[PARKE BANCORP, INC. LETTERHEAD]


FOR IMMEDIATE RELEASE                FOR FURTHER INFORMATION CONTACT:
- ---------------------                --------------------------------
March 29, 2007                       Vito S. Pantilione, President and CEO
                                     Robert A. Kuehl, Senior Vice President, CFO
                                     (856) 256-2500

                PARKE BANCORP, INC. ANNOUNCES 10% STOCK DIVIDEND

         Washington  Township,  New Jersey-March  29, 2007 -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% a stock  dividend.  The stock  dividend  is payable on April 23,
2007, to stockholders of record as of April 12, 2007.

         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.
This stock  dividend  follows the  Company's  recent  special  cash  dividend in
December 2006. As a result of the Board's action today,  the outstanding  shares
of the Company's  common stock will increase by  approximately  287,386  shares,
from 2,873,860 shares outstanding to 3,161,246 shares outstanding."

         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,  two branch
offices  located in  Washington  Township,  New  Jersey  and its  newest  branch
facility in Philadelphia on 1610 Spruce Street. In addition, Parke Bank opened a
new loan  production  office in Millville,  New Jersey in 2006.  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.