DOWNINGTOWN, Pa., April 26, 2013 (GLOBE NEWSWIRE) -- DNB Financial Corporation (Nasdaq:DNBF) ("DNB"), parent of DNB First, National Association, was once again named by Keefe, Bruyette, and Woods (KBW) to its "Bank Honor Roll" of superior performers. This marks the third consecutive year DNB has earned this distinction from KBW, a highly regarded full-service, boutique investment bank and broker-dealer that specializes in the financial services sector. Out of 7,000 banks nationwide 400 banks were screened by KBW to be nominated for this award. While 47 banks in all were named to this honor roll, DNB was one of only 19 that have been recognized three consecutive years.
Through its Honor Roll, KBW recognizes financial institutions for their strong performance over the past 10 years and their ability to overcome obstacles and navigate difficult economic times. The Honor Roll only includes publicly traded banking companies with more than $500 million in total assets that meet the following conditions:
- No annual loss reported in net income per share before extraordinary items over the past 10 years.
- 2011 annual reported net income per-share before extraordinary items must have been equal to or greater than peak net income per-share over the past 10 years.
- Consecutive increases in net income per-share before extraordinary items since 2009.
"Despite 2012's uneven economic recovery and fiscal uncertainty, these Honor Roll banks managed to post healthier balance sheets through active liability management and also benefited from improving fundamentals as credit quality significantly improved," said Frederick Cannon, KBW Director of Research.DNB First Chairman and CEO, William S. Latoff added, "We're particularly proud of this tradition of being recognized by KBW amidst some of the most challenging economic conditions in years. It's a testament to our commitment to prudent financial management and growth and a reminder to our customers that they can feel confident in entrusting their finances to DNB First."