Parke Bank Named One of the Top 20 Community Banks by Bank Director

WASHINGTON TOWNSHIP, N.J., Sept. 28, 2023 /PRNewswire/ -- Parke Bancorp, Inc. (the "Company") (NASDAQ: PKBK)  – is pleased to announce Parke Bank has been named to the Bank Director's Ranking Banking: The Best U.S. Banks 2023 as one of the Top 20 performing banks across the nation amongst its peer group ($1 billion to $5 billion). Bank Director analyzed a consistent set of metrics to assess performance, based on calendar year 2022 results: return on average equity and return on average assets, the tangible common equity ratio, nonperforming assets and total shareholder return. The data divided banks into three asset categories: $50 billion and above, $5 billion to $50 billion and $1 billion to $5 billion. S&P Global Market Intelligence provided the data, which was analyzed by Piper Sandler & Co.

Parke Bank is honored to receive this recognition and to be listed alongside the most respected banks in the country.

The Bank Director's list of Best U.S. Banks 2023 was announced on August 15, 2023 and can currently be viewed on the Bank Director website.

About Parke Bank

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".

SOURCE Parke Bancorp, Inc.