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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest Income        
Loans and leases, including fees $ 8,489 $ 6,958 $ 16,405 $ 13,822
Investment securities 956 1,206 1,982 2,540
Deposits in banks 17 17 33 33
Total Interest Income 9,462 8,181 18,420 16,395
Interest Expense        
Deposits 1,169 1,067 2,286 2,107
Short-term borrowings 69 20 135 32
Long-term borrowings 724 677 1,482 1,348
Total Interest Expense 1,962 1,764 3,903 3,487
Net Interest Income 7,500 6,417 14,517 12,908
Provision (credit) for loan and lease losses 57 197 354 409
Net Interest Income after Provision (Credit) for Loan and Lease Losses 7,443 6,220 14,163 12,499
Non-interest Income        
Service charges and fees 339 277 702 593
Net gains on sales of loans and leases 29 0 (21) 0
Income from company owned life insurance 297 188 409 655
Gain on sale of premises and equipment 0 0 73 0
Net gains on the sale of AFS investment securities 276 735 276 1,102
Total other-than-temporary impairment on AFS investment securities 0 (146) 0 (146)
Other income 2 19 15 76
Total Non-interest Income 943 1,073 1,454 2,280
Non-interest Expense        
Employee salaries and benefits 2,573 2,608 5,353 5,326
Occupancy and equipment 719 664 1,486 1,388
Professional and legal fees 451 514 836 906
Net OREO expenses 107 (6) (82) 213
Pennsylvania shares tax expense 169 126 338 239
FDIC and state assessments 198 171 420 344
Communications and data processing 255 244 502 491
(Credit) provision for credit losses on off-balance sheet credit exposures (81) (21) (73) (171)
Directors' fees 123 99 339 240
Insurance 107 93 207 183
Merger expenses 162 0 405 0
Other operating expenses 387 554 815 1,108
Total Expenses 5,170 5,046 10,546 10,267
Income Before Tax Expense 3,216 2,247 5,071 4,512
Income Tax Expense 52 60 52 60
Net Income 3,164 2,187 5,019 4,452
Less Net Income (Loss) Attributable to Noncontrolling Interest 157 153 200 229
Net Income Attributable to Royal Bancshares of Pennsylvania, Inc. 3,007 2,034 4,819 4,223
Less Preferred Stock Series A Accumulated Dividend and Accretion 0 338 0 672
Net Income Available to Common Shareholders $ 3,007 $ 1,696 $ 4,819 $ 3,551
Per Common Share Data        
Net Income - Basic and Diluted $ 0.10 $ 0.06 $ 0.16 $ 0.12