Royal Bancshares of Pennsylvania Inc. reported on Thursday a fourth-quarter loss of $10.1 million and that it is has entered into a written agreement with the Federal Reserve Bank of Philadelphia.
The $1.29 billion-asset company in Narberth, Pa., narrowed its loss by 63% from a year earlier. It reported a loan-loss provision of $7.1 million, down 18%. Nonaccrual loans totaled $73.7 million, down 14%. It said the reduction was driven by paydowns, chargeoffs and loans moving into the other real estate owned category.