SECURITIES AND EXCHANGE COMMISSION
                                Washington, D.C.

                                    FORM 10-Q

                QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                  OF THE SECURITIES EXCHANGE ACTIVITIES OF 1934
                  For the quarterly period ended June 30, 2001

                               PARK BANCORP, INC.
             (Exact name of registrant as specified in its charter)

                                    DELAWARE
                            (State of incorporation)

                                   36-4082530
                        (IRS Employer Identification No.)

                   5400 SOUTH PULASKI ROAD, CHICAGO, ILLINOIS
                    (Address of Principal Executive Offices)

                                      60632
                                   (ZIP Code)

                                 (773) 582-8616
              (Registrant's telephone number, including area code)


Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the Registrant was
required to file such reports) and (2) has been subject to such filing
requirements for the past 90 days.
                                    Yes  __X__     No_____


Indicate the number of shares outstanding of each of the issuer's classes of
common stock as of the latest practicable date.

As of July 31, 2001, the Registrant had outstanding 1,268,871 shares of common
stock.





<PAGE>



                               PARK BANCORP, INC.

                           Form 10-Q Quarterly Report


                                      Index

                                                                            Page
                                                                            ----
PART I - Financial Information

     Item 1     Financial Statements                                          1


     Item 2     Management's Discussion and Analysis of
                Financial Condition and Results of Operations                 8


     Item 3     Quantitative and Qualitative Disclosures About
                Market Risk                                                  10


PART II - Other Information

     Item 1     Legal Proceedings                                            11


     Item 2     Changes in Securities                                        11


     Item 3     Defaults Upon Senior Securities                              11


     Item 4     Submission of Matters to a Vote of
                Securities Holders                                           11


     Item 5     Other Information                                            11


     Item 6     Exhibits and Reports on Form 8-K                             11


SIGNATURES                                                                   12


SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This report contains certain forward-looking statements within the meaning of
Section 27a of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The Company intends such
forward-looking statements to be covered by the safe harbor provisions for
forward-looking statements contained in the Private Securities Reform Act of
1995 as amended, and is including this statement for purposes of these safe
harbor provisions. Forward-looking statements, which are based on certain
assumptions and describe future plans, strategies and expectations of the
Company, are generally identifiable by use of the words such as "believe,"
"expect," "intend," "anticipate," "estimate," "project," or similar expressions.
The Company's ability to predict results or the actual effect of future plans or
strategies is inherently uncertain. Factors that could have a material adverse
affect on the operations and future prospects of the Company and its wholly
owned subsidiaries include, but are not limited to, changes in: interest rates;
general economic conditions; legislative/regulatory provisions; monetary and
fiscal policies of the U.S. Government, including policies of the U.S. Treasury
and the Federal Reserve Board; the quality or composition of the loan or
investment portfolios; demand for loan products; deposit flows; competition;
demand for financial services in the Company's market area; and accounting
principles, policies, and guidelines. These risks and uncertainties should be
considered in evaluating forward-looking statements and undue reliance should
not be placed on such statements. Further information concerning the Company and
its business, including additional factors that could materially affect the
Company's financial results, is included in the Company's filings with the
Securities and Exchange Commission.



<PAGE>



PARK BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(IN THOUSANDS OF DOLLARS, EXCEPT SHARE DATA)
(UNAUDITED)

<TABLE>
<CAPTION>
                                                                     JUNE 30,  DECEMBER 31,
                                                                      2001         2000
                                                                    ---------    ---------

                                    ASSETS
<S>                                                                 <C>          <C>
Cash and due from banks                                             $     653    $   1,218
Interest-bearing deposit accounts in other financial institutions      16,994        2,848
                                                                    ---------    ---------
     Total cash and cash equivalents                                   17,647        4,066

Securities available-for-sale                                         119,222      125,220
Loans receivable, net                                                 112,078       97,017
Federal Home Loan Bank stock                                            2,004        1,938
Real estate held for development                                           --          276
Premises and equipment, net                                             2,715        2,225
Accrued interest receivable                                             2,629        2,724
Other assets                                                              986        1,717
                                                                    ---------    ---------

TOTAL ASSETS                                                        $ 257,281    $ 235,183
                                                                    =========    =========

                     LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Deposits                                                            $ 169,787    $ 147,973
Securities sold under repurchase agreements                            16,472       18,686
Federal Home Loan Bank advances                                        37,000       36,000
Advances from borrowers for taxes and insurance                         1,919        1,740
Accrued interest payable                                                  769          496
Other liabilities                                                       4,696        1,009
                                                                    ---------    ---------
     Total liabilities                                                230,643      205,904

STOCKHOLDERS' EQUITY
Preferred stock, $.01 par value, 1,000,000 shares authorized;
  none issued or outstanding                                                -            -
Common stock, $.01 par value, 9,000,000 shares authorized;
  2,701,441 shares issued                                                  27           27
Additional paid-in capital                                             26,539       26,436
Retained earnings                                                      25,353       24,852
Treasury stock at cost - 1,397,536 and 1,126,936 shares, at cost      (22,720)     (17,956)
Unearned ESOP shares                                                   (1,211)      (1,290)
Unearned MRP shares                                                       (32)        (223)
Accumulated other comprehensive income (loss)                          (1,318)      (2,617)
                                                                    ---------    ---------
     Total stockholders' equity                                        26,638       29,279
                                                                    ---------    ---------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                          $ 257,281    $ 235,183
                                                                    =========    =========

</TABLE>

                 See notes to consolidated financial statements.



                                        1

<PAGE>


PARK BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(IN THOUSANDS OF DOLLARS, EXCEPT SHARE DATA)
(UNAUDITED)

<TABLE>
<CAPTION>
                                                           THREE MONTHS         SIX MONTHS
                                                          ENDED JUNE 30,       ENDED JUNE 30,
                                                        ------------------   -----------------
                                                         2001       2000      2001      2000
                                                        -------    -------   -------   -------
<S>                                                     <C>        <C>       <C>       <C>
Interest income
     Loans receivable                                   $ 2,078    $ 1,746   $ 4,023   $ 3,403
     Securities and other                                 2,135      2,248     4,332     4,513
                                                        -------    -------   -------   -------
         Total                                            4,213      3,994     8,355     7,916

Interest expense
     Deposits and repurchase agreements                   1,897      1,902     4,017     3,720
     Federal Home Loan Bank advances                        657        504     1,126       963
                                                        -------    -------   -------   -------
         Total                                            2,554      2,406     5,143     4,683
                                                        -------    -------   -------   -------

Net interest income                                       1,659      1,588     3,212     3,233

Provision for loan losses                                     -          -         -         -
                                                        -------    -------   -------   -------

Net interest income after provision for
  loan losses                                             1,659      1,588     3,212     3,233

Noninterest income
     Gain on sale of real estate held for development         -         96         -       151
     Gain on sale of securities available-for-sale          203          7       248         7
     Service fee income                                      55         52       107       103
     Other operating income                                  92         29       120        32
                                                        -------    -------   -------   -------
         Total noninterest income                           350        184       475       293

Noninterest expense
     Compensation and benefits                              851        740     1,635     1,510
     Occupancy and equipment                                155        152       297       272
     Data processing                                         36         36        78        73
     Advertising                                             36         59        49       100
     Other operating expenses                               165        171       370       346
                                                        -------    -------   -------   -------
         Total noninterest expense                        1,243      1,158     2,429     2,301
                                                        -------    -------   -------   -------

Income before income taxes                                  766        614     1,258     1,225

Income tax expense                                          255        199       417       404
                                                        -------    -------   -------   -------

     Net income                                         $   511    $   415   $   841   $   821
                                                        =======    =======   =======   =======


Basic earnings per share                                $   .37    $   .28   $   .60   $   .54
Diluted earnings per share                              $   .37    $   .28   $   .60   $   .54

Comprehensive income (loss)                             $  (282)   $   344   $ 2,140   $ 1,303
                                                        =======    =======   =======   =======

</TABLE>

                 See notes to consolidated financial statements.



                                        2

<PAGE>


PARK BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(IN THOUSANDS OF DOLLARS)
(UNAUDITED)

<TABLE>
<CAPTION>
                                                                                 SIX MONTHS ENDED
                                                                                     JUNE 30,
                                                                                 2001        2000
                                                                               --------    --------
<S>                                                                            <C>         <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net income                                                                     $    841    $    821
Adjustments to reconcile net income to net cash from
  operating activities
     Net discount accretion on securities                                             -         (22)
     Gain on sale of securities available-for-sale                                 (248)         (7)
     Gain on sale of real estate held for development                                 -        (151)
     Depreciation                                                                   120         120
     ESOP compensation expense                                                      132         105
     MRP compensation expense                                                       191         169
     Federal Home Loan Bank stock dividends                                         (66)        (64)
     Net change in:
         Accrued interest receivable                                                 95         (27)
         Accrued interest payable                                                   273         111
         Other assets                                                                53         236
         Other liabilities                                                         (104)         63
                                                                               --------    --------

         Net cash from operating activities                                       1,287       1,354

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of securities available-for-sale                                        (4,002)          -
Proceeds from sales, calls, and maturities of securities available- for-sale      9,170         125
Principal repayments on mortgage-backed securities                                3,055       2,111
Net change in loans                                                             (15,061)     (4,559)
Net change in real estate held for development                                      276         224
Purchase of premises and equipment                                                 (610)       (347)
                                                                               --------    --------

     Net cash from investing activities                                          (7,172)     (2,446)

CASH FLOWS FROM FINANCING ACTIVITIES
Net change in deposits                                                           21,814         241
Net change in repurchase agreements                                              (2,214)      4,717
Net change in advances from borrowers for taxes and insurance                       179         158
Net change in Federal Home Loan Bank advances                                     1,000      (1,000)
Dividends paid                                                                     (520)       (414)
Purchase of treasury stock                                                         (793)     (2,653)
                                                                               --------    --------

     Net cash from financing activities                                          19,466       1,049
                                                                               --------    --------

Net change in cash and cash equivalents                                          13,581         (43)

Cash and cash equivalents at beginning of period                                  4,066       4,024
                                                                               --------    --------

Cash and cash equivalents at end of period                                     $ 17,647    $  3,981
                                                                               ========    ========

Cash paid during the period for
     Interest                                                                  $  4,870    $  4,572
     Income taxes                                                                   247         471

Supplemental disclosure of noncash activities
     Amount due to broker for purchase of treasury stock                          3,971           -

</TABLE>


                 See notes to consolidated financial statements.



                                       3
<PAGE>


PARK BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
SIX MONTHS ENDED JUNE 30, 2001 AND 2000
(IN THOUSANDS OF DOLLARS, EXCEPT SHARE DATA)
(UNAUDITED)

<TABLE>
<CAPTION>


                                                                Additional              Unearned
                                                       Common     Paid-in    Retained     ESOP
                                                        Stock     Capital    Earnings    Shares
                                                       --------   --------   --------    --------
2000
<S>                                                    <C>        <C>        <C>         <C>
Balance at January 1, 2000                             $     27   $ 26,436   $ 23,990    $ (1,456)
Comprehensive income
    Net income                                                -          -        821           -
    Change in fair value of securities classified
      as available-for-sale, net of reclassification
      and tax effects                                         -          -          -           -

       Total comprehensive income

Purchase of 190,300 shares of treasury stock                  -          -          -           -
Dividends declared ($.24 per share)                           -          -       (349)          -
ESOP shares earned                                            -         22          -          83
MRP shares earned                                             -          -          -           -
                                                       --------   --------   --------    --------

Balance at June 30, 2000                               $     27   $ 26,458   $ 24,462    $ (1,373)
                                                       ========   ========   ========    ========

2001

Balance at January 1, 2001                             $     27   $ 26,486   $ 24,852    $ (1,290)
Comprehensive income
    Net income                                                -          -        841           -
    Change in fair value of securities classified
      as available-for-sale, net of reclassification
      and tax effects                                         -          -          -           -

       Total comprehensive income

Purchase of 270,600 shares of treasury stock                  -          -          -           -
Dividends declared ($.24 per share)                           -          -       (340)          -
ESOP shares earned                                            -         53          -          79
MRP shares earned                                             -          -          -           -
                                                       --------   --------   --------    --------

Balance at June 30, 2001                               $     27   $ 26,539   $ 25,353    $ (1,211)
                                                       ========   ========   ========    ========

</TABLE>


[WIDE TABLE CONTINUED FROM ABOVE]

<TABLE>
<CAPTION>

                                                                            Accumulated
                                                                                Other       Total
                                                       Unearned                Compre-      Stock-
                                                          MRP     Treasury     hensive      holders'
                                                        Awards      Stock     Income (Loss) Equity
                                                       --------    --------    --------    --------
<S>                                                    <C>         <C>         <C>         <C>
2000
Balance at January 1, 2000                             $   (550)   $(14,294)   $ (6,795)   $ 27,358
Comprehensive income
    Net income                                                -           -           -         821
    Change in fair value of securities classified
      as available-for-sale, net of reclassification
      and tax effects                                         -           -         482         482

                                                                                           --------
       Total comprehensive income                                                             1,303

Purchase of 190,300 shares of treasury stock                  -      (2,653)          -      (2,653)
Dividends declared ($.24 per share)                           -           -           -        (349)
ESOP shares earned                                            -           -           -         105
MRP shares earned                                           169           -           -         169
                                                       --------    --------    --------    --------

Balance at June 30, 2000                               $   (381)   $(16,947)   $ (6,313)   $ 25,933
                                                       ========    ========    ========    ========

2001

Balance at January 1, 2001                             $   (223)   $(17,956)   $ (2,617)   $ 29,279
Comprehensive income
    Net income                                                -           -           -         841
    Change in fair value of securities classified
      as available-for-sale, net of reclassification
      and tax effects                                         -           -       1,299       1,299
                                                                                           --------
       Total comprehensive income                                                             2,140

Purchase of 270,600 shares of treasury stock                  -      (4,764)          -      (4,764)
Dividends declared ($.24 per share)                           -           -           -        (340)
ESOP shares earned                                            -           -           -         132
MRP shares earned                                           191           -           -         191
                                                       --------    --------    --------    --------

Balance at June 30, 2001                               $    (32)   $(22,720)   $ (1,318)   $ 26,638
                                                       ========    ========    ========    ========


</TABLE>

                 See notes to consolidated financial statements.

                                       4
<PAGE>



                               PARK BANCORP, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2001
           (table amounts in thousands of dollars, except share data)

Note 1 - Basis of Presentation

The accompanying unaudited consolidated financial statements include the
accounts of Park Bancorp, Inc. (the Company) and its wholly owned subsidiaries,
Park Federal Savings Bank (the Bank) and PBI Development Company (PBI), and the
Bank's subsidiaries, GPS Company and GPS Development Company (GPS), as of June
30, 2001 and December 31, 2000 and for the six-month and three-month periods
ended June 30, 2001 and 2000. Significant intercompany accounts and transactions
have been eliminated in consolidation.

The accompanying unaudited interim consolidated financial statements have been
prepared pursuant to the rules and regulations for reporting on Form 10-Q.
Accordingly, certain disclosures required by generally accepted accounting
principles are not included herein. These interim statements should be read in
conjunction with the consolidated financial statements and notes thereto
included in the Company's 2000 Annual Report on Form 10-K filed with the
Securities and Exchange Commission. The December 31, 2000 balance sheet
presented herein has been derived from the audited financial statements included
in the Company's 2000 Annual Report on Form 10-K filed with the Securities and
Exchange Commission, but does not include all disclosures required by generally
accepted accounting principles.

Interim statements are subject to possible adjustment in connection with the
annual audit of the Company for the year ending December 31, 2001. In the
opinion of management of the Company, the accompanying unaudited interim
consolidated financial statements reflect all adjustments (consisting of normal
recurring adjustments) necessary for a fair presentation of the consolidated
financial position and consolidated results of operations for the periods
presented.

The results of operations for the six-month and three-month periods ended June
30, 2001 and 2000 are not necessarily indicative of the results to be expected
for the full year.



<PAGE>


Note 2 - Segment Information

The reportable segments are determined by the products and services offered,
primarily distinguished between banking and real estate development operations.
Loans, investments, and deposits provide the revenues in the banking operation,
and sales of single-family-residence lots provide the revenues in real estate
development operations. All operations are domestic.

Information reported internally for performance assessment follows for the
six-month and three-month periods ended June 30, 2001 and 2000.

<TABLE>
<CAPTION>

                                                                                          Real Estate
                                                                          Banking         Development      Total
                                                                          -------         -----------      -----
<S>                                                                    <C>             <C>             <C>
Six Months Ended June 30, 2001
------------------------------
     Net interest income                                               $      3,212    $         -     $      3,212
     Gain on sale of real estate held for development                             -              -                -
     Other revenue                                                              475              -              475
     Other expenses                                                           2,429              -            2,429
     Segment profit                                                             841              -              841

Three Months Ended June 30, 2001
--------------------------------
     Net interest income                                                      1,659              -            1,659
     Gain on sale of real estate held for development                             -              -                -
     Other revenue                                                              350              -              350
     Other expenses                                                           1,243              -            1,243
     Segment profit                                                             511              -              511

     Segment assets as of June 30, 2001                                     257,281              -          257,281

Six Months Ended June 30, 2000
------------------------------
     Net interest income                                                      3,233              -            3,233
     Gain on sale of real estate held for development                             -            151              151
     Other revenue                                                              142              -              142
     Other expenses                                                           2,301              -            2,301
     Segment profit                                                             721            100              821

Three Months Ended June 30, 2000
--------------------------------
     Net interest income                                                      1,588              -            1,588
     Gain on sale of real estate held for development                             -             96               96
     Other revenue                                                               88              -               88
     Other expenses                                                           1,158              -            1,158
     Segment profit                                                             351             64              415

     Segment assets as of June 30, 2000                                     228,666            161          228,827


</TABLE>


<PAGE>



Note 3 - Earnings Per Share

The following table presents a reconciliation of the components used to compute
basic and diluted earnings per share for the six-month and three-month periods
ended June 30, 2001 and 2000.

<TABLE>
<CAPTION>
                                                                2001                             2000
                                                                ----                             ----
                                                   Three Months      Six Months     Three Months      Six Months
                                                   Ended June 30   Ended June 30    Ended June 30    Ended June 30
                                                   -------------   --------------   -------------   --------------
<S>                                                <C>             <C>               <C>            <C>
    Net income as reported                         $         511   $          841    $        415   $          821
    Weighted average common
      shares outstanding                               1,373,274        1,396,993       1,486,414        1,533,904
                                                   -------------   --------------   -------------   --------------

       Basic earnings per share                    $         .37   $          .60    $        .28   $          .54
                                                   =============   ==============    =============   =============
</TABLE>

The effects of stock options and stock awards could potentially dilute basic
earnings per share in the future but were not included in the computation of
diluted earnings per share for the three-month and six-month periods ended June
30, 2001 or 2000 because to do so would have been anti-dilutive.


<PAGE>



ITEM 2.    MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
           RESULTS OF OPERATIONS

The following discussion compares the financial condition of Park Bancorp, Inc.
(Company) and its wholly owned subsidiaries, Park Federal Savings Bank (Bank)
and PBI Development Corporation, and the Bank's subsidiaries, at June 30, 2001
to its financial condition at December 31, 2000 and the results of operations
for the six-month and three-month periods ended June 30, 2001 to the same
periods in 2000. This discussion should be read in conjunction with the interim
financial statements and footnotes included herein.

FINANCIAL CONDITION

Total assets at June 30, 2001 were $257.3 million compared to $235.2 million at
December 31, 2000, an increase of $22.1 million. The growth in total assets was
primarily funded by an increase in deposits. During the six months ended June
30, 2001, loans increased $15.1 million. Cash and cash equivalents increased
$13.6 million, partially as a result of calls and maturities of securities
available-for-sale, which decreased $6.0 million.

The allowance for loan losses was $500,000 at both June 30, 2001 and December
31, 2000. There were no impaired loans at either date.

Total liabilities at June 30, 2001 were $230.6 million compared to $205.9
million at December 31, 2000, an increase of $24.7 million, primarily due to an
increase in deposits of $21.8 million. The increase was used to help fund the
growth in loans receivable and to repurchase 270,600 shares of the Company's
common stock for treasury. Other liabilities increased $3.7 million as a result
of the repurchase of 219,100 shares of the Company's common stock for treasury,
which settled in July 2001.

Stockholders' equity at June 30, 2001 was $26.6 million compared to $29.3
million at December 31, 2000, a decrease of $2.7 million. The decrease was
primarily attributable to the repurchase of 270,600 shares of the Company's
common stock and the declaration of dividends of $340,000, partially offset by
net income of $841,000 and an increase in the fair value of securities
available-for-sale, net of tax, of $1.3 million.

RESULTS OF OPERATIONS

Net income increased $96,000 to $511,000 for the quarter ended June 30, 2001
compared to the same period in 2000. Net income increased $20,000 to $841,000
for the six months ended June 30, 2001 compared to the six months ended June 30,
2000. Fluctuations on net income are discussed below.

Net interest income was $1.7 million for the quarter ended June 30, 2001
compared to $1.6 million for the same period in 2000. Net interest income
remained stable at $3.2 million for the six-month period ended June 30, 2001
compared to the same period in 2000. Although the Company's assets grew during
the period, the net interest margin decreased to 2.73% and 2.72% for the three
months and six months ended June 30, 2001, respectively, from 2.90% and 2.98%
for the three months and six months ended June 30, 2000, respectively. The
decreases in interest margins are primarily due to decreases in the net interest
spreads. The decreases in the spreads were due to a decrease in the yield on
securities as a result of the declining rate environment.

The provision for loan losses was zero for the quarters and six-month periods
ended June 30, 2001 and 2000. Management believes that the allowance is adequate
based on the low level of past due loans in the portfolio, actual loss
experience, and current economic conditions. Most of the Company's loans are
secured by first mortgages.


<PAGE>


Noninterest income increased $166,000 to $350,000 and increased $182,000 to
$475,000 for the three-month and six-month periods ended June 30, 2001,
respectively, compared to the same periods in 2000. These increases are
primarily due to gains on sales of securities of $203,000 and $248,000 for the
three-month and six-month periods ended June 30, 2001, respectively. These gains
were partially offset by no gains on sale of real estate held for development in
2001 compared to gains of $96,000 and $151,000 for the three months and six
months ended June 30, 2000, respectively. Other operating income increased in
both periods as a result of awards received from the Bank's involvement in the
Bank Enterprise Award Program.

Noninterest expense was $1.2 million for the quarters ended June 30, 2001 and
2000, and $2.4 million and $2.3 million for the six months ended June 30, 2001
and 2000, respectively. There were no significant changes in the various
categories of noninterest expense during these comparative periods.

The Company's federal income tax expense increased $56,000 to $255,000 for the
quarter ended June 30, 2001 compared to the same period in 2000, while income
tax expense increased $13,000 to $417,000 for the six-month period ended June
30, 2001 compared to the same period in 2000. Income tax expense was
approximately 33% of pretax income in each period.

LIQUIDITY

The Bank is required to maintain minimum levels of liquid assets as defined by
Bank regulators. The Bank's liquidity ratio does fluctuate, but has been in
excess of the required and targeted levels. The Bank's regulatory liquidity at
June 30, 2001 was 66.06%.

At June 30, 2001, the Bank had $6.2 million in commitments to originate loans
and $2.5 million in standby letters of credit.

CAPITAL RESOURCES

The Bank is subject to capital-to-asset requirements in accordance with bank
regulations. The following table summarizes the Bank's regulatory capital
requirements versus actual capital as of June 30, 2001:


<TABLE>
<CAPTION>
                                 ACTUAL                 REQUIRED                  EXCESS
                                 ------                 --------                  ------
                          AMOUNT         %         AMOUNT        %           AMOUNT         %
                          ------         -         ------        -           ------         -
<S>                    <C>              <C>      <C>            <C>      <C>               <C>
Core capital           $    23,531      9.8%     $   9,653      4.0%     $    13,878       5.8%
Risk-based capital          24,031     22.7          8,489      8.0           15,542      14.7

</TABLE>




<PAGE>



ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The Bank's interest rate sensitivity is monitored by management through the use
of a model that estimates the change in net portfolio value (NPV) over a range
of interest rate scenarios. NPV is the present value of expected cash flows from
assets, liabilities, and off-balance-sheet contracts. An NPV ratio, in any
interest rate scenario, is defined as the NPV in that scenario divided by the
market value of assets in the same scenario. The Sensitivity Measure is the
decline in the NPV ratio, in basis points, caused by a 2% increase or decrease
in rates, whichever produces a larger decline. The higher an institution's
Sensitivity Measure is, the greater its exposure to interest rate risk is
considered to be. The OTS has incorporated an interest rate risk component into
its regulatory capital rule. Under the rule, an institution whose sensitivity
measure exceeds 2% would be required to deduct an interest rate risk component
in calculating its total capital for purposes of the risk-based capital
requirement. As of December 31, 2000, the Bank's most recent sensitivity
measure, as measured by the OTS, resulting from a 200 basis point increase in
interest rates was (6.99)% and would result in a $16.4 million reduction in the
NPV of the Bank. Accordingly, increases in interest rates would be expected to
have a negative impact on the Bank's operating results. The NPV ratio
sensitivity measure is below the threshold at which the Bank could be required
to hold additional risk-based capital under OTS regulations.

Certain shortcomings are inherent in the methodology used in the above interest
rate risk measurements. Modeling changes in NPV requires the making of certain
assumptions that may tend to oversimplify the manner in which actual yields and
costs respond to changes in market interest rates. First, the models assume that
the composition of the Bank's interest sensitive assets and liabilities existing
at the beginning of a period remains constant over the period being measured.
Second, the models assume that a particular change in interest rates is
reflected uniformly across the yield curve regardless of the duration to
maturity or repricing of specific assets and liabilities. Third, the model does
not take into account the impact of the Bank's business or strategic plans on
the structure of interest-earning assets and interest-bearing liabilities.
Accordingly, although the NPV measurement provides an indication of the Bank's
interest rate risk exposure at a particular point in time, such measurement is
not intended to and does not provide a precise forecast of the effect of changes
in market interest rates on the Bank's net interest income and will differ from
actual results. The results of this modeling are monitored by management and
presented to the Board of Directors quarterly.

The following table shows the NPV and projected change in the NPV of the Bank at
December 31, 2000, the latest date for which information is available, assuming
an instantaneous and sustained change in market interest rates of 100, 200, and
300 basis points.

<TABLE>
<CAPTION>
                              INTEREST RATE SENSITIVITY OF NET PORTFOLIO VALUE (NPV)

                                                                                       NPV as a % of
                           --------------Net Portfolio Value------------    -----------PV of Assets---------
                                         -------------------                           ------------
       Change in Rates       $ Amount         $ Change       % Change          NPV Ratio         Change
       ---------------       --------         --------       --------          ---------         ------

<S>      <C>                <C>            <C>                 <C>              <C>              <C>
         + 300 bp           $    2,543     $   (23,693)        (90)%            1.32%            (1,056 bp)
         + 200 bp                9,846         (16,390)        (62)             4.89               (699 bp)
         + 100 bp               17,810          (8,426)        (32)             8.45               (343 bp)
             0 bp               26,236               -           -             11.88                -
         - 100 bp               29,467           3,231          12             13.05                117 bp
         - 200 bp               29,378           3,142          12             12.92                 14 bp
         - 300 bp               29,759           3,523          13             12.96                108 bp

</TABLE>



<PAGE>


PART II - - OTHER INFORMATION

ITEM 1.   LEGAL PROCEEDINGS.

                  None

ITEM 2.   CHANGES IN SECURITIES.

                  None

ITEM 3.   DEFAULTS UPON SENIOR SECURITIES.

                  None

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS.

                  The annual meeting of stockholders was held on April 24, 2001.
                  Richard J. Remijas, Jr. and Paul Shukis were elected to
                  three-year terms as directors. In addition, the stockholders
                  ratified the selection of Crowe, Chizek and Company LLP as
                  independent public accountants for the Company for the year
                  ending December 31, 2001.

ITEM 5.  OTHER INFORMATION.

                  None

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K.

                  (a)      Exhibits - Not applicable.

                  (b)      Reports on Form 8-K. The Company filed a report on
                           Form 8-K on June 29, 2001 announcing the repurchase
                           of 219,100 shares of its outstanding stock from two
                           of its largest stockholders.


<PAGE>




                                   SIGNATURES



Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                                 PARK BANCORP, INC.

Date:  August 14, 2001           /s/ David A. Remijas
                                 -----------------------------------------------
                                 David A. Remijas
                                 President and Chief Executive Officer


Date:  August 14, 2001           /s/ Steven J. Pokrak
                                 -----------------------------------------------
                                 Steven J. Pokrak
                                 Treasurer and Chief Financial Officer