Royal Bancshares of Pennsylvania (RBPAA) in Narberth, Pa., has hired a former executive at PNC Financial Services Group (PNC) to run its bank.
F. Kevin Tylus was named president and chief executive of Royal Bank America, the $795 million-asset company said Tuesday. He also joined the bank's board, effective immediately. The appointment completes a transition plan outlined in April when three top Royal Bancshares executives, including CEO Robert R. Tabas, announced plans to retire.
Tylus was president of Yardville National Bank from 2004 to 2007 and served on the board of the bank's parent company's from 1991 to 2007. PNC tapped him to become regional president of its central New Jersey region after buying Yardville in 2008.
"Tylus' banking experience is the perfect fit for Royal as we complete our management succession," Tabas said in a press release. "He brings a combination of community bank and large bank experience, and a history of repositioning and growing businesses in challenging industries while building cohesive management teams and organizations."
In September, Royal changed some of its top management. Robert Kuehl, the company's former chief financial officer, took on the newly created position of chief administrative officer. Michael Thompson, Royal's chief accounting officer, succeeded Kuehl as CFO. Mary Kay Shea, who had been the company's controller, succeeded Thompson.
Tabas, who has been the company's CEO since 2009, will remain the company's chairman after retiring as an officer.