SOURCE: Royal Bancshares of Pennsylvania
NARBERTH, PA--(Marketwire - Dec 1, 2011) - Royal Bank America, the primary banking subsidiary of Royal Bancshares of Pennsylvania, Inc. (NASDAQ: RBPAA), today announced the hiring of Ralph A.Citino as Senior Vice President - Small Business Lending. Citino most recently served as Small Business Banking Director at WSFS Bank.
Royal Chairman and CEO Robert R. Tabas noted, "Over the past several months we have taken bold steps to reposition our bank for the future, shifting our focus towards building partnerships with the small and mid-sized businesses whose ideas and energy will drive job growth and development in our region. We are pleased to welcome Ralph Citino, a seasoned leader and relationship-driven lender."
Tabas continued, "With the launch of our 'Spur The Economy' program in 2009 we committed to becoming a catalyst for regional economic growth. As we have continued to strengthen our organization we have pursued all opportunities to achieve this goal. Today we count dozens of successful partnerships with small businesses who have bucked the overall economic trends and have found ways to carve distinctive niches for their products and services."
Mr. Citino will lead a team that includes experienced relationship managers Jo Grech and Greg Olijynk and is further strengthened by the community banking professionals at Royal Bank America's 15 locations.
Established in 1963, Royal Bank America initially grew in size and reputation based on its commercial real estate business. In recent years Royal has reduced its concentration in commercial real estate lending and narrowed its footprint from nationwide to Philadelphia and the surrounding region. Small business loans under $2 million accounted for 64% of the company's lending during the past 24 months, a number that has steadily risen as our nation has come to depend more and more on small and mid-sized businesses to stimulate job growth and heal our economy.
Information on Royal's small business solutions, including working capital lines of credit and SBA loans is available at www.royalbankamerica.com and www.spurtheeconomy.com.
About Royal Bancshares of Pennsylvania, Inc.
Royal Bancshares of Pennsylvania, Inc., headquartered in Narberth, Pennsylvania, is the parent company of Royal Bank America, which for the past nearly 50 years has played a lead role in the growth and development of our region by empowering small businesses, entrepreneurs and individuals to achieve their financial goals and enrich our communities. More information on Royal Bancshares of Pennsylvania, Inc., Royal Bank America and its subsidiaries can be found at www.royalbankamerica.com.
Forward Looking Statements
The foregoing material 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 of Pennsylvania, Inc. 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. For a discussion of the factors that could cause actual results to differ from the results discussed in any such forward-looking statements, see the filings made by Royal Bancshares of Pennsylvania, Inc. with the Securities and Exchange Commission, including its Annual Report -- Form 10-K for the year ended December 31, 2010.