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National Penn becomes founding partner of LV Phantoms

By 69 News, (follow: @69news), news@wfmz.com
Published On: Jan 15 2013 11:58:45 AM CST
ALLENTOWN, Pa. -

The Lehigh Valley Phantoms hockey team picked up another endorsement Tuesday.

National Penn Bancshares Inc. announced it is a founding partner of the team, as well as the Allentown Arena where the Phantoms will play.

National Penn will be the only bank to be a founding partner of the arena, and will be the official bank of the team.

The bank helped make the arena project possible by leading a $35 million loan facility in 2011 to help cover the cost of the site acquisition and development, according to a National Penn statement.

In October 2012, National Penn announced it will relocate its corporate headquarters to Seventh and Hamilton streets, bringing approximately 275 employees to the coming Two City Center building, which is scheduled to be completed in the spring of 2014.

National Penn joins team and arena founding partners Lehigh Valley Health Network, Service Electric Cable TV and Communications, Air Products and Capital BlueCross.

Details of the long-term, multiyear agreement were not released.

The Phantoms plan to start playing in the arena in the fall of 2014.