<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex99.txt
<DESCRIPTION>EXHIBIT 99 - PRESS RELEASE
<TEXT>
FOR IMMEDIATE RELEASE      FOR FURTHER INFORMATION CONTACT:
---------------------      --------------------------------
October 17, 2006           Vito S. Pantilione, President and CEO
                           Ernest D. Huggard, Senior Vice President, CFO
                           (856) 256-2500

PARKE BANCORP,  INC.  REPORTS A RECORD NET INCOME  INCREASE OF 35% FOR THE FIRST
NINE MONTHS IN 2006

     Washington Township,  New Jersey -- October 17, 2006 - Parke Bancorp,  Inc.
(Nasdaq:  "PKBK"),  Washington Township,  New Jersey, today announced net income
for the nine months ended  September 30, 2006 of $3.4 million,  or $1.02 diluted
income  per share,  compared  to net income of $2.5  million,  or $0.80  diluted
income per share, a 35.2% increase over the same period last year.

     Total  assets  grew by $47.6  million,  or  16.0%,  to  $345.4  million  at
September  30,  2006,  compared to $297.8  million at December  31,  2005.  This
increase was  primarily  due to strong loan growth of $41.8  million,  or 16.1%,
resulting in total loans of $300.8 million at September 30, 2006, as compared to
total  loans of $259.0  million at  December  31,  2005.  Investment  securities
increased  $1.6  million,  or 6.6%,  from $24.4 million at December 31, 2005, to
$26.0 million at September 30, 2006. The allowance for loan losses  increased by
21.7%,  or $771,500,  to $4.3 million,  or 1.4%, of total loans at September 30,
2006.

     Deposits  increased by a robust $39.2 million,  or 16.9%, to $271.3 million
at September  30,  2006,  from $232.1  million at December 31, 2005.  Borrowings
increased by $4.6 million, or 12.7%, to $40.6 million at September 30, 2006 from
$36.0 million at December 31, 2005.

     Net income was $3.4 million, or $1.02 fully diluted earnings per share, for
the nine  months  ended  September  30,  2006,  compared  to net  income of $2.5
million,  or $0.80 fully diluted  earnings per share,  for the nine months ended
September  30,  2005.  The $900  thousand,  or 35.2%,  increase in net income is
attributable  primarily to increases in net interest income of $2.4 million,  or
30.8%,  to $10.0  million for the nine  months  ended  September  30,  2006,  as
compared  to net  interest  income of $7.7  million  for the nine  months  ended
September 30, 2005.

     Interest income increased $6.2 million,  or 51.0%, to $18.5 million for the
nine months ended  September 30, 2006,  as compared to interest  income of $12.2
million for the same period in 2005.  Interest  expense also increased from $4.6
million for the nine  months  September  30,  2005 to $8.5  million for the nine
months ended September 30, 2006,  which represents an increase of 84.7%, or $3.9
million.  The continued  deposit growth and rising interest rates  attributed to
the increase in interest expense.

     Non-interest expense increased 24.0%, or $805 thousand, to $4.2 million for
the nine months ended  September 30, 2006, from $3.4 million for the nine months
ended  September  30,  2005.  The  increase  is  primarily  attributable  to the
additional  employees needed for our recently opened Philadelphia office and our
new loan production office in Millville, NJ..


                                       1
<PAGE>
     According to our  President  and CEO,  Vito  Pantilione,  "Parke  Bancorp's
continued  exceptional  growth and increased  profitability is reflective of our
focus on personal banking services at competitive rates. The recent softening of
the real estate market creates increased challenges to the banking industry. Our
commitment  to  providing  our loan  customers  with a quick  response  and loan
structure  that is flexible is reflected in the $41.8 million growth in our loan
portfolio.  It always comes down to people,  and I am proud of our employees for
their commitment to A Return to Better Banking."

     Parke  Bancorp,  Inc.  was  incorporated  in January  2005 while Parke Bank
commenced  operations  in January 1999.  Parke  Bancorp  maintains its principal
office at 601 Delsea Drive,  Washington  Township,  New Jersey.  It conducts its
bank business  through branch offices  located in  Northfield,  New Jersey,  two
branch offices located in Washington Township,  New Jersey and its newest branch
in Philadelphia on 1610 Spruce Street.  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 primarily 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."


SELECTED FINANCIAL CONDITION DATA
<TABLE>
<CAPTION>
                                                           SEPTEMBER 30,      DECEMBER 31,      CHANGE
                                                               2006              2005              %
                                                           -------------      ------------      ------
                                                         (in thousands)     (in thousands)
<S>                                                         <C>                 <C>             <C>
Total assets                                                $345,430            $297,810        16.0%
Cash and cash equivalents                                     $8,201              $4,380        87.2%
Investment securities                                        $26,049             $24,429         6.6%
Loans receivable, net                                       $296,450            $255,461        16.0%
Deposits                                                    $271,299            $232,056        16.9%
Other borrowings                                             $40,548             $35,967        12.7%
Stockholders' equity                                         $30,053             $27,193        10.5%
</TABLE>

SELECTED FINANCIAL RATIOS
<TABLE>
<CAPTION>
                NINE MONTHS ENDED                                SEPTEMBER             SEPTEMBER
                                                                   2006                  2005
                                                                   ----                  ----
<S>                                                                 <C>                  <C>
Return on average assets                                            1.1%                 1.3%
Return on average equity                                           11.7%                12.5%
Interest rate spread                                                3.8%                 3.9%
Net interest rate margin                                            4.3%                 4.3%
Efficiency ratio                                                   39.2%                43.9%
</TABLE>

                                       2
<PAGE>

SELECTED OPERATIONS DATA
<TABLE>
<CAPTION>
                NINE MONTHS ENDED                        SEPTEMBER 30,         SEPTEMBER 30,       CHANGE
                                                             2006                  2005                %
                                                             ----                  ----                -
                                                       (in thousands)       (in thousands)
<S>                                                       <C>                    <C>                <C>
Interest and dividend income                              $18,481                $12,238            51.0%
Interest expense                                           $8,481                 $4,591            84.7%
   Net interest income                                    $10,000                 $7,647            30.8%
Provision for loan losses                                    $774                   $806            (4.0)%
Net interest income after
   provision for loan losses                               $9,226                 $6,841            34.9%
Non-interest income                                          $612                   $709           (13.6)%
Non-interest expense                                       $4,155                 $3,351            24.0%
Income before income taxes                                 $5,683                 $4,199            35.3%
Provision for income taxes                                 $2,270                 $1,674            35.6%
Net income                                                 $3,413                 $2,525            35.2%

Basic income per share                                      $1.21                   $.94            28.7%
Diluted income per share                                    $1.02                   $.80            27.5%

Weighted shares - basic                                 2,814,597              2,682,287
Weighted shares - diluted                               3,344,241              3,152,287

  ASSET QUALITY DATA
</TABLE>
<TABLE>
<CAPTION>
                                                                SEPTEMBER 30,         DECEMBER 31,
                                                                     2006                 2005
                                                                     ----                 ----
                                                                (in thousands)       (in thousands)
<S>                                                                 <C>                  <C>
Allowance for loan losses                                           $4,345               $3,574
Percentage of allowance for
   loan losses of total loans                                         1.4%                 1.4%
Non-accrual loans                                                   $1,916               $1,935
Repossessed assets                                                    $460                 $485
</TABLE>


         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.


                                       3
</TEXT>
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