National Penn Bancshares (NPBC) 8-K Reports Record First Quarter Net Income

EXHIBIT 99.1

      �� 

   News Release

      

National Penn Bancshares, Inc.

Reports Record First Quarter Net Income

Media Contact:                                            Catharine S. Bower, Communications Manager

 (610) 369-6618 or csbower@natpennbank.com

Investor Contact:                                            Michelle H. Debkowski, Investor Relations

 (610) 369-6461 or mhdebkowski@natpennbank.com

BOYERTOWN, Pa., April 17, 2008 -- National Penn Bancshares, Inc. (Nasdaq: NPBC) reported record first quarter 2008 net income totaling $21.59 million, or $0.33 per diluted share.  Net income increased approximately 39.5% compared to $15.48 million earned in the first quarter of 2007.  Diluted earnings per share was $0.31 in the first quarter of 2007.1

 For the first three months of 2008, annualized returns on average assets and average shareholders’ equity were 1.10% and 10.54%, respectively.   For the first three months of 2007, the annualized returns on average assets and average shareholders’ equity were 1.15% and 11.61%, respectively.

On January 4 and February 1, 2008, National Penn completed the mergers with Christiana Bank & Trust Company and KNBT Bancorp, Inc., respectively.

As of March 31, 2008, National Penn’s total assets were $9.11 billion and total deposits were $6.10 billion. The allowance for loan and lease losses as of March 31, 2008 was $81.63 million, which represented 1.36% of total loans and leases outstanding of $6.01 billion.

Commenting on first quarter 2008, Glenn E. Moyer, National Penn president and chief executive officer, said, “The first quarter of 2008 was a transformational period for National Penn with the completion of the mergers with Christiana Bank & Trust and KNBT Bancorp.  We’re proceeding expeditiously with the integration of these two companies, and are very pleased with the early results of our combined organization.  The interest rate, economic, and competitive environments continue to challenge earnings performance at financial institutions.  With that said, the National Penn team is working very hard to overcome these headwinds, and we’re pleased that we have been able to report record quarterly net income for the first quarter 2008 .  Our balanced growth strategy continues to focus on both organic and merger growth, and we’re busy on both fronts as we move forward in 2008.”

__________

12007 per share data is adjusted for the 3% stock dividend paid on September 28, 2007.

# # #

About National Penn Bancshares, Inc.:

National Penn Bancshares, Inc., with $9.1 billion in assets, is the fifth largest bank holding company based in Pennsylvania.

Headquartered in Boyertown, National Penn operates more than 130 community banking offices in Pennsylvania and one office in Maryland through National Penn Bank and its FirstService Bank, HomeTowne Heritage Bank, KNBT, and Nittany Bank divisions. National Penn also has two offices in Delaware through its wholly-owned subsidiary, Christiana Bank & Trust Company.

National Penn’s financial services affiliates consist of National Penn Investors Trust Company; National Penn Capital Advisors, Inc.; Vantage Investment Advisors, LLC; National Penn Leasing Company; National Penn Insurance Agency, Inc.; Caruso Benefits Group, Inc.; and Higgins Insurance Associates, Inc.

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 www.nationalpennbancshares.com.

_________

This press release contains supplemental financial information determined by methods other than in accordance with Accounting Principles Generally Accepted in the United States of America (“GAAP”).  National Penn’s management uses this non-GAAP measure in its analysis of the company’s performance.  This measure, annualized return on average tangible equity, excludes the average balance of acquisition-related goodwill and intangibles in determining average tangible shareholders’ equity.  Banking and financial institution regulators also exclude goodwill and intangibles from shareholders' equity when assessing the capital adequacy of a financial institution.  Management believes the presentation of this financial measure excluding the impact of these items provides useful supplemental information that is essential to a proper understanding of the financial results of National Penn, as it provides a method to assess management’s success in utilizing the company’s tangible capital.  This disclosure should not be viewed as a substitute for results determined in accordance with GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies.

_________

National Penn Bancshares, Inc.
Exchange Listing Nasdaq "NPBC"
(Dollars in thousands, except per share data)
Three Months Ended March 31,	2008 (3)			2007 (2) (3)
STATEMENTS OF CONDITION
Total assets	$	9,108,114		$	5,520,052
Total deposits		6,103,567			3,730,682
Total loans and leases		6,012,864			3,676,966
Total shareholders' equity		1,046,037			549,848
Book value per share		13.17			11.10
EARNINGS
Total interest income	$	110,403		$	80,393
Total interest expense		53,989			42,467
Net interest income		56,414			37,926
Provision for loan and lease losses		3,410			1,075
Net interest income after provision
for loan and lease losses		53,004			36,851
Other income		24,211			16,694
Other expenses		48,914			33,766
Income before income taxes		28,301			19,779
Income taxes		6,708			4,296
Net income	$	21,593		$	15,483
Return on average assets		1.10	%		1.15	%
Return on average shareholders' equity		10.54	%		11.61	%
Return on average tangible equity (1)		21.84	%		24.39	%
Average shares - basic		65,190,940			49,488,268
Average shares - diluted		65,899,893			50,235,272
PER SHARE
Basic earnings	$	0.33		$	0.31
Diluted earnings		0.33			0.31
Dividends paid in cash		0.1700			0.1626
(1) Reconciliation Table for Non-GAAP Financial Measure
Return on average shareholders' equity		10.54	%		11.61	%
Effect of goodwill and intangibles		11.30	%		12.78	%
Return on average tangible equity		21.84	%		24.39	%
Average tangible equity excludes acquisition related average goodwill and intangibles:
Average shareholders' equity	$	823,757		$	540,823
Average goodwill and intangibles		(426,039	)		(283,350	)
Average tangible equity	$	397,718		$	257,473
(2) Share and per share information adjusted for a 3% stock dividend paid September 28, 2007.
(3) Unaudited

Financial Update for NATL PENN BCSHS (NPBC) FOR 3/31/08
Date	4/17/2008
	PAGE:  1 OF 5	AS OF			AS OF			AS OF			AS OF			AS OF
BALANCE SHEET - ASSETS ($000s)		3/31/2008			12/31/2007			9/30/2007			6/30/2007			3/31/2007
		(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)
	Cash & Cash Equivalents	$	201,655		$	111,520		$	99,379		$	125,128		$	101,676
	Held to Maturity Securities		271,381			243,595			244,815			245,964			248,543
	Securities Available for Sale		1,669,200			1,137,426			1,175,598			1,063,705			1,049,503
	Total Securities		1,940,581			1,381,021			1,420,413			1,309,669			1,298,046
	Total Cash and Securities		2,142,236			1,492,541			1,519,792			1,434,797			1,399,722
	Loans & Leases Held for Sale		5,711			3,823			2,127			9,305			23,215
	Loans & Leases Held for Investment		6,007,153			3,871,430			3,784,674			3,721,182			3,653,751
	Total Loans and Leases		6,012,864			3,875,253			3,786,801			3,730,487			3,676,966
	Loan Loss Reserve		(81,631	)		(54,897	)		(56,294	)		(57,004	)		(57,771	)
	Premises and Equipment, net		110,438			61,214			61,743			61,230			55,132
	Bank Owned Life Insurance		189,050			102,407			101,318			100,216			99,538
	Goodwill		545,484			261,552			261,161			261,161			263,104
	Other Intangibles		42,139			16,160			16,919			17,677			18,435
	Total Intangible Assets		587,623			277,712			278,080			278,838			281,539
	Unconsolidated Investments Under the Equity Method		12,609			11,490			10,058			10,724			10,509
	Real Estate Owned & Held for Investment		326			-			364			364			140
	Other Assets (2)		134,599			58,701			62,069			61,518			54,277
	Total Assets (2)	$	9,108,114		$	5,824,421		$	5,763,931		$	5,621,170		$	5,520,052
BALANCE SHEET - LIABILITIES ($000s)
	Interest-bearing Deposits	$	5,335,413		$	3,423,447		$	3,439,266		$	3,309,328		$	3,207,733
	Non-interest bearing Deposits	$	768,154		$	522,716		$	488,557		$	516,458		$	522,949
	Borrowings		1,698,974			1,114,206			1,080,221			1,055,527			1,038,232
	Subordinated Debt (Trust Preferred Securities)		141,009			139,997			141,591			142,780			142,654
	Other Liabilities		118,527			60,108			59,974			51,172			58,636
	Total Liabilities	$	8,062,077		$	5,260,474		$	5,209,609		$	5,075,265		$	4,970,204
BALANCE SHEET - EQUITY ($000s)
	Common Stock	$	975,744		$	491,011		$	490,872		$	466,837		$	466,555
	Retained Earnings		95,859			85,242			76,888			91,548			83,368
	Accumulated Other Comprehensive Income	$	(25,485	)	$	(4,281	)	$	(6,458	)	$	(12,193	)		713
	Treasury Stock		(81	)		(8,025	)		(6,980	)		(287	)		(788	)
	Total Shareholders Equity (2)	$	1,046,037		$	563,947		$	554,322		$	545,905		$	549,848
MEMO ITEMS
	Accumulated other comprehensive (loss) income	$	(25,485	)	$	(4,281	)	$	(6,458	)	$	(12,193	)	$	713
	Book Value Per Share (1)(2)	$	13.17		$	11.49		$	11.28		$	11.01		$	11.10
	Tangible Book Value Per Share(1)(2)	$	5.77		$	5.83		$	5.62		$	5.39		$	5.42
	EOP Common Shares Outstanding (excluding Treasury shares)(1)		79,410,734			49,068,819			49,150,514			49,584,957			49,543,066
	Treasury Shares Held By Company (1)		5,064			544,061			477,117			16,470			41,578
	Did you announce a repurchase plan during this period?	NO			NO			NO			NO			NO
	Number of Shares to be Repurchased in Plans (1)		3,779,456			3,779,456			3,779,456			3,779,456			3,779,456
	Number of Shares Repurchased During Period (1)		33,587			326,039			594,566			86,229			31,869
	Average Price of Repurchased Shares (1)	$	16.38		$	14.76		$	14.61		$	17.92		$	18.73
	(1) Adjusted as necessary for a 3% stock dividend paid September 28, 2007.
	(2) Adjusted as necessary for modified retrospective method adoption under FAS123 ( R ).

Financial Update for NATL PENN BCSHS (NPBC) FOR 3/31/08
PAGE:  2 OF 5
	FOR QUARTER			FOR QUARTER			FOR QUARTER			FOR QUARTER			FOR QUARTER
	ENDED			ENDED			ENDED			ENDED			ENDED
INCOME STATEMENT ($000s)	3/31/2008			12/31/2007			9/30/2007			6/30/2007			3/31/2007
	(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)
Interest Income	$	110,403		$	86,502		$	85,727		$	82,851		$	80,393
Interest Expense		53,989			45,991			46,631			44,364			42,467
Net Interest Income		56,414			40,511			39,096			38,487			37,926
Loan and Lease Loss Provision		3,410			3,800			1,420			1,537			1,075
Net Interest Income after Provision for Loan and Lease Losses		53,004			36,711			37,676			36,950			36,851
Wealth Management Income		7,608			4,605			4,359			4,289			4,063
Service Charges on Deposits		5,261			4,499			4,461			4,314			4,098
Cash Management and Electronic Banking Fees		2,928			2,367			2,241			2,112			1,942
Mortgage Banking Income		591			512			468			1,110			876
Insurance Commissions and Fees		3,806			1,383			1,556			1,487			2,200
Bank Owned Life Insurance Income		1,580			1,089			1,102			1,078			1,099
Equity in Unconsolidated Investments		612			2,549			226			216			(589	)
Net Gains (Losses) on Sale of Investment Securities		-			331			600			564			569
Gain on Sale of Building(s)		-			-			279			170			-
BOLI Death Benefit Income		-			-			-			837			374
Other Non-Interest Income		1,825			3,121			2,958			1,621			2,062
Non-Recurring Income		-			-			-			-			-
Total Non-Interest Income		24,211			20,456			18,250			17,798			16,694
Salaries, Wages and Employee Benefits (2)		29,230			22,337			20,982			20,557			20,499
Net Premises and Equipment Expense		8,007			5,016			4,867			4,851			5,068
Amortization of Intangibles		1,582			758			758			759			759
Other Non-Interest Expense		10,095			8,733			7,494			7,895			7,440
Non-Recurring Expense		-			-			-			-			-
Total Non-Interest Expense  (2)		48,914			36,844			34,101			34,062			33,766
Net Income Before Taxes (2)		28,301			20,323			21,825			20,686			19,779
Income Tax Expense (2)		6,708			3,614			5,018			4,452			4,296
Net Income (2)		21,593			16,709			16,807			16,234			15,483
Net Interest Income (FTE)	$	60,999		$	44,883		$	43,260		$	42,278		$	41,563
EARNINGS PER SHARE:
Basic
Net income (1) (2)	$	0.33		$	0.34		$	0.34		$	0.33		$	0.31
Diluted
Net income (1) (2)	$	0.33		$	0.34		$	0.34		$	0.32		$	0.31
Average Shares Basic (1)		65,190,940			49,044,107			49,146,831			49,556,675			49,488,268
Average Shares Diluted (1)		65,899,893			49,496,144			49,641,283			50,181,973			50,235,272
(1) Adjusted as necessary for a 3% stock dividend paid September 28, 2007.
(2) Adjusted as necessary for modified retrospective method adoption under FAS123 ( R ).
SUPPLEMENTAL DATA ($000s) (4)
Return on Avg. Assets (annualized)		1.10	%		1.15	%		1.18	%		1.17	%		1.15	%
Return on Avg. Equity (annualized)		10.54	%		11.96	%		12.30	%		11.91	%		11.61	%
Return on Avg. Tangible Equity (annualized) (3)		21.84	%		23.96	%		25.29	%		24.47	%		24.39	%
Average Tangible Equity to Tangible Assets   (5)		5.31	%		5.04	%		4.90	%		5.06	%		4.98	%
Average Realized Tangible Equity to Average Tangible Assets Ratio (6)		5.38	%		5.14	%		5.10	%		5.10	%		4.98	%
(3) (Net income x (365/92)), divided by (average equity - average goodwill and intangibles)
(5) Average tangible equity, divided by (average assets - average goodwill and intangibles).
(6) (Average tangible equity - average AOCI), divided by average tangible assets.
(3) (4) Reconciliation Table for Non-GAAP Financial Measure
Return on average shareholders' equity		10.54	%		11.96	%		12.30	%		11.91	%		11.61	%
Effect of goodwill and intangibles		11.30	%		12.00	%		12.99	%		12.56	%		12.78	%
Return on average tangible equity		21.84	%		23.96	%		25.29	%		24.47	%		24.39	%
Average tangible equity excludes acquisition related average goodwill and intangibles:
Average shareholders' equity	$	823,757		$	554,334		$	542,052		$	546,765		$	540,823
Average goodwill and intangibles		(426,039	)		(277,691	)		(278,441	)		(280,649	)		(283,350	)
Average tangible equity		397,718			276,643			263,611			266,116			257,473

Financial Update for NATL PENN BCSHS (NPBC) FOR 3/31/08
PAGE:  3 of 5
	FOR QUARTER			FOR QUARTER			FOR QUARTER			FOR QUARTER			FOR QUARTER
	ENDED			ENDED			ENDED			ENDED			ENDED
CHARGEOFFS ($000s)	3/31/2008			12/31/2007			9/30/2007			6/30/2007			3/31/2007
	(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)
Loan Chargeoffs	$	3,001		$	5,624		$	2,482		$	2,859		$	2,086
Recoveries on Loans		(440	)		(428	)		(352	)		(555	)		(475	)
Net Loan Chargeoffs	$	2,561		$	5,196		$	2,130		$	2,304		$	1,611
	AS OF			AS OF			AS OF			AS OF			AS OF
ASSET QUALITY AND OTHER DATA ($000s)	3/31/2008			12/31/2007			9/30/2007			6/30/2007			3/31/2007
	(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)
Nonaccrual Loans	$	22,679		$	15,198		$	8,435		$	12,270		$	12,077
Renegotiated Loans		-			-			-			-			-
Other Real Estate Owned		326			-			364			364			140
Total Non-performing Assets	$	23,005		$	15,198		$	8,799		$	12,634		$	12,217
Loans 90+ Days Past Due & Still Accruing		1,140			87			67			619			243
Non-performing + Loans 90 Days Past Due	$	24,145		$	15,285		$	8,866		$	13,253		$	12,460
Allowance for Loan and Lease Losses	$	81,631		$	54,897		$	56,294		$	57,004		$	57,771
Coverage Ratio		338.1	%		359.2	%		634.9	%		430.1	%		463.7	%
	AS OF			AS OF			AS OF			AS OF			AS OF
REGULATORY CAPITAL DATA ($000s) (1)	3/31/2008			12/31/2007			9/30/2007			6/30/2007			3/31/2007
	(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)
Tier 1 Capital	$	622,391		$	426,236		$	420,014		$	417,762		$	405,972
Tier 1 Ratio (%)		9.11	%		9.54	%		9.64	%		9.93	%		9.92	%
Total Capital (Tier 1 + Tier 2)	$	704,087		$	482,692		$	475,596		$	470,902		$	459,795
Total Capital Ratio (%)		10.31	%		10.81	%		10.91	%		11.20	%		11.23	%
Total Risk-Adjusted Assets	$	6,829,295		$	4,466,824		$	4,358,884		$	4,206,000		$	4,093,619
Tier 1 Leverage Ratio		8.50	%		7.76	%		7.80	%		7.94	%		8.00	%
Tangible Equity to Tangible Assets Ratio		5.38	%		5.16	%		5.04	%		5.00	%		5.12	%
Realized Tangible Equity to Tangible Assets Ratio		5.68	%		5.24	%		5.15	%		5.23	%		5.11	%
	AS OF			AS OF			AS OF			AS OF			AS OF
SUPPLEMENTAL DATA ($000s)	3/31/2008			12/31/2007			9/30/2007			6/30/2007			3/31/2007
	(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)
Held to Maturity Securities (Fair Value)	$	269,382		$	243,218		$	243,593		$	238,741		$	247,444
Common Stock Dividends (total $ in period)	$	8,825		$	8,354		$	8,066		$	8,066		$	8,048
Dividends per Common Share (2)	$	0.1700		$	0.1700		$	0.1626		$	0.1626		$	0.1626
EOP Employees (Full Time Equivalent)		1,906			1,171			1,185			1,227			1,195
(1) Adjusted as necessary for modified retrospective method adoption under FAS123 ( R ).
(2) Adjusted  as necessary for a 3% stock dividend paid September 28, 2007.

Financial Update for NATL PENN BCSHS (NPBC) FOR 3/31/08
PAGE:  4 of 5	AS OF		AS OF		AS OF		AS OF		AS OF
PERIOD END BALANCES:	3/31/2008		12/31/2007		9/30/2007		6/30/2007		3/31/2007
	(unaudited)		(unaudited)		(unaudited)		(unaudited)		(unaudited)
Earning Assets / Liabilities
Loan Breakdown:  (Regulatory)
Commercial/Industrial	$	1,098,437	$	723,144	$	713,887	$	695,396	$	661,504
Commercial Real Estate		1,609,201		1,329,482		1,304,911		1,277,469		1,275,878
Residential Mortgage (including multi-family)		1,594,672		795,151		781,087		798,808		809,097
Real Estate Construction and Land Development		537,310		328,720		310,372		295,618		288,171
Home Equity (revolving and 2nd lien)		762,717		464,673		447,130		441,579		437,467
Consumer (Loans to Individuals)		224,594		73,494		70,817		63,558		61,112
Other Loans		185,933		160,589		158,597		158,059		143,737
Total Loans (net of unearned)		6,012,864		3,875,253		3,786,801		3,730,487		3,676,966
Investment Securities		1,941,582		1,381,021		1,420,413		1,309,669		1,298,046
Other Earning Assets		33,520		7,228		5,616		3,933		2,760
Total Earning Assets (net of loan loss reserve)	$	7,906,335	$	5,208,604	$	5,156,536	$	4,987,085	$	4,920,001
Deposit Breakdown:
Savings	$	377,416	$	193,938	$	193,232	$	208,694	$	220,192
NOW Accounts		932,132		733,242		775,385		722,656		624,276
Money Market Accounts		1,679,063		957,423		951,104		960,302		932,189
CDs $100m or less		1,722,316		992,741		1,008,792		961,964		911,951
CDs greater than $100m		624,488		546,103		510,753		455,712		519,125
Total Int. Bearing Deposits		5,335,415		3,423,447		3,439,266		3,309,328		3,207,733
Short-Term Borrowings		678,581		497,023		452,761		427,792		590,226
Long-Term Debt		1,161,403		757,180		769,051		770,515		590,660
Total Int. Bearing Liabilities	$	7,175,399	$	4,677,650	$	4,661,078	$	4,507,635	$	4,388,619
Loan Breakdown: (Internal)
Business Purpose Loans	$	2,575,761	$	1,621,101	$	1,571,459	$	1,542,646	$	1,521,929
Residential Mortgage		1,069,643		494,413		485,967		515,339		491,366
Commercial Real Estate, Construction and Land Dev		1,389,608		1,296,277		1,265,904		1,215,586		1,202,717
Consumer (loans to Individual)		977,852		463,462		463,471		456,916		460,954
Total Loans (net of unearned)	$	6,012,864	$	3,875,253	$	3,786,801	$	3,730,487	$	3,676,966

Financial Update for NATL PENN BCSHS (NPBC) FOR 3/31/08
		PAGE 5 OF 5
BALANCE AND YIELD/COST ANALYSIS:			AS OF					AS OF					AS OF					AS OF					AS OF
			3/31/2008					12/31/2007					9/30/2007					6/30/2007					3/31/2007
			(unaudited)					(unaudited)					(unaudited)					(unaudited)					(unaudited)
			Qtr Avg Bal		Yield			Qtr Avg Bal		Yield			Qtr Avg Bal		Yield			Qtr Avg Bal		Yield			Qtr Avg Bal		Yield
Total Loans (net of unearned)			$	5,296,371		6.80	%	$	3,825,406		7.24	%	$	3,756,081		7.40	%	$	3,700,384		7.35	%	$	3,639,246		7.36	%
Investment Securities (incl. trading assets)				1,802,951		5.63	%		1,393,393		5.98	%		1,356,853		5.78	%		1,302,524		5.79	%		1,271,449		5.73	%
Other Earning Assets				24,148		2.22	%		10,550		3.35	%		4,656		4.60	%		3,958		6.18	%		12,785		1.65	%
Total Earning Assets				7,123,470		6.49	%		5,229,349		6.89	%		5,117,590		6.97	%		5,006,866		6.94	%		4,923,480		6.92	%
Total Earning Assets (net of loan loss reserve)				7,051,565		6.56	%		5,172,622		6.97	%		5,060,766		7.05	%		4,948,851		7.02	%		4,864,994		7.00	%
Total Assets				7,886,342		5.86	%		5,768,409		6.25	%		5,661,055		6.30	%		5,542,100		6.27	%		5,452,202		6.25	%
Savings				316,680		0.71	%		193,088		1.08	%		200,665		1.11	%		212,624		1.12	%		216,121		1.17	%
NOW Accounts				843,526		1.79	%		766,446		2.65	%		734,140		2.67	%		689,712		2.53	%		625,108		2.30	%
Money Market Accounts				1,416,426		2.78	%		961,975		3.38	%		965,630		3.65	%		944,773		3.68	%		939,598		3.65	%
Certificates				2,097,691		4.32	%		1,512,883		4.70	%		1,457,016		4.76	%		1,437,808		4.74	%		1,476,314		4.69	%
Total Int. Bearing Deposits				4,674,323		3.16	%		3,434,392		3.67	%		3,357,451		3.77	%		3,284,917		3.74	%		3,257,141		3.70	%
Non-Interest Bearing Deposits				649,278					493,152					499,398					500,580					487,661
Total Deposits				5,323,601		2.77	%		3,927,544		3.21	%		3,856,849		3.28	%		3,785,497		3.24	%		3,744,802		3.22	%
Short-Term Borrowings				643,958		3.29	%		463,461		3.82	%		437,019		4.03	%		496,311		4.28	%		503,795		4.14	%
Long-Term Borrowings				1,049,870		4.61	%		758,929		5.10	%		770,371		5.31	%		660,668		5.14	%		598,757		5.17	%
Total Int. Bearing Liabilities (incl. non-int bearing deposits)				7,017,429		3.09	%		5,149,934		3.54	%		5,064,239		3.65	%		4,942,476		3.60	%		4,847,354		3.55	%
Total Int. Bearing Liabilities				6,368,151		3.41	%		4,656,782		3.92	%		4,564,841		4.05	%		4,441,896		4.01	%		4,359,693		3.95	%
Net Yield on Earning Assets (net of loan loss reserve): (Margin)						3.48	%				3.44	%				3.39	%				3.43	%				3.46	%
Net Yield on Earning Assets: (Margin)						3.44	%				3.41	%				3.35	%				3.39	%				3.42	%
STATES OF OPERATION AND BANKING OFFICES BY STATE (LATEST AVAILABLE DATA)
	State	Number of Full Service Banking Offices (Domestic and in the U.S. Territories)
	PA
Total Number of Banking Offices				132					81					81					80					80
Total Number of Insured Subsidiaries (Bank & Thrift Subsidiaries)				1					1					1					1					1
Total Number of ATMs				152					81					83					83					83
	MD
Total Number of Banking Offices				1					1					1					1					1
Total Number of Insured Subsidiaries (Bank & Thrift Subsidiaries)				0					0					0					0					0
Total Number of ATMs				1					1					1					1					1
	DE
Total Number of Banking Offices				2					0					0					0					0
Total Number of Insured Subsidiaries (Bank & Thrift Subsidiaries)				1					0					0					0					0
Total Number of ATMs				1					1					0					0					0
	TOTAL
Total Number of Banking Offices				135					82					82					81					81
Total Number of Insured Subsidiaries (Bank & Thrift Subsidiaries)				2					1					1					1					1
Total Number of ATMs				154					83					84					84					84
Have you restated any prior period's financial statements for a pooling of interest and/or a change in
accounting principles?		NO
Periods Restated on this report:
Reason: