Royal Bancshares Ditches Last of Its TARP Baggage, Looks to Future Growth

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Royal Bancshares of Pennsylvania is rowing closer to sunny shores this week. After the Narberth financial institution first took on water back in 2009 and endured 19 straight quarters of drifting, it has finally bailed the last of its $30.4 million in principal obligations and additional dividends to the federal Troubled Asset Relief Program.

Royal Bancshares just redeemed the final outstanding shares.

Royal Bank CEO Kevin Tylus
Royal Bancshares CEO Kevin Tylus

“It removes $40 million in debt from the bank’s balance sheet and the pressure of a 9 percent dividend,” CEO Kevin Tylus said in a Philadelphia Business Journal report by Jeff Blumenthal.

Tylus has steered Royal Bancshares’ turnaround since 2013, already opening two new loan production offices, in Bala Cynwyd and Princeton, N.J., as well as relocating branches in Villanova and Willow Grove.

Next up for the $800 million-asset bank is an extensive renovation project in its charter Narberth branch, which will lead to a grand reopening in January.

Read more about the troubled waters Royal Bancshares has sailed to get to this point in the Philadelphia Business Journal here.

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