National Penn promotes two

Boyertown, Pa. – March 17, 2010 – National Penn Bancshares, the fourth largest bank holding company based in Pennsylvania, and its KNBT division announced today that David B. Kennedy and Peter A. Gray have been promoted to new roles in the company.rnrn rnrnKennedy, formerly president of KNBT, has been promoted to group executive vice president and chief delivery officer – General Bank for National Penn Bank. The general bank is comprised of five regions led by region presidents– Central, Eastern, Northern, Southern and Western. Kennedy, a resident of Lower Saucon Township, PA, is responsible for the oversight of each regions’ delivery of commercial and retail banking products and services, as well as the cross referring efforts of services such as insurance offered by National Penn’s other lines of business. Also reporting to Kennedy are the company’s marketing, market management and communications groups.rnrn rnrn“Dave brings to his new role both the knowledge and leadership skills needed to address our challenges at this time,” said Scott V. Fainor, president and CEO of National Penn Bank. “The board and I are confident that he will help strengthen and grow our institution as it continues to deliver the highest quality service to our retail and business customers.”rnrn rnrnPrior to his promotion, Kennedy served as president of the KNBT Division of National Penn. Before KNBT’s merger with National Penn in February 2008, he was president of the Greater Lehigh Valley Region of KNBT. He began his career with Summit Bank (formerly First Valley Bank in Bethlehem). He has 27 years experience in the financial services industry. Kennedy earned his bachelor’s degree from Lafayette College and an MBA from Lehigh University.rnrn rnrnKennedy is a member of the board of the Northampton Community College Foundation; the Allentown Art Museum, the Saucon Valley Country Club, and is vice chair of the steering committee of the Allentown Neighborhood Development Alliance.rnrn rnrnPeter Gray, of Forks Township, has been promoted to president of KNBT (the General Bank’s Northern Region). Previously a commercial bank director in KNBT’s Lehigh Valley area, he now is responsible for the delivery of commercial banking, retail banking and residential mortgage lending in the KNBT marketplace. The KNBT division encompasses 54 community offices and two business centers throughout Lehigh, Northampton, Carbon, Monroe, Schuylkill and Luzerne Counties. Gray earned his bachelor’s degree from Kutztown University and an MBA from Farleigh Dickinson University.rnrn rnrn“Pete has over twenty three years of experience in commercial banking, ranging from middle market to business banking, cash management and special assets,” said Kennedy. “His knowledge and expertise are a great fit for us as we continue to look for new and innovative ways to serve our customers and grow revenue.”rnrn rnrnGray is a member of the board of directors of LVEDC, Northampton County General Purpose Authority, and is president of the Board of Leadership Lehigh Valley. rnrn