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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 | Smaller reporting company x |
|---------------------------|---------------------|-------------------------|-----------------------------|

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Table

| PART III |                                                                                           |   |
|----------|------------------------------------------------------------------------------------------------|--------|
|     |                                                                                           |   |
| Item 11. | Executive Compensation                                                                         | 2      |
| Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 21     |
| PART IV  |                                                                                           |   |
|     |                                                                                           |   |
| Item 15. | Exhibits and Financial Statement Schedules                                                     | 24     |

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

|   | ● | At least annually reviewing and approving corporate goals and objectives relevant to the compensation of the Tier 1 Executives, evaluating the performance of Tier 1 Executives in light of such goals and objectives, and recommending to the independent directors the compensation levels of the Tier 1 Executives, including base salary, annual incentive opportunity level, long-term incentive opportunity level, and the terms of any agreements, based on such evaluation.  In recommending the long-term incentive component of the compensation of the Tier 1 Executives, the Committee considers the Corporation’s performance and relative shareholder return, the value of similar incentive awards to senior executive officers at comparable companies, the awards given to the Tier 1 Executives in past years, and other factors it deems appropriate. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | At least annually reviewing the material performance criteria used by the Salary Committee in evaluating executive officers other than the Tier 1 Executives and the material criteria used in establishing appropriate compensation, retention, incentive, severance, and benefit policies and programs applicable to such executive officers. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Periodically reviewing and making recommendations to the board of directors with respect to the adoption of or substantive changes in material employee benefit plans, bonus, incentive compensation, severance, equity-based or other compensation, or incentive plans of the Corporation and its subsidiaries. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Administering and having authority to recommend awards, subject to approval of the board of directors, under the Corporation’s long-term incentive plans, subject to the terms of the applicable plans. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | ● | Annually reviewing and determining the compensation of directors, subject to the approval of independent directors acting in executive session. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | For so long as the Corporation has outstanding securities issued to the United States Department of the Treasury under the Troubled Asset Relief Program’s (“TARP”) Capital Purchase Program, reviewing executive compensation to ensure compliance with applicable legal requirements of that program. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Providing an ongoing review of the effectiveness of the compensation programs, including competitiveness, and alignment with the Corporation’s objectives. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Recommending changes, if necessary, to ensure achievement of all program objectives. |
|--------|---------|--------------------------------------------------------------------------------------|

|   | ● | Recommending compensation levels and/or incentive awards for key executive officers other than the Tier 1 Executives. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------|

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|   | ● | support its business plan and strategy by clearly setting forth what is expected of executives with respect to financial results and goals and by rewarding achievement of said results and goals; |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | allow for recruiting and retaining executive talent; and |
|--------|---------|----------------------------------------------------------|

|   | ● | align management performance and their interests with the interests of the Corporation’s shareholders. |
|--------|---------|--------------------------------------------------------------------------------------------------------------|

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| 1st National Community Bancorp | Abington Bancorp                  | ACNB Corp.                 |
|--------------------------------|-----------------------------------|----------------------------|
| Alliance Financial Corp.       | AmeriServ Financial Corp.         | The Bancorp, Inc.          |
| Bryn Mawr Bank Corp.           | Canandaigua National Corp.        | Center Bancorp, Inc.       |
| Citizens & Northern Corp.  | First Chester County Corp.        | Orrstown Financial Corp.   |
| Parkvale Financial Corp.       | Peapack-Gladstone Financial Corp. | Metro Bancorp              |
| Republic First Bancorp Inc.    | Shore Bancshares, Inc.            | Univest Corporation of PA. |
| VIST Financial Corp.           |                              |                       |

|   | ● | Base pay for the five Tier 1 executive positions was competitive with base salaries in the peer group, with the exception of the base salary for the Chief Executive Officer, which was substantially below peer levels. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | With respect to total compensation, based on peer group comparison, Royal was substantially below market for the Chief Executive Officer and Chief Financial Officer positions and below, but within 20% of, the market for the other three Tier 1 Executive positions.  The absence of an annual bonus was a major reason for the disparity between the Corporation’s Tier 1 Executives and comparable peer positions. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | base salary; |
|--------|---------|--------------|

|   | ● | performance-based bonus program, paid in cash; |
|--------|---------|------------------------------------------------|

|   | ● | periodic (generally annual) grants of long-term, equity-based compensation;  This is comprised generally of stock option grants, however, a portion of this element may be paid in the form of restricted stock and other types of long-term, equity-based components (subject to Committee recommendation and independent director approval).  Awards of restricted stock will be generally performance-based, requiring the achievement of specific goals; and |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Supplemental Executive Retirement Plan. |
|--------|---------|-----------------------------------------|

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|   | ● | Requirements and responsibilities of the position along with, if available, salary norms for executives in comparable positions at peers; |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Expertise of the individual executive; |
|--------|---------|----------------------------------------|

|   | ● | Market competition for services of similar executives; |
|--------|---------|--------------------------------------------------------|

|   | ● | Advice from Mosteller and Associates, and any other third-party advisor that the Committee may engage; and |
|--------|---------|------------------------------------------------------------------------------------------------------------|

|   | ● | Recommendations of the Chief Executive Officer (except with respect to his own compensation). |
|--------|---------|-----------------------------------------------------------------------------------------------|

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|   | ● | Bonuses and Incentive Compensation: The Corporation is generally prohibited from paying or accruing certain bonus, retention award or incentive compensation to certain highly compensated employees. This restriction applies to the Corporation’s five most highly compensated employees (or such higher number as the Secretary of the Treasury may determine is in the public interest).  The statute also permits bonus, retention or incentive compensation paid to subject employees in the form of restricted stock provided that: the vesting period is a minimum of two years; the restricted stock does not fully vest during the period in which Treasury retains its investment (for each 25% of total assistance repaid, 25% of the award may become vested); and the amount of restricted stock granted is not greater than 1/3 of the total amount of annual compensation of the employee receiving the restricted stock.  The Corporation is generally prohibited from paying or accruing any bonus, retention award, or incentive compensation to the Corporation’s five most highly compensated employees (whether or not they are also executive officers). |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Severance Payments: The TARP Capital Purchase Program previously imposed limitations on the ability of the Corporation to make “golden parachute payments” to the Corporation’s top five senior executive officers (i.e., an individual who is the CEO, CFO, or one of the next three most highly compensated executive officers, who are identified in the Corporation’s Annual Report or Proxy Statement for a given year, reporting compensation for the immediately preceding fiscal year). The ARRA expanded the application of the golden parachute limitations to the next five most highly compensated employees of the Corporation. A “golden parachute payment” includes any payment for departure from a company for any reason, except for payments for services performed or benefits accrued.  It includes the acceleration of vesting of equity awards or other compensation.  A golden parachute payment does not include certain payments from qualified or similar plans; for current or prior services that would be made regardless of whether the employee departs; or from welfare benefit plans and deferred compensation plans if specific requirements are satisfied. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Clawbacks: The ARRA requires recipients to recover (or “clawback”) any bonus, retention award, or incentive compensation paid to any one of its top five senior executive officers or to any of the next five most highly compensated employees and its next 20 most highly compensated employees based on statements of earnings, revenues, gains, or other criteria that are later found to be based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria. Furthermore, the ARRA requires the Secretary of the Treasury to review bonuses, retention awards and other compensation paid to the senior executive officers and the next 20 most highly compensated employees to determine whether such payments were consistent with the purposes of the EESA, the ARRA, and TARP Capital Purchase Program and in the public interest. The Corporation is required to exercise its claw-back rights except in limited circumstances. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | ● | Anti-Manipulation. The ARRA prohibits any compensation plan that would encourage manipulation of reported earnings to enhance the compensation of any of the Corporation’s employees. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | No Gross-Ups.  The Corporation is prohibited from providing any gross-ups to its senior executive officers and next 20 most highly compensated employees. For this purpose, a “gross-up” is defined as any reimbursement for taxes owed with respect to any compensation, other than certain payments under a tax equalization agreement. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | The Corporation’s Chief Executive Officer and Chief Financial Officer are required to provide a written certification to the SEC of compliance with the executive compensation restrictions described in the EESA, as modified by the ARRA. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | The Board of Directors enacted a company-wide policy regarding excessive or luxury expenditures on October 21, 2009. This includes policies on entertainment, events, office and facility renovations, air and other travel and other activities or events that are not reasonable expenditures for staff development, reasonable performance incentives or other similar measures conducted in the normal course of business. The Corporation’s excessive and luxury expenditures policy is posted on its website at www.royalbankamerica.com under the heading “Regulatory Filings” located on the “Investor Relations” page. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | For years in which Treasury owns shares of the Series A Preferred Stock, the Corporation may not claim a deduction on compensation paid to a senior executive officer in excess of the $500,000 compensation deduction limit of Section 162(m)(5) of the Internal Revenue Code. Moreover, the exception contained in Section 162(m) of the Code for performance-based pay not counting against this limit, will not be available. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | For years in which Treasury owns shares of the Series A Preferred Stock, the Corporation is required to submit a proposal allowing our shareholders to cast an advisory vote on the compensation paid to our named executive officers pursuant to the policies and programs described in the Compensation Discussion and Analysis and disclosed in the tables and narrative disclosure included in this Proxy Statement. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Compensation Program                           | Reason Why Program Does Not Encourage Excessive and Unnecessary Riskor the Manipulation of Earnings |
|-----------------------------------------------------|-----------------------------------------------------------------------------------------------------|
|                                                |                                                                                                |   |
| Base Salary and Health and Welfare Benefits         | ●                                                                                             | Compensation levels are generally fixed for these programs and changes are primarily driven by comparisons to peers. Current compensation levels are comparable to or below our peers. |
|                                                | ●                                                                                             | While increases in base salary may result from individual performance, the Corporation’s overall performance and salaries paid by peers are primarily considered before granting such an increase. |
|                                                |                                                                                                |   |
| SERP                                                | ●                                                                                             | Long vesting periods discourage our employees from engaging in activities that could result in their termination, including activities that pose excessive and unnecessary risks to the Corporation’s value. |
|                                                | ●                                                                                             | Caps exist on the amounts distributed. |
|                                                |                                                                                                |   |
| Performance-Based Bonus Plan                        | ●                                                                                             | Awards are subject to recovery by the Corporation in the event the payment was based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria. |
|                                                | ●                                                                                             | This Plan has been suspended until profitability improves. |
|                                                | ●                                                                                             | ARRA prohibits bonus payments to the five most highly compensated employees. |
|                                                | ●                                                                                             | Awards are subject to forfeiture in the event of unethical behavior. |
|                                                |                                                                                                |   |
| Long-Term IncentiveCompensation Plan (Equity Based) | ●                                                                                             | Awards are subject to recovery by the Corporation in the event the payment was based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.  |
|                                                | ●                                                                                             | Vesting schedules can be matched to align with timetables for Corporation’s long-term goals. |
|                                                | ●                                                                                             | The five most highly compensated employees are not eligible to receive stock options under ARRA. |
|                                                | ●                                                                                             | The size and the vesting of any restricted stock awards to the Corporation’s five most highly compensated employees are restricted under ARRA. |
|                                                | ●                                                                                             | No awards were made under Plan for 2012. |

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| Summary Compensation Table       |
|----------------------------------|
|                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | Change In Pension Value |   |   |   |   |   |   |   |
|                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   | Non -Equity |   |   | and Nonqualified |   |   | All Other |   |   |   |   |
|                             |   |   |   |   |   |   |   |   | Stock |   |   | Option |   |   | Incentive Plan |   |   | Deferred Compensation |   |   | Compensation |   |   | Total |   |
| Name and Principal               |   |   | Salary |   |   | Bonus |   |   | Awards |   |   | Awards |   |   | Compensation |   |   | Earnings |   |   |   |   |   |   |   |
| Position                         | Year |   | ($) |   |   | ($) |   |   | ($) |   |   | ($) (1) |   |   | ($) |   |   | ($) (2) |   |   | ($) (3) |   |   | ($) |   |
|                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Robert R. Tabas                  | 2012 |   |   | 256,750 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 218,375 |   |   |   | 110 |   |   |   | 475,235 |   |
| Principal Executive Officer      | 2011 |   |   | 256,750 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 365,533 |   |   |   | 2,500 |   |   |   | 624,783 |   |
| Chairman and CEO (4)             | 2010 |   |   | 256,750 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 164,273 |   |   |   | - |   |   |   | 421,023 |   |
|                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| James J. McSwiggan               | 2012 |   |   | 197,616 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 173,219 |   |   |   | 186,523 |   |   |   | 557,358 |   |
| President and COO (5)            | 2011 |   |   | 367,000 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 475,540 |   |   |   | 2,500 |   |   |   | 845,040 |   |
|                             | 2010 |   |   | 367,000 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 221,240 |   |   |   | - |   |   |   | 588,240 |   |
|                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Murray Stempel III               | 2012 |   |   | 225,560 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 209,660 |   |   |   | 110 |   |   |   | 435,330 |   |
| Vice Chairman (6)                | 2011 |   |   | 225,560 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 338,750 |   |   |   | 2,500 |   |   |   | 566,810 |   |
|                             | 2010 |   |   | 225,560 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 159,514 |   |   |   | - |   |   |   | 385,074 |   |
|                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Robert A. Kuehl                  | 2012 |   |   | 229,260 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 110 |   |   |   | 229,370 |   |
| Chief Administrative Officer (7) | 2011 |   |   | 206,000 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,500 |   |   |   | 208,500 |   |
|                             | 2010 |   |   | 200,049 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 200,049 |   |
|                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Michael S. Thompson              | 2012 |   |   | 180,000 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 31,666 |   |   |   | 211,666 |   |
| Principal Finanical Officer      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Chief Financial Officer (8)      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|   | (1) | Amounts calculated using the provisions of Financial Accounting Standards Codification Topic 718.  Amounts represent the aggregate grant date fair value of stock options and restricted stock awards made during the applicable fiscal year.  The assumptions used in the calculation of these amounts are included in Note 16 “Stock Compensation Plans” in the “Notes to Consolidated Financial Statements” included in the Corporation’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | The Corporation’s non-qualified deferred compensation plan provides retirement benefits that are based upon years of service and the employee’s compensation. The increase in value reflects the increase in number of years of service in 2012 and the change in the discount rate. See Note 16 “Pension Plans” within the Annual Report on Form 10-K. Amounts listed for 2010 and 2011 have been revised from amounts previously disclosed to correct errors in prior year's actuarial calculations. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | Please see the table below for a breakdown of the terms and amounts comprising All Other Compensation. |
|--------|-----|--------------------------------------------------------------------------------------------------------|

|   | (4) | Mr. Tabas served as Chairman and Chief Executive Officer of the Corporation during 2012 and until the appointment of F. Kevin Tylus as President and Chief Executive Officer of the Corporation on February 20, 2013.  Mr. Tabas also served Chairman and Chief Executive Officer of Royal Bank America 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 Royal Bank America. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | (5) | Mr. McSwiggan retired effective June 30, 2012.  In connection with his retirement, Mr. McSwiggan and the Corporation entered into a six-month consulting agreement effective July 1, 2012.  Amounts paid to Mr. McSwiggan under his consulting agreement from July 1, 2012 to December 31, 2012 are included under the column All Other Compensation. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (6) | Mr. Stempel served as Vice Chairman of the Corporation and Royal Bank America until his retirement from that position on December 31, 2012.  Mr. Stempel continues to serve as a director of the Corporation and Royal Bank America. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (7) | Mr. Kuehl served as the Chief Financial Officer of the Corporation and Royal Bank America until September 2012 when he was appointed Chief Administrative Officer of the Corporation and Royal Bank America. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (8) | Mr. Thompson served as the Corporation’s Chief Accounting Officer until September 2012 when he was appointed Chief Financial Officer of the Corporation and Royal Bank America. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Components of All Other Compensation |   |
|--------------------------------------|--------|
|                                 |   |   |   |   |   |  401 (k) |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                 |   |   | Automobile |   |   | Employer |   |   | Director |   |   | Club dues |   |   | Other |   |   |   |   |
|                                 |   |   | Benefit |   |   | Contribution |   |   | Fees |   |   | Allowance |   |   | Compensation |   |   | Total |   |
| Name                                 | Year   |   | ($) (1) |   |   | ($) |   |   | ($) |   |   | ($) |   |   | ($) (2) |   |   | ($) |   |
|                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Robert R. Tabas                      | 2012   |   |   | - |   |   |   | 110 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 110 |   |
|                                 | 2011   |   |   | - |   |   |   | 2,500 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,500 |   |
|                                 | 2010   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
|                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| James J. McSwiggan                   | 2012   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 186,523 |   |   |   | 186,523 |   |
|                                 | 2011   |   |   | - |   |   |   | 2,500 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,500 |   |
|                                 | 2010   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | - |   |
|                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Murray Stempel III                   | 2012   |   |   | - |   |   |   | 110 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 110 |   |
|                                 | 2011   |   |   | - |   |   |   | 2,500 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,500 |   |
|                                 | 2010   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
|                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Robert A. Kuehl                      | 2012   |   |   | - |   |   |   | 110 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 110 |   |
|                                 | 2011   |   |   | - |   |   |   | 2,500 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,500 |   |
|                                 | 2010   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
|                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Michael S. Thompson                  | 2012   |   |   | 4,783 |   |   |   | 110 |   |   |   | - |   |   |   | - |   |   |   | 26,773 |   |   |   | 31,666 |   |
|                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

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

|   | (2) | For Mr. McSwiggan, the Other Compensation reflects the fees received as a resulting of a consulting agreement following his retirement on June 30, 2012 and the payout of unused PTO.  For Mr. Thompson, the Other Compensation reflects a retention payment and previously unpaid PTO. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Outstanding Equity Awards Table |   |
|---------------------------------|--------|
|                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                            |   | Option Awards |   | Stock Awards |   |
|                            |   |   |   |   |   |   |   | Equity Incentive |   |   |   |   |   |   |   |   |   |   |   |
|                            |   |   |   |   |   |   |   | Plan Awards |   |   |   |   |   |   |   |   |   |   |   |
|                            |   | Number of |   |   | Number of |   |   | Number of |   |   |   |   |   |   | Number of |   |   | Market Value |   |
|                            |   | Securities |   |   | Securities |   |   | Securities |   |   |   |   |   |   | Shares or Units |   |   | of Shares or |   |
|                            |   | Underlying |   |   | Underlying |   |   | Underlying |   |   | Option |   |   |   | of Stock That |   |   | Units of Stock |   |
|                            |   | Unexercised |   |   | Unexercised |   |   | Unexercised |   |   | Exercise |   | Option |   | Have Not |   |   | That Have |   |
| Name and Principal              |   | Options (#) |   |   | Options (#) |   |   | Unearned |   |   | Price |   | Expiration |   | Vested |   |   | Not Vested |   |
| Position                        |   | Exercisable |   |   | Unexercisable |   |   | Options(#) |   |   | ($) |   | Date |   |   | (#) |   |   | ($) |   |
|                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Robert R. Tabas                 |   |   | 9,497 |   |   |   | - |   |   |   | - |   |   | $ | 18.27 |   | 04/21/13 |   |   | - |   |   | $ | - |   |
| Principal Executive Officer     |   |   | 20,679 |   |   |   | - |   |   |   | - |   |   | $ | 22.38 |   | 04/22/14 |   |   | - |   |   | $ | - |   |
| Chairman and CEO                |   |   | 9,333 |   |   |   | - |   |   |   | - |   |   | $ | 21.88 |   | 06/16/15 |   |   | - |   |   | $ | - |   |
|                            |   |   | 11,901 |   |   |   | - |   |   |   | - |   |   | $ | 21.78 |   | 06/29/16 |   |   | - |   |   | $ | - |   |
|                            |   |   | 5,486 |   |   |   | - |   |   |   | - |   |   | $ | 20.08 |   | 07/18/17 |   |   | - |   |   | $ | - |   |
|                            |   |   | 7,480 |   |   |   | 1,870 |   |   |   | - |   |   | $ | 4.50 |   | 10/07/18 |   |   | - |   |   | $ | - |   |
|                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Murray Stempel, III             |   |   | 7,914 |   |   |   | - |   |   |   | - |   |   | $ | 18.27 |   | 04/21/13 |   |   | - |   |   | $ | - |   |
| Vice Chairman                   |   |   | 17,231 |   |   |   | - |   |   |   | - |   |   | $ | 22.38 |   | 04/22/14 |   |   | - |   |   | $ | - |   |
|                            |   |   | 7,779 |   |   |   | - |   |   |   | - |   |   | $ | 21.88 |   | 06/16/15 |   |   | - |   |   | $ | - |   |
|                            |   |   | 10,160 |   |   |   | - |   |   |   | - |   |   | $ | 21.78 |   | 06/29/16 |   |   | - |   |   | $ | - |   |
|                            |   |   | 4,600 |   |   |   | - |   |   |   | - |   |   | $ | 20.08 |   | 07/18/17 |   |   | - |   |   | $ | - |   |
|                            |   |   | 6,240 |   |   |   | 1,560 |   |   |   | - |   |   | $ | 4.50 |   | 10/07/18 |   |   | - |   |   | $ | - |   |
|                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Robert A Kuehl                  |   |   | 5,200 |   |   |   | 1,300 |   |   |   | - |   |   | $ | 4.50 |   | 10/07/18 |   |   | - |   |   | $ | - |   |
| Chief Administrative Officer    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Michael S. Thompson             |   |   | 975 |   |   |   | - |   |   |   | - |   |   | $ | 18.27 |   | 04/21/13 |   |   | - |   |   | $ | - |   |
| Principal Financial Officer     |   |   | 2,219 |   |   |   | - |   |   |   | - |   |   | $ | 22.38 |   | 04/22/14 |   |   | - |   |   | $ | - |   |
| Chief Financial Officer         |   |   | 2,022 |   |   |   | - |   |   |   | - |   |   | $ | 21.88 |   | 06/16/15 |   |   | - |   |   | $ | - |   |
|                            |   |   | 2,112 |   |   |   | - |   |   |   | - |   |   | $ | 21.78 |   | 06/29/16 |   |   | - |   |   | $ | - |   |
|                            |   |   | 1,109 |   |   |   | - |   |   |   | - |   |   | $ | 20.08 |   | 07/18/17 |   |   | - |   |   | $ | - |   |
|                            |   |   | 3,760 |   |   |   | 940 |   |   |   | - |   |   | $ | 4.50 |   | 10/07/18 |   |   | - |   |   | $ | - |   |
|                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

Table of Contents

| Class   |   | Annual Cap |    |   |            | Percentage of Base |   |   | Percentage of Bonus |   |
|---------|--------|------------|---------|--------|-----------------|--------------------|--------|--------|---------------------|--------|
|    |   |       |    |   |            |               |   |   |                |   |
| Group 1 |   | $          | 185,000 |   | Base component  |               |   | 50     | %                   |   |   | 25 | % |
|    |   | $          | 80,000  |   | Bonus component |               |   |   |                |   |   |   |   |
|    |   |       |    |   |            |               |   |   |                |   |   |   |   |
| Group 2 |   | $          | 50,000  |   |            |               |   | 35     | %                   |   |   | 0 | % |
|    |   |       |    |   |            |               |   |   |                |   |   |   |   |
| Group 3 |   | $          | 20,000  |   |            |               |   | 20     | %                   |   |   | 0 | % |

----

Table of Contents

----

Table of Contents

| Non- Qualified Deferred Compensation Table |                                   |
|--------------------------------------------|----------------------------------------|
| Name and Principal Position                | Plan Name                              |   | Number of Years Credited Service (#) |   |   | Present Value of Accumulated Benefit ($) |   |   | Payments During Last Fiscal Year ($) |   |
|                                       |                                   |   |   |   |   |   |   |   |   |   |
| Robert R. Tabas                            | Royal Bank America                     |   |   | 26 |   |   | $ | 1,700,108 |   |   | $ | - |   |
| Principal Executive Officer                | Supplemental Executive Retirement Plan |   |   |   |   |   |   |   |   |   |   |   |   |
| Chairman and CEO                           |                                   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                       |                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| James J. McSwiggan                         | Royal Bank America                     |   |   | 21 |   |   | $ | 2,095,590 |   |   | $ | - |   |
| President and COO                          | Supplemental Executive Retirement Plan |   |   |   |   |   |   |   |   |   |   |   |   |
|                                       |                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Murray Stempel, III                        | Royal Bank America                     |   |   | 19 |   |   | $ | 1,555,131 |   |   | $ | - |   |
| Vice Chairman                              | Supplemental Executive Retirement Plan |   |   |   |   |   |   |   |   |   |   |   |   |
|                                       |                                   |   |   |   |   |   |   |   |   |   |   |   |   |

----

Table of Contents

|   | a) | Annual retainer of $10,000 (This retainer is paid quarterly.  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). |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Director Compensation Table |   |
|-----------------------------|--------|
|                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                        |   |   |   |   |   |   |   |   |   |   |   |   |   | Change in |   |   |   |   |   |   |   |
|                        |   |   |   |   |   |   |   |   |   |   |   |   |   | Pension |   |   |   |   |   |   |   |
|                        |   |   |   |   |   |   |   |   |   |   |   |   |   | Value and |   |   |   |   |   |   |   |
|                        |   | 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) |   |   | ($) (1) |   |   | ($) |   |   | ($) |   |   | ($) |   |   | ($) |   |
|                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Edward F. Bradley           |   | $ | 57,650 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 57,650 |   |
| William R. Hartman          |   | $ | 58,100 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 58,100 |   |
| Wayne R. Huey, Jr.          |   | $ | 13,300 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 13,300 |   |
| Anthony J. Micale (2)       |   | $ | 29,717 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 29,717 |   |
| Michael J. Piracci          |   | $ | 38,150 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 38,150 |   |
| Jay H. Shah (3)             |   | $ | 7,100 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 7,100 |   |
| Linda Tabas Stempel         |   | $ | 28,000 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 28,000 |   |
| Edward B. Tepper            |   | $ | 42,500 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 42,500 |   |
| Gerard M. Thomchick         |   | $ | 38,250 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 38,250 |   |
| Howard Wurzak               |   | $ | 39,950 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 39,950 |   |

|   | (1) | No stock awards or stock options were made during 2012. |
|--------|-----|---------------------------------------------------------|

|   | (2) | Mr. Micale’s service as a director ended in August of 2012 due to his resignation. |
|--------|-----|------------------------------------------------------------------------------------------|

|   | (3) | Mr. Shah’s service as a director ended in March of 2012 due to his resignation. |
|--------|-----|---------------------------------------------------------------------------------------|

----

Table of Contents

| 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 |   |
| Edward B. Tepper             |   |   | 9,739 |   |   |   | - |   |   |   | 9,739 |   |
| Gerard M. Thomchick          |   |   | - |   |   |   | - |   |   |   | - |   |
| Howard Wurzak                |   |   | 9,739 |   |   |   | - |   |   |   | 9,739 |   |

|   | Edward B. Tepper, Chairman |
|--------|----------------------------|
|   | William R. Hartman         |
|   | Gerard M. Thomchick        |

----

Table of Contents

| 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  |                                                                                                                 |   |   | - |   |

| 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 |   |

----

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                                                                          |   | 69     |   |      | 2008     |   |   |           | 20,000  |   |           |      | 0.18 | % |   |   | - |   |   |   | 0.00 | % |
| Linda Tabas Stempel (1) (2) (3) (4)                                                        |   | 61     |   |      | 2003     |   |   |           | 688,030 |   |           |      | 6.19 | % |   |   | - |   |   |   | 0.00 | % |
| Howard Wurzak (2)                                                                          |   | 58     |   |      | 1987     |   |   |           | 948,457 |   |           |      | 8.53 | % |   |   | 76,366 |   |   |   | 3.78 | % |
| Class II Director Nominees                                                                 |   |   |   |      |     |   |   |           |    |   |           |      |   |   |   |   |   |   |   |   |   |   |
| William R. Hartman                                                                         |   | 64     |   |      | 2011     |   |   |           | 5,000   |   |           |      | 0.04 | % |   |   | - |   |   |   | 0.00 | % |
| Murray Stempel, III (2) (4)                                                                |   | 58     |   |      | 1997     |   |   |           | 742,603 |   |           |      | 6.68 | % |   |   | - |   |   |   | 0.00 | % |
| Robert R. Tabas (1) (2) (5)                                                                |   | 57     |   |      | 1988     |   |   |           | 940,346 |   |           |      | 8.46 | % |   |   | 82,683 |   |   |   | 3.96 | % |
| Class III Directors                                                                        |   |   |   |      |     |   |   |           |    |   |           |      |   |   |   |   |   |   |   |   |   |   |
| F. Kevin Tylus                                                                             |   | 58     |   |      | 2013     |   |   |           | 16,667  |   |           |      | 0.15 | % |   |   | - |   |   |   | 0.00 | % |
| Michael J. Piracci                                                                         |   | 67     |   |      | 2010     |   |   |           | -       |   |           |      | 0.00 | % |   |   | - |   |   |   | 0.00 | % |
| Edward B. Tepper                                                                           |   | 74     |   |      | 1986     |   |   |           | 41,171  |   |           |      | 0.37 | % |   |   | 13 |   |   |   | 0.00 | % |
| Other Directors (6)                                                                        |   |   |   |      |     |   |   |           |    |   |           |      |   |   |   |   |   |   |   |   |   |   |
| Wayne R. Huey, Jr.                                                                         |   | 68     |   |      | 2011     |   |   |           | 10,000  |   |           |      | 0.09 | % |   |   | - |   |   |   |   |   |
| Gerard M. Thomchick                                                                        |   | 57     |   |      | 2011     |   |   |           | -       |   |           |      | 0.00 | % |   |   | - |   |   |   | 0.00 | % |
|                                                                                       |   |   |   |      |     |   |   |           |    |   |           |      |   |   |   |   |   |   |   |   |   |   |
| Non-Director Executive Officer                                                             |   |   |   |      |     |   |   |           |    |   |           |      |   |   |   |   |   |   |   |   |   |   |
| Robert A. Kuehl (7)                                                                        |   | 64     |   |      | N/A      |   |   |           | 8,200   |   |           |      | 0.07 | % |   |   | - |   |   |   | 0.00 | % |
| Michael S. Thompson (8)                                                                    |   | 41     |   |      | N/A      |   |   |           | 12,997  |   |           |      | 0.12 | % |   |   | - |   |   |   | 0.00 | % |
|                                                                                       |   |   |   |      |     |   |   |           |    |   |           |      |   |   |   |   |   |   |   |   |   |   |
| All directors and executive officers as a group (13 persons) and Daniel M. Tabas Trust (9) |   |   |   | 2,753,510 |     |   |   | 24.76          | %       |   |           | 1,279,811 |   |   |   | 63.34 | % |

|   | (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 2,634,047 shares of Class A common stock (23.69% of Class A) and 1,279,798 shares of Class B common stock (63.34% of Class B) or 30.93% 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) | Ms. Stempel disclaims beneficial interest in, and therefore the amount in the table above does not include, 249,650 Class A and 82,919 Class B shares held in the Linda Tabas Stempel Trust since she does not have voting or dispositive power over the shares. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (4) | 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 voting and dispositive power for a grandchild of Evelyn Tabas. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (5) | As a result of the Company 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 Company. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (6) | 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 Officer. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (7) | Mr. Thompson became the Corporation’s Chief Financial Officer in September 2012.  Prior to September 2012, Mr. Thompson served as the Corporation’s Chief Accounting Officer. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (8) | The number of shares included in total for directors, officers and the Daniel Tabas Trust has been reduced by 679,961 shares to eliminate the same shares beneficially held by both Linda Tabas Stempel and her husband, Murray Stempel, III. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Table of Contents

|                       |   | 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 |   |   |   | 55.47 | % |
| 915 Montgomery Avenue      |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
| Narberth, PA 19072         |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
|                       |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
| Evelyn R. Tabas (2) (3)    |   |           | 573,835   |   |           |   | 5.16 | % |   |   | 164,991 |   |   |   | 8.17 | % |
| 543 Mulberry Lane          |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
| Narberth, PA 19072         |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
|                       |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
| Lee Evan Tabas (4)         |   |           | 1,370,679 |   |           |   | 12.33 | % |   |   | 149,662 |   |   |   | 7.41 | % |
| 355 W. Lancaster Avenue    |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
| Haverford, PA 19041        |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
|                       |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
| Carol Tabas (5)            |   |           | 641,601   |   |           |   | 5.78 | % |   |   | - |   |   |   | 0.00 | % |
| 39 Rosemont Lane           |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
| Pittsburgh, PA 15217       |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
|                       |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
| Susan Tabas Tepper (6)     |   |           | 604,995   |   |           |   | 5.44 | % |   |   | - |   |   |   | 0.00 | % |
| 717 Eagle Farm Road        |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
| Villanova, PA 19085        |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |
|                       |   |           |      |   |           |   |   |   |   |   |   |   |   |   |   |   |

| (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: (a) 22,367 shares of Class A common stock owned and voted solely by Evelyn R. Tabas and 6,489 options currently exercisable to purchase shares of Class A common stock, (b) 249,650 Class A and 82,919 Class B shares in the Linda Tabas Stempel Trust, and (c) 219,074 Class A and 82,041 Class B shares in the Carol Tabas Stofman Trust. |

| (3) | Evelyn R. Tabas has sole power to vote and dispose of 76,255 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. Lee Tabas disclaims beneficial interest in, and therefore the table does not include, 284,564 Class A and 84,857 Class B shares held in the Lee Evan Tabas Trust since he does not have voting or dispositive power over the shares. |

| (5) | The shares beneficially owned by Carol Tabas consist of 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 and 36,606 Class A shares in the Lily Ashley Stofman Trust of which she has sole voting power.                                                                                                                                                                                 |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (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 does not include, 265,277 Class A shares 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. |

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Table of Contents

| 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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Table of Contents

|   | ROYAL BANCSHARES OF PENNSYLVANIA, INC. |
|--------|----------------------------------------|
|   |                                   |
|   | By: /s/ Michael S. Thompson            |
|   | Michael S. Thompson                    |
|   | Chief Financial Officer                |
|   | (Principal Financial Officer           |
|   | and Principal Accounting Officer)      |
|   | May 20, 2013                           |

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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 Annual Report on Form 10-K for the year ended December 31, 2008.) |
|--------------------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 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 March 15, 2005 (Incorporated by reference to the Company’s Registration Statement N0. 333-135226, on Form S-8 filed with the Commission on June 22, 2006.)* |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.2 | 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.)* |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Table of Contents

|   | 10.3 | 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.)* |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.4 | 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.)* |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.5 | 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.) |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.6 | 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.) |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.7 | 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.) |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.8 | Employment Agreement, dated June 1, 2008, between the Company, Royal Bank America and Robert A. Kuehl.*  (Incorporated by reference to Exhibit 10.15 to the Company’s Amendment No. 2 on Form 10-K/A filed on November 13, 2009.) |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.9 | 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.) |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.10 | 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.) |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.11 | SERP Participation Agreement, as amended — James J. McSwiggan.* (Incorporated by reference to Exhibit 10.7 to the Company’s Quarterly Report on Form 10-Q filed on November 13, 2009.) |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.12 | SERP Participation Agreement, as amended — Murray Stempel.* (Incorporated by reference to Exhibit 10.8 to the Company’s Quarterly Report on Form 10-Q filed on November 13, 2009.) |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.13 | Form of Written Agreement between the Company and the Federal Reserve Bank of Philadelphia dated as of March 17, 2010.  (Incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the Commission on March 18, 2010.) |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Table of Contents

|   | 10.14 | Consulting Agreement, dated as of July 12, 2012, among James J. McSwiggan, Royal Bancshares of Pennsylvania, Inc., and Royal Bank America. (Incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on June 20, 2012.) |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 11. | Statement re: Computation of Earnings Per Share.  (Included at Item 8, hereof, Note 18, “Earnings Per Common Share”.)** |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   | 12. | Statement re: Computation of Ratios. (Included at Item 8 here of, Note 15, “Regulatory Capital Requirements.”)** |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------|

|   | 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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