"Our initiatives to build and diversify the bank's revenue sources, combined with disciplined management of interest expense and a lower cost of funds, supported year-over-year quarterly earnings growth and contributed to increased shareholder value," said William S. Latoff, Chairman and CEO. "We were particularly pleased with the increased bottom-line contribution from non-interest income sources, including fees from deposit accounts and revenue generated by our growing wealth management business, where we believe there is significant opportunity for expansion. Wealth management represents a predictable and growing stream of revenue for the bank.""We invested in building our asset management business, and were fortunate to have added three very experienced and proven individuals responsible for overseeing billions of dollars under management in previous positions at larger financial institutions, and two individuals to provide operational and administrative support. We expect continuing revenue traction in 2013 and beyond as DNB First grows its visibility and reputation for providing exceptional investment and wealth management solutions."
DNB Financial Corporation Reports Year-Over-Year Earnings Growth In First Quarter 2013
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