On Friday, Shares of National Penn Bancshares (NASDAQ:NPBC), lost -1.39% to $12.08.
Shareholders of National Penn Bancshares, Inc. (Nasdaq: NPBC) voted to approve the agreement and plan of merger under which National Penn will merge with and into BB&T Corporation (BBT).
“We are very happy that National Penn shareholders have overwhelmingly supported the merger with BB&T. Partnering with a community focused institution such as BB&T will benefit our shareholders, employees, customers and communities,” said Scott V. Fainor, president and CEO, National Penn.
Completion of the merger is subject to customary closing conditions, counting receipt of necessary regulatory approvals.
National Penn Bancshares, Inc. operates as the bank holding company for National Penn Bank that provides commercial banking products, primarily deposits and loans to residents and businesses primarily in eastern and central Pennsylvania. Its deposit products comprise demand, NOW, money market, other checking and savings accounts, and certificates of deposit.
Shares of Wilshire Bancorp Inc (NASDAQ:WIBC), declined -3.94% to $11.22, during its last trading session.
Hanmi Financial Corporation (HAFC) (“Hanmi”), the holding company for Hanmi Bank, declared that it has withdrawn its proposal to combine with BBCN Bancorp, Inc. (BBCN) (“BBCN”). Hanmi’s decision to withdraw follows the declared definitive agreement between BBCN and Wilshire Bancorp, Inc. (WIBC) (“Wilshire”).
Wilshire Bancorp, Inc. operates as the holding company for Wilshire Bank that offers a range of financial products and services. The company operates in three segments: Banking Operations, Small Business Administration Lending Services, and Trade Finance Services.
Finally, United Parcel Service, Inc. (NYSE:UPS), ended its last trade with -2.00% loss, and closed at $98.00.
United Parcel Service, declared it will supply its fleet in Memphis, Tenn., and Jackson, Miss., with an estimated 15 million diesel gallon gas equivalents of renewable natural gas (RNG) as part of a multi-year agreement with Memphis Light, Gas and Water and Atmos Energy Marketing, LLC.
“UPS operates one of the most diversified fleets in private industry recently, and renewable natural gas is a critical part of our strategy to expand our fuel sources and minimize the environmental impact associated with growing customer demand,” said Mark Wallace, UPS senior vice president global engineering and sustainability. “We are using methane that otherwise would be released into the atmosphere as a greenhouse gas emission and converting it to power our trucks while assisting to promote the use of this renewable fuel in transportation.”
The deal is part of an initiative declared earlier this year by UPS to significantly expand its use of renewable natural gas in UPS’s alternative fuel and advanced technology fleet. The company has a aim of driving one billion miles with its alternative fuels fleet, known as the Rolling Laboratory by the end of 2017, an effort that is reducing environmental impact and assisting to advance new sustainability solutions and markets.
United Parcel Service, Inc., a package delivery company, provides transportation, logistics, and financial services in the United States and internationally. It operates in three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight.
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