DNB Financial Corporation, the parent company of DNB First, one of the first nationally-chartered community banks to serve the Greater Philadelphia region, has reported solid results for the quarter ended Sept. 30, 2016.

“Third quarter results represent good operating trends, which reflect our steadfast commitment to disciplined banking,” said William J. Hieb, President and CEO of DNB Financial. “We are particularly pleased with our solid loan and core deposit growth, continued stable credit quality, and wealth management business.

“On Oct. 1, 2016, we successfully completed the acquisition of East River Bank, and we are excited about the opportunities this combination provides us to grow our customer relationships in southeastern Pennsylvania.”

On a core basis, the Company reported net income available to common stockholders of $1.2 million, or $0.42 per diluted share, for the quarter ending Sept. 30, 2016 compared with $1.3 million, or $0.44 per diluted share, for the corresponding prior year period.

Core earnings excludes merger-related expenses of $1.5 million, gains from insurance proceeds of $30,000, and an associated income tax adjustment of $259,000 for the three months ending Sept. 30, 2016.

Core earnings were $3.7 million, or $1.29 per diluted share, for the nine months ending Sept. 30, 2016, compared with $3.7 million, or $1.31 per diluted share, for the same period, last year.

Other highlights include:

• Total loans increased 8.3 percent on a year-over-year basis and 3.0 percent (not annualized) on a sequential quarter basis. Total growth for the third quarter of 2016 was primarily due to stronger demand for commercial real estate loans and consumer loans.
• Core deposits increased 5.8 percent and 1.0 percent (not annualized) on a year-over-year basis and sequential quarter basis, respectively.
• Asset quality remained stable. Net loan charge-offs were only 0.03 percent (annualized) of total average loans for the third quarter of 2016, and non-performing loans were 1.36 percent of total loans at quarter-end.
• Wealth management assets under care increased 10.1 percent (not annualized) to $210.8 million as of Sept. 30, 2016, from $191.5 million as of Dec. 31, 2015.
• The Company paid a quarterly cash dividend of $0.07 on Sept. 20, 2016.