PARKE BANCORP, INC. ANNOUNCES STOCK REPURCHASE PLAN

Parke Bancorp (NASDAQ: PKBK) authorized a stock repurchase program allowing buybacks of up to 5% of its common stock over the next twelve months, unless completed sooner or extended.

Rhea-AI Summary

Parke Bancorp (NASDAQ: PKBK) authorized a stock repurchase program allowing buybacks of up to 5% of its common stock over the next twelve months, unless completed sooner or extended.

Open market purchases are expected to follow Rule 10b-18 and will depend on price, regulatory requirements and market conditions.

Positive

• Board authorizes repurchase of up to 5% of common stock over 12 months
• Open-market buybacks expected to follow Rule 10b-18 limitations

Negative

• None.

Argus May 22 session

+1.06% close to close Open Argus

Details

News Market Reaction – PKBK

On May 22, the day this news came out, PKBK closed 1.06% above the previous close.

Data tracked by StockTitan Argus for the May 22 session.

Key Figures

Repurchase authorization: 5% of common stock Program duration: twelve months

Repurchase authorization

5% of common stock

New stock repurchase program

Program duration

twelve months

Repurchase period unless completed sooner or extended

Previous Buybacks Reports

1 past event · Latest: Aug 02

Same Type 1 event

1. Aug 02

   Stock repurchase plan

   24h Move

   -0.8%

   Board approved buyback of up to 5% of common stock over 12 months.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

stock repurchase program, rule 10b-18, federal deposit insurance corporation, fdic, +1 more

5 terms

stock repurchase program financial

"approved a stock repurchase program to allow repurchases of up to 5% of the"

A stock repurchase program is when a company buys back its own shares from the market. This can make each remaining share more valuable and shows that the company believes its stock is a good investment. It’s like a business treating its shares like a limited resource, hoping to boost confidence and share prices.

rule 10b-18 regulatory

"purchases are intended to be conducted in accordance with the limitations set forth in Rule 10b-18"

Rule 10b-18 is a regulation that sets strict rules for how a company's executives and employees can buy back their own company's stock from the market. It helps ensure that these buybacks happen in a fair and transparent way, reducing the chance of market manipulation. This is important for investors because it offers protection against unfair practices and promotes confidence in the integrity of the stock market.

federal deposit insurance corporation regulatory

"Parke Bank's deposits are insured up to the maximum legal amount by the Federal Deposit Insurance Corporation"

A U.S. government agency that insures customer deposits at member banks up to a set limit, acting like a safety net so people don’t lose their cash if a bank fails. It matters to investors because it helps maintain confidence in the banking system, reduces the chance of sudden withdrawals or bank runs, and can influence the stability and share prices of banks and financial markets.

fdic regulatory

"deposits are insured up to the maximum legal amount by the Federal Deposit Insurance Corporation (FDIC)."

The Federal Deposit Insurance Corporation (FDIC) is a U.S. government agency that protects individual and business bank deposits by insuring accounts up to a set limit, acting like a safety net for savers if a bank fails. It matters to investors because FDIC insurance reduces the chance of sudden losses for depositors, supports confidence in the banking system, and can influence the perceived risk and stock value of banks and financial firms.

forward-looking statements regulatory

"This release may contain forward-looking statements. Such forward-looking statements are subject"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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WASHINGTON TOWNSHIP, N.J., May 22, 2026 /PRNewswire/ -- Parke Bancorp, Inc. (the "Company") (NASDAQ: PKBK) today announced its Board of Directors approved a stock repurchase program to allow repurchases of up to 5% of the Company's common stock during the next twelve months, unless completed sooner or otherwise extended. Open market purchases are intended to be conducted in accordance with the limitations set forth in Rule 10b-18 of the Securities Exchange Act of 1934.

The timing and actual number of shares repurchased will depend on a variety of factors, including price, corporate and regulatory requirements and other market conditions.

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.

View original content:https://www.prnewswire.com/news-releases/parke-bancorp-inc-announces-stock-repurchase-plan-302779266.html

SOURCE Parke Bancorp, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Parke Bancorp (NASDAQ: PKBK) announce on May 22, 2026?

Parke Bancorp announced a new stock repurchase program authorizing buybacks of its common shares. According to Parke Bancorp, the plan permits repurchases of up to 5% of its common stock over twelve months, subject to price, regulatory requirements and other market conditions.

How large is the Parke Bancorp PKBK stock repurchase plan and how long will it last?

The Parke Bancorp stock repurchase plan authorizes buybacks of up to 5% of its common stock. According to Parke Bancorp, the authorization runs for the next twelve months, unless the company completes the repurchases sooner or decides to extend the program.

When will Parke Bancorp begin repurchasing PKBK shares under the new buyback authorization?

Parke Bancorp did not specify an exact start date for repurchases under the plan. According to Parke Bancorp, the timing and actual number of PKBK shares repurchased will depend on price, corporate and regulatory requirements, and prevailing market conditions.

Under what rules will Parke Bancorp conduct its PKBK stock repurchases?

Parke Bancorp expects to conduct its stock repurchases in line with Rule 10b-18. According to Parke Bancorp, open-market purchases of PKBK common stock are intended to follow Rule 10b-18 limitations under the Securities Exchange Act of 1934 to structure the program.

How could Parke Bancorp's new stock repurchase plan affect PKBK shareholders?

The plan authorizes Parke Bancorp to buy back up to 5% of its common stock. According to Parke Bancorp, the actual impact on shareholders will depend on how many PKBK shares are repurchased, when purchases occur, and overall market and regulatory conditions.

Where does Parke Bancorp do business and what markets does Parke Bank serve?

Parke Bank operates branches in several New Jersey communities and in Philadelphia. According to Parke Bancorp, the bank focuses on personal and business financial services for individuals and small businesses in Gloucester, Atlantic and Cape May counties in New Jersey and the Philadelphia region.