EXHIBIT 99.2
National Penn
Bancshares, Inc.
Bancshares, Inc.
1st Quarter 2009
Earnings Webcast
Earnings Webcast
Safe Harbor Regarding
Forward Looking Statements
Forward Looking Statements
This release contains forward-looking information about National Penn Bancshares, Inc. that is 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
discussions of strategy, financial projections and estimates and their underlying assumptions, statements
regarding plans, objectives, expectations or consequences of announced transactions, and statements
about the future performance, operations, products and services of National Penn and its subsidiaries.
National Penn cautions readers not to place undue reliance on these statements.
National Penn’s business and operations are subject to a variety of risks, uncertainties and other factors.
Consequently, 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: National Penn’s obligations under
the U.S. Treasury’s TARP Capital Purchase Program; ability to obtain new capital and locate growth
opportunities; the ineffectiveness of NationalPenn’s business strategy due to changes in current or future
market conditions; the effects of competition, and of changes in laws and regulations oncompetition,
market conditions; the effects of competition, and of changes in laws and regulations oncompetition,
including industry consolidation and development of competing financial products and services; interest rate
movements; the performance of National Penn’s investment portfolio; inability to achieve merger-related
synergies; difficulties in integrating distinct business operations, including information technology difficulties;
disruption from announced transactions, and resulting difficulties in maintaining relationships with customers
and employees; and challenges in establishing and maintaining operations in new markets. The foregoing
and employees; and challenges in establishing and maintaining operations in new markets. The foregoing
review of important factors should be read in conjunction with the risk factors and other cautionary
statements included in National Penn’s Annual Report on Form 10-K for the fiscal year ended December 31,
2008, as well as any other documents filed by National Penn with the SEC after the date thereof. National Penn
makes no 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.
Overview (as of 3/31/2009)
l Assets $ 9.63 Billion
l Deposits $ 6.66 Billion
l Loans $ 6.37 Billion
l Equity $ 1.18 Billion
Financial Highlights 1Q 2009
3/31/2009 3/31/2008
l Net Income $3.80 million $ 21.59 million -82.4%
l Net Income Available
to Common Shareholders $1.75 million $21.59 million -91.9%
l Diluted EPS $0.02 $0.33 -93.9%
l Cash Dividends $0.1700 $0.1700 0; +0.0%
l ROE &# 160; 1.31 % 10.54 %
l ROA &# 160; .16 % 1.10 %
Reconciliation Table for Non-GAAP Financial Measure 3/31/09 3/31/08 | |||||||
Return on average shareholders' equity 1.31% | 10.54% | ||||||
Effect of goodwill and intangibles 1.33% | 11.30% | ||||||
Return on average tangible equity 2.64% | 21.84% | ||||||
Average tangible equity excludes merger-related average goodwill and intangibles: (000’s) | |||||||
Average shareholders' equity $1,176,494 | $ 823,757 | ||||||
Average goodwill and intangibles (592,816) | (426,039) | ||||||
Average tangible equity $ 583,678 | $ 397,718 | ||||||
Financial Highlights - 1Q 2009
Financial Highlights - 1Q 2009
Reconciliation Table for Non-GAAP Financial Measure 3/31/09
Net Income available to Common Shareholders $ 1,745
After tax unrealized fair market value gain on
NPB Capital Trust II Preferred Securities 1,234
AAfter tax other than temporary impairment
charge on CDO investment & #160; 5,060
charge on CDO investment & #160; 5,060
Core net income & #160; $ 8,039
Diluted earnings (loss) per share ; $ 0.02
After tax unrealized fair market value gain on
NPB Capital Trust II Preferred Securities 0.02
&# 160; After tax other than temporary impairment
&# 160; After tax other than temporary impairment
charge on CDO investment & #160; 0.06
Core diluted earnings per share ; $ 0.10