The DNB Financial Corporation has reported net income of $808,000, or $0.19 per diluted share, for the quarter ending Dec. 31, 2017, compared with $2.3 million, or $0.55 per diluted share, for the same quarter, last year.

For the year ending Dec. 31, 2017, net income was $7.9 million, or $1.85 per diluted share, compared with $5.0 million, or $1.55 per diluted share, for the same period last year. Fourth quarter and full year 2017 results were impacted by a $1.8 million charge, or $0.43 per diluted share, to adjust deferred taxes due to the enactment of the Tax Cuts and Jobs Act.

DNB believes that non-GAAP measures are meaningful because they reflect adjustments commonly made by management, investors, regulators, and analysts to evaluate the adequacy of common equity and performance trends. DNB believes adjusted net income, earnings per share, ROAA, and ROAE provide a greater understanding of ongoing operations and enhances comparability of results with prior periods.

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“Strong fourth-quarter results help to define 2017 as a year in which significant progress was made to strengthen our banking franchise,” said William J. Hieb, DNB’s President and CEO. “We are well-positioned and excited about our growth prospects in the attractive markets of Greater Philadelphia.

“We remain focused on providing the superior service that our customers and the community have come to expect from DNB Financial.”

Among other highlights, DNB’s wealth management assets under care increased 18.0 percent to $252.8 million as of Dec. 31, 2017, from $214.2 million as of Dec. 31, 2016. Wealth management fees represented approximately 32 percent of total fee income for the year ended Dec. 31, 2017.

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