St. Charles Newswire
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Royal Financial, Inc. and Park Bancorp, Inc. jointly announced today that they have entered into a definitive agreement and plan of merger pursuant to which Park Bancorp, the holding company and parent of Park Federal Savings Bank will merge with and into Royal Financial, the holding company for Royal Savings Bank . Park Federal, which operates three banking offices in Chicago and one in Westmont, Illinois, will merge with and into Royal Savings. Comment?
Royal Financial, Inc. , parent company of Royal Savings Bank , announced today that it has received all regulatory approvals required for the previously announced acquisition and merger of PNA Bank into Royal Savings Bank. Royal expects to close the transaction on September 30, 2015. Comment?
Royal Financial, Inc. , parent company of Royal Savings Bank , today announced that the OTC Markets Group recently added Royal to its OTCQX Banks Index , effective immediately. In 2014, the OTC Markets Group expanded its OTCQX Best Marketplace by creating OTCQX for Banks to provide a public market for well-managed, strongly capitalized U.S. regional and community banks. Comment?
Royal Financial, Inc. today announced the signing of a definitive agreement with a New York based asset management firm to sell $29.1 million of distressed assets consisting of $25.5 million in distressed assets currently owned by PNA Bank and $3.6 million in distressed and other assets currently owned by Royal Financial and/or its subsidiary, Royal Savings Bank . In November 2014, the Company announced that it had entered into an agreement to purchase PNA Bank subject to the approval of the United States Bankruptcy Court and both banks' banking regulators. Comment?
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