National Penn Bank Says It Will Close Nine Branches, Cut Staff

After three years of stable operating expenses, and positive returns for investors in 2013, the owner of National Penn bank said this week it is cutting staff and consolidating nine branch locations.

“The consistency of our financial performance with such a strong return on assets is a tribute to the efforts of our entire team,” National Penn President and CEO Scott V. Fainor said in a statement.

National Penn Bancshares Inc.’s restructuring also includes previously announced plans to move its headquarters from Boyertown, Pa., to Center City Allentown.

Read more: http://www.lehighvalleylive.com/breaking-news/index.ssf/2014/01/national_penn_says_it_will_clo.html

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