Parke Bancorp (PKBK) Announces Increase In Quarterly Cash Dividend

Parke Bancorp, Inc. (the "Company") (Nasdaq: PKBK), the bank holding company of Parke Bank, today announced that the quarterly cash dividend will be increased from $0.14 to $0.16, effective with the July 2019 dividend payment.

Vito S. Pantilione, President and Chief Executive Officer of Parke Bancorp and Parke Bank, provided the following statement:

"Our Board of Directors is strongly committed to enhancing shareholder value in our Company. We are able to increase our dividend as a result of the continued profitability and financial strength of the Company."

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.

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