Shares of Royal Bancshares of Pennsylvania Inc. have fallen more than 11% since the $1.3 billion-asset Narberth company said it would delay reporting its third-quarter earnings, because it has yet to determine the amount of reserves it would need to cover its loan losses.
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The two-bank holding company said in a Securities and Exchange Commission filing Tuesday that a review of its loan portfolio is not yet completed. It did not say when it would report its third-quarter earnings. For the second quarter, Royal reported that nonaccrual loans jumped 321% from a year earlier, to $29.1 million. Its earnings declined 6.5%, to $4.3 million. The stock was trading at $14.84 a share late Thursday.
