DNB Financial Corporation Announces the Death of Chairman and Chief Executive Officer William S. Latoff
January 11 2016 - 2:10PM
DNB Financial Corporation (NASDAQ:DNBF), today announced the death
of its Chairman and Chief Executive Officer William S. Latoff.
Mr. Latoff first became a Director of DNB Financial Corporation
in 1998. He was also a Director and past Chairman of the Chester
County Industrial Development Authority and Chairman of the Chester
County Library Trust Board. He was a Board Member of the
Chester County Economic Development Council. He was Chairman
of the Nominating Advisory Committee of the Federal Reserve Bank of
Philadelphia and was a member of the American Bankers Association's
Public Affairs Committee. Mr. Latoff recently received the
Chester County Historical Society’s Founder’s Award and the
Foundation for Catholic Education Supporting Chester County 2014
Hall of Fame Award. In 2015 he was the recipient of the Chester
County Council Boy Scouts of America's Distinguished Citizens
Award.
William J. Hieb, President, said, "It is with great sadness that
we learned this morning of Bill Latoff's passing. Bill has served
as CEO of DNB Financial Corporation since 2004 and, through his
vision and leadership, did so much to build and strengthen our
company. Never satisfied with business and financial success alone,
Bill's generosity and concern for others were the driving force
behind DNB First's deep commitment to our community. All of us at
DNB will miss him greatly, and we extend our deepest sympathy to
his wife, Mary, and family."
The Company's board of directors will meet on an expedited basis
to implement the Company’s succession plan regarding the Chairman
and CEO roles. DNB Financial Corporation is the parent of DNB
First, National Association, one of the first nationally-chartered
community banks to serve the greater Philadelphia region.
About DNB Financial Corporation
DNB Financial Corporation is a bank holding company whose bank
subsidiary, DNB First, National Association, is a community bank
headquartered in Downingtown, Pennsylvania with 12 locations. DNB
First, which was founded in 1860, provides a broad array of
consumer and business banking products, and offers brokerage and
insurance services through DNB Investments & Insurance, and
investment management services through DNB Investment Management
& Trust. DNB Financial Corporation's shares are traded on
Nasdaq's Capital Market under the symbol: DNBF. We invite our
customers and shareholders to visit our website at
https://www.dnbfirst.com. DNB's Investor Relations site can be
found at http://investors.dnbfirst.com/.
Jonathan T. McGrain
SVP, Director of Sales and Marketing
(484) 359-3221
jmcgrain@dnbfirst.com
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