Attached files
| file | filename |
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| 8-K - FORM 8-K - PARKE BANCORP, INC. | f8k_042710-0343.htm |
| FOR IMMEDIATE RELEASE |
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FOR FURTHER INFORMATION
CONTACT:
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April
27, 2010
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Vito
S. Pantilione, President and CEO
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John
F. Hawkins, Senior Vice President, CFO
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(856)
256-2500
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PARKE
BANCORP, INC. ANNOUNCES A 10% STOCK DIVIDEND
Washington
Township, New Jersey-April 27, 2010 – Parke Bancorp, Inc. (Nasdaq: “PKBK”)
Washington Township, New Jersey, the parent 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 21, 2010, to
stockholders of record as of May 11, 2010.
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 actions today, the outstanding shares of the Company’s
common stock will increase by approximately 403,464 shares, from 4,034,639
shares outstanding to 4,438,103 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
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.