National Penn Bancshares Inc. (NASDAQ: NPBC), parent company of National Penn Bank, has acquired D.E. Love Associates Inc., a full service insurance agency headquartered in Yardley, Pa.
The deal was announced by Stamford, Conn.-based Philo Smith & Co., an nvestment banking firm specializing in insurance mergers and acquisitions, which advised D.E. Love in the transaction.
D.E. Love will operate as a division of National Penn Insurance Agency, Inc., a subsidiary of National Penn Bank. Duane E. Love, who established D. E. Love in 1980, will be president of the new division.
D.E. Love, which has 21 employees, has a strong presence in the growing Bucks County market.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Brown & Brown Files Suit Over Alleged Howden Poaching of 200+ Employees 
Freight Broker Says $400K in Lobster Meat Stolen in Fictitious Pickup 
Head of EEOC Urges White Men to Report Discrimination 
CEO Sentenced in Miami to 15 Years in One of the Largest Health Care Fraud Cases 
