Earlier both National Penn and KNBT shareholders have approved the parent company merger. Subject to satisfaction of other customary closing conditions, closing of the parent company merger is expected to occur on February 1, 2008, and closing of the merger of the two banks is expected to occur on February 2, 2008.
Upon final approvals and completion of the mergers, the new company will create the fifth largest Pennsylvania-based bank holding company based on total assets.
