National Penn Bancshares Inc. (NPBC, Financial) filed Quarterly Report for the period ended 2010-06-30.
National Penn Bancshares Inc. has a market cap of $836.8 million; its shares were traded at around $6.64 with and P/S ratio of 2.1. The dividend yield of National Penn Bancshares Inc. stocks is 0.6%.NPBC is in the portfolios of Richard Pzena of Pzena Investment Management LLC, Diamond Hill Capital of Diamond Hill Capital Management Inc, Pioneer Investments, Steven Cohen of SAC Capital Advisors.
Net interest income increased $7.6 million from $61.1 million for the three months ended June 30, 2009 to $68.6 million for the three months ended June 30, 2010.
Non-interest income increased $7.2 million to $28.5 million for the three months ended June 30, 2010 compared to $21.3 million for the prior year period primarily as a result of $7.1 million of other-than-temporary impairment recorded in the prior year of which there was none in the current quarter.
For the six months ended June 30, 2010, the Company recorded a net loss available to common shareholders of $3.6 million, or a loss of $0.03 per diluted share. This represents an increase of $4.3 million from the net loss available to common shareholders of $7.9 million or $0.09 per common share for the six months ended June 30, 2009. Adjusted net income totaled $13.8 million for the six months ended June 30, 2010, or $0.11 per diluted share, compared to $6.0 million, or $0.07 per diluted share for the comparative period in 2009. Adjusted net income excludes certain items which management believes affect the comparability of results between periods and were as follows for the six months ended:
Non-interest income for the six months ended June 30, 2010 increased $14.6 million to $51.1 million compared to $36.5 million for the six months ended June 30, 2009 and included the following changes:
The Company s total assets were $9.2 billion at June 30, 2010, a decrease of $262 million or 2.8% from the $9.5 billion at December 31, 2009. The decrease was primarily in loans which declined $266 million during the first six months of 2010.
Read the The complete Report
National Penn Bancshares Inc. has a market cap of $836.8 million; its shares were traded at around $6.64 with and P/S ratio of 2.1. The dividend yield of National Penn Bancshares Inc. stocks is 0.6%.NPBC is in the portfolios of Richard Pzena of Pzena Investment Management LLC, Diamond Hill Capital of Diamond Hill Capital Management Inc, Pioneer Investments, Steven Cohen of SAC Capital Advisors.
Highlight of Business Operations:
For the three months ended June 30, 2010, the Company recorded a net loss available to common shareholders of $5.5 million, or a loss of $0.04 per diluted share. This represents an increase of $4.1 million from the net loss available to common shareholders of $9.6 million or $0.11 per common share for the three months ended June 30, 2009. Adjusted net income excludes certain items which management believes affect the comparability of results between periods and totaled $9.8 million for the second quarter of 2010, or $0.08 per diluted share, compared to a loss of $2.0 million, or $0.03 per diluted share for the second quarter of 2009. Adjusted net income excluded the effects of the following items during the second quarter:Net interest income increased $7.6 million from $61.1 million for the three months ended June 30, 2009 to $68.6 million for the three months ended June 30, 2010.
Non-interest income increased $7.2 million to $28.5 million for the three months ended June 30, 2010 compared to $21.3 million for the prior year period primarily as a result of $7.1 million of other-than-temporary impairment recorded in the prior year of which there was none in the current quarter.
For the six months ended June 30, 2010, the Company recorded a net loss available to common shareholders of $3.6 million, or a loss of $0.03 per diluted share. This represents an increase of $4.3 million from the net loss available to common shareholders of $7.9 million or $0.09 per common share for the six months ended June 30, 2009. Adjusted net income totaled $13.8 million for the six months ended June 30, 2010, or $0.11 per diluted share, compared to $6.0 million, or $0.07 per diluted share for the comparative period in 2009. Adjusted net income excludes certain items which management believes affect the comparability of results between periods and were as follows for the six months ended:
Non-interest income for the six months ended June 30, 2010 increased $14.6 million to $51.1 million compared to $36.5 million for the six months ended June 30, 2009 and included the following changes:
The Company s total assets were $9.2 billion at June 30, 2010, a decrease of $262 million or 2.8% from the $9.5 billion at December 31, 2009. The decrease was primarily in loans which declined $266 million during the first six months of 2010.
Read the The complete Report
