James McSwiggan, President and COO of Royal Bancshares of Pennsylvania Inc. (RBPAA) and Edward Shin, President and CEO of Royal Asian Bank, announced that an ownership group led by Shin has entered into an agreement to acquire Royal Asian Bank.
As of June 30, 2010, Royal Asian Bank had assets of about $94.53 million, deposits of about $81.34 million and loans of about $66.16 million (net of its loan allowance).
The transaction is expected to be completed by the end of this year, pending regulatory approval.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.