DNB Financial Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Reports Unaudited Consolidated Net Charge-Offs for the Fourth Quarter Ended December 31, 2013
For the year, the company's net interest income was $20,324,000 against $21,974,000 a year ago. Income before income taxes was $5,139,000 against $7,345,000 a year ago. Net income was $3,919,000 against $5,239,000 a year ago. Net income available to common stockholders was $3,771,000 or $1.36 diluted per share against $4,907,000 or $1.79 diluted per share a year ago. ROAA and ROAE for the year ended December 31, 2013 were 0.60% and 6.75%, respectively. Book value per common share was $16.55 at December 31, 2013 compared with $16.08 at December 31, 2012. Tangible book value per common share increased to $16.47 at December 31, 2013 compared with $15.98 per common share a year earlier.
For the quarter, the company's net charge-offs to average loans was 0.06% against recoveries of 0.10% a year ago.