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Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Interest income        
Loans and leases, including fees $ 7,347 $ 11,331 $ 15,441 $ 22,450
Investment securities available-for-sale 2,623 3,804 5,082 8,273
Deposits in banks 28 38 49 73
Federal funds sold 2 0 2 0
Total Interest Income 10,000 15,173 20,574 30,796
Interest expense        
Deposits 2,549 4,472 5,274 9,479
Short-term borrowings 40 1,056 84 2,336
Long-term borrowings 1,251 1,306 2,501 2,608
Obligations related to real estate owned via equity investments 0 5 0 19
Total Interest Expense 3,840 6,839 7,859 14,442
Net Interest Income 6,160 8,334 12,715 16,354
Provision for loan and lease losses 3,056 4,290 5,140 6,193
Net Interest Income after Provision for Loan and Lease Losses 3,104 4,044 7,575 10,161
Other income        
Service charges and fees 252 285 509 576
Income from bank owned life insurance 91 93 186 188
Income related to real estate owned via equity investments 495 583 545 780
Gains on sales of loans and leases 6 124 18 628
Income from real estate joint ventures 0 0 250 0
Net gains on sales of other real estate owned 900 174 1,294 331
Net gains on the sale of AFS investment securities 1,093 422 1,101 588
Other income 331 202 629 273
Total other-than-temporary impairment losses on investment securities (502) (165) (502) (341)
Portion of loss recognized in other comprehensive loss 121 0 121 0
Net impairment losses recognized in earnings (381) (165) (381) (341)
Total Other Income 2,787 1,718 4,151 3,023
Other expenses        
Employee salaries and benefits 2,707 2,793 5,361 5,754
OREO impairment 2,747 960 3,140 1,762
Professional and legal fees 1,276 1,130 2,347 1,933
Occupancy and equipment 572 788 1,177 1,587
OREO and loan collection expenses 535 670 1,177 1,358
FDIC and state assessments 561 765 1,086 1,629
Pennsylvania shares tax 312 370 624 739
Impairment on loans held for sale 304 0 304 0
Directors' fees 92 98 168 179
Expenses related to real estate owned via equity investments 53 140 101 265
Stock option expense (benefit) 23 50 46 (22)
Impairment of real estate joint ventures 0 1,552 0 1,552
Other operating expenses 603 725 1,223 1,358
Total Other Expenses 9,785 10,041 16,754 18,094
Loss Before Taxes (3,894) (4,279) (5,028) (4,910)
Income taxes 0 0 0 0
Net Loss (3,894) (4,279) (5,028) (4,910)
Less net income attributable to noncontrolling interest 331 259 708 701
Net loss attributable to Royal Bancshares of Pennsylvania, Inc. (4,225) (4,538) (5,736) (5,611)
Less Preferred stock Series A accumulated dividend and accretion 499 491 997 981
Net loss available to common shareholders $ (4,724) $ (5,029) $ (6,733) $ (6,592)
Per common share data        
Net loss - basic and diluted (in dollars per share) $ (0.36) $ (0.38) $ (0.51) $ (0.50)