TITLE

Royal Bancshares of Pennsylvania Cutting Costs After '12 Loss

AUTHOR(S)
Cumming, Chris
PUB. DATE
April 2013
SOURCE
American Banker;4/1/2013, Vol. 178 Issue 49, p9
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
86435635

 

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