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ROYAL BANK OF PENNSYLVANIA REPORTS FIRST QUARTER EARNINGS INCREASE OF 140 PERCENT AND CONTINUED STRENGTH IN CAPITAL

 NARBERTH, Pa., May 4 /PRNewswire/ -- Royal Bank of Pennsylvania (NASDAQ: RBPAA) announced today that earnings for the first quarter of 1993 were $1,520,320 as compared to $633,348 for the same period ended March 31, 1992.
 Return on average assets and shareholder's equity were 2.1 percent and 10.9 percent, respectively, as compared to 1.0 percent and 4.8 percent, respectively, for the same period ended March 31, 1992.
 Royal Bank of Pennsylvania's total assets on March 31, 1993, were $286,988,361 compared to $255,485,535 on March 31, 1992. Net loans and mortgages on March 31, 1993, were $170,138,447 compared to $157,916,452 for the same period ended March 31, 1992. The allowance for loan loss was $10,544,600 on March 31, 1993, as compared to $7,637,676 on March 31, 1992. The loan loss reserve as a percentage of total loans was 5.5 percent vs. 4.6 percent on March 31, 1992.
 Lee Tabas, president of Royal Bank of Pennsylvania, said, "We are continuing to make progress at resolving nonperforming assets. Nonperforming assets have decreased for five consecutive quarters to $19.6 million on March 31, 1993. As the bank's asset quality continues to improve, we will look for profitable ways to invest our strong capital position."
 Capital rose to $57,484,149 this year from $52,996,038 for the same quarter end last year. Book value of the bank's stock was $8.49 this quarter as compared to $7.79 for the same period last year. Earnings per share were $.22 this quarter from $.09 for the same quarter last year. The per share income is based on the weighted average number of shares outstanding.
 Royal Bank of Pennsylvania, with nine offices in the region, serves to growing businesses with annual sales of up to $25 million and features a special division for professionals in health care, legal and other fields. Executive offices are located in Narberth, with offices in King of Prussia, Phoenixville, Bridgeport, Trooper and Philadelphia.
 /delval/
 -0- 5/4/93
 /CONTACT: Dave Greenfield of Royal Bank of Pennsylvania, 215-668-4700/
 (RBPA)


CO: Royal Bank of Pennsylvania ST: Pennsylvania IN: FIN SU: ERN

MK-CC -- PH024 -- 4411 05/04/93 14:41 EDT
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Date:May 4, 1993
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