PARKE BANK
                      1999 NON-QUALIFIED STOCK OPTION PLAN


1.       Objectives
         ----------

         The objectives of this Plan are to assist Parke Bank (the "Company") in
attracting and retaining  qualified  employees and to promote the identification
of such employees' interests with those of the Company's shareholders.

2.       Definitions
         -----------

         "Board" shall mean the Board of Directors of the Company.

         "Corporate  Event"  shall mean an  occurrence  in which the  Company is
succeeded by another  corporation  in a  reorganization, merger,  consolidation,
acquisition of property or stock, separation or liquidation.

         "Date of Grant" in relation to any option granted under this Plan shall
mean the date on which the Board or the Committee grants that option.

         "Eligible  Employee" shall mean an officer (who may also be a director)
or an employee regularly employed on a salaried basis by the Company.

         "Exercise"  in  respect of any Option  shall mean the  delivery  by the
Optionee  to the  Company of (a)  written  notice of exercise of Options as to a
specified number of Shares; and (b) payment of the option price for such shares.

         "Option" shall mean a right to purchase Stock,  granted pursuant to the
Plan.

         "Optionee"  shall mean a person  holding an Option  granted  under this
Plan which has not been exercised or surrendered and has not expired.

         "Plan" means this 1999 Non-Qualified Stock Option Plan.

         "Shares" shall mean shares of Common stock,  par value $5.00 per share,
of the Company.

3.       Maximum Number of Shares to be Optioned and Adjustments in
         Optioned Shares
         -----------------------------------------------------------

         The maximum number of Shares for which Options may be granted hereunder
is 30,000.  This number shall be adjusted if the number of outstanding Shares of
the  Company  is  increased  or  reduced by  split-up,  reclassification,  stock
dividend  or the  like.  The  number  of  Shares  previously  optioned  and  not
theretofore delivered and the option price per Share shall likewise be

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adjusted  whenever the number of  outstanding  Shares is increased or reduced by
any  such  procedure.  Shares  for  which  Options  have  expired  or have  been
surrendered may again be optioned pursuant to the Plan.

4.       Administration and Interpretation
         ---------------------------------

         This Plan  shall be  administered  by a  committee  of the  Board  (the
"Committee").  The  Committee  may each  make  such  rules  and  establish  such
procedures as each deems appropriate for the administration of this Plan. In the
event of any  disagreement as to the  interpretation  of the Plan or any rule or
procedure  thereunder,  the decision of the Committee shall be final and binding
upon all persons in interest.

5.       Granting of Options
         -------------------

         The Board is authorized to grant Options to selected Eligible Employees
pursuant to this Plan. The number of Shares,  if any, optioned in each year, the
Eligible  Employees  to whom  Options  are  granted,  and the  number  of Shares
optioned to each Eligible  Employee shall be wholly within the discretion of the
Board, subject to the limitation that no Options shall be granted later than ten
years after the date this Plan is adopted by the Board, or the date this Plan is
approved by the shareholders of the Company, whichever is earlier.

6.       Terms of Options
         ----------------

         Subject to the  limitation  prescribed in section 5 above,  the Options
granted  under this Plan shall be on the terms stated in clauses (a) through (g)
below. The Board may specify additional terms not inconsistent with this Plan by
rules of general  application  or by specific  direction  in  connection  with a
particular group of Options.

         (a) The option  price shall be fixed by the Board but shall not be less
than  100% of the fair  market  value of the  underlying  Shares  on the date of
grant.

         (b) The  option  price  shall be payable  in cash,  property,  services
rendered  or,  under  certain  circumstances,  in shares of stock of the Company
having a fair market value equal to the option price on the date of exercise, or
any combination thereof.

         (c) The Options shall not be transferable otherwise than by will or the
laws of descent and distribution and shall be exercisable, during the Optionee's
lifetime, only by him.

         (d) The Options shall expire ten years after the date of grant,  unless
an earlier date is fixed by the Board.

         (e)  The  Options  shall  terminate  and may  not be  exercised  if the
Optionee ceases to be an employee of the Company,  except to the extent provided
in Section 7 hereof.

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         (f) If the  Company  is  succeeded  by  another  company  because  of a
Corporate  Event,  the successor  company shall assume the  outstanding  Options
granted  under this Plan or shall  substitute  new Options  for the  outstanding
Options.  In  determining  the  substitution  of Options,  the Optionee shall be
regarded  as if the  Optionee  had been the  holder of  record of the  number of
Shares which were subject to Options  immediately  prior to the Corporate Event.
The Optionee shall be entitled upon the exercise of such Options to receive such
securities of the surviving or resulting  corporation  as the Board of Directors
of such corporation shall determine to be equivalent,  as nearly as practicable,
to the nearest whole number and class of shares of stock or other  securities to
which the Optionee  would have been  entitled  under the terms of the  agreement
governing the Corporate Event.

         (g) The  granting of any Options  shall impose no  obligation  upon the
Optionee to exercise such Options.

7.       Exercise Rights upon Termination of Employment
         ----------------------------------------------

         (a) If an Optionee becomes disabled,  he or she may exercise his or her
Options within one year after the date of disability, but in no event later than
the date on which the Options  would have expired if the Optionee had not become
disabled.  During such period the  Options may be  exercised  only to the extent
that the Optionee was entitled to do so at the date of disability. To the extent
the Options are not so  exercised,  the Options  shall expire at the end of such
period.  For purposes of this Section  7(a),  an Optionee  shall be deemed to be
disabled if he or she is unable to engage in any substantial gainful activity by
reason of any medically  determinable physical or mental impairment which can be
expected to result in death or which has lasted or can be expected to last for a
continuous  period of more than 12 months.  The  Company  reserves  the right to
require the Optionee to provide medical evidence of such disability.

         (b) If an Optionee  dies during a period in which he or she is entitled
to exercise any Options  (including  the period  referred to in  subsection  (a)
above),  the Options shall terminate one year after the date of death, but in no
event  later  than the date on which  any  Options  would  have  expired  if the
Optionee  had lived.  During such period the  Options  may be  exercised  by the
Optionee's  executor or administrator or by any person or persons who shall have
acquired the Options  directly from the Optionee by bequest or inheritance.  The
Options may only be exercised to the extent that the Optionee was entitled to do
so at the date of death and, to the extent the Options are not so exercised, the
Options shall expire at the end of such period.

         (c) If an executive  officer of the Company ceases to be an employee of
the Company,  he or she may exercise Options granted  hereunder for a period not
to exceed three months after the date of such termination, but in no event later
than the date on which any  Options  would  have  expired  if the  Optionee  had
remained  an  employee  of the  Company.  During  such period the Options may be
exercised only to the extent that the Optionee was entitled to do so on the date
of  termination  of  employment  and,  to the  extent  the  Options  are  not so
exercised,  the Options shall expire at the end of such  six-month  period.  The
Optionee shall not have the right to exercise any

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Options if the Optionee's employment was terminated for "cause." Termination for
"cause" shall include  theft;  falsification  of records;  fraud;  embezzlement;
gross  negligence  or willful  misconduct;  causing  the  Company to violate any
federal,  state or local law, or administrative  regulation or ruling having the
force and effect of law;  insubordination;  conflict of  interest;  diversion of
corporate  opportunity;  or conduct  that  results in  publicity  that  reflects
unfavorably on the Company.

8.       Additional Requirements
         -----------------------

         Upon the  exercise  of any  Options  granted  hereunder  the  Board may
require the Optionee to deliver the following:

         (a) A written  statement  that the Optionee  (or such other  person) is
purchasing  the  Shares  for  investment  and  not  with  a  view  toward  their
distribution  or sale and will not sell or transfer any shares received upon the
exercise of the Options except in accordance with the Securities Act of 1933, as
amended, and applicable state securities laws;

         (b) Evidence reasonably satisfactory to the Company that at the time or
exercise the Optionee (or such other  Person) meets such other  requirements  as
the Board may determine; and

         (c) Evidence reasonably satisfactory to the Company that at the time of
exercise,  the exercise of the Options by the Optionee  (for such other  person)
and the  delivery  of  Shares  upon  exercise  by the  Company  comply  with all
applicable Federal and state securities laws.

9.       Common Stock Subject to Options
         -------------------------------

         The shares issuable upon exercise of Options  granted  hereunder may be
unissued shares or treasury shares,  including shares bought on the open market.
The Company at all times during the term of this Plan shall reserve for issuance
the number of Shares issuable upon exercise of Options granted hereunder.

10.      Compliance with Governmental and other Regulations
         --------------------------------------------------

         The Company will not be  obligated to issue and sell the Shares  issued
pursuant to Options  granted  hereunder if, in the opinion of its counsel,  such
issuance and sale would violate any applicable Federal or state securities laws.
The Company will seek to obtain from each regulatory commission or agency having
jurisdiction such authority as may be required to issue and sell Shares issuable
upon  exercise of any Options  granted  hereunder.  Inability  of the Company to
obtain from any such regulatory commission or agency authority which counsel for
the Company  deems  necessary  for the lawful  issuance  and sale of Shares upon
exercise of any Options  granted  hereunder  shall  relieve the Company from any
liability  for  failure to issue and sell such  Shares  until the time when such
authority is obtained or is obtainable.


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11.      Nonassignment of Options
         ------------------------

         Except as  otherwise  provided in Paragraph  6(c)  hereof,  any Options
granted  hereunder and the rights and privileges  conferred  hereby shall not be
transferred,  assigned, pledged or hypothecated in any way (whether by operation
of law or  otherwise)  and shall not be  subject  to  execution,  attachment  or
similar process. Upon any attempt to transfer,  assign,  pledge,  hypothecate or
otherwise dispose of such option,  right or privilege contrary to the provisions
hereof,  or upon the levy of any  attachment or similar  process upon the rights
and  privileges  conferred  hereby,  such Options and the rights and  privileges
conferred hereby shall immediately terminate.

12.      Rights of Optionee in Stock
         ---------------------------

         Neither any Optionee nor the legal representatives,  heirs, legatees or
distributees  of any  Optionee,  shall be deemed to be the holder of, or to have
any of the rights of a holder with respect to, any Shares issuable upon exercise
of any Options granted hereunder unless and until such Shares are issued to him,
her or  them  and  such  person  or  persons  have  received  a  certificate  or
certificates therefor.

13.      Delivery of Shares Issued Pursuant to Options
         ---------------------------------------------

         Subject  to the  other  terms and  conditions  of this  Plan,  upon the
exercise  of any  Options  granted  hereunder,  the  Company  shall  sell to the
Optionee the Shares with respect to which the Options have been exercised.

14.      Withholding of Applicable Taxes
         -------------------------------

         The  Company  shall  have the  right to  reduce  the  number  of Shares
otherwise  required to be issued upon exercise of any Options granted  hereunder
by an amount which would have a fair market  value on the date of such  exercise
equal to all  federal,  state,  city or other  taxes as shall be  required to be
withheld by the Company pursuant to any statute or other governmental regulation
or ruling.  In connection with such  withholding,  the Company may make any such
arrangements as are consistent with this Plan as it may deem appropriate.

15.      Plan and Options Not to Affect Employment
         -----------------------------------------

         Neither this Plan nor any Options  granted  hereunder shall confer upon
any Eligible Employee any right to continue in the employ of the Company.

16.      Amendment of Plan
         -----------------

         The Board may make any amendments to the Plan which it deems  necessary
or  advisable,  provided  that the Board  may seek  shareholder  approval  of an
amendment if determined to be

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required by or  advisable  under  regulations  of the  Securities  and  Exchange
Commission or the Internal Revenue  Service,  the rules of any stock exchange or
system  on which  the  Company's  stock is  listed  or other  applicable  law or
regulation.

17.      Notice
         ------

         Any notice required or permitted  hereunder shall be sufficiently given
only if sent by registered or certified mail, postage prepaid,  addressed to the
Company at 601 Delsea Drive,  Sewell,  New Jersey 08080,  and to the Optionee at
the address on file with the Company at the time of grant hereunder,  or to such
other  address  as either  party may  hereafter  designate  in writing by notice
similarly given by one party to the other.

18.      Successors
         ----------

         The  Plan  shall  be  binding  upon and  inure  to the  benefit  of any
successor or successors of the Company.

19.      Severability
         ------------

         If any part of this Plan shall be  determined  to be invalid or void in
any respect, such determination shall not affect, impair,  invalidate or nullify
the  remaining  provisions  of this Plan which shall  continue in full force and
effect.

20.      Termination of the Plan
         -----------------------

         The Board may  terminate  this  Plan at any time;  otherwise  this Plan
shall  terminate ten years after it is adopted by the Board.  Termination of the
Plan shall not  deprive  Optionees  of their  rights  under  previously  granted
Options.

21.      Governing Law
         -------------

         This Plan  shall be  governed  by the laws of the State of New  Jersey,
except to the extent superseded by Federal law.

22.      Effective Date of Plan
         ----------------------

         This Plan shall become  effective when it is approved by the Board, but
the grant of any  Options  hereunder  is subject to the express  condition  that
within 12 months after the date on which the Plan is approved by the Board,  the
holders of two-thirds of the  outstanding  shares entitled to vote thereon shall
have approved the Plan.



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