EX-99 2 ex99-1.txt EXHIBIT 99.1 -------------------------------------------------------------------------------- [Graphic Omitted: Royal Bank Logo] MEDIA ALERT ------------------- ------------------------------------------------------------ FOR IMMEDIATE RELEASE CONTACT: Marc Sanders, Director of Marketing 610-668-4700 x277 marcsanders@royalbankamerica.com ROYAL BANK AMERICA'S PARENT COMPANY DECLARES 40TH CONSECUTIVE QUARTERLY CASH DIVIDEND AND REPORTS 1ST QUARTER EARNINGS (NARBERTH, PA) - April 21, 2005 - Royal Bank America reports that consolidated earnings for its holding company, Royal Bancshares of Pennsylvania, Inc., (NASDAQ-RBPAA) for the three-month period ended March 31, 2005 and 2004, were $4.3 million and $5.2 million, respectively. Consolidated basic earnings per share for the three-month period ended March 31, 2005 and 2004, were $0.34 and $0.41, respectively. Consolidated total assets increased 2% to $1.23 billion at March 31, 2005, as compared to $1.21 billion at December 31, 2004. Loans increased to $479 million at March 31, 2005, as compared to $455 million at December 31, 2004, an increase of 5%. Total consolidated shareholders' equity ended the quarter at $139 million. On April 20, 2005, the Board of Directors of Royal Bancshares of Pennsylvania, Inc. declared its 40th consecutive quarterly cash dividend. This dividend will be twenty-five cents ($.25) per share for holders of Class A common stock and twenty-eight and seventy-five hundredths cents ($.2875) per share for holders of Class B common stock of Royal Bancshares of Pennsylvania, Inc. The record date is May 4, 2005, and the payment date is May 18, 2005. Royal Bancshares of Pennsylvania, headquartered in Narberth, Pennsylvania, operates sixteen full-service branches under the name Royal Bank America and five locations under the name Royal Asian Bank. Together, Royal Bank America and Royal Asian Bank offer a wide variety of products and services, including commercial real estate loans, residential mortgages, deposit accounts and Internet Banking solutions at www.royalbankamerica.com and www.royalasianbank.com. The foregoing material is unaudited and may contain forward-looking statements. We caution that such statements may be subject to a number of uncertainties, and actual results could differ materially; therefore, readers should not place undue reliance on any forward-looking statements. Royal Bancshares does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. Joseph P. Campbell, President and CEO Royal Bancshares of Pennsylvania, Inc Parent Company of Royal Bank America ------------------- ------------------------------------------------------------ -------------------------------------------------------------------------------- ROYAL BANCSHARES OF PENNSYLVANIA CONDENSED INCOME STATEMENTS THREE MONTHS ENDED MAR. 31 (in thousands, except for earnings per share) 2005 2004 ---- ---- (UNAUDITED) (UNAUDITED) Interest Income $17,204 $17,528 Interest Expense 7,366 6,730 ------- ------- Net Interest Income 9,838 10,798 Provision for Loan Losses 1 1 ------- ------- Net Interest Income after 9,837 10,797 Provision Non Interest Income 2,613 3,183 Non Interest Expense 6,359 6,576 ------- ------- Income before Taxes 6,091 7,404 Income Taxes 1,770 2,240 ------- ------- Net Income $4,321 $5,164 ======= ======= Earnings per share -basic $0.34 $0.41 SELECTED RATIOS: Return on Average Assets 1.4% 1.8% Return on Average Equity 12.5% 15.0% Average Equity to Assets 11.4% 12.0% Book Value Per Share $11.09 $11.11 CONDENSED BALANCE SHEETS (in thousands) MAR. 31, 2005 DEC. 31, 2004 (UNAUDITED) Cash and Cash Equivalents $28,172 $27,109 Investment Securities 586,624 584,261 Loans Held for Sale 1,469 2,204 Loans (net) 479,310 454,775 Premises and Equipment (net) 70,913 72,433 Accrued Interest receivable 16,382 15,634 Other Assets 48,156 48,858 ---------- ---------- Total Assets $1,231,026 $1,205,274 ========== ========== Deposits $670,772 $742,382 Borrowings 376,041 278,249 Other Liabilities 16,406 14,338 Subordinated debentures 25,774 25,774 Minority Interest 2,892 3,655 Shareholders' Equity 139,141 140,876 ---------- ---------- Total Liabilities and Shareholders Equity $1,231,026 $1,205,274 ========== ========== --------------------------------------------------------------------------------