PARKE BANCORP, INC. ANNOUNCES CASH DIVIDEND

Company Overview - Parke Bancorp, Inc was incorporated in January 2005 while Parke Bank commenced operations in January 1999 [1] - The company maintains its principal offices at 601 Delsea Drive, Washington Township, New Jersey [1] - Parke Bank operates through multiple branch offices in New Jersey and Pennsylvania including Northfield, Washington Township, Galloway Township, Collingswood, and two locations in Philadelphia [1] - The bank focuses on providing personal and business financial services to individuals and small-sized businesses primarily in Gloucester, Atlantic, and Cape May counties in New Jersey and Philadelphia and surrounding counties in Pennsylvania [1] - Parke Bank's deposits are insured by the FDIC up to the maximum legal amount [1] - Parke Bancorp's common stock is traded on the NASDAQ Capital Market under the symbol "PKBK" [1] Dividend Announcement - Parke Bancorp declared a $0 18 per share cash dividend payable on July 19, 2024 to stockholders of record as of July 5, 2024 [2] - The Board anticipates paying cash dividends on a quarterly basis subject to determination and declaration by the Board of Directors [4] - Future dividends may be reduced or eliminated based on the company's financial condition and applicable legal and regulatory restrictions [4]