DNB Financial Corporation, parent of DNB First, recently announced a 2013 financial report, and that it has named veteran banker Vince Liuzzi to the job of executive vice president and chief banking officer.

Liuzzi will report directly to William S. Latoff, chairman and chief executive officer and will lead the bank’s retail, consumer and mortgage lending and marketing lines of business.

DNB Financial said in a news release the new executive leadership role is part of an overall strategy designed to enhance the bank’s profitability, market share and growth plans. Liuzzi joins the bank’s current executive team: William J. Hieb, president and chief risk and credit officer; Gerald F. Sopp, chief financial officer; and Albert J. Melfi Jr., chief lending officer.

“We are excited to have an executive with Vince’s abilities and experience in leading large retail banking networks working for us, as we look to complement our strong commercial banking capabilities with an expanded retail banking operation,” Latoff said. “We have previously discussed our plans to expand our business on a number of fronts, and we expect Vince to play a key role in executing this strategy.”

Latoff said the bank’s performance in 2013 reflects its commitment to growing revenue from varied services.

“The company’s focus on increasing shareholder value is reflected in the value of our stock, which increased $5.25 or 34 percent during the year, from $15.50 to $20.75,” Latoff reported.

For 2013, net income available to common shareholders was $3.77 million or $1.36 per diluted common share, compared with $4.91 million or $1.79 per diluted common share for 2012. Earnings in 2013 were impacted by a $3.6 million write-down of three non-performing commercial credits, requiring an additional provision for loan losses of $1.3 million in the third quarter.

“While accomplishing important objectives to strengthen DNB’s balance sheet and improve asset quality, we also made strategic investments that have expanded DNB’s capabilities and firmly positioned us for the future,” Latoff said. “During the past year, the company made numerous investments, including infrastructure upgrades to enhance efficiency and expanded product lines and services to enhance customer relationships.

“With the major asset quality initiatives in our rear-view mirror, we are excited about the ability to leverage our expanded capabilities to drive revenue growth and profitability,” Latoff said.