8-K

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934

Date of Report (Date of earliest event report) May 16, 2007.

ROYAL BANCSHARES OF PENNSYLVANIA, INC.

(Exact name of registrant as specified in its charter)

PENNSYLVANIA

(State or Other Jurisdiction of Incorporation)

0-26366
(Commission File Number) 23-2812193
(IRS Employer Identification Number)

732 Montgomery Avenue, Narberth, Pennsylvania
(Address of Principal Executive Office) 19072
(Zip Code)

610-668-4700
(Issuer’s telephone number, including area code)

N/A
(Former Name or Former Address, if Change Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provision:

o Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 8 — Other Events

Item 8.01 Other Events.

On May 16, 2007, the Board of Directors of Royal Bancshares of Pennsylvania, Inc. authorized a stock repurchase program under which the Company may acquire up to 5% of the outstanding common shares.

Section 9 — Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

      (d.) Exhibits

Exhibit Number	Description of Document
99.1	Press Release dated May 16, 2007.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Royal Bancshares of Pennsylvania, Inc.
Dated: May 16, 2007	/s/ James J. McSwiggan
	James J. McSwiggan
	Chief Operating Officer

EX-99.1

Exhibit 99.1

Royal Bank America Media Alert

For additional information:
Marc Sanders, Director of Marketing
610-668-4700 x269 — marcsanders@royalbankamerica.com

ROYAL BANK AMERICA PARENT CO. ANNOUNCES STOCK REPURCHASE PLAN

NARBERTH, PA — May 16, 2007 —Chairman Robert R. Tabas announced that the Board of Directors of Royal Bancshares of Pennsylvania, Inc. (“Royal”) (NASDAQ: RBPAA) has authorized the repurchase, from time to time, of up to 5% of the outstanding common shares of the company in the open market or in negotiated transactions, depending upon market conditions and in line with prudent capital management and other factors over a twelve-month period.

Tabas noted, “We believe the current valuation of Royal shares represent an attractive investment and as such feel this plan is both an effective use of our company’s capital and a tangible representation of our commitment to enhancing shareholder value.”

About Royal Bancshares of Pennsylvania, Inc.

Royal Bancshares of Pennsylvania, Inc., headquartered in Narberth, Pennsylvania, operates seventeen full-service branch offices throughout southeastern Pennsylvania and New Jersey under the name Royal Bank America and five locations under the name Royal Asian Bank. Together, Royal Bank America and Royal Asian Bank, along with Royal’s other affiliates, offer a wide variety of products and services, including commercial real estate loans, asset based lending, structured financing, equipment leasing, equity/mezzanine lending, high-yielding CDs & MMAs and Internet Banking solutions at www.royalbankamerica.com and www.royalasianbank.com.