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.
DNB Financial Corporation Reports Third Quarter, Nine Month 2013 Results
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