logo
  Join        Login             Stock Quote

DNB Financial (DNBF) 4Q Earnings Rise 1.3 Pct On Higher Non-Interest Income

 January 24, 2013 12:50 PM


(By Balaseshan) DNB Financial Corp. (NASDAQ: DNBF), the holding company of DNB First National Association bank, reported a 1.3% rise in quarterly earnings on higher non-interest income and lower provision for credit losses.

Earnings for the fourth quarter were $1.28 million or $0.47 per share, up from $1.17 million or $0.43 per share last year.

Net interest income declined to $5.32 million from $5.41 million, primarily due to lower interest and fees on loans due to lower average net loan balances.

Provision for credit losses declined to $180,000 from $202,000 in the previous year quarter. Non-interest income rose to $1.18 million from $865,000.

Non-interest expense increased 4.36% due largely to increased costs for occupancy, third party services (mainly legal), charitable contributions, and an increase in the reserve for unfunded commitments, offset in part by lower staffing costs.

The allowance for credit losses at December 31, 2012 was $6.8 million, up from $6.2 million last year. The allowance as a percentage of total loans and leases increased to 1.72% from 1.53%.

Net loans for commercial term and commercial mortgage increased 7.32% and 0.82% respectively, while commercial construction declined 50.65%.

Total assets increased 5.35% to $639.6 million at December 31, 2012, while deposits increased by 6.61% to $530.4 million. DNB's composite cost of funds for the fourth quarter dropped 13 basis points to 0.61%.

Non-performing assets (NPAs) declined to $11.67 million at December 31, 2012 from $13.69 million at September 30, 2012 and were flat compared to December 31, 2011.

DNBF is trading up 2.25% at $15.90 on Thursday. The stock has been trading between $11.30 and $16.75 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageOld Bank's New Breakout has Big Rally Potential

One of my favorite things to see in a long candidate is a pattern of beating Wall Street's earnings read on...

article imageIs The Stock Market's 5-Year Return A Useful Proxy For Valuation?

Tobin’s Q, a market-valuation metric, is back in the news, in part thanks to a widely read Bloomberg read on...

article image4 Dogs To Sell Immediately

Despite the chorus of analysts and investors calling for the long-awaited correction, the market is showing read on...

article imageThe Fed's Magical Mystery Tour

What's going on at the Fed? Notorious dove, Charles Evans of the Chicago Fed, gave a speech in read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

Recent Articles by Balaseshan
More Articles on: Finance



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.