CHICAGO, Nov. 08, 2016 (GLOBE NEWSWIRE) -- Royal Financial, Inc. (the "Company") (OTCQX:RYFL), incorporated under the laws of Delaware on December 15, 2004, for the purpose of serving as the holding company of Royal Savings Bank (the "Bank"), announced the audited earnings for the fiscal year ended 2016. For the three months ended June 30, 2016, the Company reported a net loss $16,000, or -$.01 per common share, compared to $477,000, or $.19 per common share, for the three months ended June 30, 2015. The decrease in net income is primarily the result of recording a $1.0 million valuation allowance against the expiring Illinois Net Loss Deduction (NLD) carryforwards acquired in bank acquisitions during the fiscal year. For the fiscal year ended June 30, 2016, the Company reported net income of $5.4 million, or $2.15 per common share, compared to $941,000, or $.38 per common share, for the fiscal year ended June 30, 2015. The increase in net income for the fiscal year ended June 30, 2016 was primarily the result of two acquisitions that were completed within the fiscal year. The acquisition of PNA Bank and Park Federal Bancorp and Park Federal Savings Bank were finalized on September 30, 2015 and April 29, 2016, respectively. Comparison of Financial Condition at June 30, 2016 and June 30, 2015 As a result of the mergers in the fiscal year, the Company's total assets increased $185.5 million, or 156.5%, to $304.0 million at June 30, 2016, from $118.5 million at June 30, 2015. Cash and cash equivalents increased $4.0 million, or 172.8%, to $6.2 million at June 30, 2016, from $2.3 million at June 30, 2015. Investments in FDIC insured certificates of deposits increased $2.6 million, or 100%, at June 30, 2016, as the assets were acquired in one of the acquisition transactions completed in the fiscal year.