Earnings Call Excerpt
National Penn Bancshares Inc. (NPBC)
Q4 2008 Earnings Call
January 29, 2009 1:00 pm ET
Executives
Michelle Debkowski – Investor Relations
Glenn Moyer – President and Chief Executive Officer
Michael Reinhard – Chief Financial Officer
Scott Fainor – Chief Operating Officer
Presentation
Operator
Welcome today’s program National Penn Bancshares Webinar. At this time all participants are in a listen only mode. Please note this call may be recorded. I’ll be standing by if you should need any assistance. It is now my pleasure to turn the conference over to Michelle Debkowski., please go ahead.
Michelle Debkowski
Thank you. Good afternoon and welcome to National Penn Bancshares Fourth Quarter and Year-End 2008 Earnings Webcast. Questions will be accepted up to the conclusion of our prepared remarks via Email.
Please use the Email button located on the conference screen to ask your question. Due to time constraints, we may not be able to answer all of your Emails. Additionally, as we review questions received, we may combine questions that raise similar issues or can other wise be combined for comments.
As part of our webcast presentation you will see that there are slides with financial highlights available for your independent review. The presentation and slides will be available on our Web site, as well as filed on form 8-K with the Securities and Exchange Commission following our webcast.
The presentation contains forward-looking information that is intended to be covered by the Safe Harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Many of these factors are listed on the slide on your screen. I’ll give you a moment to review the slides.
I’ll now turn today’s presentation over to Glenn Moyer, our President and Chief Executive Officer. Glenn?
Glenn Moyer
Thank you Michelle. Also joining us today is Scott Fainor our Chief Operating Officer and Michael Reinhard our Chief Financial Officer. I will start the call today by noting that our fourth quarter and year end 2008 earnings release is available on the investor relations section of our Web site.
Earlier today we included a press release in a report on form 8-K that we filed with the Securities and Exchange Commission. Mike Reinhard will provide an overview of our financials; Scott Fainor will review our loan and deposit growth and asset quality. I will then wrap out with some concluding comments.
Our overall message today is that National Penn is navigating through this unprecedented economic situation with some disappointments, but positive news as well. Our challenges were outlined in an 8-K that we filed on December 30th 2008 and include increased credit cost, other than temporary impairment in our investment portfolio and a charge for an employee fraud loss.
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