National Penn Announces Quarterly Dividend on Trust Preferred Securities
BOYERTOWN, Pa.--(BUSINESS WIRE)-- National Penn Bancshares, Inc. (NPBC) today announced that a quarterly cash dividend will be paid on the trust preferred securities of NPB Capital Trust II (Nasdaq: NPBCO) for the quarter ended December 31, 2011. NPB Capital Trust II is a Delaware business trust and wholly-owned finance subsidiary of National Penn Bancshares, Inc.
The 7.85% quarterly dividend will be payable on December 30, 2011 to shareholders of record on December 29, 2011.
As described in National Penns registration statement on Form S-3 (File No. 333-97361) and the related prospectus, a 7.85% quarterly dividend will be paid on March 31, June 30, September 30 and December 31 of each year on NPB Capital Trust IIs trust preferred securities. All future announcements relating to the quarterly dividend payments made on NPB Capital Trust IIs trust preferred securities will be posted at least 10 days prior to such dividend payment date on National Penn's website: www.nationalpennbancshares.com.
About National Penn Bancshares, Inc.
National Penn Bancshares, Inc., with approximately $9 billion in assets, is a bank holding company based in Pennsylvania. Headquartered in Boyertown, National Penn operates 122 branch offices comprising 121 branches in Pennsylvania and one branch in Maryland through National Penn Bank and its HomeTowne Heritage Bank, KNBT and Nittany Bank divisions.
National Penns financial services affiliates consist of National Penn Wealth Management, N.A., including its National Penn Investors Trust Company division; National Penn Capital Advisors, Inc.; Institutional Advisors LLC; National Penn Insurance Services Group, Inc., including its Higgins Insurance division; and Caruso Benefits Group, Inc.
National Penn Bancshares, Inc. common stock is traded on the Nasdaq Stock Market under the symbol NPBC. Please visit our Web site at www.nationalpennbancshares.com to see our regularly posted material information.
Cautionary Statement Regarding Forward-Looking Information:
This release contains forward-looking information about National Penn Bancshares, Inc. that is intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as believe, expect, may, will, should, project, could, plan, goal, potential, pro forma, seek, intend, or anticipate or the negative thereof or comparable terminology, and include discussions of strategy, financial projections, guidance and estimates (including their underlying assumptions), statements regarding plans, objectives, expectations or consequences of announced transactions, and statements about the future performance, operations, products and services of National Penn and its subsidiaries. National Penn cautions readers not to place undue reliance on these statements.
National Penns business and operations are subject to a variety of risks, uncertainties and other factors. Consequently, actual results and experience may materially differ from those contained in any forward-looking statements. Such risks, uncertainties and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: increased capital requirements and other requirements or actions mandated by National Penns regulators, National Penns ability to raise capital and maintain capital levels, variations in interest rates, deterioration in the credit quality of loans, the effect of credit risk exposure, declines in the value of National Penns assets and the effect of any resulting impairment charges, recent and ongoing changes to the state and federal regulatory schemes under which National Penn and other financial services companies operate (including the Dodd-Frank Act and regulations adopted or to be adopted to implement that Act), competition from other financial institutions, interruptions or breaches of National Penns security systems, and the development and maintenance of National Penns information technology. These risks and others are described in greater detail in National Penns Annual Report on Form 10-K for the fiscal year ended December 31, 2010, as well as in National Penns Quarterly Reports on Form 10-Q and other documents filed by National Penn with the SEC after the date thereof. National Penn makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances occurring or existing after the date any forward-looking statement is made.
National Penn Bancshares, Inc.
Catharine Bower, 610-369-6618
Teresa Steuer, 610-369-6291
Source: National Penn Bancshares, Inc.Copyright Business Wire 2011