National Penn Bancshares, Inc. (Nasdaq: NPBC) announced on Aug. 6 it has been ranked the 28th largest agricultural business lender in total dollar volume, according to the most recent data from the Federal Deposit Insurance Corporation.
National Penn’s agricultural loan portfolio approached $500 million at the end of the first quarter of 2014 and is well ahead of several of its regional competitors.
“We are thankful to be recognized for our support of the agricultural community,” said Tom Jordan, president of National Penn’s Lancaster Region. “This is a very exciting achievement and our team looks forward to continuing to provide agricultural lending services throughout the bank’s footprint.”
National Penn’s agricultural team brings more than 160 years of collective industry experience and provides resources to help meet the needs of its customers in a variety of farming sectors, including dairy, poultry, hogs and crops.