National Penn Bancshares Inc. (NPBC, Financial) filed Quarterly Report for the period ended 2009-03-31.
NATIONAL PENN BANCSHARES INC is a bank holding company engaged in general banking business. National Penn Bancshares Inc. has a market cap of $675 million; its shares were traded at around $8.22 with a P/E ratio of 32.9 and P/S ratio of 1.4. The dividend yield of National Penn Bancshares Inc. stocks is 2.5%. National Penn Bancshares Inc. had an annual average earning growth of 5.4% over the past 10 years. GuruFocus rated National Penn Bancshares Inc. the business predictability rank of 2.5-star.
The Company s total assets were $9.63 billion at March 31, 2009, an increase of $229.6 million or 2.4% from the $9.40 billion at December 31, 2008. The increase was primarily the result of total cash and cash equivalents increasing $193.2 million or 98.7% to $389.0 million, as compared to $195.8 million total at December 31, 2008. In addition, the Company s gross loans and leases, including loans held for sale increased $49.2 million or 0.8% to $6.36 billion, as compared with $6.32 billion at December 31, 2008.
The primary reason for the increase in total cash and due from banks was a result of significant customer deposit growth as a result of which, the Company achieved higher than expected liquidity. The growth in the Company s loan portfolio was primarily the result of increases in the Company s commercial lending and personal loan portfolios. The growth in the Company s loan portfolio was primarily the result of increases in commercial real estate, home equity and consumer loan portfolios. These categories increased $22.3 million, $8.3 million and $6.8 million, respectively, at March 31, 2009 over December 31, 2008. The growth in 2009 was a result of our continued commitment to funding the credit needs of our community, even as other financial service institutions in our footprint reduced lending.
Investment securities (including both available-for-sale and held-to-maturity) totaled $1.91 billion at March 31, 2009, a slight decrease of $5.8 million or 0.3%. The Company intends to maintain a level of investment securities that is sufficient to maintain its pledging and collateralized borrowing requirements.
Read the The complete Report
NATIONAL PENN BANCSHARES INC is a bank holding company engaged in general banking business. National Penn Bancshares Inc. has a market cap of $675 million; its shares were traded at around $8.22 with a P/E ratio of 32.9 and P/S ratio of 1.4. The dividend yield of National Penn Bancshares Inc. stocks is 2.5%. National Penn Bancshares Inc. had an annual average earning growth of 5.4% over the past 10 years. GuruFocus rated National Penn Bancshares Inc. the business predictability rank of 2.5-star.
Highlight of Business Operations:
For the three months ended March 31, 2009, the Company recorded net income available to common shareholders totaling $1.8 million, ($3.8 million before preferred dividend and accretion of warrants), a $19.8 million or 91.7% decrease as compared with $21.6 million over the same 2008 period. Diluted earnings per share was $0.02 for the three month period ending March 31, 2009, a $0.31 or 93.9% decrease over the same period in 2008. Core diluted earnings per share were $0.10 for the three month period ended March 31, 2009, compared to $0.34 for the same period in 2008, a 29.4% decrease.The Company s total assets were $9.63 billion at March 31, 2009, an increase of $229.6 million or 2.4% from the $9.40 billion at December 31, 2008. The increase was primarily the result of total cash and cash equivalents increasing $193.2 million or 98.7% to $389.0 million, as compared to $195.8 million total at December 31, 2008. In addition, the Company s gross loans and leases, including loans held for sale increased $49.2 million or 0.8% to $6.36 billion, as compared with $6.32 billion at December 31, 2008.
The primary reason for the increase in total cash and due from banks was a result of significant customer deposit growth as a result of which, the Company achieved higher than expected liquidity. The growth in the Company s loan portfolio was primarily the result of increases in the Company s commercial lending and personal loan portfolios. The growth in the Company s loan portfolio was primarily the result of increases in commercial real estate, home equity and consumer loan portfolios. These categories increased $22.3 million, $8.3 million and $6.8 million, respectively, at March 31, 2009 over December 31, 2008. The growth in 2009 was a result of our continued commitment to funding the credit needs of our community, even as other financial service institutions in our footprint reduced lending.
Investment securities (including both available-for-sale and held-to-maturity) totaled $1.91 billion at March 31, 2009, a slight decrease of $5.8 million or 0.3%. The Company intends to maintain a level of investment securities that is sufficient to maintain its pledging and collateralized borrowing requirements.
Read the The complete Report
