National Penn Bancshares

The story begins in 1874 in Boyertown, Pennsylvania, when Aaron Mory, Milton Mory, and Daniel Boyer founded The National Bank of Boyertown. This institution was built on serving the local community, a principle that would guide it for over a century. For decades, it grew steadily, becoming a trusted local financial partner. The bank's journey as a larger entity began in 1982 when it went public. In 1993, reflecting its expanded reach, the company changed its name to National Penn Bancshares. Throughout the 1990s and 2000s, National Penn grew by acquiring other local banks, expanding its footprint across Pennsylvania and into neighboring states like New Jersey and Maryland. By 2015, the bank had grown significantly, holding $9.6 billion in assets with 124 branches. The final chapter for National Penn came in August 2015, when it was announced that the much larger BB&T Corporation would acquire the company for approximately $1.8 billion in a cash-and-stock deal. This move was part of BB&T's strategy to significantly expand its presence in the Mid-Atlantic region. The acquisition was completed on April 1, 2016, marking the end of National Penn as an independent entity but integrating its long legacy into the larger BB&T, now Truist Financial.