UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G/A

Under the Securities Exchange Act of 1934

(Amendment No. 4)1

KNBT BANCORP, INC.

(Name of Issuer)

COMMON STOCK, PAR VALUE $0.01 PER SHARE

(Title of Class of Securities)

482921 10 3

(CUSIP Number)

December 31, 2007

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:


[X]	Rule 13d-1(b)
[ ]	Rule 13d-1(c)
[ ]	Rule 13d-1(d)

___________________________
1 The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Page 1 of 5 Pages


CUSIP NO. 482921 10 3	13G/A	Page 2 of 5 Pages

1.	NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Keystone Nazareth Charitable Foundation (42-1607170)
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ]
3.	SEC USE ONLY
4.	CITIZENSHIP OR PLACE OF ORGANIZATION Non-Stock Corporation Incorporated in Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	5.	SOLE VOTING POWER 0
	6.	SHARED VOTING POWER 1,501,095
	7.	SOLE DISPOSITIVE POWER 1,501,095
	8.	SHARED DISPOSITIVE POWER 0
9.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,501,095
10.	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
11.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.7% (See Note 1 to Item 4)
12.	TYPE OF REPORTING PERSON OO


CUSIP NO. 482921 10 3	13G/A	Page 3 of 5 Pages

Item 1(a).	Name of Issuer:

	KNBT Bancorp, Inc.

Item 1(b).	Address of Issuer's Principal Executive Office:

	90 Highland Avenue Bethlehem, Pennsylvania 18017

Item 2(a).	Name of Person Filing:

	Keystone Nazareth Charitable Foundation

Item 2(b).	Address of Principal Business Office or, if None, Residence:

	90 Highland Avenue Bethlehem, Pennsylvania 18017

Item 2(c).	Citizenship:

	Non-stock corporation incorporated in Delaware

Item 2(d).	Title of Class of Securities:

	Common Stock, par value $0.01 per share

Item 2(e).	CUSIP Number:

	482921 10 3

Item 3.	If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a:

	Not Applicable

Item 4.	Ownership.

	(a)	Amount beneficially owned:

		1,501,095


CUSIP NO. 482921 10 3	13G/A	Page 4 of 5 Pages


(b)	Percent of class:

	5.7% (based on 26,527,157 shares issued and outstanding as of December 31, 2007)

(c)	Number of shares as to which such person has:

	(i)	Sole power to vote or to direct the vote 0
	(ii)	Shared power to vote or to direct the vote 1,501,095 _
	(iii)	Sole power to dispose or to direct the disposition of 1,501,095 _ _
	(iv)	Shared power to dispose or to direct the disposition of 0 _

The Keystone Nazareth Charitable Foundation (the "Foundation") was formed in connection with the conversion of Keystone Nazareth Bank & Trust Company (the wholly owned subsidiary of KNBT Bancorp, Inc. (the “Company”)). Under the terms of the approval from the Federal Deposit Insurance Corporation, authorizing the establishment of the Foundation, shares of Common Stock owned by the Foundation are required to be voted in the same ratio as all other shares of Common Stock on all proposals presented to stockholders for consideration.

Note 1: The Company was merged with and into National Penn Bancshares, Inc. (“National Penn”), effective February 1, 2008, pursuant to the terms of an Agreement and Plan of Merger dated September 6, 2007, with each share of Company Common Stock converted into the right to receive 1.03 shares of National Penn common stock. As a result of the merger, the Foundation’s ownership of shares of common stock of National Penn amounted to less than 5% of the issued and outstanding shares of National Penn common stock.

Item 5.	Ownership of Five Percent or Less of a Class.

	If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [X].

Item 6.	Ownership of More than Five Percent on Behalf of Another Person.

	Not Applicable.

Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company.

	Not Applicable.


CUSIP NO. 482921 10 3	13G/A	Page 5 of 5 Pages

Item 8.	Identification and Classification of Members of the Group.

	Not Applicable.

Item 9.	Notice of Dissolution of Group.

	Not Applicable.

Item 10.

Certification.

By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

		Keystone Nazareth Charitable Foundation


March 26, 2008	By:	/s/Michele A. Linsky
		Name: Michele A. Linsky
		Title: Secretary

KNBT BANCORP INC SC 13G/A