PARKE BANCORP, INC. ANNOUNCES STOCK REPURCHASE PLAN

Stock Repurchase Plan - The company's Board of Directors approved a plan to repurchase up to 5% of its common stock over the next twelve months, subject to completion or extension [1] - Repurchases will be conducted in accordance with Rule 10b-18 of the Securities Exchange Act of 1934, with specific price, market volume, and timing constraints [1][2] Management's Perspective - The stock repurchase program is a key component of the company's capital management strategies [2] - Management believes the company's stock is an attractive investment at current prices and that repurchasing shares will enhance shareholder value [2] Company Overview - Parke Bancorp, Inc was incorporated in January 2005, while Parke Bank commenced operations in January 1999 [2] - The company maintains principal offices at 601 Delsea Drive, Washington Township, New Jersey [2] - Parke Bank operates through multiple branch offices in New Jersey and Pennsylvania, focusing on personal and business financial services for individuals and small businesses [2] - The bank's deposits are insured by the FDIC up to the maximum legal amount [2] - Parke Bancorp's common stock trades on the NASDAQ Capital Market under the symbol "PKBK" [2]