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| Pennsylvania                                                   |   | 23-2812193                           |
|----------------------------------------------------------------|--------|--------------------------------------|
| (State of other jurisdiction of incorporation or organization) |   | (I.R.S. Employer Identification No.) |
|                                                           |   |                                 |
| 732 Montgomery Avenue, Narberth, Pennsylvania                  |   | 19072                                |
| (Address of principal executive offices)                       |   | (Zip Code)                           |
|   | (610) 668-4700                                         |   |
|--------|--------------------------------------------------------|--------|
|   | (Issuer’s telephone number, including area code) |   |

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| Name of Each Exchange on Which Registered |   | Title of Each Class                    |
|-------------------------------------------|--------|----------------------------------------|
|                                      |   |                                   |
|  The NASDAQ Stock Market, LLC        |   | Class A Common Stock ($2.00 par value) |
| Name of Each Exchange on Which Registered |   | Title of Each Class                    |
|-------------------------------------------|--------|----------------------------------------|
|                                      |   |                                   |
| None                                      |   | Class B Common Stock ($0.10 par value) |

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| Large accelerated filer o | Accelerated filer o | Non-accelerated filer o | Small reporting company x |
|---------------------------|---------------------|-------------------------|---------------------------|

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| PART III |                                                                                           |   |
|----------|------------------------------------------------------------------------------------------------|--------|
|     |                                                                                           |   |
| Item 10. | Directors, Executive Officers, and Corporate Governance                                        | 1      |
| Item 11. | Executive Compensation                                                                         | 6      |
| Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 13     |
| Item 13. | Certain Relationships and Related Transactions, and Director Independence                      | 17     |
| Item 14. | Principal Accounting Fees and Services                                                         | 18     |
| PART IV  |                                                                                           |   |
|     |                                                                                           |   |
| Item 15. | Exhibits and Financial Statement Schedules                                                     | 20     |
|     |                                                                                           |   |

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| ITEM 10. | DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE |
|----------|---------------------------------------------------------|

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|  | · | employees to whom awards shall be made under the plan; |
|--|--------|--------------------------------------------------------|

|  | · | the type of the awards to be made and the amount, size and terms of the awards; and |
|--|--------|-------------------------------------------------------------------------------------|

|  | · | when awards shall be granted. |
|--|--------|-------------------------------|

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| ITEM 11. | EXECUTIVE COMPENSATION |
|----------|------------------------|

|                                        |      |    | Summary Compensation Table |    |    |   |    |     |   |    |    |   |   |
|--------------------------------------------------|--------------------------|--------------|----------------------------|--------------|--------------|--------|--------------|--------------------|--------|--------------|--------------|--------|--------|
|                                             |                     |         |                            |         |         |        |         |               |        |         |         |        |   |   |  |   |   |  |   |   |  |   |   |  |   |
|                                             |                     |         |                            |         |         |        |         |               |        |         |         |        |   |   | Non -Equity |   |   | Nonqualified |   |   | All Other |   |   |  |   |
|                                             |                     |         |                            |         |         |        |         |               | Stock  |         |         | Option |   |   | Incentive Plan |   |   | Deferred Compensation |   |   | Compensation |   |   | Total |   |
| Name and Principal                               |                     |         | Salary                     |         |         | Bonus  |         |               | Awards |         |         | Awards |   |   | Compensation |   |   | Earnings |   |   |  |   |   |  |   |
| Position                                         | Year                     |         | ($)                        |         |         | ($)    |         |               | ($)    |         |         | ($)    |   |   | ($) |   |   | ($) |   |   | ($) (1) |   |   | ($) |   |
|                                             |                     |         |                            |         |         |        |         |               |        |         |         |        |   |   |  |   |   |  |   |   |  |   |   |  |   |
| Robert R. Tabas                                  | 2013                     |         |                       | -            |         |   |         | -                  |   |         |         | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 149,556 |   |   |   | 149,556 |   |
| Former Principal Executive Officer,              | 2012                     |         |                       | 256,750      |         |   |         | -                  |   |         |         | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 110 |   |   |   | 256,860 |   |
| Chairman and CEO (2)                             | 2011                     |         |                       | 256,750      |         |   |         | -                  |   |         |         | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,500 |   |   |   | 259,250 |   |
|                                             |                     |         |                       |         |         |   |         |               |   |         |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| F. Kevin Tylus                                   | 2013                     |         |                       | 525,000      |         |   |         | -                  |   |         |         | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 392 |   |   |   | 525,392 |   |
| President and CEOPrincipal Executive Officer (3) |                     |         |                       |         |         |   |         |               |   |         |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                             |                     |         |                       |         |         |   |         |               |   |         |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Robert A. Kuehl                                  | 2013                     |         |                       | 245,200      |         |   |         | -                  |   |         |         | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 392 |   |   |   | 245,592 |   |
| Chief Administrative Officer (4)                 | 2012                     |         |                       | 229,260      |         |   |         | -                  |   |         |         | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 110 |   |   |   | 229,370 |   |
|                                             | 2011                     |         |                       | 206,000      |         |   |         | -                  |   |         |         | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,500 |   |   |   | 208,500 |   |
|                                             |                     |         |                       |         |         |   |         |               |   |         |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Michael S. Thompson                              | 2013                     |         |                       | 180,000      |         |   |         | -                  |   |         |         | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 3,336 |   |   |   | 183,336 |   |
| Principal Financial Officer                      | 2012                     |         |                       | 180,000      |         |   |         | -                  |   |         |         | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 31,666 |   |   |   | 211,666 |   |
| Chief Financial Officer (5)                      |                     |         |                       |         |         |   |         |               |   |         |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                             |                     |         |                       |         |         |   |         |               |   |         |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Andrew J. Miller                                 | 2013                     |         |                       | 215,000      |         |   |         | -                  |   |         |         | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 392 |   |   |   | 215,392 |   |
| Executive Vice President                         |                     |         |                       |         |         |   |         |               |   |         |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Chief Lending Officer (6)                        |                     |         |                       |         |         |   |         |               |   |         |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|  | (1) | Please see the table below for a breakdown of the terms and amounts comprising All Other Compensation. |
|--|-----|--------------------------------------------------------------------------------------------------------|

|  | (2) | Mr. Tabas served as Chairman and Chief Executive Officer of the Corporation until February 20, 2013.  Mr. Tabas also served as Chairman and Chief Executive Officer of the Bank until the appointment of F. Kevin Tylus as President and Chief Executive Officer of the Bank on December 18, 2012.  Mr. Tabas continues to serve as Chairman and a director of both the Corporation and the Bank. |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|  | (3) | Mr. Tylus was appointed as President and Chief Executive Officer of the Corporation on February 20, 2013, and as President and Chief Executive Officer of the Bank on December 18, 2012.  Included in Mr. Tylus salary is $100,000 that is paid in the form of Class A common stock of the Corporation. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | Mr. Kuehl served as the Chief Financial Officer of the Corporation and the Bank until September 2012 when he was appointed Chief Administrative and Risk Officer of the Corporation and the Bank. |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | Mr. Thompson served as the Corporation’s Chief Accounting Officer until September 2012 when he was appointed Chief Financial Officer of the Corporation and the Bank. |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (6) | Mr. Miller has served as an Executive Vice President and Chief Lending Officer of the Bank since May 2012, and prior thereto he was chief lending officer of Beneficial Mutual Savings Bank. |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Components of All Other Compensation |         |
|--------------------------------------|--------------|
|                                 |         |   |  |   |   | 401 (k) |   |   |  |   |   |  |   |   |  |   |   |  |   |
|                                 |    |   | Automobile |   |   | Employer |   |   | Director |   |   | Consulting |   |   | Other |   |   |  |   |
|                                 |    |   | Benefit |   |   | Contribution |   |   | Fees |   |   | Fees |   |   | Compensation |   |   | Total |   |
| Name                                 | Year         |   | ($) (1) |   |   | ($) |   |   | ($)(2) |   |   | ($)(3) |   |   | ($)(4) |   |   | ($) |   |
|                                 |         |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |
| Robert R. Tabas                      | 2013         |   |   | - |   |   |   | - |   |   |   | 111,213 |   |   |   | 25,675 |   |   |   | 12,668 |   |   |   | 149,556 |   |
|                            | 2012         |   |   | - |   |   |   | 110 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 110 |   |
|                                 | 2011         |   |   | - |   |   |   | 2,500 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,500 |   |
|                                 |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| F. Kevin Tylus                       | 2013         |   |   | - |   |   |   | 392 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 392 |   |
|                                 |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                 |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Robert A. Kuehl                      | 2013         |   |   | - |   |   |   | 392 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 392 |   |
|                                 | 2012         |   |   | - |   |   |   | 110 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 110 |   |
|                                 | 2011         |   |   | - |   |   |   | 2,500 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,500 |   |
|                                 |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Michael S. Thompson                  | 2013         |   |   | 2,944 |   |   |   | 392 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 3,336 |   |
|                                 | 2012         |   |   | 4,783 |   |   |   | 110 |   |   |   | - |   |   |   | - |   |   |   | 26,773 |   |   |   | 31,666 |   |
|                                 |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                 |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Andrew J. Miller                     | 2013         |   |   | - |   |   |   | 392 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 392 |   |
|                                 |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                            |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |    |   |   |   |      |   |

|  | (1) | For Mr. Thompson, the Automobile Benefit for 2013 reflects the value of the benefit for the use of a company owned vehicle through August 1, 2013. |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | Includes annual fees of $42,700 for serving on the Board of Directors and various board committees and an annual stipend of $68,512 for serving as Chairman of the Board. |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | For a description of the consulting agreement between the Corporation and Mr. Tabas, see “Consulting Agreements” below. |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | For Mr. Thompson, Other Compensation for 2012 includes consists of a retention payment of $25,000 and payment of previously unused paid time off.  For Mr. Tabas, Other Compensation for 2013 reflects the value of the health insurance benefits provided under his consulting agreement. |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   Outstanding Equity Awards Table |   |
|----------------------------------------|--------|
|                              |   | Option Awards |   |   | Stock Awards |   |
| Name and Principal Position            |   | Number ofSecuritiesUnderlyingUnexercisedOptions (#)Exercisable |   |   | Number ofSecuritiesUnderlyingUnexercisedOptions (#)Unexercisable |   |   | Equity IncentivePlan AwardsNumber ofSecuritiesUnderlyingUnexercisedUnearnedOptions(#) |   |   | OptionExercisePrice($) |   |   | OptionExpirationDate |   |   | Number ofShares or Unitsof Stock ThatHave NotVested(#) |   |   | Market Valueof Shares orUnits of StockThat HaveNot Vested($) |   |
|                              |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |
| Robert R. Tabas                        |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |
|                                   |   |   | 5,486 |   |   |   | - |   |   |   | - |   |   | $ | 20.08 |   |   | 07/18/17 |   |   |   | - |   |   | $ | - |   |
|                                   |   |   | 9,350 |   |   |   | - |   |   |   | - |   |   | $ | 4.50 |   |   | 10/07/18 |   |   |   | - |   |   | $ | - |   |
|                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |  |   |   |   |   |   |   |   |   |   |
| F. Kevin Tylus                         |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
|                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Robert A Kuehl                         |   |   | 6,500 |   |   |   | - |   |   |   | - |   |   | $ | 4.50 |   |   | 10/07/18 |   |   |   | - |   |   | $ | - |   |
|                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Michael S. Thompson                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                   |   |   | 2,219 |   |   |   | - |   |   |   | - |   |   | $ | 22.38 |   |   | 04/22/14 |   |   |   | - |   |   | $ | - |   |
|                                   |   |   | 2,022 |   |   |   | - |   |   |   | - |   |   | $ | 21.88 |   |   | 06/16/15 |   |   |   | - |   |   | $ | - |   |
|                                   |   |   | 2,112 |   |   |   | - |   |   |   | - |   |   | $ | 21.78 |   |   | 06/29/16 |   |   |   | - |   |   | $ | - |   |
|                                   |   |   | 1,109 |   |   |   | - |   |   |   | - |   |   | $ | 20.08 |   |   | 07/18/17 |   |   |   | - |   |   | $ | - |   |
|                                   |   |   | 4,700 |   |   |   | - |   |   |   | - |   |   | $ | 4.50 |   |   | 10/07/18 |   |   |   | - |   |   | $ | - |   |
|                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Andrew J. Miller                       |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |

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| Pension Benefits Table      |                                   |
|-----------------------------|----------------------------------------|
| Name and Principal Position | Plan Name                              | Number ofYearsCreditedService (#) |   | Present ValueofAccumulated Benefit ($) |   | PaymentsDuring LastFiscal Year($) |   |
|                   |                              |   |   |   |   |   |   |
| Robert R. Tabas             | Royal Bank America                     |   |   | 26 |   |   | $ | 1,455,720 |   |   | $ | 98,345 |   |
| Principal Executive Officer | Supplemental Executive Retirement Plan |   |   |   |   |   |   |   |   |   |   |   |   |
| Chairman and CEO            |                         |   |   |    |   |   |   |   |   |   |   |   |   |
|                        |                                   |   |   |   |   |   |   |   |   |   |   |   |   |

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|  | a) | Annual retainer of $10,000. (This retainer is paid quarterly and each director has the opportunity to take the cash equivalent in shares of the Corporation’s Class A common stock in lieu of the cash payment.)  Should a board member miss three meetings during a calendar year, any unpaid quarterly retainer is forfeited; and |
|--|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | b) | A board meeting attendance fee of $1,250 per meeting.  The board member must be present in person at the meeting in order to be entitled to receive the fee.  In the event a board member attends via teleconference, the fee paid will be 50% of the regular fee for attendance. |
|--|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Director Compensation Table |    |
|-----------------------------|---------|
|         |    |   |  |   |  |   |  |   |  |   |  |   |  |   |
|                        | Fees    |   |  |   |  |   | Non-Equity |   | Nonqualified |   |  |   |  |   |
|                        | Earned  |   |  |   |  |   | Incentive |   | Deferred |   | All |   |  |   |
|                        | or Paid |   | Stock |   | Option |   | Plan |   | Compensation |   | Other |   |  |   |
|                   | in Cash |   | Awards |   | Awards |   | Compensation |   | Earnings |   | Compensation |   | Total |   |
| Director Name               | ($)     |   | ($) (1) |   | ($) (1) |   | ($) |   | ($) |   | ($)(2) |   | ($) |   |
|              |    |   |  |   |  |   |  |   |  |   |  |   |  |   |
| Edward F. Bradley           |    | $ | 52,000 |   |   |   |  |   |   |   |  |   |   |   |  |   |   |   |  |   |   |  |   |   | $ | 52,000 |   |
| William R. Hartman          |    | $ | 62,750 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |  |   |   | $ | 62,750 |   |
| Wayne R. Huey, Jr.          |    | $ | 43,525 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |  |   |   | $ | 43,525 |   |
| Michael J. Piracci          |    | $ | 34,600 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |  |   |   | $ | 34,600 |   |
| Linda Tabas Stempel         |    | $ | 25,000 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |  |   |   | $ | 25,000 |   |
| Murray Stempel, III         |    | $ | 35,025 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | $ | 35,224 |   |   | $ | 70,249 |   |
| Edward B. Tepper            |    | $ | 36,200 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | $ | 36,200 |   |
| Gerard M. Thomchick         |    | $ | 39,100 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | $ | 39,100 |   |
| Howard Wurzak               |    | $ | 44,000 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | $ | 44,000 |   |

|  | (1) | No stock awards or stock options were made during 2013. |
|--|-----|---------------------------------------------------------|

|  | (2) | Includes consulting fees of $22,556 and $12,668 reflecting the value of health care insurance benefits received by Mr. Stempel in 2013.  For a description of the consulting fees and other benefits received by Mr. Stempel under a consulting agreement during 2013, see “Consulting Agreements” above. |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Director Stock Options Table |        |
|------------------------------|-------------|
|                    |        |   |  |   | Number of |   |
|                         | Number of   |   | Number of |   | Securities |   |
|                         | Securities  |   | Securities |   | Underlying |   |
|                         | Underlying  |   | Underlying |   | Unexercised |   |
|                         | Unexercised |   | Unexercised |   | Options (#) |   |
|                         | Options (#) |   | Options (#) |   | Total |   |
| Director Name                | Exercisable |   | Unexercisable |   | Outstanding |   |
|               |        |   |  |   |  |   |
| Edward F. Bradley            |        |   | - |   |   |   | - |   |   |   | - |   |
| William R. Hartman           |        |   | - |   |   |   | - |   |   |   | - |   |
| Wayne R. Huey, Jr.           |        |   | - |   |   |   | - |   |   |   | - |   |
| Michael J. Piracci           |        |   | - |   |   |   | - |   |   |   | - |   |
| Linda Tabas Stempel          |        |   | 8,069 |   |   |   | - |   |   |   | 8,069 |   |
| Murray Stempel, III          |        |   | 12,400 |   |   |   |   |   |   |   | 12,400 |   |
| Edward B. Tepper             |        |   | 8,069 |   |   |   | - |   |   |   | 8,069 |   |
| Gerard M. Thomchick          |        |   | - |   |   |   | - |   |   |   | - |   |
| Howard Wurzak                |        |   | 8,069 |   |   |   | - |   |   |   | 8,069 |   |

| ITEM 12. | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDERS MATTERS |
|----------|-------------------------------------------------------------------------------------------------|

| Outside Director Stock Option Plan                        | Number of Securitiesto be issued uponexercise ofoutstanding options,warrants and rights |   | Weighted averageexercise price ofoutstanding options,warrants and rights |   | Number of securitiesremaining available forissuance under equityplans (excludingsecurities reflected infirst column) |   |
|-----------------------------------------------------------|-----------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------|--------|
|                                            |                                                                                    |   |                                                                          |   |                                                                                                                      |   |
| Equity compensation plan approved by security holders     |                                                                                    |   | 58,306                                                                   |   |                                                                                                                 | $      | 21.15 |   |   |   | - |   |
| Equity compensation plan not approved by security holders |                                                                                    |   | -                                                                        |   |                                                                                                                 |   | - |   |   |   | - |   |
| Total                                                     |                                                                                    |   | 58,306                                                                   |   |                                                                                                                 | $      | 21.15 |   |   |   | - |   |

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Table of Contents

| Employee Stock Option Plan                                | Number of Securitiesto be issued uponexercise ofoutstanding options,warrants and rights |   | Weighted averageexercise price ofoutstanding options,warrants and rights |   | Number of securitiesremaining available forissuance under equityplans (excludingsecurities reflected infirst column) |   |
|-----------------------------------------------------------|-----------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------|--------|
|                                            |                                                                                    |   |                                                                     |   |                                                                                                                 |   |
| Equity compensation plan approved by security holders     |                                                                                    |   | 217,561                                                                  |   |                                                                                                                 | $      | 21.50 |   |   |   | - |   |
| Equity compensation plan not approved by security holders |                                                                                    |   | -                                                                        |   |                                                                                                                 |   | - |   |   |   | - |   |
| Total                                                     |                                                                                    |   | 217,561                                                                  |   |                                                                                                                 | $      | 21.50 |   |   |   | - |   |
| Long Term Incentive Plan                                  | Number of Securitiesto be issued uponexercise ofoutstanding options,warrants and rights |   | Weighted averageexercise price ofoutstanding options,warrants and rights |   | Number of securitiesremaining available forissuance under equityplans (excludingsecurities reflectedin first column) |   |
|-----------------------------------------------------------|-----------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------|--------|
|                                            |                                                                                         |   |                                                                     |   |                                                                                                                 |   |
| Equity compensation plan approved by security holders     |                                                                                    |   | 86,226                                                                   |   |                                                                                                                 | $      | 9.22 |   |   |   | 808,928 |   |
| Equity compensation plan not approved by security holders |                                                                                    |   | -                                                                        |   |                                                                                                                 |   | - |   |   |   | - |   |
| Total                                                     |                                                                                    |   | 86,226                                                                   |   |                                                                                                                 | $      | 9.22 |   |   |   | 808,928 |   |

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Table of Contents

|                                                                        |   |   |   |      |    |   |   | Class A Shares |   |   | Class B Shares |      |
|--------------------------------------------------------------------------------------------|--------|--------|--------|-----------|--------------|--------|--------|----------------|--------|--------|----------------|-----------|
|                                                                                       |   |        |   |      | Director     |   |   | Beneficially   |   |   | Percent of     |      |   | Beneficially |   |   | Percent of |   |
| Name                                                                                       |   | Age    |   |      | Since        |   |   | Owned          |   |   | Class          |      |   | Owned |   |   | Class |   |
|                                                                   |   |   |   |      |              |   |   |                |   |   |                |      |   |  |   |   |  |   |
| Class I Directors                                                                          |   |        |   |      |              |   |   |                |   |   |                |      |   |  |   |   |  |   |
| Edward F. Bradley                                                                          |   |   | 70     |      |         |   | 2008   |           |   |   | 21,824         |      |   |   | 0.20 | % |   |   | - |   |   |   | 0.00 | % |
| Linda Tabas Stempel (1) (2) (3)                                                            |   |   | 62     |      |         |   | 2003   |           |   |   | 937,680        |      |   |   | 8.43 | % |   |   | 82,919 |   |   |   | 4.21 | % |
| Howard Wurzak (2)                                                                          |   |   | 59     |      |         |   | 1987   |           |   |   | 946,787        |      |   |   | 8.52 | % |   |   | 76,336 |   |   |   | 3.87 | % |
| Class II Directors                                                                         |   |   |   |      |         |   |   |           |   |   |           |      |   |   |   |   |   |   |   |   |   |   |   |   |
| William R. Hartman                                                                         |   |   | 65     |      |         |   | 2011   |           |   |   | 19,971         |      |   |   | 0.18 | % |   |   | - |   |   |   | 0.00 | % |
| Murray Stempel, III (2) (3)                                                                |   |   | 59     |      |         |   | 1997   |           |   |   | 950,729        |      |   |   | 8.55 | % |   |   | - |   |   |   | 0.00 | % |
| Robert R. Tabas (1) (2)                                                                    |   |   | 58     |      |         |   | 1988   |           |   |   | 892,630        |      |   |   | 8.03 | % |   |   | 82,683 |   |   |   | 3.96 | % |
| Class III Directors                                                                        |   |   |   |      |         |   |   |           |   |   |           |      |   |   |   |   |   |   |   |   |   |   |   |   |
| F. Kevin Tylus                                                                             |   |   | 59     |      |         |   | 2013   |           |   |   | 47,119         |      |   |   | 0.42 | % |   |   | - |   |   |   | 0.00 | % |
| Michael J. Piracci                                                                         |   |   | 68     |      |         |   | 2010   |           |   |   | -              |      |   |   | 0.00 | % |   |   | - |   |   |   | 0.00 | % |
| Edward B. Tepper                                                                           |   |   | 75     |      |         |   | 1986   |           |   |   | 39,501         |      |   |   | 0.36 | % |   |   | 13 |   |   |   | 0.00 | % |
| Other Directors (4)                                                                        |   |   |   |      |         |   |   |           |   |   |           |      |   |   |   |   |   |   |   |   |   |   |   |   |
| Wayne R. Huey, Jr.                                                                         |   |   | 69     |      |         |   | 2011   |           |   |   | 14,971         |      |   |   | 0.13 | % |   |   | - |   |   |   | 0.00 | % |
| Gerard M. Thomchick                                                                        |   |   | 58     |      |         |   | 2011   |           |   |   | -              |      |   |   | 0.00 | % |   |   | - |   |   |   | 0.00 | % |
|                                                                             |   |   |   |      |         |   |   |           |   |   |           |      |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-Director Executive Officer                                                             |   |   |   |      |         |   |   |           |   |   |           |      |   |   |   |   |   |   |   |   |   |   |   |   |
| Robert A. Kuehl (5)                                                                        |   |   | 65     |      |         |   | N/     | A              |   |   | 9,500          |      |   |   | 0.09 | % |   |   | - |   |   |   | 0.00 | % |
| Michael S. Thompson (6)                                                                    |   |   | 42     |      |         |   | N/     | A              |   |   | 12,997         |      |   |   | 0.12 | % |   |   | - |   |   |   | 0.00 | % |
| Andrew J. Miller (7)                                                                       |   |   | 59     |      |         |   | N/     | A              |   |   | -              |      |   |   | 0.00 | % |   |   | - |   |   |   | 0.00 | % |
|                                                                                  |   |   |   |      |         |   |   |           |   |   |           |      |   |   |   |   |   |   |   |   |   |   |   |   |
| All directors and executive officers as a group (14 persons) and Daniel M. Tabas Trust (8) |   |   |   | 2,964,063 |         |   |   | 26.82          | %      |   |           | 1,362,730 |   |   |   | 69.14 | % |

|  | (1) | Linda Tabas Stempel, Robert R. Tabas and Nicholas Randazzo share voting and dispositive control over 1,120,779 shares of Class B common stock held in the Daniel M. Tabas Trust. These shares are not included in the share ownership reported in this table for Ms. Stempel or for Mr. Tabas (See footnote (1) on page 3). |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | Robert R. Tabas, Murray Stempel, III, Linda Tabas Stempel, Howard Wurzak and members of their immediate families and their affiliates, in the aggregate, own 2,798,215 shares of Class A common stock (25.16% of Class A) and 1,362,717 shares of Class B common stock (69.14% of Class B) or 32.78% of Class A assuming the full conversion of Class B common stock at a current conversion rate of 1.15 shares of Class A common stock for each share of Class B common stock. |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | Linda Tabas Stempel and Murray Stempel, III are married.  Mr. Stempel’s shares include 5,428 Class A shares related to shares that he has the voting and dispositive power for a grandchild of Evelyn Tabas. |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | As a result of the Corporation missing the sixth quarterly dividend payment in November of 2010, the Treasury Department exercised its rights under the TARP Capital Purchase Program agreement and appointed two directors to the board of directors. Under the terms of the Series A Preferred Stock instrument issued to Treasury, these directors will serve as directors at a minimum until all accrued and unpaid dividends have been paid in full by the Corporation. |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | Mr. Kuehl served as the Corporation’s Chief Financial Officer from October 2008 until September 2012.  Mr. Kuehl is currently the Corporation’s Chief Administrative and Risk Officer. |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (6) | Mr. Thompson was appointed the Corporation’s Chief Financial Officer in September 2012.  Prior to September 2012, Mr. Thompson served as the Corporation’s Chief Accounting Officer. |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (7) | Mr. Miller was appointed the Corporation’s Executive Vice President and Chief Lending Officer in May 2012.  Prior to May 2012, Mr. Miller served as chief lending officer of Beneficial Mutual Savings Bank. |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (8) | The number of shares included in total for directors, officers and the Daniel Tabas Trust has been reduced by 929,611 Class A shares and 82,919 Class B shares to eliminate the same shares beneficially held by both Linda Tabas Stempel and her husband, Murray Stempel, III. |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|            |   | Class A Shares |      |   | Class B Shares |   |
|---------------------------|--------|----------------|-----------|--------|----------------|--------|
| Name and Address of       |   | Beneficially   |      |   | Percent of     |   |   | Beneficially |   |   | Percent of |   |
| Beneficial Owner          |   | Owned          |      |   | Class          |   |   | Owned |   |   | Class |   |
|                      |   |                |      |   |                |   |   |  |   |   |  |   |
| Daniel M. Tabas Trust (1) |   |           | -         |   |           |   | 0.00 | % |   |   | 1,120,779 |   |   |   | 56.87 | % |
| 915 Montgomery Avenue     |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
| Narberth, PA 19072        |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
|                      |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
| Evelyn R. Tabas (2) (3)   |   |           | 84,299    |   |           |   | 0.76 | % |   |   | 31 |   |   |   | 0.00 | % |
| 543 Mulberry Lane         |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
| Narberth, PA 19072        |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
|                      |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
| Lee Evan Tabas (4)        |   |           | 1,370,679 |   |           |   | 12.33 | % |   |   | 149,662 |   |   |   | 7.59 | % |
| 355 W. Lancaster Avenue   |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
| Haverford, PA 19041       |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
|                      |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
| Carol Tabas (5)           |   |           | 874,998   |   |           |   | 7.87 | % |   |   | 82,041 |   |   |   | 4.16 | % |
| 39 Rosemont Lane          |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
| Pittsburgh, PA 15217      |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
|                      |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
| Susan Tabas Tepper (6)    |   |           | 604,995   |   |           |   | 5.44 | % |   |   | - |   |   |   | 0.00 | % |
| 717 Eagle Farm Road       |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
| Villanova, PA 19085       |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
|                 |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |

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|  | (1) | The trustees for the Daniel M. Tabas Trust are, Robert R. Tabas, Linda Tabas Stempel and Nicholas Randazzo, who as a group have voting rights and dispositive control of these shares. |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | The shares beneficially owned by Evelyn R. Tabas consist of 22,367 shares of Class A common stock owned and voted solely by Evelyn R. Tabas. |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | Evelyn R. Tabas has sole power to vote and dispose of 61,932 shares of Class A common stock and 31 shares of Class B common stock from numerous custodial accounts and a trust for the Tabas grandchildren. |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | Based on a Schedule 13D filing on November 26, 2008, the shares beneficially owned by Lee Evan Tabas consist of: (a) 604,995 Class A shares acquired pursuant to the 2008 Irrevocable Agreement of Trust for the Family of Lee E. Tabas from Evelyn R. Tabas of which he has sole voting power and dispositive power subject to the terms of the trust agreement; (b) 5,177 Class A and 58,887 Class B shares held by his wife, Nancy Freeman Tabas in her name over which she holds voting and dispositive power; (c) 282,461 Class A shares held by Lee Evan Tabas and Nancy Freeman Tabas as joint tenants in common; and (d) 193,482 Class A and 5,918 Class B shares owned collectively by the Samuel Bradford Tabas Trust, the Elizabeth Rebecca Tabas Trust, the Theodore Herschel Tabas Trust and the Melissa Tamara Tabas Trust. Samuel, Elizabeth, Theodore, and Melissa are the adult children of Lee and Nancy Tabas. Lee and Nancy Tabas share voting and dispositive power over the shares they hold jointly and for the shares held in the trusts in the names of their adult children.  In addition, Lee Tabas also has the power to vote and dispose of 284,564 Class A and 84,857 Class B shares held in the Lee Evan Tabas Trust. |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | The shares beneficially owned by Carol Tabas consist of:  (a) 604,995 Class A shares acquired pursuant to the 2008 Irrevocable Agreement of Trust for Carol Tabas from Evelyn R. Tabas of which she has sole voting and dispositive power subject to the terms of the trust agreement; (b) 36,606 Class A shares in the Lily Ashley Stofman Trust of which she has sole voting power; (c) 8,401 Class A shares in the Gregory Rome Stofman Trust of which she has sole voting power; and (d) 5,922 Class A shares in the Maxwell Hunter Stofman Trust of which she has sole voting power.  In addition, Carol Tabas has the power to vote and dispose of 219,074 Class A and 82,041 Class B shares held in the Carol Tabas Trust. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (6) | The shares beneficially owned by Susan Tabas Tepper consist of 604,995 Class A shares acquired pursuant to the 2008 Irrevocable Agreement of Trust for Susan Tabas Tepper from Evelyn R. Tabas of which she has sole voting and dispositive power subject to the terms of the trust agreement.  Ms. Tepper disclaims beneficial interest in, and therefore the amount in the table above does not include, 248,778 Class A and 82,647 Class B shares held in the Susan Tabas Tepper Trust since she does not have voting or dispositive power over the shares. |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ITEM 13. | CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE |
|----------|---------------------------------------------------------------------------|

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Table of Contents

| ITEM 14. | PRINCIPAL ACCOUNTING FEES AND SERVICES |
|----------|----------------------------------------|

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Table of Contents

|               |   | Year ended December 31, |    |
|--------------------|--------|-------------------------|---------|
|               |   | 2013                    |    |   | 2012 |   |
|          |   |                         |    |   |  |   |
| Audit fees         |   | $                       | 252,000 |   |   | $ | 307,000 |   |
| Audit related fees |   |                    | 12,000  |   |   |   | 12,000 |   |
| Tax fees           |   |                    | 59,000  |   |   |   | 61,000 |   |
| All other fees     |   |                    | -       |   |   |   | - |   |
|     |   |                    |    |   |   |   |   |   |
| Total fees:        |   | $                       | 323,000 |   |   | $ | 380,000 |   |

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| Item 15. | Exhibits and Financial Statement Schedules |
|----------|--------------------------------------------|

|   | (a)(1) | The following financial statements are included by reference in Part II, Item 8 hereof: |
|--------|--------|-----------------------------------------------------------------------------------------|
|   |   |                                                                                    |
|   |   | Report of Independent Registered Public Accounting Firm                                 |
|   |   | Consolidated Statements of Condition                                                    |
|   |   | Consolidated Statements of Income                                                       |
|   |   | Consolidated Statements of Cash Flows                                                   |
|   |   | Consolidated Statements of Changes in Shareholders’ Equity                        |
|   |   | Notes to Consolidated Financial Statements                                              |
|   | (a)(2) | List of Financial Schedules                                                                                                                                                                   |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                          |
|   |   | Financial Statement Schedules are omitted because the required information is either not applicable, not required or is shown in the respective financial statements or in the notes thereto. |
|   |   |                                                                                                                                                                                          |
|   | (a)(3) | Exhibits                                                                                                                                                                                      |
|   |   |                                                                                                                                                                                          |
|   |   | The exhibits listed on the Exhibit Index of this Annual Report on Form 10-K have been previously filed, are filed herewith, or are incorporated herein by reference to other filings.         |

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|   | ROYAL BANCSHARES OF PENNSYLVANIA, INC. |
|--------|----------------------------------------|
|   |                                        |   |
|   |                                        | By: /s/ Michael S. Thompson |
|   |                                        | Michael S. Thompson |
|   |                                        | Chief Financial Officer |
|   |                                        | (Principal Financial Officer |
|   |                                        | and Principal Accounting Officer) |
|   |                                        | April 28, 2014 |

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Table of Contents

|  | 3.1    | Articles of Incorporation of the Company.  (Incorporated by reference to Exhibit 3.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2013.)                                                                                                                                                                            |
|--|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  |   |                                                                                                                                                                                                                                                                                                                                                            |
|  | 3.2    | Bylaws of the Company.  (Incorporated by reference to Exhibit 3.2 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2008.)                                                                                                                                                                                                 |
|  |   |                                                                                                                                                                                                                                                                                                                                                            |
|  | 4.1    | Junior Subordinated Debt Security Due 2034 issued by Royal Bancshares of Pennsylvania, Inc. to JPMorgan Chase Bank, as Institutional Trustee, dated October 27, 2004.  (Incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K (included as Exhibit A to Exhibit 10.1) filed with the Commission on November 1, 2004.) |
|  |   |                                                                                                                                                                                                                                                                                                                                                            |
|  | 4.2    | Junior Subordinated Debt Security Due 2034 issued by Royal Bancshares of Pennsylvania, Inc. to JPMorgan Chase Bank, as Institutional Trustee, dated October 27, 2004.  (Incorporated by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K (included as Exhibit A to Exhibit 10.2) filed with the Commission on November 1, 2004.) |
|  |   |                                                                                                                                                                                                                                                                                                                                                            |
|  | 4.3    | Indenture by and between Royal Bancshares of Pennsylvania, Inc. and JPMorgan Chase Bank, as Trustee, dated October 27, 2004.  (Incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the Commission on November 1, 2004.)                                                                                 |
|  |   |                                                                                                                                                                                                                                                                                                                                                            |
|  | 4.4    | Indenture by and between Royal Bancshares of Pennsylvania, Inc. and JPMorgan Chase Bank, as Trustee, dated October 27, 2004.  (Incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed with the Commission on November 1, 2004.)                                                                                 |
|  |   |                                                                                                                                                                                                                                                                                                                                                            |
|  | 4.5    | Guarantee Agreement by and between Royal Bancshares of Pennsylvania, Inc. and JPMorgan Chase Bank, as Guarantee Trustee, dated October 27, 2004.  (Incorporated by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K filed with the Commission on November 1, 2004.)                                                             |
|  |   |                                                                                                                                                                                                                                                                                                                                                            |
|  | 4.6    | Guarantee Agreement by and between Royal Bancshares of Pennsylvania, Inc. and JPMorgan Chase Bank, as Guarantee Trustee, October 27, 2004.  (Incorporated by reference to Exhibit 10.4 to the Company’s Current Report on Form 8-K filed with the Commission on November 1, 2004.)                                                                   |
|  |   |                                                                                                                                                                                                                                                                                                                                                            |
|  | 10.1   | Stock Option and Appreciation Right Plan. As amended on May 16, 2005 (Incorporated by reference to the Company’s Registration Statement N0. 333-129894, on Form S-8 filed with the Commission on November 22, 2005.)*                                                                                                                                     |
|  |   |                                                                                                                                                                                                                                                                                                                                                            |
|  | 10.2   | Outside Directors’ Stock Option Plan. (Incorporated by reference to the Company’s Registration Statement No. 333-25855, on Form S-8 filed with the Commission on April 5, 1997.)*                                                                                                                                                                   |

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|  | 10.3   | Royal Bancshares of Pennsylvania, Inc. 2007 Long-Term Incentive Plan.  (Incorporated by reference to Exhibit A to the Company’s definitive Proxy Statement dated April 6, 2007.)*                                                                                                                                                                                                                                       |
|--|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  |   |                                                                                                                                                                                                                                                                                                                                                                                                                               |
|  | 10.4   | Letter Agreement, including Securities Purchase Agreement - Standard Terms, dated December 19, 2008, between Royal Bancshares of Pennsylvania, Inc. and the United States Department of the Treasury.  (Incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the Commission on February 26, 2009.)                                                                          |
|  |   |                                                                                                                                                                                                                                                                                                                                                                                                                               |
|  | 10.5   | Side Letter Agreement, dated February 20, 2009, between Royal Bancshares of Pennsylvania, Inc. and the United States Department of the Treasury.  (Incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed with the Commission on February 26, 2009.)                                                                                                                               |
|  |   |                                                                                                                                                                                                                                                                                                                                                                                                                               |
|  | 10.6   | Form of Letter Agreement, dated December 19, 2008, between Royal Bancshares of Pennsylvania, Inc. and certain of its executive officers relating to executive compensation limitations under the United States Treasury Department’s Capital Purchase Program.* (Incorporated by reference to Exhibit 10.14 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2008 filed on March 30, 2009.) |
|  |   |                                                                                                                                                                                                                                                                                                                                                                                                                               |
|  | 10.7   | Employment Agreement dated as of November 20, 2013, between the Company, Royal Bank America and F. Kevin Tylus.* (Incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on November 27, 2013.)                                                                                                                                                                                         |
|  |   |                                                                                                                                                                                                                                                                                                                                                                                                                               |
|  | 10.8   | Employment Agreement dated as of November 20, 2013, between the Company, Royal Bank America and Robert A. Kuehl.* (Incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on November 27, 2013.)                                                                                                                                                                                        |
|  |   |                                                                                                                                                                                                                                                                                                                                                                                                                               |
|  | 10.9   | Employment Agreement dated as of November 20, 2013, between the Company, Royal Bank America and Andrew J. Miller.* (Incorporated by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K filed on November 27, 2013.)                                                                                                                                                                                       |
|  |   |                                                                                                                                                                                                                                                                                                                                                                                                                               |
|  | 10.10  | Employment Agreement dated as of November 20, 2013, between the Company, Royal Bank America and Michael S. Thompson.* (Incorporated by reference to Exhibit 10.4 to the Company’s Current Report on Form 8-K filed on November 27, 2013.)                                                                                                                                                                                    |
|  |   |                                                                                                                                                                                                                                                                                                                                                                                                                               |
|  | 10.11  | Royal Bank America Supplemental Executive Retirement Plan.* (Incorporated by reference to Exhibit 10.5 to the Company’s Quarterly Report on Form 10-Q filed on November 13, 2009.)                                                                                                                                                                                                                                           |
|  |   |                                                                                                                                                                                                                                                                                                                                                                                                                               |
|  | 10.12  | SERP Participation Agreement, as amended — Robert Tabas.* (Incorporated by reference to Exhibit 10.6 to the Company’s Quarterly Report on Form 10-Q filed on November 13, 2009.)                                                                                                                                                                                                                                       |
|  |   |                                                                                                                                                                                                                                                                                                                                                                                                                               |
|  | 10.13  | Investment Agreement dated March 6, 2014, between Emerald Advisers, Inc. and Royal Bancshares of Pennsylvania, Inc. (Incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on March 11, 2014).                                                                                                                                                                                         |
|  |   |                                                                                                                                                                                                                                                                                                                                                                                                                               |
|  | 10.14  | Securities Purchase Agreement dated March 10, 2014, among Royal Bancshares of Pennsylvania, Inc. and the purchasers named therein. (Incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on March 11, 2014).                                                                                                                                                                          |

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|  | 10.15  | Registration Rights Agreement dated March 10, 2014, among Royal Bancshares of Pennsylvania, Inc. and the purchasers named therein. (Incorporated by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K filed on March 11, 2014). |
|--|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  |   |                                                                                                                                                                                                                                                      |
|  | 10.16  | Stock Purchase Agreement dated August 13, 2013, between The Daniel M. Tabas Trust and Royal Bancshares of Pennsylvania, Inc. (Incorporated by reference to Exhibit 10.18 to the Company’s Registration Statement No. 333-190973 on Form S-1).       |
|  |   |                                                                                                                                                                                                                                                      |
|  | 11.    | Statement re: Computation of Earnings Per Share.  (Included at Item 8, hereof, Note 18, “Earnings Per Common Share”.)**                                                                                                                  |
|  |   |                                                                                                                                                                                                                                                      |
|  | 21.    | Subsidiaries of Registrant.**                                                                                                                                                                                                                             |
|  |   |                                                                                                                                                                                                                                                      |
|  | 23.    | Consent of Independent Registered Public Accounting Firm.**                                                                                                                                                                                               |
|  |   |                                                                                                                                                                                                                                                      |
|  | 31.1   | Rule 13a-14(a)/15-d-14(a) Certification of Principal Executive Officer.                                                                                                                                                                                   |
|  |   |                                                                                                                                                                                                                                                      |
|  | 31.2   | Rule 13a-14(a)/15-d-14(a) Certification of Principal Financial Officer.                                                                                                                                                                                   |
|  |   |                                                                                                                                                                                                                                                      |
|  | 32.1   | Section 1350 Certification of Principal Executive Officer.                                                                                                                                                                                                |
|  |   |                                                                                                                                                                                                                                                      |
|  | 32.2   | Section 1350 Certification of Principal Financial Officer.                                                                                                                                                                                                |
|  |   |                                                                                                                                                                                                                                                      |
|  | 99.1   | Certification of Principal Executive Officer pursuant to the Emergency Economic Stabilization Act of 2008.**                                                                                                                                              |
|  |   |                                                                                                                                                                                                                                                      |
|  | 99.2   | Certification of Principal Financial Officer pursuant to the Emergency Economic Stabilization Act of 2008.**                                                                                                                                              |
|  |   |                                                                                                                                                                                                                                                      |
|  | 101    | Interactive Data File**                                                                                                                                                                                                                                   |

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