July 31, 2014 6:27 AM ET

Banks

Company Overview of Royal Bank America

Company Overview

Royal Bank America provides financial products and services for individuals and businesses in the United States. Its personal banking products and services include savings and checking accounts, money markets accounts, debit cards, online banking services, and deposits; business banking products and services comprise savings and checking accounts, money markets accounts, remote and direct deposits, cash management services, debit cards, and online banking services; and lending and financing solutions include home equity loans, home equity lines of credit, and credit cards. The company also provides specialized equipment financing solutions, including equipment and vendor leasing, zero down f...

732 Montgomery Avenue

Narberth, PA 19072

United States

Founded in 1963

Phone:

610-668-4700

Fax:

610-668-3670

Key Executives for Royal Bank America

Chief Executive Officer
Age: 59
Chief Financial Officer
Age: 43
Executive Vice President
Age: 53
Senior Vice President
Senior Vice President of Small Business Lending
Compensation as of Fiscal Year 2014.

Royal Bank America Key Developments

Royal Bank America Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013

Royal Bank America reported unaudited earnings results for the third quarter and nine months ended September 30, 2013. The bank recorded net income of $586,000 for the third quarter of 2013 compared to a net loss of $4.7 million for the comparable period in 2012. Net income for the nine months ended September 30, 2013 was $93,000 compared to a net loss of $6.4 million for the nine months ended September 30, 2012.

Royal Bancshares of Pennsylvania Inc. and Royal Bank America Announce Executive Retirement

As part of a previously announced management transition program, effective December 31, 2012, Robert R. Tabas and Murray Stempel, III, executive officers of Royal Bancshares of Pennsylvania Inc. (Royal) and its wholly owned banking subsidiary, Royal Bank America, retired from active management of the company. Both Mr. Tabas and Mr. Stempel will remain on the boards of directors of both Royal and the Bank, and Mr. Tabas will continue to serve as Chairman of the boards of directors of both Royal and the Bank. Mr. Tabas and Mr. Stempel each executed letter agreements with respect to their change in status, copies of which are attached hereto as Exhibits 10.1 and 10.2, respectively. Under each agreement, the executive agrees to provide consulting services for a period of six months for up to 32 hours per week. Mr. Tabas will receive monthly consulting fees of $4,279 per month and Mr. Stempel will receive consulting fees of $3,759 per month for such services. In addition, Mr. Tabas will receive an annual non-executive chairman fee of $81,350, payable quarterly. Mr. Tabas and Mr. Stempel will each also continue to receive health care benefits as directors during their terms of service through age 65.

Royal Bancshares of Pennsylvania Inc. and Royal Bank America Announce Management Changes

Royal Bancshares of Pennsylvania Inc. announced that F. Kevin Tylus has been named president, chief executive officer and a director of Royal Bank America, effective immediately. He will report directly to the board of directors. This announcement completes a management transition plan that was first announced by Royal in April 2012. Robert R. Tabas, who has served as chief executive officer since 2009, will retire from day-to-day management of the bank and holding company, but will remain as chairman of the board of directors. Mr. Tylus was president of Yardville National Bank from 2004 to 2007, and served on the company's board of directors from 1991 to 2004, continuing as a non-independent director through 2007. He also brings extensive capital markets experience, having worked with investment bankers and investors on a range of successful capital raising initiatives. He also was responsible for establishing an enterprise risk management culture, satisfying regulatory requirements and expanding customer-facing and internal technology capabilities. Mr. Tylus chaired several Board committees during his tenure as an independent director including the Strategic Planning Committee.

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