DNB First Completes Conversion of Philadelphia-Based East River Bank

By

William J. Hieb

7.29.2014 DNB logoDNB First has announced the successful conversion of East River Bank, including systems integration and the re-branding of three locations in Philadelphia.

East River Bank was acquired by DNB Financial Corporation, the parent of DNB First, and subsequently merged with and into DNB First, in a transaction that closed Oct. 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,” said William J. Hieb, President and CEO of DNB First. “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.”

“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,” said Christopher McGill, the former President and CEO of East River Bank who will stay on as Executive Vice President and Chief Commercial Lending Officer for DNB First.

“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.”

Connect With Your Community

Subscribe to stay informed!

"*" indicates required fields

Hidden
VT Yes
This field is for validation purposes and should be left unchanged.
Advertisement
Creative Capital logo