FOR IMMEDIATE RELEASE             FOR FURTHER INFORMATION CONTACT:
- ---------------------             --------------------------------
November 9, 2005                  Vito S. Pantilione, President and CEO
                                  Ernest D. Huggard, Senior Vice President, CFO
                                  (856) 256-2500



                Parke Bancorp, Inc. Announces 5% Stock Repurchase

         Washington Township,  New Jersey - Parke Bancorp, Inc. (Nasdaq:  PKBK),
the holding company for Parke Bank,  announced today that the Board of Directors
has authorized the Company to repurchase up to  approximately  115,000 shares or
5% of the Company's  outstanding common stock. The repurchases will be made from
time  to time  in  open  market  or  privately  negotiated  transactions  at the
discretion  of  management  during the next twelve  months,  or such  shorter or
longer time as the Company may decide, subject to the availability of stock. The
timing  of  the  repurchases   will  depend  on  market   conditions  and  other
requirements. Mr. Vito S. Pantilione,  President of the Company, stated that "we
believe our stock  represents  an excellent  investment  for the Company and our
repurchases  could  potentially  mitigate the possible  dilutive  effects of the
Company's stock benefit plans."

         Parke  Bancorp,  Inc. was  incorporated  in January  2005. It commenced
operations on June 1, 2005, with the completion of the  reorganization  of Parke
Bank  into  the  holding  company  form of  organization.  Parke  Bancorp,  Inc.
maintains its principal  office at 601 Delsea Drive,  Washington  Township,  New
Jersey.  It conducts its banking  business  through  Parke Bank which has branch
offices  located in  Northfield,  New Jersey and two branch  offices  located in
Washington  Township,  New Jersey.  In addition,  the Bank has a loan production
office in  Philadelphia.  Parke Bank is a full service  commercial bank, with an
emphasis on providing  personal and business  financial  services to individuals
and small to mid-sized businesses in Gloucester,  Atlantic and Cape May Counties
in New Jersey and the Philadelphia  area 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 Stock
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.