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Royal Bank America adds Residential Mortgage Product

BALA CYNWYD, Pa., July 12, 2016 -- Royal Bank America, a subsidiary of Royal Bancshares of Pennsylvania (NASDAQ:RBPAA), announced today an expansion of their consumer line of products to include residential and refinanced mortgages. Royal Bank began taking applications in their branches today.

Royal Bank serves as a mortgage broker under the new arrangement and is partnering with Conshohocken, Pa.-based GMH Mortgage Services, LLC to offer the mortgage products to consumers throughout Pennsylvania, New Jersey, Delaware and Maryland. At the outset, Royal Bank will offer 15-year and 30-year fixed-rate purchase-money (known as "first mortgages") and refinanced residential mortgages. Second home financing continues to be available through the Royal Bank's home equity loan and line of credit products which have served the market since 2013.

"Adding a residential mortgage product will allow us to more fully serve our customers as their needs evolve," said Kevin Tylus, Royal Banks's President and CEO. "We look forward to partnering with GMH, a local company with extensive experience in home mortgages. Royal Bank is a local community bank and our customers appreciate that we contribute to the local economy by partnering with other local businesses and organizations."

Within the last year, Royal Bank has expanded several product lines and has made notable enhancements to their customers' online banking experience. For consumers, the bank has introduced a new line of competitive deposit products, including online deposit account opening, online home equity account opening, and updates to their smartphone and tablet apps. A dedicated mobile app for business customers has been introduced and provides various cash management functions, including ACH and wire transfers and approvals, mobile deposits and electronic bill pay. Customized solutions, in addition to traditional lending, are available for commercial companies, public entities, law firms, nonprofit organizations and title companies.

Now in its fifty-third year, Royal Bank is well known for working with local firms to deliver high quality products. Its leasing subsidiary, Royal Bank America Leasing, offers equipment leasing solutions nationwide. Royal Bank also works with local firms to offer competitive merchant and payroll services.

About Royal Bancshares of Pennsylvania, Inc.Royal Bancshares of Pennsylvania, Inc., headquartered in Bala Cynwyd, Pennsylvania, is the parent company of Royal Bank America, which is headquartered in Narberth, Pennsylvania. Royal Bank serves growing small and middle market businesses, commercial real estate investors, consumers, and depositors principally in Montgomery, Delaware, Chester, Bucks, Philadelphia and Berks counties in Pennsylvania, central and southern New Jersey, and Delaware. Established in 1963, Royal Bank provides an array of financial products and services through a comprehensive suite of cash management services and thirteen branches and two loan production offices. More information on Royal Bancshares of Pennsylvania, Inc., Royal Bank America, and its subsidiaries can be found atwww.royalbankamerica.com.

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Royal Bancshares of Pennsylvania Inc. published this content on 12 July 2016 and is solely responsible for the information contained herein.
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