National Penn Bancshares, Inc.NASDAQ
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  • Dec. 23, 2015, 6:41 PM
    • The Fed, the FDIC, and "all required state banking regulators" have approved BB&T's (NYSE:BBT) planned $1.8B acquisition of mid-Atlantic bank National Penn Bancshares (NASDAQ:NPBC). The cash/stock deal, first announced in August, is expected to close in the next few months.
    • National Penn has $9.6B in assets, $7B in deposits, and 124 branch offices. BB&T plans to make National Penn CEO Scott Fainor a group executive overseeing "multiple community banking regions in Pennsylvania and contiguous states."
    • Three months ago: BB&T deal pause may not last long
    | Dec. 23, 2015, 6:41 PM | 1 Comment
  • Aug. 18, 2015, 7:49 AM
    • Headquartered in Allentown, PA, National Penn Bancshares (NASDAQ:NPBC), has $9.6B in assets, $6.7B in deposits, and 124 banking offices in PA, NJ, and MD. With the purchase, BB&T (NYSE:BBT) will significantly expand its footprint in the mid-Atlantic and boost its deposit share in PA to #4.
    • Consideration of about $1.8B will be made up of 70% BB&T stock and 30% cash. National Penn owners can choose either 0.3206 share of BB&T stock or $13 in cash per share, subject to proration limiting total cash in the deal to about $550M. NPBC closed last night at $10.92.
    • The deal is expected to be accretive to EPS in year one (excluding one-time acquisition-related charges).
    | Aug. 18, 2015, 7:49 AM | 1 Comment
  • Jun. 4, 2014, 7:13 AM
    • TF Financial (THRD) owners can elect to receive either $42 per share in cash or 4.22 shares of National Penn (NPBC) stock for each share of THRD they own.
    • THRD closed at $31.84 last night, NPBC at $10.44.
    • The total deal value is $138M, and the purchase price amounts to 20x earnings and 1.44x tangible book value.
    | Jun. 4, 2014, 7:13 AM