Royal Financial, Inc., Announces Appointment of CFO and COO

CHICAGO, March 10, 2020 (GLOBE NEWSWIRE) -- Royal Financial, Inc. (the “Company”) (OTCQX: RYFL), the bank holding company for Royal Savings Bank (the “Bank”), announces the promotions of Toni Gonzalez to Senior Vice President and Chief Operating Officer of the Company and the Bank and Colleen Thomiszer to Senior Vice President and Chief Financial Officer of the Company and Bank.

Ms. Gonzalez has led Operations and Technology at the Company and Bank since 2010. Since joining the Company in 2001 with an initial focus on operations and technology matters, Ms. Gonzalez’s portfolio of responsibilities has steadily increased to include Bank Secrecy Act (BSA), Anti-Money Laundering (AML), regulatory compliance, Information Technology (including cybersecurity), and project management of information systems conversions and business process integration of the Bank’s four acquisitions and branch purchases.  Since 2013, she has served as the Bank’s BSA/AML Officer.  Ms. Gonzalez is enrolled in the Graduate School of Banking program at the University of Wisconsin – Madison.

Ms. Thomiszer has served the Company and Bank as the Accounting Officer and Controller since 2017.  Since joining the Company as Staff Accountant in 2014 following her graduation from Saint Xavier University with a Bachelor’s Degree in Business Administration, with core  concentrations in Accounting and Finance, Ms. Thomiszer’s portfolio of responsibilities has steadily increased to include accounting operations management, business process improvement, reporting controls and preparation, external auditor support, and accounting for and integrating the Bank’s and Company’s acquisition and branch purchases.  She also has served as the Secretary of the Company since 2018 expanding from her service as Recording Secretary from 2014 to 2018.

Since August 31, 2017, President and Chief Executive Officer (CEO) Leonard Szwajkowski has served the Company and Bank with added responsibility as Interim CFO from which he is relieved with the appointment of Ms. Thomiszer as CFO.

About Royal Financial, Inc.

Royal Savings Bank is a federally-insured financial institution that offers a range of checking and savings products and a full line of home and commercial lending solutions.  Royal Savings Bank has been operating continuously since 1887, and currently has nine branches in Chicagoland and lending centers in Homewood and St. Charles, Illinois. Visit Royal Financial, Inc., and Royal Savings Bank at: .

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Forward Looking Statements: This press release may include forward-looking statements.  These forward-looking statements, which are based on certain assumptions and describe our future plans, strategies, and expectations, can generally be identified by use of the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions.  Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain and actual results may differ materially from those predicted in such forward-looking statements.  Factors that could have a material adverse effect on the operations and future prospects of the Company and the Bank include, but are not limited to: changes in interest rates; the economic health of the local real estate market; general economic conditions; continued credit deterioration in our loan portfolio that would cause us to further increase our allowance for loan losses; legislative/regulatory changes; monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board; the quality or composition of the loan and securities portfolios; demand for loan products in our market areas; deposit flows; competition; demand for financial services in our market areas; and changes in accounting principles, policies, and guidelines.  These risks and uncertainties should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements.

Contact:  Mr. Leonard Szwajkowski

President and CEO

Royal Financial, Inc.

Telephone:  (773) 382-2111

E-mail: