Royal Financial Inc., the bank holding company for Royal Savings Bank (the Bank), announced that William M. Morfoot was appointed Senior Vice President and Chief Financial Officer of the company and bank on April 19, 2017. Mr. Morfoot is a Certified Public Accountant (CPA) with extensive experience in public accounting and banking. From July 2014 to April 2017, Mr. Morfoot served as Senior Vice President and Chief Accounting Officer for Standard Bank and Trust Company in Hickory Hills, IL.

When the company's and bank's previous CFO resigned on December 30, 2016, President and Chief Executive Officer (CEO) Leonard Szwajkowski assumed added temporary duties as Interim CFO. With Mr. Morfoot's appointment, Mr. Szwajkowski resumes full-time service as the company's and bank's President and CEO.