Royal Bancshares of Pennsylvania Cutting Costs After '12 Loss

Cumming, Chris
April 2013
American Banker;4/1/2013, Vol. 178 Issue 49, p9
Trade Publication
The article focuses on Royal Bancshares of Pennsylvania which plans to cut discretionary spending and eliminate 138 jobs after reporting an $8 million loss in fourth-quarter 2012. The article notes Royal paid the U.S. Justice Department a $2 million fine after its Crusader Servicing Corp. unit was accused of wrongdoing at tax-lien auctions. It also notes Royal overhauled its management and hired F. Kevin Tylus as its chief executive officer.


Related Articles

  • Royal Bancshares Posts First Quarterly Profit Since 2008. Cumming, Chris // American Banker;5/ 3/2013, Vol. 178 Issue F317, p12 

    The article looks at the financial performance of Royal Bancshares of Pennsylvania which reported earnings of $118,000 in first-quarter 2013. The article mentions Royal Bancshares' net interest income, net interest margin, noninterest expenses, noninterest income, nonperforming loans, and credit...

  • Settlement Pushes Royal Bancshares in Pa. to Loss. Cumming, Chris // American Banker;8/16/2013, Vol. 178 Issue F332, p6 

    The article focuses on Royal Bancshares of Pennsylvania which lost $803,000 in second-quarter 2013. Royal Bancshares' dismissal from a lawsuit related to a collateralized debt obligation (CDO) transaction that was filed by Lehman Brothers Special Financing firm in July 2012 is noted. The article...

  • Royal of Pa. Promotes Three, Needs CEO. Peters, Andy // American Banker;10/2/2012, Vol. 177 Issue 152, p16 

    The article announces Royal Bancshares of Pennsylvania promoted Robert Kuehl to chief administrative officer, Michael Thompson to chief financial officer, and Mary Kay Shea to chief accounting officer, effective September 24, 2012.

  • Royal in Pennsylvania Discloses Risk Chief's Retirement. Davis, Paul // American Banker;12/15/2014, Vol. 179 Issue 191, p00 

    The article reports on Royal Bancshares of Pennsylvania's announcement of the retirement of chief administrative officer Robert Kuehl at the end of 2014.

  • Royal in Pennsylvania to Sell $14M in Stock. Davis, Paul // American Banker;3/12/2014, Vol. 179 Issue 38, p13 

    The article states that Royal Bancshares of Pennsylvania plans to sell about $14 million in stock through private placements to Emerald Advisors firm, to an institutional investor group, and to Royal's officers and directors, according to a March 11, 2014 announcement.

  • Who's News.  // njbiz;2/20/2006, Vol. 19 Issue 8, p22 

    Presents information on several executive appointments in New Jersey as of February 2006. F. Kevin Tylus at Yardville National Bank; Andrew Hipolit at Maser Consulting; Christopher Tama at CommonHealth.

  • IBM profits up despite sales decline.  // MarketWatch: Technology;Sep2005, Vol. 4 Issue 9, p15 

    This article reports that due to the sale of its PC business and an antitrust settlement with Microsoft Corp., and despite restructuring charges relating to layoffs and other reorganizations, International Business Machines Corp. (IBM) was able to pull off a decent second quarter. The settlement...

  • Royal in Pa. Turns to Retail Banking, Millennials to Complete Comeback. Reosti, John // American Banker;12/3/2014, Vol. 179 Issue 185, p1 

    The article discusses the Royal Bancshares of Pennsylvania Inc. (Royal) firm's decision in 2014 to address several of the issues that brought the banking company close to failure a few years ago, focusing on the millennial market and the winding down of the firm's tax-lien and syndicated-lending...

  • FDIC '05 Budget: Funding Decrease For Supervision. Bergman, Hannah // American Banker;12/10/2004, Vol. 169 Issue 236, p3 

    Focuses on the Federal Deposit Insurance Corp. and its 2005 budget. Data for the budget that is $5.8 million less for the division of supervision and consumer protection; The reason for the drop in the investment portion of the budget; Comments of Tibby Ford, FDIC spokeswoman, about the budget...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics