#stock repurchase #Parke Bancorp #PKBK

Parke Bancorp's New Stock Repurchase Plan: A Move Towards Enhanced Shareholder Value

On May 22, 2026, Parke Bancorp, Inc. (NASDAQ: PKBK) made a significant announcement that is set to have a substantial impact on its stockholders. The Company’s Board of Directors has officially approved a new stock repurchase program, which allows for the repurchase of up to 5% of its common shares over the next twelve months. This move reflects Parke Bancorp's commitment to enhance shareholder value and indicates confidence in its financial standing and market position.

Details of the Repurchase Program

The repurchase plan enables the Company to utilize an open market strategy, adhering to the guidelines established by Rule 10b-18 of the Securities Exchange Act of 1934. The specifics surrounding when and how many shares will be repurchased depend on various factors, including stock price, corporate obligations, regulatory requirements, and overall market conditions. This flexibility allows Parke Bancorp to make informed decisions that best align with both market trends and shareholder interests.

Company Background

Founded in January 2005, Parke Bancorp serves as the holding entity for Parke Bank, which has been operational since January 1999. The Company’s headquarters are located at 601 Delsea Drive, in Washington Township, New Jersey. Parke Bank stands out as a full-service commercial bank, offering a range of personal and business financial services, primarily targeting individuals and small businesses in Gloucester, Atlantic, and Cape May counties in New Jersey and surrounding areas in Philadelphia, Pennsylvania.

Parke Bancorp is proud to note that its deposits are insured by the Federal Deposit Insurance Corporation (FDIC), ensuring a high level of safety for depositors. Trading on the NASDAQ Capital Market under the ticker symbol