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Royal Bancshares of Pennsylvania Q4 income down

Royal Bancshares of Pennsylvania has reported a net income of $3.46 million for the fourth quarter ended December 31, 2007, compared to a net income of $5.51 million for the corresponding period of 2006.

For the full-year period ended December 31, 2007, net income was $564,000 compared to $21.57 million in 2006. Consolidated total assets were $1.28 billion as on December 31, 2007.

Joseph Campbell, president and CEO of the bank, said: The reduction in earnings from 2006 to 2007 shines a light on the prevailing conditions in the commercial and residential real estate market.