Royal Bank America Parent Co. Announces 2nd Quarter Earnings and Decision to Temporarily Forego...

NARBERTH, PA--(MARKET WIRE)--Jul 18, 2008 -- Royal Bancshares of Pennsylvania, Inc. ("Royal") (NasdaqGM:RBPAA - News ), the holding company for Royal Bank America and Royal Asian Bank, announced earnings for the second quarter of 2008. Net income for the three months ended June 30, 2008 was $152,000 (after adding an additional $4.5 million pre-tax to its provision for loan losses for the quarter) or $0.01 basic and diluted earnings per share, compared to net income of $4.0 million or $0.29 basic and diluted earnings per share for the same period in 2007. Net income for the six months ended June 30, 2008 was $1.2 million, as compared to $6.3 million for the same period in 2007. Net interest margin YTD improved to 3.31% at June 30, 2008 as compared to 2.97% at June 30, 2007. Consolidated total assets ended June 30, 2008 were... [read full story]