This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

DNB Financial Corporation Reports Third Quarter, Nine Month 2013 Results

Stocks in this article: DNBF

William J. Hieb, President and Chief Risk & Credit Officer, noted: "As we have discussed in past quarters, we continue to execute on our goal of moving non-performing assets through the bank, into OREO and off our books. As of September 30, 2013, we have entered into agreements to sell two large OREO properties which are scheduled to close in the fourth quarter. Further, we see continued improvement in asset quality as measured by delinquencies and other risk factors, which we anticipate will translate to lower non-performing asset levels in future quarters."

As previously noted, the company's capital ratios remained significantly above accepted minimum regulatory standards for well-capitalized institutions, with a Tier 1 leverage ratio of 10.39%, Tier 1 risk-based capital ratio of 15.18% and a total risk-based capital ratio of 16.16% at September 30, 2013.

Return on average assets and return on average equity for the first nine months of 2013 were 0.56% and 6.38%, respectively. Return on average assets and return on average equity in the third quarter of 2013, both impacted by the increased provision for credit losses, were 0.20% and 2.28%, respectively.

Total stockholders' equity was $57.75 million at September 30, 2013, compared with $56.71 million at December 31, 2012 and $55.67 million at September 30, 2012. Book value per common share was $16.28 at September 30, 2013 compared with $16.08 at December 31, 2012.

Latoff concluded: "As we have discussed, our utmost focus as a management team is to execute in a prudent way and build shareholder value. Strengthening DNB's balance sheet and improving asset quality have been priorities for 2013. We are well served by the improvement to DNB's asset quality, which will allow for a continued focus on improving earnings and operational efficiency. As a significant shareholder of DNB, I have great confidence in our team, and in the company's future prospects."

4 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs