Royal Bancshares of Pennsylvania, the publicly traded bank founded and operated by the Tabas family, is being acquired by Bryn Mawr Bank Corp., parent of the Bryn Mawr Trust Co., for $127 million, t
he (Philadelphia)
Jewish Exponent
reported.
The acquisition includes branches of Royal Bank America, based in Narberth, Pa.
Daniel Tabas, the late father of Royal Bank chairman Robert Tabas, bought the bank in 1980 and took it public in 1983. The family has not been involved in day-to-day operations for the past four years, Robert Tabas told the
Exponent
.
The family has also owned and operated hotels. They still own Hilton, Hyatt and Sheraton locations, the article said. (Source:
Jewish Exponent
, Feb, 9, 2017.)
-
1333 reads