Royal Financial, Inc. Completes Integration Of Park Federal Savings Bank

CHICAGO, Nov. 05, 2016 (GLOBE NEWSWIRE) -- Royal Financial, Inc. (the "Company") (OTCQX:RYFL), the bank holding company for Royal Savings Bank (the "Bank"), announces that the Bank completed the integration of Park Federal Savings Bank ("Park Federal") into the Bank.

"By completing the integration of Park Federal into Royal Savings Bank, all customers now enjoy access to all of the Bank's product and service offerings at all facilities and online.  The Bank's staff performed superbly to complete the integration in only five months, ahead of schedule, and with minimal disruptions to customers," said Leonard Szwajkowski, President and CEO.  "We look forward to expanding our service relationship with existing customers and to attracting new customers in the markets we serve."

The Company acquired two Chicago-area financial institutions in a six month period.  On November 14, 2014, the Company announced the acquisition of PNA Bank.  It closed the acquisition on September 30, 2015 and completed the integration on February 28, 2016.  On January 15, 2016, the Company announced the acquisition of Park Bancorp and its subsidiary, Park Federal.  It closed the acquisition on April 29, 2016, and completed the integration on September 25, 2016.  In both transactions, the Company coordinated the forward-sale of distressed assets, elimination of unwanted balance sheet items, and retention of value-enhancing assets and core deposits to produce substantial improvement in the value realized by the Company's shareholders.

"The PNA Bank acquisition was the first in the Company's one hundred thirty year history, and we are pleased that it was executed and integrated smoothly with minimal customer disruptions.  That acquisition had a transformative impact on the value and structure of the Company," said Mr. Szwajkowski.  "We are also pleased that we were able to follow soon after that first acquisition with the Park Bancorp acquisition, which continued the expansion of our physical network and growth in shareholder value.