Parke Bancorp, Inc. Announces Stock Repurchase Program

Parke Bancorp, Inc. announced that its Board of Directors has approved a stock repurchase program. The program allows for the repurchase of up to 5% of the Company's common stock over the next twelve months, or until completed or extended. Purchases will be made on the open market in accordance with SEC regulations, with the timing and number of shares repurchased dependent on factors such as stock price, corporate and regulatory requirements, and market conditions. The company also provided a brief overview of its history, operations, and financial services, emphasizing its focus on individuals and small businesses in New Jersey and Pennsylvania. Forward-looking statements included in the release are subject to risks and uncertainties that could cause actual results to differ materially from expectations.