SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 28, 2001
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NATIONAL PENN BANCSHARES, INC.
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(Exact name of registrant as specified in its charter)
Pennsylvania 0-10957 23-2215075
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Ident. No.)
Philadelphia and Reading Avenues, Boyertown, PA 19512
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(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code (215) 367-6001
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N/A
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(Former name or former address, if changed since last report)
Item 5. Other Events.
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On February 28, 2001, the Board of Directors of National Penn
Bancshares, Inc. authorized the repurchase, from time to time, of up to 55,000
shares of its common stock in the open market or in negotiated transactions,
depending upon market conditions and other factors. No timetable has been set
for the repurchases. As of December 31, 2000, National Penn had 18,690,697
shares of common stock outstanding. National Penn will use the repurchased
shares to fund its dividend reinvestment plan, stock option plans, employee
stock purchase plan, and other stock-based benefit plans.
Statements made herein concerning National Penn's Board-authorized
stock repurchase program are forward-looking statements. Actual results could
differ materially due to, among other things, the risks and uncertainties
discussed in National Penn's previously filed Report on Form 8-K dated October
25, 2000. National Penn cautions readers not to place undue reliance on these
statements. National Penn undertakes no obligation to publicly revise or update
any of these statements.
SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NATIONAL PENN BANCSHARES, INC.
By /s/Wayne R. Weidner
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Name: Wayne R. Weidner
Title: President and CEO
Dated: February 28, 2001