Company Overview of Royal Savings Bank
Royal Savings Bank, a chartered community bank, provides personal and commercial banking services in Illinois. The company’s personal banking services include checking accounts, savings accounts, certificates of deposit, individual retirement accounts, loans, and online banking; and commercial banking services comprise checking accounts, savings accounts, certificates of deposit, commercial loans, and cash management. It also provides mortgages and home equity services. The company was founded in 1887 and is based in Chicago, Illinois. Royal Savings Bank operates as a subsidiary of Royal Financial Inc.
9226 South Commercial Avenue
Chicago, IL 60617
Founded in 1887
Key Executives for Royal Savings Bank
Chief Executive Officer, President, Director, Chief Executive Officer of Royal Financial, Inc and President of Royal Financial, Inc
Chief Financial Officer, Senior Vice President, Chief Financial Officer of Royal Financial, Inc and Senior Vice President of Royal Financial, Inc
Senior Vice President of Operations
Advisory Member of the Board and Advisory Member of the Board of Royal Financial, Inc
Compensation as of Fiscal Year 2015.
Royal Savings Bank Key Developments
Royal Savings Bank Opens New Micro-Branch in a Large Neighborhood Grocery Store
Oct 30 14
Royal Savings Bank opened a new micro-branch in a large neighborhood grocery store, which is close to the bank's current southeast location. The bank said the purchase contract for the existing branch sale is in the final due diligence phase. Upon closure of the outdated branch location, expected to occur in the third fiscal quarter, annual cost savings are estimated to be $150,000.
Royal Savings Bank Announces Branch Relocation and Modernization
Jul 11 14
Royal Financial Inc., incorporated under the laws of Delaware on December 15, 2004, for the purpose of serving as the holding company of Royal Savings Bank (the Bank), announced that the Bank will relocate the branch office that serves Chicago's East Side community from its current location in a ninety year-old building to a vibrant, new 'micro-branch' approximately one mile away. The new branch will operate space leased from a neighborhood grocery. The Bank expects to open the new branch in late Summer 2014, improve customer service with newly trained client advisors, and provide increased access to bank facilities. The operating lease has a five-year term with two five-year renewal options. The Bank also expects this relocation to decrease operating expenses, avoid major capital expenditures that may be required in the aging current building, and require a lease build-out of approximately $200,000.
Royal Financial, Inc Announces Termination of Memorandum of Understanding with Federal Deposit Insurance Corporation and the Illinois Department of Financial and Professional Regulation
Nov 22 13
Royal Financial Inc. announced the termination of the Memorandum of Understanding applicable to its subsidiary bank, Royal Savings Bank, with the Federal Deposit Insurance Corporation and the Illinois Department of Financial and Professional Regulation. The MOU was originally entered into on June 15, 2010, then terminated and updated on June 18, 2013, and then terminated on November 19, 2013.
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