William J. Hieb, President and COO, said, "As we move forward, we won't lose sight of the continued importance of expense control. We believe we have instilled that sense of ownership and pride that makes controlling costs a part of our daily operations."Total assets were reduced by $31.9 million, to $602.3 million at December 31, 2010 compared to $634.2 million at December 31, 2009. The overall decline in assets was part of DNB's strategy to reduce the cost of funds and improve core earnings by substituting loans for investment securities. The reduction was due to a $17.5 million decrease in cash and cash equivalents and a $49.3 million decrease in investment securities, offset by a $36.7 million increase in net loans and leases.
DNB Financial Corporation Announces 2010 Fourth Quarter And Full Year Earnings
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