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DNB Financial Corporation Announces Third Quarter 2010 Earnings

Such forward-looking statements involve known and unknown risks, and uncertainties.   A number of factors, many of which are beyond the Corporation's control, could cause our actual results, events or developments, or industry results, to be materially different from any future results, events or developments expressed, implied or anticipated by such forward-looking statements, and so our business and financial condition and results of operations could be materially and adversely affected. Such factors include, among others, our need for capital; the impact of economic conditions on our business; changes in banking regulation and the possibility that any banking agency approvals we might require for certain activities will not be obtained in a timely manner or at all or will be conditioned in a manner that would impair our ability to implement our business plans; our ability to attract and retain key personnel; competition in our marketplace; and other factors as described in our securities filings. All forward-looking statements and information made herein are based on our current expectations as of the date hereof and speak only as of the date they are made. The Corporation does not undertake to update forward-looking statements.

For a complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K, as well as any changes in risk factors that we may identify in our quarterly or other reports filed with the SEC.
DNB Financial Corporation
Summary of Financial Statistics
(Dollars in thousands, except per share data)
  Three Months Ended Nine Months Ended
  September 30, September 30,
  2010 2009 2010 2009
 Interest income $6,522 $6,725 $19,699 $19,189
 Interest expense 1,570 2,772 5,588 8,015
 Net interest income 4,952 3,953 14,111 11,174
 Provision for credit losses 615 300 1,441 700
 Non-interest income 1,190 1,060 3,911 3,202
 Non-interest expense 4,064 3,895 12,812 12,379
 Income before income taxes 1,463 818 3,769 1,297
 Income tax expense  470 184 1,154 222
 Net income  993 634 2,615 1,075
 Preferred stock dividends and accretion of discount 154 154 463 412
 Net income available to common stockholders 839 480 2,152 663
 Net income per common share, diluted $0.32 $0.18 $0.82 $0.25
 Interest rate spread 3.30% 2.52% 3.11% 2.60%
 Net interest margin 3.34% 2.58% 3.16% 2.67%
 Return on average equity  8.39% 6.03% 7.75% 3.56%
 Return on average assets  0.64% 0.40% 0.56% 0.24%
  September 30,   December 31,  
  2010   2009  
 Securities  $ 182,041    $ 204,095  
 Loan and leases 385,248   359,427  
 Allowance for credit losses 6,110   5,477  
 Total assets 606,815   634,248  
 Deposits 494,074   507,347  
 Borrowings 61,890   79,450  
 Stockholders' equity 46,994   42,876  
 Tier 1 leverage ratio 9.03%   8.33%  
 Risk-based capital ratio 14.88%   14.27%  
 Book value per common share  $ 13.32    $ 11.88  
DNB Financial Corporation
Summary of Financial Statistics
(Dollars in thousands)
Reconciliation of Non-GAAP Financial Measures
   Three Months Ended Nine Months Ended
   September 30, September 30,
   2010 2009 2010 2009
 GAAP net income   $ 993  $ 634  $ 2,615  $ 1,075
 Gains on sales of securities  (399)  (273)  (1,374)  (824)
 Prepayment penalties on FHLB advances  --   --   560  -- 
 Income tax adjustment  136  93  268  280
 Non-GAAP net income (Core earnings)  $ 730  $ 454  $ 2,069  $ 531
CONTACT: DNB Financial Corporation
         Gerald F. Sopp, CFO/Executive Vice-President

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