National Penn Bancshares, Inc. (Nasdaq: NPBC) has been ranked #15 on the annual Forbes 2013 Best Banks in America List for the second consecutive year. The standing ranks National Penn above its regional competitors and among the top banks in the United States.
“We are honored to be recognized, both regionally and nationally, on this prestigious list. National Penn has worked hard to become strong, clean and efficient and is gratified to be recognized for our efforts,” said Scott V. Fainor, president and CEO, National Penn.
National Penn retained the #15 position on the Forbes 2013 list after achieving the #15 ranking on the 2012 Best Banks list and rising from #33 on the 2011 list.
The survey – conducted by Forbes with financial data provided by SNL Financial – gauges the health of the nation’s biggest banks. Figures were based on regulatory filings of public banks and thrifts through the third quarter of 2012. Banks included in the list range in asset size from $4.5 billion to $2.3 trillion in assets.
Forbes based the list on eight metrics of financial health, including: return on average equity; net interest margin; nonperforming loans (NPLs) as a percentage of loans; nonperforming assets as percentage of assets; reserves as a percentage of NPLs; two capital ratios (Tier 1 and risk-based); and leverage ratio.
“Being listed among the best banks in the country is an excellent way to close out the year,” Fainor said. “However, we will continue to work toward our vision to be the most highly regarded financial institution within the markets we serve.”
About National Penn Bancshares, Inc.:
National Penn Bancshares, Inc., with approximately $8.4 billion in assets, is a bank holding company based in Pennsylvania. Headquartered in Boyertown, National Penn operates 120 branch offices comprising 119 branches in Pennsylvania and one branch in Maryland through National Penn Bank and its KNBT and Nittany Bank divisions.
National Penn’s financial services affiliates are National Penn Wealth Management, N.A., including its National Penn Investors Trust Company division; National Penn Capital Advisors, Inc.; Institutional Advisors LLC; and National Penn Insurance Services Group, Inc., including its Higgins Insurance and Caruso Benefits Group divisions.
National Penn Bancshares, Inc. common stock is traded on the Nasdaq Stock Market under the symbol “NPBC”.
From Forbes.com, December 18, 2012 © 2012 Forbes.com. All rights reserved. Used by permission and protected by the Copyright Laws of the United States. The printing, copying, redistribution, or retransmission of this Content without express written permission is prohibited.