DOWNINGTOWN, Pa., Feb. 27, 2014 (GLOBE NEWSWIRE) -- DNB Financial Corporation (Nasdaq:DNBF), parent company of DNB First, National Association, the oldest national bank in the greater Philadelphia region, announced that veteran banker, Vince Liuzzi has joined the company. He will serve as Executive Vice President, Chief Banking Officer, reporting directly to William S. Latoff, Chairman and Chief Executive Officer.
Liuzzi will be directly responsible for leading the bank's retail, consumer and mortgage lending, operations, and marketing lines of business. The creation of this new executive leadership role is part of an overall strategy designed to enhance the bank's profitability, market share, and growth plans. Mr. Liuzzi joins the bank's current executive team: William J. Hieb, President and Chief Risk and Credit Officer; Gerald F. Sopp, EVP, Chief Financial Officer; and Albert J. Melfi Jr., EVP, 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. 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," said William S. Latoff, Chairman and Chief Executive Officer.
Prior to joining DNB First, Liuzzi served as Executive Vice President, Region President for Wells Fargo & Company's 165-branch community banking network in greater Philadelphia and Delaware, overseeing sales, service, public and community relations, consumer activities, small business services, and wealth management. During this period, he directed the conversion and integration activities of Wachovia Bank's regional operations following the acquisition of the bank by Wells Fargo. He joined Wells Fargo in 1996 and held key leadership positions in several markets across the country. Before relocating to the greater Philadelphia area, he served as Senior Vice President and Region President of Wells Fargo's 60-branch network in the San Fernando Valley region in California.
"We are thrilled to welcome Vince to the DNB First executive management team," said Latoff. "He brings extensive experience and knowledge of the greater Philadelphia markets, and has forged strong relationships throughout this region with community leaders in government, civic and charitable organizations, and business."
In addition to his accomplishments in the banking field, Liuzzi has been actively involved in supporting the community, serving as a director with organizations, including the Greater Philadelphia Chamber of Commerce, Ronald McDonald House, Catholic Social Services, and the Greater Philadelphia Salvation Army. He has also chaired two local United Way campaigns. He was honored for his dedication to community service by being named as the 2012 recipient of the Salvation Army's "Doing the Most Good" community leadership award. He was also named "Man of the Year" by the Los Angeles Shelter for the Homeless for his work in helping provide services to the homeless.
DNB Financial Corporation is a bank holding company whose bank subsidiary, DNB First, National Association, is a community bank headquartered in Downingtown, Pennsylvania with 13 locations. DNB First, which was founded in 1860, provides a broad array of consumer and business banking products, and offers brokerage and insurance services through DNB Investments & Insurance, and investment management services through DNB Investment Management & Trust. DNB Financial Corporation's shares are traded on Nasdaq's Capital Market under the symbol: DNBF. We invite our customers and shareholders to visit our website at http://www.dnbfirst.com. DNB's Investor Relations site can be found at http://investors.dnbfirst.com/.
DNB Financial Corporation (the "Corporation"), may from time to time make written or oral "forward-looking statements," including statements contained in the Corporation's filings with the Securities and Exchange Commission (including this press release), in its reports to stockholders and in other communications by the Corporation, which are made in good faith by the Corporation pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended.
These forward-looking statements include statements with respect to the Corporation's beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, that are subject to significant risks and uncertainties, and are subject to change based on various factors (some of which are beyond the Corporation's control). The words "may," "could," "should," "would," "will," "believe," "anticipate," "estimate," "expect," "intend," "plan" and similar expressions are intended to identify forward-looking statements. The following factors, among others, could cause the Corporation's financial performance to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements: the strength of the United States economy in general and the strength of the local economies in which the Corporation conducts operations; the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; the recent downgrade, and any future downgrades, in the credit rating of the U.S. Government and federal agencies; inflation, interest rate, market and monetary fluctuations; the timely development of and acceptance of new products and services of the Corporation and the perceived overall value of these products and services by users, including the features, pricing and quality compared to competitors' products and services; the willingness of users to substitute competitors' products and services for the Corporation's products and services; the success of the Corporation in gaining regulatory approval of its products and services, when required; the impact of changes in laws and regulations applicable to financial institutions (including laws concerning taxes, banking, securities and insurance); technological changes; acquisitions; changes in consumer spending and saving habits; the nature, extent, and timing of governmental actions and reforms, including the rules of participation for the Small Business Lending Fund (SBLF), a U.S. Treasury Department program; and the success of the Corporation at managing the risks involved in the foregoing.
The Corporation cautions that the foregoing list of important factors is not exclusive. Readers are also cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date of this press release, even if subsequently made available by the Corporation on its website or otherwise. The Corporation does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Corporation to reflect events or circumstances occurring after the date of this press release.
For a complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K, as well as any changes in risk factors that we may identify in our quarterly or other reports filed with the SEC.
Gerald F. Sopp CFO/Executive Vice-President 484.359.3138
DNB Financial Corp
Downingtown, Pennsylvania, UNITED STATES
Gerald F. Sopp CFO/Executive Vice-President 484.359.3138
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