Royal Financial Inc. announced that effective August 31, 2017, William M. Morfoot resigned as SVP and Chief Financial Officer of the Company and the Bank for personal reasons. Mr. Morfoot was appointed April 19, 2017. There were no disagreements that led to Mr. Morfoot's resignation, and no contractual payments were made.

On September 1, 2017, Leonard Szwajkowski, who currently serves as President and Chief Executive Officer of the Company and Bank, reassumed the added duties of Interim CFO.