SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2013

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

Below are the consolidated balance sheets and changes in shareholder equity statements that show the previously issued financial statement, the error correction, and the restated balances.

Royal Bancshares of Pennsylvania, Inc and Subsidiaries

Restatement of the Consolidated Balance Sheet

At December 31, 2012	As Originally Reported			Adjustment			As Restated
	(In thousands)
Assets
Total cash and cash equivalents	$	28,802		$	-		$	28,802
Investment securities AFS, at fair value		349,203			-			349,203
Other investment, at cost		2,250			-			2,250
FHLB stock, at cost		6,011			-			6,011
Loans and leases held for sale		1,572			-			1,572
Loans and leases, net		326,904			-			326,904
Bank owned life insurance		14,585			-			14,585
Accrued interest receivable		10,256			-			10,256
OREO, net		13,435			-			13,435
Premises and equipment, net		5,232			-			5,232
Other assets		15,466			(4,261	)		11,205
Total assets	$	773,716		$	(4,261	)	$	769,455
Liabilities
Total deposits	$	554,917		$	-		$	554,917
Long-term borrowings		108,333			-			108,333
Subordinated debentures		25,774			-			25,774
Accrued interest payable		3,760			-			3,760
Other liabilities		22,517			586			23,103
Total liabilities		715,301			586			715,887
Shareholders' equity
Preferred stock		29,396			-			29,396
Common stock		23,065			-			23,065
Additional paid in capital		126,287			-			126,287
Accumulated deficit		(117,080	)		(4,797	)		(121,877	)
Accumulated other comprehensive loss		(142	)		-			(142	)
Treasury stock		(6,971	)		-			(6,971	)
Noncontrolling interest		3,860			(50	)		3,810
Shareholders' equity		58,415			(4,847	)		53,568
Total liabilities and shareholders' equity	$	773,716		$	(4,261	)	$	769,455

Royal Bancshares of Pennsylvania, Inc and Subsidiaries

Restatement of Consolidated Statement of Changes in Shareholders' Equity

At January 1, 2012	As Originally Reported			Adjustment			As Restated
	(In thousands)
Preferred stock	$	28,878		$	-		$	28,878
Class A common stock		22,723			-			22,723
Class B common stock		208			-			208
Additional paid in capital		126,245			-			126,245
Accumulated deficit		(100,803	)		(4,797	)		(105,600	)
Accumulated other comprehensive income		800			-			800
Treasury stock		(6,971	)		-			(6,971	)
Noncontrolling interest		4,865			(50	)		4,815
Total shareholders' equity	$	75,945		$	(4,847	)	$	71,098