Sec Form 4 Filing - TABAS LEE E @ ROYAL BANCSHARES OF PENNSYLVANIA INC - 2006-07-28

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person TABAS LEE E 2. Issuer Name and Ticker or Trading Symbol ROYAL BANCSHARES OF PENNSYLVANIA INC [ RBPAA] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) ONE DOVE LANE 3. Date of Earliest Transaction (MM/DD/YY) 07/28/2006 (Street) HAVERFORD, PA 19041, PA19041 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Royal Bancshares of Pennsylvania Class A Common 07/28/2006 P 1,823 A $ 12.317 1,823 D Royal Bancshares of Pennsylvania Class A Common 07/28/2006 P 1,736 A $ 12.512 3,559 D Royal Bancshares of Pennsylvania Class A Common 07/28/2006 P 1,638 A $ 18.819 5,197 D Royal Bancshares of Pennsylvania Class A Common 07/28/2006 P 1,591 A $ 19.191 6,788 D Royal Bancshares of Pennsylvania Class A Common 07/28/2006 P 1,560 A $ 23.51 8,348 D Royal Bancshares of Pennsylvania Class A Common 07/28/2006 P 1,530 A $ 22.975 9,878 ( 2 ) D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Royal Bancshares of Pennsylvania $ 12.317 07/28/2006 M 1,823 04/19/2000 04/19/2010 Royal Bancshares of Pennsylvania 1,823 $ 0 0 D Royal Bancshares of Pennsylvania $ 12.512 07/28/2006 M 1,736 04/19/2001 04/19/2011 Royal Bancshares of Pennsylvania Class A Common 1,736 $ 0 0 D Royal Bancshares of Pennsylvania $ 18.819 07/28/2006 M 1,638 04/19/2002 04/19/2012 Royal Bancshares of Pennsylvania Class A Common 1,638 $ 0 0 D Royal Bancshares of Pennsylvania $ 19.191 07/28/2006 M 1,591 04/21/2003 04/21/2013 Royal Bancshares of Pennsylvania Class A Common 1,591 $ 0 0 D Royal Bancshares of Pennsylvania $ 23.51 07/28/2006 M 1,560 04/22/2004 04/22/2014 Royal Bancshares of Pennsylvania Class A Common 1,560 $ 0 0 D Royal Bancshares of Pennsylvania $ 22.975 07/28/2006 M 1,530 06/16/2005 06/16/2015 Royal Bancshares of Pennsylvania Class A Common 1,530 $ 0 0 ( 1 ) D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other TABAS LEE E ONE DOVE LANE HAVERFORD, PA 19041, PA19041 X Signatures Kimberly Plisinski, Royal Bancshares of Pennsylvania, as Power of Attorney for Lee Tabas 08/02/2006 Signature of Reporting Person Date

Explanation of Responses:

( 1 )As of 8-2-06, Lee Tabas has 0 unexercised stock options. ( 2 )As of 8-2-06 Lee Tabas has 291,416 Non Derivative Securities

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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