Contact: Frederick L. Hickman, President and CEO (570) 344-6113

North Penn Bancorp, Inc. Announces Receipt of Shareholder and Depositor

Approval for Second Step Conversion

* * * Closing Planned for October 1, 2007

September 26, 2007, Scranton, Pennsylvania – North Penn Bancorp, Inc. (OTCBB-NPEN), holding company for North Penn Bank, announced today that shareholders of North Penn Bancorp and depositors of North Penn Bank approved the conversion of North Penn Bank from the mutual holding company form of organization to the stock form of organization. North Penn Bancorp also announced that New North Penn Bancorp has received orders for 850,000 shares of common stock in the related stock offering.

As a result of the conversion and offering, North Penn Mutual Holding Company and North Penn Bancorp will cease to exist and New North Penn Bancorp, the Pennsylvania corporation formed to facilitate the conversion, will become the parent holding company of North Penn Bank and will be wholly owned by public stockholders. The conversion and offering are expected to be completed on the close of business on October 1, 2007. The closing of the transaction is subject to the satisfaction of customary closing conditions.

A total of 850,000 shares of common stock, the minimum of the offering range, will be sold in the subscription, community and syndicated community offerings at the price of $10.00 per share, including 48,000 shares to be purchased by the North Penn Bank Employee Stock Ownership Plan. The Employee Stock Ownership Plan will purchase an additional 20,000 shares though open market purchases after completion of the conversion. As part of the conversion, existing shares of North Penn Bancorp will be converted in to the right to receive 1.092 shares of New North Penn Bancorp common stock. The exchange ratio ensures that, after the conversion and offering, the public shareholders will maintain approximately the same ownership interest in New North Penn Bancorp as they owned in North Penn Bancorp. Cash will be issued in lieu of fractional shares based on the offering price of $10.00. Total shares outstanding after the stock offering and the exchange will be approximately 1,581,600 shares.

Stifel, Nicolaus & Company, Incorporated acted as financial advisor and marketing agent with respect to the offering. Muldoon Murphy & Aguggia LLP of Washington, D.C. acted as legal counsel to North Penn Bancorp.