NPBC) is a $2.6 billion financial services
 company headquartered in Boyertown PA.  NPBC currently operates 60 banking
 offices in southeastern Pennsylvania through National Penn Bank and its
 divisions, Chestnut Hill National Bank, 1st Main Line Bank, National Asian
 Bank, and Elverson National Bank, and four banking offices in the northern New
 Jersey marketplace through Panasia Bank, N.A.  Trust and investment management
 services are provided through Investors Trust Company; brokerage services are
 provided through Penn Securities, Inc.; insurance services are provided
 through Penn Securities, Inc. and Link Financial Services, Inc.; and mortgage
 banking activities are provided through Penn 1st Financial Services, Inc.
 National Penn Bancshares, Inc. common stock is traded on the Nasdaq Stock
 Market under the symbol "NPBC."  Additional information about the National
 Penn family is available on National Penn's web site at www.natpennbank.com.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X54787373
 
 

SOURCE National Penn Bancshares, Inc.
    BOYERTOWN, Pa., April 26 /PRNewswire/ -- With nearly 800 shareholders in
 attendance, National Penn Bancshares, Inc. (Nasdaq:   NPBC) (NPBC) had a lot to
 celebrate at its annual shareholders meeting and dinner on Tuesday, April 24
 at the Sunnybrook Ballroom in Pottstown.  Lawrence T. Jilk, Jr., chairman, and
 Wayne R. Weidner, president and CEO of National Penn Bancshares, Inc.,
 reported yet another year of increased earnings and dividends -- the company's
 23rd in a row -- and an array of initiatives and accomplishments.
     Retiring director Mr. Kenneth Longacre was honored for 10 years of service
 to National Penn as a director.  Mr. John Dau was recognized for the
 completion of his three years of service as an Emeritus Director, which
 followed his twenty-four years of service as a director of National Penn
 Bancshares, Inc., and National Penn Bank.
     Highlights of the year included the announcement of a new chief executive
 officer of National Penn Bancshares, Inc. and a new president and chief
 operating officer of its banking division, National Penn Bank.  Wayne R.
 Weidner, formerly President of National Penn Bank and a 38-year veteran of the
 company, was named Chairman and CEO of the Bank as well as President and Chief
 Executive Officer of the parent company, National Penn Bancshares, Inc.  Glenn
 E. Moyer, who joined National Penn Bank in 1999 as part of the Elverson
 acquisition, was named president and Chief Operating Officer and a director of
 National Penn Bank.  These appointments are to ensure a smooth transition for
 the eventual retirement of Lawrence T. Jilk, Jr., who will remain as Chairman
 of National Penn Bancshares, Inc.
     National Penn also completed the acquisition of Panasia Bank,
 headquartered in Fort Lee, NJ, in July, 2000.  This acquisition allows
 National Penn to continue to expand its service to the Asian-American
 community.  National Penn also announced that it received a separate national
 bank charter for Panasia Bank.  As a result, National Penn Bancshares now
 operates as a two-bank holding company.
     To expand its presence in the Berks County market, National Penn acquired
 Community Independent Bank (CIB), parent company of Bernville Bank, in
 January, 2001.  CIB was a $110 million one bank holding company headquartered
 in Bernville, Pennsylvania, operating four community bank offices in Berks
 County.  CIB was merged into National Penn's Berks County division in March,
 2001.
     National Penn continued to expand its branch network in 2000.  Included in
 that expansion was the addition of new offices in Bergen County, New Jersey as
 a result of the Panasia purchase and in Berks County as a result of the CIB
 purchase.  National Penn's Park Road branch was relocated to a new office
 located on Berkshire Boulevard in Wyomissing, Berks County.  The Douglassville
 branch was renovated to provide better access and increased office space.
 National Penn also opened their first full service branch in downtown
 Philadelphia at One Penn Center, 16th Street and JFK Boulevard.
     In 2001, National Penn plans to relocate their King of Prussia branch to a
 new office on Henderson Road, Montgomery County.  In addition, a new full
 service branch will open at 2943 Linden Street in Bethlehem.
     National Penn continued to respond to the evolution of technology during
 2000 through the launch of two new web-based products.  Empower(R) Web
 Checking is a packaged account that offers interest checking, on-line banking,
 bill payment, ATM surcharge reimbursement and online statements.  Empower Web
 Moneymarket is a high-yield account that provides customers with online
 account access, online statements, and more.
     In June, 2001, National Penn will launch its new international banking
 division under the leadership of Don Heimark, vice president.  This new
 division will enable National Penn to serve this growing need of their
 customers.
     In the future, National Penn will continue to build upon their 2000
 initiatives.  They will leverage their acquisitions of Panasia and CIB.  In
 addition, they will continue to grow their non-bank services, including: asset
 management services, brokerage and investment services and insurance.
     National Penn has grown to become the largest commercial bank
 headquartered in southeastern PA.  Through their strong capital position,
 strong loan loss reserve and strong earnings performance, National Penn will
 continue to grow and expand their market presence during 2001.
     Shareholders elected Frederick H. Gaige, John W. Jacobs, Lawrence T. Jilk,
 Jr., and C. Robert Roth as Class II directors of the Company.  All are
 presently directors of the company.  In addition, shareholders approved an
 amendment of the 1997 Officers' and Key Employees' Stock Compensation Plan.
     National Penn Bancshares, Inc. (NPBC) is a $2.6 billion financial services
 company headquartered in Boyertown PA.  NPBC currently operates 60 banking
 offices in southeastern Pennsylvania through National Penn Bank and its
 divisions, Chestnut Hill National Bank, 1st Main Line Bank, National Asian
 Bank, and Elverson National Bank, and four banking offices in the northern New
 Jersey marketplace through Panasia Bank, N.A.  Trust and investment management
 services are provided through Investors Trust Company; brokerage services are
 provided through Penn Securities, Inc.; insurance services are provided
 through Penn Securities, Inc. and Link Financial Services, Inc.; and mortgage
 banking activities are provided through Penn 1st Financial Services, Inc.
 National Penn Bancshares, Inc. common stock is traded on the Nasdaq Stock
 Market under the symbol "NPBC."  Additional information about the National
 Penn family is available on National Penn's web site at www.natpennbank.com.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X54787373
 
 SOURCE  National Penn Bancshares, Inc.