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Quarterly Message from National Penn

January 22, 2015 

National Penn Announces $125 Million Share Repurchase Plan and Achieves Consistent, High-level Performance in Fourth Quarter of 2014 and Full Year

Dear Valued Customers:

I’m pleased to share that National Penn announced a $125 million share repurchase plan today as well as achieved another year of consistent, high-level performance in 2014. The following are some of our key results:

  • The Board of Directors approved a common share repurchase plan of $125 million.
  • National Penn completed the TF Financial Corporation acquisition and systems conversions.
  • Exclusive of the TF Financial acquisition costs, National Penn reported an adjusted net income for the quarter of $26.5 million, or $0.18 per share.
  • National Penn had organic loan growth at an annualized rate of 6% in the fourth quarter.
  • National Penn’s Board of Directors declared a first quarter 2015 cash dividend of $0.11 per share.

The strength of our balance sheet and our strong earnings allow us to continue to return capital to our shareholders. I am pleased with our strong performance for the year, and I appreciate the contributions of the National Penn team to these great results.

As we move further into 2015, we look forward to building on our relationship with you. We appreciate the opportunity to serve you as we continue to provide high quality products, services and the personal attention necessary to help you achieve your financial goals.

Sincerely,

Scott V. Fainor
President and Chief Executive Officer
National Penn Bancshares, Inc.


*Refer to National Penn’s earnings release for the quarter ended December 31, 2014, which may be found on National Penn’s Investor Relations Web site at www.nationalpennbancshares.com for a reconciliation of these non-GAAP measures.

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