* Q4 adj EPS $0.10 vs est. $0.07
* Q4 EPS $0.05 vs loss/shr $2.25 yr ago
* Q4 loan loss provision falls 62 pct
* Says capital, reserve levels to help TARP repayment
Jan 27 National Penn Bancshares NPBC.O posted
a better-than-expected quarterly profit as it set aside less
money to cover loan and lease losses.
The company, which had received $150 million in bailout
funds from the U.S. government, said its current capital and
reserve levels should give it the ability to speed up repayment
of Troubled Asset Relief Program (TARP) funds.
Fourth-quarter net income applicable to common share
holders stood at $6.6 million, or 5 cents a share, compared
with a loss of $283.3 million, or $2.25 a share, last year.
A goodwill impairment charge of $275 million had hurt the
Excluding items, National Penn, with a market value of
$1.19 billion, posted earnings of 10 cents per share.
Analysts on average had expected the bank holding company
to post earnings of 7 cents a share, according to Thomson
Provision for loan and lease losses fell 62 percent to
Shares of the Boyertown, Pennsylvania-based company closed at
$8.66 on Wednesday on Nasdaq. They have gained a third in value
since the company received a $150 million investment from
private equity firm Warburg Pincus in October.
(Reporting by Rachel Chitra in Bangalore; Editing by