PARKE BANCORP, INC. ANNOUNCES CASH DIVIDEND

Rhea-AI Summary

Parke Bancorp (NASDAQ: PKBK) has declared a quarterly cash dividend of $0.18 per share, payable on July 18, 2025, to stockholders of record as of July 3, 2025. The bank, operating through multiple branches in New Jersey and Philadelphia, focuses on providing personal and business financial services to individuals and small businesses in Gloucester, Atlantic, Cape May counties in NJ and Philadelphia area in PA. While the Board intends to maintain quarterly dividend payments, future distributions may be reduced or eliminated based on various factors including the company's financial condition and regulatory restrictions.

Positive

• Consistent quarterly dividend payment of $0.18 per share maintained
• Strong branch presence across New Jersey and Philadelphia markets
• Deposits backed by FDIC insurance

Negative

• Future dividends may be reduced or eliminated based on financial conditions
• Subject to regulatory restrictions that could impact dividend payments

WASHINGTON TOWNSHIP, N.J., June 20, 2025 /PRNewswire/ -- Parke Bancorp, Inc. (the "Company") (NASDAQ: PKBK) today announced the declaration of a $0.18 per share cash dividend, payable on July 18, 2025, to its stockholders of record as of the close of business on July 3, 2025.

The Board anticipates paying cash dividends on a quarterly basis, subject to determination and declaration by the Board of Directors, which will take into account a number of factors, including the financial condition of the Company and the Bank, and any applicable legal and regulatory restrictions on the payment of dividends by the Company. If paid, such dividends may be reduced or eliminated in future periods.

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, a branch office in Collingswood, New Jersey, a branch in center city Philadelphia and a branch in Chinatown in 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. Such forward-looking statements are subject to risks and uncertainties which may cause actual results to differ materially from those currently anticipated due to a number of factors; our ability to maintain a strong capital base; our ability to continue to pay a dividend in the future; our ability to enhance shareholder value in the future; our earnings and shareholders' equity; and the possibility of additional corrective actions or limitations on the operations of Parke Bancorp and Parke Bank being imposed by banking regulators, therefore, readers should not place undue reliance on any forward-looking statements. Parke Bancorp, Inc. does not undertake, and specifically disclaims, any obligations 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 circumstance.

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SOURCE Parke Bancorp, Inc.

FAQ

What is the dividend amount and payment date for PKBK stock?

Parke Bancorp (PKBK) declared a cash dividend of $0.18 per share, payable on July 18, 2025, to stockholders of record as of July 3, 2025.

How often does Parke Bancorp (PKBK) pay dividends?

The Board anticipates paying cash dividends on a quarterly basis, subject to determination and declaration by the Board of Directors.

What regions does Parke Bank operate in?

Parke Bank operates in Gloucester, Atlantic and Cape May counties in New Jersey, and Philadelphia and surrounding counties in Pennsylvania through multiple branch locations.

Are Parke Bank deposits FDIC insured?

Yes, Parke Bank's deposits are insured up to the maximum legal amount by the Federal Deposit Insurance Corporation (FDIC).

What factors could affect PKBK's future dividend payments?

Future dividends may be affected by the company's financial condition, the Bank's performance, and any applicable legal and regulatory restrictions on dividend payments.