DNB Financial Corporation, the parent of DNB First, has reported net income available to common stockholders of $2.3 million, or $0.55 per diluted share, for the quarter ending Dec. 31, 2016, compared with $1.4 million, or $0.48 per diluted share, for the same quarter in 2015.

For the year ending Dec. 31, 2016, net income available to common shareholders was $5.0 million, or $1.55 per share, compared with $5.1 million, or $1.79 per share, for the corresponding prior year period.

On Oct. 1, 2016, DNB Financial completed its acquisition of Philadelphia-based East River Bank, which added approximately $311 million in loans and $226 million in deposits. The system integration and rebranding was successfully completed on Nov. 4, 2016.

“2016 was another year of strong operating performance highlighted by the successful acquisition and integration of East River Bank in the fourth quarter,” said William J. Hieb, President and CEO of DNB Financial Corporation. “Core earnings remained solid throughout the year, and we are particularly pleased with our strong credit quality and continued growth of our wealth management business.”

Other highlights include:

• Primarily due to the acquisition of East River, total loans increased $335.8 million, or 70.0 percent, on a year-over-year basis and $308.1 million or 60.4 percent (not annualized) on a sequential quarter basis.
• The net interest margin increased to 3.63 percent for the quarter ending Dec. 31, 2016, compared with 3.14 percent for the year-earlier quarter and 3.06 percent for the quarter ending Sept. 30, 2016. The improvement was primarily due to the acquisition of East River Bank.
• Core deposits grew $146.8 million or 28.1 percent on a year-over-year basis and $118.3 million or 21.5 percent (not annualized) on a sequential quarter basis. The increase was mainly due to core deposits acquired in the East River acquisition.
• Asset quality remained strong. Net loan charge-offs were only 0.01 percent (annualized) of total average loans for the fourth quarter of 2016, and non-performing loans were 1.14 percent of total loans at year-end.
• Wealth management assets under care increased 11.8 percent to $214.2 million as of Dec. 31, 2016, from $191.5 million as of Dec. 31, 2015.
• The Board of Directors declared a cash dividend of $0.07 per share, paid on Dec. 22, 2016.