DNB Financial in Downingtown, Pa., said its chairman and chief executive, William Latoff, has died. He was 67.

Latoff became a director of DNB in 1998 and had been its CEO since 2004, according to a Monday news release. He was also chairman and CEO of the $742 million-asset DNB First, the banking subsidiary of DNB Financial.

Latoff was also past chairman of the Chester County Industrial Development Authority and chairman of the nominating advisory committee of the Federal Reserve Bank of Philadelphia.

Additionally, Latoff was chairman and president of Brandywine Automotive Group, which operated Land Rover and Jaguar dealerships in the Philadelphia area.

DNB's board will meet on an expedited basis to implement its succession plan, the company said in the release.

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