Welcome!

News Feed Item

Royal Bancshares of Pennsylvania, Inc. Reports Second Quarter Profit and Exits TARP

Momentum Continues With Loan Growth, New Products and Improved Efficiency; New Shareholders and Private Placement Fuel TARP Exit

NARBERTH, PA--(Marketwired - July 22, 2014) - Royal Bancshares of Pennsylvania, Inc. ("Company") (NASDAQ: RBPAA), parent company of Royal Bank America ("Royal Bank"), is pleased to report net income of $1.4 million, or earnings of $0.04 per diluted common share, for the second quarter of 2014 compared to a net loss of $803,000, or a loss of $0.10 per diluted common share, for the second quarter of 2013. For the first six months of 2014, the Company earned net income of $2.9 million, or earnings of $0.10 per diluted common share, compared to a net loss of $685,000, or a loss of $0.13 per diluted common share, for the first six months of 2013.

Second quarter financial highlights include:

  • Improvement in net income of $2.2 million from the comparable 2013 period.
  • Net interest margin grew 12% from the comparable period in 2013.
  • Return on average assets and return on average equity were 0.75% and 10.34%, respectively.
  • Increase in net interest income of 13% from the comparable 2013 period.
  • Non-interest expense reduction of 34% from the equivalent period in 2013.
  • Loan growth was 6% from March 31, 2014.

Financial highlights for the first six months of 2014 include:

  • Improvement in net income of $3.6 million from the comparable 2013 period.
  • Net interest margin grew 15% from the comparable period in 2013.
  • Return on average assets and return on average equity were 0.79% and 11.13%, respectively.
  • Increase in net interest income of 14% from the comparable 2013 period.
  • Non-interest expense reduction of 24% from the equivalent period in 2013.
  • Loan growth was 3% from December 31, 2013.

Financial results reflect continued momentum in core business

The Company's Chief Executive Officer Kevin Tylus noted, "The announcement today of our second quarter results further validates our efforts in repositioning and rebranding the Company and Royal Bank. Commercial and consumer loan growth, stronger credit quality of the new loans and our expense monitoring efforts have combined to improve core earnings. The redesigned cash management suite is attaining and retaining commercial relationships. We are excitedly anticipating the debut of our new tech-based Northern Liberties branch, which will feature an in-lobby state of the art assisted service teller machine. Our redesigned products and contemporary technology are the future platform for enhanced banking convenience for commercial, consumer and retail customers. Also we are extremely pleased with the outcome of our TARP auction which replaced $11.6 million of preferred equity with common tangible equity that was primarily acquired by new shareholders as part of the recent private placement."

The $2.2 million quarterly improvement was mainly related to the following items:

  • Net interest income grew $641,000, or 13%.
  • Professional and legal fees dropped $419,000, or 52%.
  • Credit related expenses decreased $153,000, or 21%.
  • Salaries and benefits declined $241,000, or 9%.
  • The 2013 quarter included a legal settlement expense related to a tax lien subsidiary, of which the Company's share was $990,000.

The $3.6 million improvement for the first six months of 2014 from the same period in 2013 was mainly related to the following items:

  • Net interest income grew $1.4 million, or 14%.
  • Professional and legal fees dropped $476,000, or 32%.
  • Salaries and benefits declined $650,000, or 12%.
  • Credit related expenses decreased $433,000, or 33%.
  • Credit for loan and lease losses improved $300,000 due to the continued positive progress in loan credit quality.
  • As mentioned previously, 2013 included a legal settlement expense related to a tax lien subsidiary, of which the Company's share was $990,000.

Partially offsetting these noteworthy items for the quarter and six months ended June 30, 2014 were increases of $75,000 and $135,000, respectively, in occupancy and equipment expenses and increases of $57,000 and $128,000 in marketing and advertising expenses. The Company's leasing subsidiary positively contributed to the quarterly and year-to-date financial results.

Loans and leases held for investment at June 30, 2014 totaled $377.8 million compared to $366.5 million at December 31, 2013. The modest net loan growth of $11.3 million was directly impacted by an approximate $12.0 million decline in classified loans due to payoffs and pay downs coupled with payoffs of out of market loans. The commercial loan pipeline continues to strengthen. Investment securities available for sale decreased $27.6 million while total cash and cash equivalents grew $11.3 million from the levels at December 31, 2013. While deposits declined $2.1 million from $529.0 million at December 31, 2013, the new retail strategy launch improved the deposit composition. Total checking, money market and savings accounts improved $11.7 million while certificates of deposit declined $13.8 million. Total borrowings decreased $10.2 million since December 31, 2013.

Net Interest Margin

For the second quarter of 2014, the net interest margin of 3.25% grew 35 basis points from the equivalent quarter in 2013 and 13 basis points from the quarter ended December 31, 2013. For the six months ended June 30, 2014 the net interest margin was 3.24% compared to 2.82% for the same period in 2013. Net interest income increased $641,000 and $1.4 million for the three and six months ended June 30, 2014, respectively, from their comparable periods in 2013. The quarterly and yearly increase in net interest income was primarily attributed to an increase in the interest income earned on investments coupled with a reduction in interest expense. Quarter over quarter average interest-bearing deposits declined $4.7 million, of which $5.6 million was in higher-cost time deposits, while demand deposits rose $5.8 million. For the quarter ended June 30, 2014, average interest-earning assets increased $5.3 million from the quarter ended June 30, 2013 and included a 24 basis point enhancement in the average yield on such assets. Average loans and investments grew $6.9 million and $4.9 million, respectively. Average cash declined $6.5 million as it was deployed into loans and investments. For the second quarter of 2014, the average rate paid on interest-bearing liabilities was 1.09% compared to 1.20% for the 2013 comparable quarter.

For the six months ended June 30, 2014 average interest-earning assets declined $4.8 million from the same period in 2013; however, the average yield on such assets grew 28 basis points. Year over year average loans increased $10.1 million while average cash and investments declined $7.8 million and $7.1 million primarily to fund the growth in loans. Despite the decline in average investments, the average yield on such investments grew 87 basis points.

Asset quality continues improvement

Nonperforming loans were $9.1 million, $10.2 million and $17.8 million at June 30, 2014, December 31, 2013 and June 30, 2013, respectively, and the ratio of nonperforming loans to total loans was 2.4%, 2.8%, and 4.8% for the same periods. Improved asset quality led to a reduction in credit quality expenses of $153,000 in the second quarter of 2014 when compared to the second quarter of 2013 and a reduction of $433,000 for the first six months of 2014 from the comparable period in 2013. Additionally for the first half of 2014, the credit for loan and lease losses increased $300,000 from the first half of 2013. During the first six months of 2014, classified and impaired loans declined nearly $20 million due to pay downs, payoffs and upgrades. Non-performing assets were $18.9 million, $19.8 million and $27.6 million at June 30, 2014, December 31, 2013, and June 30, 2013, respectively.

Private placement and shareholder rights offering

On June 20, 2014, the United States Department of Treasury ("Treasury") announced that it had priced auctions of preferred stock of six institutions, including all of the 30,407 shares of the Fixed Rate Cumulative Perpetual Preferred Stock, Series A (the "Series A Preferred Stock"), issued by the Company to the Treasury in 2009. The Series A Preferred Stock was priced in the auction at $1,207.11 per share for all 30,407 shares of Series A Preferred Stock outstanding. As previously disclosed, the Company was a bidder in the auction and was allocated 11,551 shares of Series A Preferred Stock for repurchase at the clearing price of $1,207.11. Closing for the sale of the Series A Preferred Stock by Treasury, including the repurchase of 11,551 shares of Series A Preferred Stock by the Company, occurred on July 2, 2014. To fund the purchase of the Series A Preferred Stock, the Company sold 11,267,037 shares of its Class A common stock in a private placement transaction at a price of $1.20 per share. As a result of the successful participation in the auction, the Company is currently conducting a shareholder rights offering to shareholders of record as of April 7, 2014. The private placement received shareholder approval in 2013 and both the private placement and shareholder rights offering bring new shareholders and additional capital to the Company.

As described in the prospectus relating to the shareholder rights offering, the Company has elected to extend the expiration date of the rights offering to 5:00 p.m. Eastern Time on August 8, 2014. Shareholders of the Company who hold their shares through a broker, dealer, bank or other nominee should contact their nominee as soon as possible if they wish to participate in the rights offering and have not been contacted by their broker, dealer, bank or other nominee in connection with the rights offering.

Introduction of Royal Bank America's new logo

The Company has made significant progress in rebranding Royal Bank, revitalizing its retail footprint, and growing customer relationships. Additionally, with the celebration of Royal Bank America's 50th anniversary, management realized that Royal Bank's logo needed to be modernized to reflect this evolution. The crown contained in the new logo represents the bank, itself, and its four stakeholders: our customers, our shareholders, the communities we serve, and our employees. With the unveiling of the new logo, Royal Bank also revealed an updated website, www.royalbankamerica.com. The new site features a sleek, more modern design with a focus on usability and mobility. Responsive design elements address the consumer's desire for "any time/anywhere/any device" access and new features added in this and recent releases add functionality usually found only at much larger institutions, including a secure online home equity loan application and direct customer service connections.

Royal Bancshares of Pennsylvania, Inc.
Royal Bancshares of Pennsylvania, Inc., headquartered in Narberth, Pennsylvania, is the parent company of Royal Bank America, which for the past 50 years has played a lead role in the growth and development of our region by empowering small businesses, entrepreneurs and individuals to achieve their financial goals and enrich our communities. More information on Royal Bancshares of Pennsylvania, Inc., Royal Bank America and its subsidiaries can be found at www.royalbankamerica.com.

Forward-Looking Statements
The foregoing material may contain forward-looking statements. We caution that such statements may be subject to a number of uncertainties, and actual results could differ materially; therefore, readers should not place undue reliance on any forward-looking statements. Royal Bancshares of Pennsylvania, Inc. does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. For a discussion of the factors that could cause actual results to differ from the results discussed in any such forward-looking statements, see the filings made by Royal Bancshares of Pennsylvania, Inc. with the Securities and Exchange Commission, including its Annual Report - Form 10-K for the year ended December 31, 2013.

                                                                            
ROYAL BANCSHARES OF PENNSYLVANIA, INC.                                      
CONDENSED INCOME STATEMENT                                                  
                               Three months               Six months        
                              ended Jun. 30th           ended Jun. 30th     
(in thousands, except                                                       
 per share data)             2014         2013         2014         2013    
                         -----------  -----------  -----------  ----------- 
                         (Unaudited)  (Unaudited)  (Unaudited)  (Unaudited) 
Interest income          $     7,209  $     6,743  $    14,360  $    13,495 
Interest expense               1,622        1,797        3,247        3,777 
                         -----------  -----------  -----------  ----------- 
Net Interest Income            5,587        4,946       11,113        9,718 
Credit for loan and                                                         
 lease losses                    (75)        (163)        (714)        (414)
                         -----------  -----------  -----------  ----------- 
Net interest income                                                         
 after provision               5,662        5,109       11,827       10,132 
Non-interest income              816          961        1,588        2,369 
Non-interest expense           5,031        7,567       10,353       13,707 
                         -----------  -----------  -----------  ----------- 
Income (loss) before                                                        
 taxes                         1,447       (1,497)       3,062       (1,206)
Income taxes                       -            -            -            - 
                         -----------  -----------  -----------  ----------- 
Net Income (Loss)              1,447       (1,497)       3,062       (1,206)
Less net income (loss)                                                      
 attributable to                                                            
 noncontrolling interest          69         (694)         186         (521)
                         -----------  -----------  -----------  ----------- 
Net Income (Loss)                                                           
 Attributable to Royal                                                      
 Bancshares              $     1,378  $      (803) $     2,876  $      (685)
                         ===========  ===========  ===========  =========== 
  Less Preferred stock                                                      
   Series A accumulated                                                     
   dividend and                                                             
   accretion             $       829  $       518  $     1,493  $     1,033 
                         ===========  ===========  ===========  =========== 
Net income (loss) to                                                        
 common shareholders     $       549  $    (1,321) $     1,383  $    (1,718)
                         ===========  ===========  ===========  =========== 
Income (Loss) Per Common                                                    
 Share - Basic and                                                          
 Diluted                 $      0.04  $     (0.10) $      0.10  $     (0.13)
                         ===========  ===========  ===========  =========== 
                                                                            
                                                                            
SELECTED RATIOS:                                                            
                                                                            
                                                                            
                               Three months               Six months        
                              ended Jun. 30th           ended Jun. 30th     
                             2014         2013         2014         2013    
                         -----------  -----------  -----------  ----------- 
Return on Average Assets        0.75%       -0.44%        0.79%       -0.18%
Return on Average Equity       10.34%       -6.13%       11.13%       -2.60%
Average Equity to Assets        7.22%        7.11%        7.07%        7.11%
Book Value Per Share     $      1.84  $      1.48  $      1.84  $      1.48 
                                                                            
                         At Jun. 30,  At Dec. 31,                           
Capital ratios (US                                                          
GAAP):                       2014         2013                              
                         -----------  -----------                           
Royal Bank Tier I                                                           
 Leverage                       10.0%         9.8%                          
Royal Bank Total Risk                                                       
 Basked Capital                 16.9%        16.6%                          
Company Tier I Leverage         10.2%         9.9%                          
Company Total Risk                                                          
 Basked Capital                 18.4%        18.2%                          
                                                                            
                                                                            
CONDENSED BALANCE SHEET                                                     
                                                                            
                                                     At Jun. 30, At Dec. 31,
(in thousands)                                           2014        2013   
                                                     ----------- -----------
                                                     (unaudited)            
Cash and cash equivalents                               $ 28,132    $ 16,844
Investment securities                                    283,358     310,977
Federal Home Loan Bank stock                               3,878       4,204
Loans and leases held for sale                             1,396       1,446
Loans and leases                                                            
  Commercial real estate                                 167,846     160,030
  Construction and land development                       41,180      45,261
  Commercial and industrial                               71,759      79,589
  Residential real estate                                 40,223      25,535
  Leases                                                  45,925      42,524
  Tax certificates                                         9,631      12,716
  Other                                                    1,227         826
                                                     ----------- -----------
Loans and leases                                         377,791     366,481
Allowance for loan and lease losses                     (11,569)    (13,671)
                                                     ----------- -----------
Loans and leases (net)                                   366,222     352,810
Premises and equipment (net)                               4,752       4,475
Other real estate owned (net)                              9,811       9,617
Accrued interest receivable                                6,195       7,054
Other assets                                              23,468      24,827
                                                     ----------- -----------
    Total Assets                                       $ 727,212   $ 732,254
                                                     =========== ===========
                                                                            
Deposits                                               $ 526,917   $ 528,964
Borrowings                                                97,654     107,881
Other liabilities                                         21,555      21,830
Subordinated debentures                                   25,774      25,774
Royal Bancshares shareholders' equity                     54,991      47,534
Noncontrolling interest                                      321         271
                                                     ----------- -----------
    Total Equity                                          55,312      47,805
                                                     ----------- -----------
    Total Liabilities and Equity                       $ 727,212   $ 732,254
                                                     =========== ===========
                                                                            
                                                                            
NET INTEREST INCOME AND MARGIN                                              
                                                                            
                                                                            
                          For the three months       For the three months   
                                 ended                      ended           
                             June 30, 2014              June 30, 2013       
                       -------------------------  ------------------------- 
(In thousands, except   Average                    Average                  
 percentages)           Balance   Interest Yield   Balance   Interest Yield 
                       --------- --------- -----  --------- --------- ----- 
Cash equivalents       $   8,284 $       5  0.24% $  14,774 $       8  0.22%
Investment securities    312,118     1,954  2.51%   307,216     1,291  1.69%
Loans                    370,116     5,250  5.69%   363,183     5,444  6.01%
                       --------- ---------        --------- ---------       
Total interest-earning                                                      
 assets                  690,518     7,209  4.19%   685,173     6,743  3.95%
Non-earning assets        49,365                     55,017                 
                       ---------                  ---------                 
    Total average                                                           
     assets            $ 739,883                  $ 740,190                 
                       =========                  =========                 
Interest-bearing                                                            
 deposits                                                                   
  NOW and money                                                             
   markets             $ 211,381 $     166  0.31% $ 210,778 $     153  0.29%
  Savings                 18,520         7  0.15%    18,189        10  0.22%
  Time deposits          229,906       726  1.27%   235,508       842  1.43%
                       --------- ---------        --------- ---------       
Total interest-bearing                                                      
 deposits                459,807       899  0.78%   464,475     1,005  0.87%
Borrowings               137,441       723  2.11%   133,952       792  2.37%
                       --------- ---------        --------- ---------       
Total interest-bearing                                                      
 liabilities             597,248     1,622  1.09%   598,427     1,797  1.20%
Non-interest bearing                                                        
 deposits                 64,702                     58,865                 
Other liabilities         24,517                     30,310                 
Shareholders' equity      53,416                     52,588                 
                       ---------                  ---------                 
    Total average                                                           
     liabilities and                                                        
     equity            $ 739,883                  $ 740,190                 
                       =========                  =========                 
    Net interest                                                            
     margin                      $   5,587  3.25%           $   4,946  2.90%
                                 =========                  =========       
                                                                            
                                                                            
                                                                            
                                                                            
                        For the six months ended   For the six months ended 
                             June 30, 2014              June 30, 2013       
                       -------------------------  ------------------------- 
(In thousands, except   Average                    Average                  
 percentages)           Balance   Interest Yield   Balance   Interest Yield 
                       --------- --------- -----  --------- --------- ----- 
Cash equivalents       $   7,344 $      10  0.27% $  15,139 $      15  0.20%
Investment securities    315,128     3,876  2.48%   322,229     2,575  1.61%
Loans                    368,152    10,474  5.74%   358,058    10,905  6.14%
                       --------- ---------        --------- ---------       
Total interest-earning                                                      
 assets                  690,624    14,360  4.19%   695,426    13,495  3.91%
Non-earning assets        46,014                     53,128                 
                       ---------                  ---------                 
    Total average                                                           
     assets            $ 736,638                  $ 748,554                 
                       =========                  =========                 
Interest-bearing                                                            
 deposits                                                                   
  NOW and money                                                             
   markets             $ 210,810 $     333  0.32% $ 215,768 $     315  0.29%
  Savings                 18,199        16  0.18%    17,887        19  0.21%
  Time deposits          233,233     1,463  1.26%   240,361     1,744  1.46%
                       --------- ---------        --------- ---------       
Total interest-bearing                                                      
 deposits                462,242     1,812  0.79%   474,016     2,078  0.88%
Borrowings               133,863     1,435  2.16%   134,008     1,699  2.56%
                       --------- ---------        --------- ---------       
Total interest-bearing                                                      
 liabilities             596,105     3,247  1.10%   608,024     3,777  1.25%
Non-interest bearing                                                        
 deposits                 64,310                     58,620                 
Other liabilities         24,137                     28,704                 
Shareholders' equity      52,086                     53,206                 
                       ---------                  ---------                 
    Total average                                                           
     liabilities and                                                        
     equity            $ 736,638                  $ 748,554                 
                       =========                  =========                 
    Net interest                                                            
     margin                      $  11,113  3.24%           $   9,718  2.82%
                                 =========                  =========       
                                                                            

Contact:
Mary Kay Shea
Senior Vice President
610.668.4700

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection. In his session at 18th Cloud Expo, Bradley Holt, a Developer Advocate with IBM Cloud Data Services, discussed...
Between 2005 and 2020, data volumes will grow by a factor of 300 – enough data to stack CDs from the earth to the moon 162 times. This has come to be known as the ‘big data’ phenomenon. Unfortunately, traditional approaches to handling, storing and analyzing data aren’t adequate at this scale: they’re too costly, slow and physically cumbersome to keep up. Fortunately, in response a new breed of technology has emerged that is cheaper, faster and more scalable. Yet, in meeting these new needs they...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at 20th Cloud Expo, Ed Featherston, director/senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
"We are the public cloud providers. We are currently providing 50% of the resources they need for doing e-commerce business in China and we are hosting about 60% of mobile gaming in China," explained Yi Zheng, CPO and VP of Engineering at CDS Global Cloud, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...