National Penn Bancshares, Inc. and KNBT Bancorp, Inc. Shareholders Approve Merger
18 12월 2007 - 2:44AM
PR Newswire (US)
BOYERTOWN and BETHLEHEM, Pa., Dec. 17 /PRNewswire-FirstCall/ -- At
two separate shareholders' meetings held simultaneously on December
17, 2007, both National Penn Bancshares, Inc. (NASDAQ:NPBC) and
KNBT Bancorp, Inc. (NASDAQ:KNBT) shareholders approved a merger
transaction between the two companies. KNBT Bancorp, Inc. will
merge with and into National Penn Bancshares, Inc., with National
Penn surviving the merger and remaining headquartered in Boyertown,
Pennsylvania. At its meeting at a National Penn facility at 2201
Ridgewood Road in Wyomissing, Pa., National Penn shareholders cast
30,367,681 votes in favor of the merger. This represents 97.7
percent of the total votes cast. At the KNBT shareholder meeting
held at the Best Western Lehigh Valley Hotel & Conference
Center at 300 Gateway Drive in Bethlehem, Pa., KNBT shareholders
cast 17,703,737 votes in favor of the merger, representing 95.2
percent of the total votes cast. Subject to receipt of regulatory
approval and satisfaction of other closing conditions set forth in
the merger agreement, the merger is scheduled to be completed on
February 1, 2008. In the merger, each share of KNBT common stock
will be exchanged for 1.03 shares of National Penn common stock.
Following the merger, current National Penn shareholders are
expected to own approximately 65% and current KNBT shareholders are
expected to own approximately 35% of the combined company. Upon
completion of the merger, the combined company will create the 5th
largest Pennsylvania-based bank holding company based on total
assets. The combined company is expected to maintain a strong
presence in the Lehigh Valley area. Following the merger, KNBT and
its Keystone Nazareth Bank & Trust Company subsidiary will
retain their names in the six Pennsylvania counties where KNBT
currently operates - Lehigh, Northampton, Carbon, Luzerne,
Schuylkill and Monroe counties. National Penn community offices in
Lehigh and Northampton counties will be rebranded under the KNBT
name. About National Penn Bancshares, Inc. National Penn
Bancshares, Inc. is a $5.76 billion asset financial services
company operating 81 community offices in Pennsylvania through
National Penn Bank and its FirstService Bank, HomeTowne Heritage
Bank, Nittany Bank and Peoples Bank of Oxford divisions. The
Peoples Bank of Oxford Division also operates one community office
in Cecil County, Maryland. National Penn's financial services
affiliates consist of National Penn Investors Trust Company;
National Penn Capital Advisors, Inc.; Vantage Investment Advisors,
LLC; National Penn Insurance Agency, Inc.; and National Penn
Leasing Company. 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 the company's Web site at
http://www.nationalpennbancshares.com/. About KNBT Bancorp, Inc.:
KNBT Bancorp, Inc. is a $2.87 billion asset bank holding company
and is the parent bank holding company for Keystone Nazareth Bank
& Trust Company. Keystone Nazareth Bank & Trust Company is
a Pennsylvania-chartered savings bank headquartered in Bethlehem,
Pennsylvania, with 56 community offices in Lehigh, Northampton,
Carbon, Monroe, Luzerne and Schuylkill Counties, Pennsylvania. KNBT
Bancorp, Inc. common stock is traded on the Nasdaq stock market
under the symbol "KNBT." Additional information about KNBT is
available on the company's Web site at http://www.knbt.com/.
Cautionary Statement Regarding Forward-Looking Information: This
release contains forward-looking information about National Penn
Bancshares, Inc., KNBT Bancorp, Inc. and the combined operations of
National Penn Bancshares, Inc. and KNBT Bancorp, Inc. after the
completion of the transactions described in the release that are
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," "plan," "seek," "intend," or
"anticipate"' or the negative thereof or comparable terminology,
and include discussions of strategy, financial projections and
estimates and their underlying assumptions, statements regarding
plans, objectives, expectations or consequences of the
transactions, and statements about the future performance,
operations, products and services of the companies and their
subsidiaries. National Penn Bancshares and KNBT Bancorp caution
readers not to place undue reliance on these statements. National
Penn Bancshares' and KNBT Bancorp's businesses and operations, as
well as their combined business and operations following the
completion of the transactions described in this release, are and
will be subject to a variety of risks, uncertainties and other
factors. Consequently, their 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: ineffectiveness of
their business strategy due to changes in current or future market
conditions; the effects of competition, and of changes in laws and
regulations on competition, including industry consolidation and
development of competing financial products and services; interest
rate movements; inability to achieve merger-related synergies;
difficulties in integrating distinct business operations, including
information technology difficulties; disruption from the
transaction making it more difficult to maintain relationships with
customers and employees, and challenges in establishing and
maintaining operations in new markets; volatilities in the
securities markets; and deteriorating economic conditions. The
foregoing review of important factors should be read in conjunction
with the other cautionary statements that are included in each of
National Penn Bancshares' and KNBT Bancorp's Annual Report on Form
10-K for the fiscal year ended December 31, 2006, and their other
SEC filings filed after such date. See "Additional Information
About This Transaction" below. Neither National Penn Bancshares nor
KNBT Bancorp makes any 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. Additional Information About
This Transaction: National Penn Bancshares has filed a registration
statement on Form S-4 in connection with the transaction, and
National Penn Bancshares and KNBT Bancorp have mailed a joint proxy
statement/prospectus to their respective shareholders in connection
with the transaction. Shareholders and investors are urged to read
the joint proxy statement/prospectus, because it contains important
information about National Penn Bancshares, KNBT Bancorp and the
transaction. You may obtain a free copy of the proxy
statement/prospectus as well as other filings containing
information about National Penn Bancshares at the SEC's Web site at
http://www.sec.gov/. A free copy of the proxy statement/prospectus,
and the filings with the SEC that are incorporated by reference in
the proxy statement/prospectus, may also be obtained from National
Penn Bancshares or KNBT Bancorp, by directing the request to either
of the following persons: Ms. Sandra L. Spayd Mr. Eugene Sobol
Corporate Secretary Senior Executive Vice President and CFO
National Penn Bancshares, Inc. KNBT Bancorp, Inc. Philadelphia and
Reading Avenues 90 Highland Avenue Boyertown, PA 19512 Bethlehem,
PA 18017 (610) 369-6202 (610) 807-5888 DATASOURCE: National Penn
Bancshares, Inc. CONTACT: Media, Catharine Bower, +1-610-369-6618,
, or Investors, Michelle Debkowski, +1-610-369-6461, , both of
National Penn Bancshares, Inc.; or Media, Dennis Ryan,
+1-610-882-5244, , or Investors, Eugene T. Sobol, +1-610-807-5888,
, both of KNBT Bancorp, Inc. Web site:
http://www.nationalpennbancshares.com/ http://www.knbt.com/
Copyright
Knbt Bancorp (NASDAQ:KNBT)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Knbt Bancorp (NASDAQ:KNBT)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024