Parke Bancorp, Inc. Announces 10% Stock Dividend
WASHINGTON TOWNSHIP, N.J., April 23, 2013
WASHINGTON TOWNSHIP, N.J., April 23, 2013 /PRNewswire/ --Parke Bancorp, Inc.
(the "Company") (Nasdaq: "PKBK"), the bank holding company of Parke Bank,
today announced that the Company's Board of Directors had declared a 10% stock
dividend. The stock dividend is payable on May 17, 2013, to stockholders of
record as of May 7, 2013.
Vito S. Pantilione, President of the Company, stated that the Board of
Directors "was pleased to declare this dividend as another method to increase
shareholder value in the Company and also increase the liquidity of the
stock. As a result of the Board's action today, the outstanding shares of the
Company's common stock will increase by approximately 541,612 shares, from
5,416,124 shares outstanding to 5,957,736 shares outstanding."
Parke Bancorp, Inc. was incorporated in January 2005 while Parke Bank
commenced operations in January 1999. Parke Bancorp and Parke Bank maintain
their principal offices at 601 Delsea Drive, Washington Township, New Jersey.
Parke Bank conducts business through a branch office in Northfield, New
Jersey, two branch offices in Washington Township, New Jersey, a branch office
in Galloway Township, New Jersey and a branch in center city Philadelphia.
Parke Bank is a full service commercial bank, with an emphasis 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. Parke Bank's
deposits are insured up to the maximum legal amount by the Federal Deposit
Insurance Corporation (FDIC). Parke Bancorp's common stock is traded on the
NASDAQ Capital Market under the symbol "PKBK".
This release may contain forward-looking statements. We caution that such
statements may be subject to a number of uncertainties and actual results
could differ materially and, therefore, readers should not place undue
reliance on any forward-looking statements. Parke Bancorp, Inc. does not
undertake, and specifically disclaims, any obligation to publicly release the
results of any revisions that may be made to any forward-looking statements to
reflect the occurrence of anticipated or unanticipated events or circumstances
after the date of such statements.
SOURCE Parke Bancorp, Inc.
Contact: Vito S. Pantilione, President and CEO, or John Hawkins, Senior Vice
President, CFO, (856) 256-2500
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