Chester County Briefly: July 25

By
Leslie Rylke

Chester County Economic Development Council

Leslie Rylke has been named Marketing and Creative Services Manager for the CCEDC, a nonprofit, economic development organization promoting smart growth that is headquartered in Exton.

Since joining the CCEDC in August 2013, Rylke has been charged with communicating the value, benefit, and impact of the organization, as well as its numerous industry partnerships and initiatives, and launching the CCEDC’s Weekend Edition e-newsletter in partnership with VISTA Today.

A skilled project manager, Rylke’s experience includes marketing, communications, special events, social media engagement, community outreach, and strategic planning for organizations including the Lionville Community YMCA, the Mann Center for the Performing Arts, and the United States Holocaust Memorial Museum.

“Leslie has not only expanded our internal capacity for designing our communications pieces; she has brought significant creative support to telling the CCEDC story and bringing our brand to the community at-large,” said Gary Smith, the CCEDC’s President and CEO.

DNB Financial Corporation

DNB reported net income in accordance with generally accepted accounting principles of $2.3 million, or $0.53 per diluted share, for the quarter ending June 30, 2017, compared with $1.1 million, or $0.39 per diluted share, for the same quarter last year. For the six months ending June 30, 2017, the company reported net income of $4.7 million, or $1.10 per diluted share, compared with $2.7 million, or $0.93 per diluted share, for the same period, last year.

On Oct. 1, 2016, DNB completed its acquisition of Philadelphia-based East River Bank and its results of operations are included in the consolidated results for the periods ended Dec. 31, 2016, March 31, 2017, and June 30, 2017, but are not included in the results of operations for any other periods.

“Second-quarter results represent progress toward the accomplishment of many of our strategic goals, which include providing superior customer service, growing core deposits and wealth management, and organically building capital and tangible book value,” said William J. Hieb, DNB’s President and CEO. “Although our credit costs were elevated this quarter, nonperforming assets remain at relatively low levels and asset quality remains strong.”


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Public Hearing on PAWC’s Rate Increase for Coatesville Area

State Senator Andy Dinniman announced that a public input hearing on Pennsylvania-American Water Company’s (PAWC) proposed rate increase for Coatesville-area customers is set for Thursday, Aug. 3 at 1 PM in East Fallowfield Township.

The hearing, scheduled by the Pennsylvania Public Utility Commission (PUC) at the request of Sen. Dinniman, will be held at the East Fallowfield Township Building located at 2264 Strasburg Road in East Fallowfield.

Residents impacted by the proposed rate increase are encouraged to attend and voice their concerns about the proposed increases to both water and wastewater service.

PAWC filed a request with the Pennsylvania Public Utility Commission (PUC) to increase water rates by 17.06 percent and wastewater rates by 23.09 percent increase for customers in the Coatesville area.

Frontline Education

Malvern’s Frontline Education, an integrated insights partner serving more than 12,000 educational organizations, recently announced the acquisition of School Improvement Network, a leading professional growth provider for education. This is Frontline’s 10th acquisition overall and the second of this year.

As one of the fastest-growing companies in K-12 education, Frontline offers a comprehensive solutions platform that includes Recruiting & Hiring, Absence & Time, Professional Growth, and Special Ed & Interventions. Frontline has invested in these solutions, but also improved client services with streamlined implementation and an award-winning client success team. The acquisition of School Improvement Network makes a great addition to the already industry-leading Frontline Professional Growth solution.

“Professional Growth is a critical part of the Frontline Insights Platform and School Improvement Network’s unique resources in professional learning are unmatched,” said Tim Clifford, Frontline’s President and CEO. “We have always believed in the value of professional learning in advancing student outcomes, but this acquisition is especially relevant and timely considering the recent focus on federal funding of professional development in education.”


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Endo

Malvern’s Endo has announced that, after completing a comprehensive review of its manufacturing network, it will be ceasing operations and closing its manufacturing and distribution facilities in Huntsville, Ala. The closure of the facilities is expected to take place over the next 12-18 months.

The Huntsville location has been impacted by declining volumes of commoditized products and these restructuring actions are intended to better match manufacturing capacity to projected future demand.

“Endo’s key priorities include building our product portfolio and technological capabilities for the future,” said Paul Campanelli, Endo’s President and CEO. “Today’s announced action enables a redeployment of investment from commoditized products to more differentiated capabilities and products that represent our core areas of future growth.”

These restructuring actions are expected to reduce Endo’s workforce by approximately 875 positions.

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