DNB Completes East River Bank Acquisition; Now Has More Than a Billion in Assets

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7.29.2014 DNB logoDNB Financial Corporation, the parent company of DNB First, has officially completed its acquisition of Philadelphia’s East River Bank.

The merger gives the newly combined financial institution close to $1.1 billion in assets, with $764 million in loans, as well as $841 million in deposits. The unified bank now has 15 branch offices throughout Chester, Delaware, and Philadelphia counties.

It also joins the five other financial institutions in Southeastern Pennsylvania with total assets of over $1 billion. All of East River Bank’s offices will be converted to the DNB First brand beginning early next month.

William J. Hieb, president and CEO of DNB, said that the corporation is pleased to complete the merger of the two banks which hold a strong shared legacy of financial performance and community engagement.

“As the new, more powerful DNB, we’re able to deliver a comprehensive set of financial products and services to consumers and businesses throughout the Greater Philadelphia region, while seeking to generate greater earnings for our shareholders,” said Hieb. “We’re excited and energized about the opportunities before us.”

Check out previous VISTA Today coverage of DNB here.

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