XML 75 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Interest income      
Loans and leases, including fees $ 25,266 $ 29,651 $ 42,643
Investment securities available for sale 6,677 9,645 14,464
Deposits in banks 38 78 154
Federal funds sold 0 3 1
Total Interest Income 31,981 39,377 57,262
Interest expense      
Deposits 5,898 8,950 16,922
Short-term borrowings 309 149 3,835
Long-term borrowings 3,692 4,987 5,215
Obligations related to real estate owned via equity investments 0 0 22
Total Interest Expense 9,899 14,086 25,994
Net Interest Income 22,082 25,291 31,268
Provision for loan and lease losses 5,997 7,728 22,140
Net interest income (loss) after provision 16,085 17,563 9,128
Other income      
Gains on sales of loans and leases 2,057 337 666
Service charges and fees 1,218 1,128 1,266
Net gains on the sale of AFS investment securities 1,030 1,782 1,290
Income from bank owned life insurance 553 391 379
Net gains on sales of other real estate owned 363 1,638 1,019
Income related to real estate owned via equity investments 0 478 564
Income from real estate joint ventures 0 1,750 0
Gain on sale of security claim 0 0 1,656
Gains on sale of premises and equipment related to real estate owned via equity investments 0 0 667
Other income 747 1,110 737
Total other-than-temporary impairment losses on investment securities (2,359) (1,796) (566)
Less portion of loss recognized in other comprehensive loss 0 0 (87)
Net impairment losses recognized in earnings (2,359) (1,796) (479)
Total Other Income 3,609 6,818 7,765
Other expenses      
Employee salaries and benefits 11,576 11,013 11,626
OREO impairment charge 6,741 5,522 7,374
Professional and legal fees 4,180 4,137 4,237
Occupancy and equipment 2,192 2,328 3,216
Impairment of loans held for sale 2,002 340 0
Department of Justice fine 2,000 0 0
OREO expenses 1,660 1,724 1,090
Pennsylvania shares tax 1,148 1,123 1,320
FDIC and state assessments 1,056 1,990 3,047
Loan collection expense 465 901 1,446
Directors fees 401 339 355
Impairment related to real estate owned via equity investments 0 0 2,600
Impairment of real estate joint ventures 0 0 1,552
Expenses related to real estate owned via equity investments 0 0 529
Other operating expenses 2,903 2,652 2,351
Total Other Expenses 36,324 32,069 40,743
Loss Before Income Taxes (16,630) (7,688) (23,850)
Income tax expense (benefit) 0 0 0
Net Loss (16,630) (7,688) (23,850)
Less net (loss) income attributable to noncontrolling interest (1,005) 875 243
Net loss attributable to Royal Bancshares of Pennsylavania, Inc. (15,625) (8,563) (24,093)
Less Preferred stock Series A accumulated dividend and accretion 2,038 2,003 1,970
Net Loss to Common Shareholders $ (17,663) $ (10,566) $ (26,063)
Per common share data      
Net loss per share - basic and diluted (in dollars per share) $ (1.33) $ (0.8) $ (1.97)