Exhibit 21

National Penn Bancshares, Inc.

National Penn Bancshares, Inc.
	NPB Capital Trust II
	NPB Capital Trust III
	NPB Capital Trust IV
	NPB Capital Trust V
	NPB Capital Trust VI
	National Penn Life Insurance Company
	National Penn Investment Company
	National Penn Bank
		Caruso Benefits Group, Inc.
		Higgins Insurance Associates
		KNBT Settlement Services, LLC
		Link Financial Services, Inc.
			Link Abstract, L.P. – 8-% owned by Link Financial Services, Inc. (limited partner)
		National Penn Capital Advisors
		National Penn Insurance Agency, Inc.
		National Penn Investors Trust Company
		National Penn Leasing Company
		National Penn Management Services, LLC
		DFM Realty, Inc.
		NPB Delaware, Inc.
		Vantage Investment Advisors, LLC
		Institutional Advisors, LLC
	Christiana Bank & Trust Company
		Christiana Corporate Services, Inc.
			Monarch Management Services, LLC
		Christiana Trust Company, LLC
		CBTD, LLC
		Christiana OREO, LLC