DOWNINGTOWN, Pa., Nov. 7, 2016 /PRNewswire/ -- DNB First, NA today
announced the successful conversion of East River Bank, including
systems integration and the re-branding of three locations in
Philadelphia as of Monday, November 7, 2016.
East River Bank was acquired by
DNB Financial Corporation (NASDAQ: DNBF), the parent of DNB First,
and subsequently merged with and into DNB First, in a transaction
that closed on October 1, 2016.
With the combination of the two organizations, DNB First now has
approximately $1.1 billion in assets,
$764 million in loans, and
$841 million in deposits, making it
the sixth largest financial institution headquartered in
Southeastern Pennsylvania. DNB
First now has 15 branch offices in Chester, Delaware and Philadelphia counties, including the three
former East River Bank locations in East
Falls, Roxborough and Old
City.
"What originally drew us to East River Bank was their strong
financial performance and deep community engagement. They shared
many of the values that we at DNB First hold in high regard.
Combined, we are a stronger bank that prides itself on commitment,
community and convenience. We look forward to expanding our
presence in the Philadelphia
region, where we feel we can continue to grow with the dynamic
community," says William J. Hieb,
President and Chief Executive Officer of DNB First.
"With the completion of this transition, our clients can expect
a comprehensive set of financial products and services with the
same sound guidance and sincere customer service they valued with
East River Bank. We're thrilled to be on board with DNB First and
know that our expanded team will be there for all customers, new
and old," says Christopher McGill,
former President and Chief Executive Officer of East River Bank,
who will stay on as Executive Vice President and Chief Commercial
Lending Officer for DNB First.
For more information about DNB First, or to schedule an
interview with President and Chief Executive Officer,
William J. Hieb, please contact
Abby Littleton at (215)
627-4747 or via e-mail at al@neffassociates.com.
About DNB First, NA
DNB First, National Association,
is a community bank headquartered in Downingtown, Pennsylvania with 15 locations.
DNB First, NA is a bank subsidiary of holding company, DNB
Financial Corporation. Founded in 1860, DNB First, in addition to
providing a broad array of consumer and business banking products,
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.
CONTACT:
|
|
Kelly
Wolf
|
Abby
Littleton
|
Neff
Associates
|
Neff
Associates
|
O: 215.627.4747
x300
|
O: 215.627.4747
x106
|
C:
610.574.0688
|
C:
609.220.2605
|
kw@neffassociates.com
|
al@neffassociates.com
|
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visit:http://www.prnewswire.com/news-releases/dnb-first-completes-conversion-of-philadelphia-based-east-river-bank-300357930.html
SOURCE DNB First