Exhibit 99

Parke Bancorp, Inc.

601 Delsea Drive,

Washington Township, NJ 08080

Contact:

Vito S. Pantilione, President and CEO

John F. Hawkins, Senior Vice President and CFO

(856) 256-2500

PARKE BANCORP, INC. ANNOUNCES FOURTH QUARTER EARNINGS AND RECORD 2019 YEARLY EARNINGS

Highlights:

Net Income for the year: $29.8 million, increased 22.3% over 2018

Total Assets:                                    $1.68 billion, increased 14.6% over 2018

Total Loans:                                    $1.42 billion, increased 14.4% over 2018

Total Deposits:                                $1.34 billion, increased 13.1% over 2018

WASHINGTON TOWNSHIP, NJ, January 22, 2020 - Parke Bancorp, Inc. (“Parke Bancorp”) (NASDAQ: “PKBK”), the parent company of Parke Bank, announced its operating results for the quarter and year ended December 31, 2019.

Highlights for the fourth quarter and year ended December 31, 2019:

The following is a recap of the significant items that impacted the fourth quarter and the year ended December 31, 2019 period:

Interest income increased $3.5 million and $17.7 million for the fourth quarter and year ended December 31, 2019 periods, respectively, compared to the same periods in 2018 primarily due to higher loan volumes and higher yields on loans. In addition, a $1.8 million increase in interest income from federal funds sold and deposits with banks also contributed to the increase in interest income for 2019. Interest expense increased $2.0 million and $8.9 million for the fourth quarter of 2019 and the year ended December 31, 2019, respectively, compared to the same periods in 2018, primarily due to higher deposit volumes and interest rates.

The provision for loan and lease losses increased $50,000 for the fourth quarter of 2019 and increased $900,000 for the year ended December 31, 2019 compared to the same periods in 2018. The increase in the provision was primarily due to increased loan volumes.

For the fourth quarter of 2019 and the year ended December 31, 2019, non-interest income increased $59,000 and $432,000, respectively, compared to the same periods of 2018, with the increase primarily attributable to increased fee income from deposit accounts and decreased net losses on sale of OREO, partially offset by decrease in gains on the sale of SBA loans and decrease in income from loan fees.

Non-interest expense increased $338,000 and $1.7 million for the fourth quarter and the year ended December 31, 2019, respectively, compared to the same periods of 2018, primarily due to an increase in compensation, professional services, data processing cost, partially offset by decrease in deposits insurance assessment fees. The increases in non-interest expenses for the quarter and the year mainly reflect the growth of the business.

Income tax expense increased $433,000 for the fourth quarter of 2019, and increased $1.4 million for the year ended December 31, 2019, compared to the same periods in 2018. The effective tax rates for the quarter and year ended December 31, 2019 were 24.2% and 24.4%, respectively, compared to 22.4% and 25.1% for the same periods in 2018.

December 31, 2019 discussion of financial condition

CEO outlook and commentary

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

2019 was a great year for Parke Bancorp and our shareholders. We generated record earnings of close to $30.0 million. Our company’s assets grew over 15% with the continued strength of our loan portfolio growth. The growth of our deposit base kept pace with our loan portfolio expansion, growing over 13%. The financial strength of the Company was supported by close to a 16% growth in our total equity. Management and staff continue to work hard and efficiently keeping our very important cost efficiency ratio below 30%, one of the best in the banking industry.

The economy remained strong in 2019 with unemployment continuing at record lows while inflation remains under control and GDP growth. This was accomplished while the global economy falters, again providing confidence in the strength of the United States economy. 2020, although an election year which could pose uncertainty, looks like it could be another good year. The strength of the economy appears to have supported the Feds putting on hold any additional interest rate adjustments at the end of 2019, with no indication of any planned increases. Our company is again well positioned to take advantage of market opportunities with strong earnings, strong equity and an expanding market share.

This release may contain forward-looking statements. Such forward-looking statements are subject to risks and uncertainties which may cause actual results to differ materially from those currently anticipated due to a number of factors; our ability to continue to generate strong net earnings; our ability to continue to reduce our nonperforming loans and delinquencies and the expenses associated with them; our ability to realize a high recovery rate on disposition of troubled assets; our ability to take advantage of opportunities in the improving economy and banking environment; our ability to continue to pay a dividend in the future; our ability to enhance shareholder value in the future; our ability to continue growing our Company and support our profitability; our ability to prudently expand our operations in our market and in new markets; our ability to tightly control expenses; and our ability to continue to grow our loan portfolio, therefore, readers should not place undue reliance on any forward-looking statements. Parke Bancorp, Inc. does not undertake, and specifically disclaims, any obligations 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 circumstance.

Financial Supplement:

Table 1: Condensed Balance Sheet (Unaudited)

Parke Bancorp, Inc. and Subsidiaries

Consolidated Balance Sheets

Table 2: Consolidated Income Statement (Unaudited)

Table 3: Operating Ratios

Table 4: Asset Quality Data