BOYERTOWN PA – High trading volume and a sharp decline in the price Wednesday (June 17, 2009) of publicly traded stock of Boyertown-based National Penn Bank coincided with the end of its offer to sell stock at a 10-percent discount under a dividend reinvestment and stock purchase plan begun last November, the bank said in a press release issued Wednesday after the close of business.

“We are not aware of any other reason for this unusual trading activity,” bank President and Chief Executive Officer Glenn E. Moyer said in the statement.

The bank operates branch offices in Royersford, Pottstown and Sanatoga.

When it launched the offering, the bank had hopes to raise $75 million in capital. It ended the program about six months earlier than expected, after raising $72.8 million. “We are particularly pleased that we achieved this capital-raising goal well ahead of our original schedule,” Moyer said.

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