UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 4 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP ( ) Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). 1. Name and Address of Reporting Person WILLIAM S. LATOFF 1110 DEBRAS WAY WEST CHESTER, PA 19382 2. Issuer Name and Ticker or Trading Symbol DNB FINANCIAL CORPORATION DNBF 3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary) 4. Statement for Month/Year AUGUST 2002 5. If Amendment, Date of Original (Month/Year) 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) (X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other (specify below) 7. Individual or Joint/Group Filing (Check Applicable Line) (X) Form filed by One Reporting Person ( ) Form filed by More than One Reporting Person ------------------------------------------------------------------------------------------------------------------------------------ Table I- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned ------------------------------------------------------------------------------------------------------------------------------------ 6 4 5 Owner- Security Acquired (A) or Amount of ship Disposed of (D) Securities Form: 7 2 --------------------------- Beneficially Direct Nature of Transaction 3 (A) Owned at End (D) or Indirect 1 Date Transaction or Price of Issuer's Indirect Beneficial Title of Security (mm/dd/yy) Code Amount (D) Fiscal Year (I) Ownership- -------------------------------------------------------------------------------------------------------------------------------- Common Stock- DNBF 08/26/02 P 470 A 22.25 57,000 D -------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------------- ================================================================================================================================ ------------------------------------------------------------------------------------------------------------------------------------ Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned ------------------------------------------------------------------------------------------------------------------------------------ 2 Number Owner- Conver- of ship sion Deriv- of or 5 6 ative Deriv- 11 Exer- Number of Date Secur- ative Nature cise 3 Derivative Exercisable and 7 8 ities Secur- of Price Trans- Securities Expiration Date Title and Amount of Price Bene- ity: In- of action Acquired (A) (Month/Day/Year) Underlying Securities of ficially Direct direct 1 Deriv- Date 4 or Disposed ---------------- ----------------------- Deriv- Owned (D) or Bene- Title of ative (Month/ Trans- of (D) Date Expira- Amount or ative at End In- ficial Derivative Secur- Day/ action ------------ Exer- tion Number of Secur- of direct Owner- Security ity Year) Code (A) (D) cisable Date Title Shares ity Year (I) ship --------------- ------- --------- --------------------- ---------------- ------------- --------- ---------------- ----- ------- Stock Option 29.00 6/30/1998 A 1,408 12/31/98 6/30/08 DNB Fin.Corp. 1,408 1,408 D to Purchase Common Stock --------------------------------------------------------------------------------------------------------------------------------- 23.32 6/30/1999 A 1,407 12/31/99 6/30/09 DNB Fin.Corp. 1,407 1,407 D Common Stock --------------------------------------------------------------------------------------------------------------------------------- 12.36 6/30/2000 A 1,406 12/31/00 6/30/10 DNB Fin.Corp. 1,406 1,406 D Common Stock --------------------------------------------------------------------------------------------------------------------------------- 14.95 6/30/2001 A 1,405 12/31/01 6/30/11 DNB Fin.Corp. 1,405 1,405 D Common Stock --------------------------------------------------------------------------------------------------------------------------------- 22.55 6/30/2002 A 1,405 12/31/02 6/30/12 DNB Fin.Corp. 1,405 1,405 D Common Stock ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ==================================================================================================================================== Explanation of Responses: Signature of Reporting Person /s/ Bruce E. Moroney for William S. Latoff DATE August 28, 2002