M&A Deal Summary

National Penn Bancshares Acquires Elverson National Bank

On January 4, 1999, National Penn Bancshares acquired financial services company Elverson National Bank for 102M USD

Acquisition Highlights
  • This is National Penn Bancshares’ 2nd transaction in the Financial Services sector.
  • This is National Penn Bancshares’ largest (disclosed) transaction.
  • This is National Penn Bancshares’ 2nd transaction in the United States.
  • This is National Penn Bancshares’ 2nd transaction in Pennsylvania.

M&A Deal Summary
Date 1999-01-04
Target Elverson National Bank
Sector Financial Services
Buyer(s) National Penn Bancshares
Deal Type Add-on Acquisition
Deal Value 102M USD
Advisor(s) Boenning & Scattergood (Financial)
Dechert (Legal)

Target

Elverson National Bank

Morgantown, Pennsylvania, United States
Elverson National Bank is a provider of full range of banking services and products.

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Buyer(S) 1

Buyer

National Penn Bancshares

Allentown, Pennsylvania, United States
Category Company
Founded 1874
Sector Financial Services
Employees1,600
Revenue 380M USD (2014)
DESCRIPTION

National Penn Bancshares, Inc. is a bank holding company. National Penn has 124 community banking offices provides financial services.

DEAL STATS #
Overall 2 of 6
Sector (Financial Services) 2 of 6
Type (Add-on Acquisition) 2 of 6
State (Pennsylvania) 2 of 4
Country (United States) 2 of 6
Year (1999) 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1993-12-01 Community Financial Bancorp

Pennsylvania, United States

Community Financial Bancorp, Inc. is a financial services company.

Buy $7M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-07-11 Panasia Bank N.A.

Fort Lee, New Jersey, United States

Panasia Bank N.A. provides a full range of banking products and services.

Buy $20M
Mergr

Product

Company

Legal