UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE
    ACT OF 1934

For the quarterly period ended: March 31, 2006
                                       or
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

For the transition period from ____________ to ____________

Commission File No. 000-51338

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

                  New Jersey                                      65-1241959
----------------------------------------------                  -------------
(State or other  jurisdiction of incorporation                  (IRS Employer
  or  organization)                                          Identification No.)

       601 Delsea Drive, Washington Township, New Jersey           08080
       -------------------------------------------------           -----
           (Address of principal executive offices)              (Zip Code)

                                  856-256-2500
              (Registrant's telephone number, including area code)

                                       N/A
              (Former name, former address and former fiscal year,
                          if changed since last report)

     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 by check mark whether the registrant is a large accelerated filer,
an accelerated filer, or a non-accelerated filer. See definition of "accelerated
filer and large  accelerated  filer" in Rule 12b-2 of the Exchange  Act.  (Check
one):

Large accelerated filer [  ]  Accelerated filer [  ]   Non-accelerated filer [X]

     Indicate  by check mark  whether  the  registrant  is a shell  company  (as
defined in Rule 12b-2 of the Exchange Act).

                                                      Yes [ ]          No [X]

                      APPLICABLE ONLY TO CORPORATE ISSUERS

     As of May 4, 2006,  there were issued and outstanding  2,830,811  shares of
the registrant's common stock.

<PAGE>

                               PARKE BANCORP, INC.

                                    FORM 10-Q

                      FOR THE QUARTER ENDED MARCH 31, 2006

                                      INDEX
<TABLE>
<CAPTION>

                                                                                           Page
                                                                                           ----
Part I            FINANCIAL INFORMATION
------
<S>             <C>                                                                     <C>

Item 1.           Financial Statements........................................................1
Item 2.           Management's Discussion and Analysis of Financial Conditional
                      and Results of Operations..............................................11
Item 3.           Quantitative and Qualitative Disclosures About Market Risk.................16
Item 4.           Controls and Procedures....................................................16

Part II           OTHER INFORMATION
------

Item 1.           Legal Proceedings..........................................................17
Item 1A.          Risk Factors...............................................................17
Item 2.           Unregistered Sales of Equity Securities and Use of Proceeds................17
Item 3.           Default Upon Senior Securities.............................................17
Item 4.           Submission of Matters to a Vote of Security Holders........................17
Item 5.           Other Information..........................................................17
Item 6.           Exhibits...................................................................18

SIGNATURES

EXHIBITS and CERTIFICATIONS
</TABLE>

<PAGE>

                          PART I. FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

                      PARKE BANCORP, INC. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS


<TABLE>
<CAPTION>
                                                                March 31,     December 31,
                                                                 2006             2005
                                                            -------------    -------------
                                                              (Unaudited)
<S>                                                         <C>              <C>
Assets
Cash and cash due from banks                                $   3,759,026    $   4,377,196
Federal funds sold                                                687,097            2,840
                                                            -------------    -------------
         Cash and cash equivalents                              4,446,123        4,380,036
                                                            -------------    -------------

Investment securities available for sale, at market value      21,118,393       22,022,944
Investment securities held to maturity, at amortized cost
(market value $2,362,043 at March 31, 2006 and
$2,322,985 at December 31, 2005)                                2,413,397        2,405,841
                                                            -------------    -------------
         Total investment securities                           23,531,790       24,428,785
                                                            -------------    -------------

Restricted stock, at cost                                       1,072,400        1,348,900
                                                            -------------    -------------
Loans                                                         271,966,530      259,035,088
Less: allowance for loan losses                                (3,808,812)      (3,573,812)
                                                            -------------    -------------
         Total net loans                                      268,157,718      255,461,276
                                                            -------------    -------------

Bank premises and equipment, net                                3,023,429        3,079,876

Accrued interest receivable and other assets                    8,940,041        9,111,571
                                                            -------------    -------------

         Total assets                                       $ 309,171,501    $ 297,810,444
                                                            =============    =============
</TABLE>

                 See Notes to Consolidated Financial Statements

                                       1

<PAGE>

                      PARKE BANCORP, INC. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS


<TABLE>
<CAPTION>
                                                                        March 31,       December 31,
                                                                          2006             2005
                                                                      -------------    -------------
                                                                       (Unaudited)
<S>                                                                 <C>              <C>
Liabilities and Shareholders' Equity

Liabilities
     Deposits
       Noninterest-bearing demand                                     $  21,033,447    $  17,918,339
       Interest-bearing                                                 227,283,148      214,137,969
                                                                      -------------    -------------
         Total deposits                                                 248,316,595      232,056,308

     Borrowed funds                                                       5,049,750        5,082,500
     Federal Home Loan Bank advances                                     14,418,978       20,574,360
     Subordinated debentures                                             10,310,000       10,310,000
     Accrued interest payable and other accrued liabilities               2,590,780        2,593,949
                                                                      -------------    -------------

         Total liabilities                                              280,686,103      270,617,117
                                                                      -------------    -------------

Commitments and Contingencies (Note 1)

Shareholders' Equity
     Common stock, $0.10 par value, 10,000,000 shares
       authorized; 2,825,107 shares issued and outstanding at
       March 31, 2006 and 2,317,364 shares issued and
       outstanding at December 31, 2005                                     282,511          231,736
     Preferred stock, 1,000,000 shares authorized; no shares issued
       and outstanding                                                         --               --
     Additional paid-in capital                                          20,749,046       20,511,410

     Retained earnings                                                    7,862,581        6,787,118

     Accumulated other comprehensive (loss)                                (350,720)        (286,296)
     Treasury stock, at cost (3,288 shares at March 31, 2006 and
       2,380 shares at December 31, 2005)                                   (58,020)         (50,641)
                                                                      -------------    -------------
         Total shareholders' equity                                      28,485,398       27,193,327
                                                                      -------------    -------------
         Total liabilities and shareholders' equity                   $ 309,171,501    $ 297,810,444
                                                                      =============    =============
</TABLE>

                                       2

<PAGE>

                      PARKE BANCORP, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                               For the Three Months ended March 31,
                                               ------------------------------------
                                                         2006         2005
                                                      ----------   ----------
<S>                                                 <C>          <C>
Interest and Dividend Income
     Loans, including fees                            $5,249,988   $3,399,121
     Investment securities                               302,452      297,248
     Federal funds sold                                   17,057          118
                                                      ----------   ----------
       Total interest and dividend income              5,569,497    3,696,487
                                                      ----------   ----------

Interest Expense
     Deposits                                          2,023,658    1,115,880
     Borrowings                                          390,330      149,321
                                                      ----------   ----------
       Total interest expense                          2,413,988    1,265,201
                                                      ----------   ----------

         Net interest income                           3,155,509    2,431,286

Provision for Loan Losses                                235,000      232,134
                                                      ----------   ----------
Net interest income after provision for loan losses    2,920,509    2,199,152
                                                      ----------   ----------

Noninterest Income
     Service charges on deposit accounts                  36,132       42,644
     Other fee income                                    219,718      110,063
                                                      ----------   ----------
         Total noninterest income                        255,850      152,707
                                                      ----------   ----------

Noninterest Expenses
     Compensation and benefits                           676,497      526,032
     Occupancy, equipment and data processing            212,711      195,078
     Marketing and business development                   53,428       33,827
     Professional services                               149,029      197,408
     Other operating expenses                            265,011      181,497
                                                      ----------   ----------
         Total noninterest expenses                    1,376,676    1,133,842
                                                      ----------   ----------

Income Before Income Tax Expense                       1,799,683    1,218,017

Income Tax Expense                                       724,220      486,000
                                                      ----------   ----------

         Net Income                                   $1,075,463   $  732,017
                                                      ==========   ==========

Net Income Per Common Share:
     Basic                                            $     0.39   $     0.28
                                                      ==========   ==========
     Diluted                                          $     0.33   $     0.23
                                                      ==========   ==========
Weighted Average Shares Outstanding:
     Basic                                             2,786,659    2,645,734
                                                      ==========   ==========
     Diluted                                           3,283,668    3,153,211
                                                      ==========   ==========
</TABLE>

                                       3

<PAGE>

                      PARKE BANCORP, INC. AND SUBSIDIARIES
                 CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
               FOR THE THREE MONTHS ENDED MARCH 31, 2006 AND 2005
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                  Accumulated
                                                       Additional                   Other                          Total
                                            Common      Paid-In      Retained    Comprehensive                  Shareholders'
                                             Stock      Capital      Earnings     Income (Loss) Treasury Stock     Equity
                                             -----      -------      --------     ------------- --------------     ------

<S>                                       <C>        <C>           <C>            <C>            <C>            <C>
Balance,  December 31, 2004                $217,556   $19,390,102   $3,292,697     $ (71,204)     $        -     $22,829,151


   Stock options and warrants exercised      5,757        468,438            -             -               -         474,195
   Comprehensive income:
     Net income for the period                   -              -      732,017             -               -         732,017
     Change in net  unrealized  gain on
       securities  available  for sale,
       net     of      reclassification
       adjustment  and tax effects,  if
       any                                       -              -            -      (159,275)              -        (159,275)
                                                                                                                 -----------

         Total comprehensive income                                                                                  572,742
                                          --------    -----------   ----------     ---------      ----------     -----------
Balance,  March 31, 2005                  $223,313    $19,858,540   $4,024,714     $(230,479)     $        -     $23,876,088
                                          ========    ===========   ==========     =========      ==========     ===========


Balance,  December 31, 2005               $231,736    $20,511,410   $6,787,118     $(286,296)     $  (50,641)    $27,193,327


   Stock options and warrants exercised      3,805        284,606            -             -               -         288,411
   Treasury stock purchased                      -              -            -             -          (7,379)         (7,379)
   20% stock dividend                       46,970        (46,970)           -             -               -               -
   Comprehensive income:
     Net income for the period                   -              -    1,075,463             -               -       1,075,463
     Change in net unrealized gain on
       securities available for sale,
       net of reclassification
       adjustment and tax effects, if
       any                                       -              -            -       (64,424)              -         (64,424)
                                                                                                                 -----------
         Total comprehensive income                                                                                1,011,039
                                          --------    -----------   ----------     ---------      ----------     -----------
Balance, March 31, 2006                   $282,511    $20,749,046   $7,862,581     $(350,720)     $  (58,020)    $28,485,398
                                          ========    ===========   ==========     =========      ==========     ===========
</TABLE>
                                       4

<PAGE>

                      PARKE BANCORP, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>

                                                                         For the Three Months Ended March 31,
                                                                         ------------------------------------
                                                                                  2006            2005
                                                                             ------------    ------------
<S>                                                                        <C>             <C>
Operating Activities
   Net income                                                                $  1,075,463    $    732,017
   Adjustments to reconcile net income to net cash provided by
   operating activities:
     Depreciation and amortization                                                 63,125          65,752
     Provision for loan losses                                                    235,000         232,134
     Net accretion of investment securities premiums/discounts                     (5,530)        (34,944)
   Changes in operating assets and liabilities:
     Increase (Decrease) in accrued interest receivable and other assets          714,479        (398,416)
     (Decrease) Increase in accrued interest payable and other liabilities         (3,169)        500,819
                                                                             ------------    ------------
         Net cash provided by operating activities                              2,079,368       1,097,362
                                                                             ------------    ------------

Investing Activities
   Purchases of investment securities available for sale                                -      (1,000,000)
   Proceeds from redeemed restricted stock                                        276,500          65,700
   Principal payments on mortgage-backed securities                               295,152         276,896
   Net increase in loans                                                      (12,931,442)    (11,943,300)
   Purchase of building premises and equipment                                     (6,678)        (24,725)
                                                                             ------------    ------------
         Net cash used in investing activities                                (12,366,468)    (12,625,429)
                                                                             ------------    ------------

Financing Activities
   Proceeds from exercise of stock options and warrants                           288,411         474,195
   Purchase of treasury stock                                                      (7,379)              -
   Proceeds from borrowings                                                     1,500,000               -
   Repayment of borrowings                                                     (7,688,132)       (885,808)
   Net increase in interest-bearing deposits                                   13,145,179      14,409,973
   Net increase in noninterest-bearing deposits                                 3,115,108        (705,314)
                                                                             ------------    ------------
         Net cash provided by financing activities                             10,353,187      13,293,046
                                                                             ------------    ------------

         Increase in cash and cash equivalents                                     66,087       1,764,979

Cash and Cash Equivalents, January 1,                                           4,380,036       1,801,788
                                                                             ------------    ------------

Cash and Cash Equivalents, March 31,                                         $  4,446,123    $  3,566,767
                                                                             ============    ============

Supplemental Disclosure of Cash Flow Information:
   Cash paid during the period for:
     Interest on deposits and borrowings                                     $  2,146,876    $  1,032,738
                                                                             ============    ============
     Income taxes                                                            $    850,000    $          -
                                                                             ============    ============
</TABLE>

                                       6
<PAGE>

                      PARKE BANCORP, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)



NOTE 1.  GENERAL

Business

         Parke Bancorp, Inc. ("Parke Bancorp or the "Company") is a bank holding
company  incorporated  under the laws of the State of New Jersey in January 2005
for the sole purpose of becoming the holding company of Parke Bank (the "Bank").
Parke Bancorp recognized the assets and liabilities  transferred at the carrying
amounts in the accounts of the Bank as of June 1, 2005,  the  effective  date of
the reorganization. The accompanying consolidated financial statements have been
prepared in accordance  with  accounting  principles  generally  accepted in the
United States of America ("GAAP") and are presented as if the exchange of shares
occurred  as of January  1,  2005.  Pursuant  to the Plan of  Acquisition,  each
outstanding share of Parke Bank was converted  automatically by operation of law
into one share of Parke  Bancorp.  Parke  Bancorp had no  activity  prior to the
completion  of  this  reorganization.  Parke  Bancorp  is  authorized  to  issue
10,000,000  shares of common  stock,  par  value  $0.10 per share and  1,000,000
shares of serial  preferred  stock,  par value  $0.10  per  share.  Options  and
warrants outstanding under the Bank's various Plans were converted automatically
by  operation  of law into  options and  warrants  to  purchase  shares of Parke
Bancorp on the same terms and conditions.

         The Bank is a commercial bank which commenced operations on January 28,
1999. The Bank is chartered by the New Jersey  Department of Banking and insured
by the Federal Deposit  Insurance  Corporation  ("FDIC").  Parke Bancorp and the
Bank maintain their principal offices at 601 Delsea Drive,  Washington Township,
New Jersey.  The Bank also conducts  business  through offices in Northfield and
Washington  Township,  New  Jersey.  In  addition,  the  Bank  also  has a  Loan
Production Office in Philadelphia,  Pennsylvania maintained exclusively for loan
production.

Financial Statements

         The financial  statements as of March 31, 2006 and for the  three-month
periods  ended March 31, 2006 and 2005  included  herein have not been  audited.
Comparison  to 2005  interim  period  financial  data  relate  to the  financial
condition  and results of  operations  of Parke Bank.  Certain  information  and
footnote  disclosures  normally  included in  financial  statements  prepared in
accordance with GAAP have been condensed or omitted;  therefore, these financial
statements  should be read in conjunction with the Company's  audited  financial
statements  and the notes thereto for the years ended December 31, 2005 included
in the Company's  Annual Report on Form 10-K for the fiscal year ended  December
31, 2005, as filed with the SEC. The accompanying  financial  statements reflect
all adjustments, which are, in the opinion of management, necessary to present a
fair  statement  of  the  results  for  the  interim  periods  presented.   Such
adjustments are of a normal recurring  nature.  The results for the three months
ended March 31, 2006 are not  necessarily  indicative of the results that may be
expected for the year ending December 31, 2006 or any other periods.

Basis of Financial Statement Presentation

         The financial statements include the accounts of Parke Bancorp Inc. and
its  wholly  owned  subsidiaries,  Parke  Bank and Parke  Capital  Markets.  All
significant  inter-company balances and transactions have been eliminated.  Such
statements  have been  prepared in  accordance  with GAAP and  general  practice
within the banking industry.

Use of Estimates

         The  preparation of financial  statements  requires  management to make
estimates  and  assumptions  that  affect  the  reported  amounts  of assets and
liabilities and the disclosure of contingent  assets and liabilities at the date
of the financial  statements  and the reported  amounts of revenues and expenses
during the reporting period. Actual results could differ from such estimates.

                                       6

<PAGE>

                      PARKE BANCORP, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


Investments

         The Company has identified  investment securities that will be held for
indefinite periods of time,  including securities that will be used as a part of
the Bank's  asset/liability  management  strategy and may be sold in response to
changes in interest rates, prepayments and similar factors. These securities are
classified as "available-for-sale" and are carried at fair value, with temporary
unrealized gains or losses reported as a separate component of accumulated other
comprehensive income (losses), net of the related income tax effect. Declines in
the fair value of the individual  available-for-sale securities below their cost
that are other than temporary result in write downs of the individual securities
to their fair value and are included in noninterest  income in the  consolidated
statements of  operations.  Factors  affecting the  determination  of whether an
other-than-temporary  impairment  has  occurred  include  a  downgrading  of the
security  by a rating  agency,  a  significant  deterioration  in the  financial
condition  of the  issuer,  or that the  Company  would not have the  intent and
ability  to hold a  security  for a period of time  sufficient  to allow for any
anticipated  recovery in fair value.  The  unrealized  losses that existed as of
March 31,  2006 are the result of market  changes in  interest  rates  since the
securities  where  purchased.  This factor coupled with the fact the Company has
both the intent and ability to hold  securities for a period of time  sufficient
to allow for any  anticipated  recovery  in fair  value  substantiates  that the
unrealized losses in the available-for-sale portfolio are temporary.

Commitments

         In the  general  course  of  business,  there are  various  outstanding
commitments to extend  credit,  such as letters of credit and  un-advanced  loan
commitments,  which are not reflected in the accompanying  financial statements.
Management  does  not  anticipate  any  material  losses  as a  result  of these
commitments.

Contingencies

         The Company is from time to time a party to routine  litigation  in the
normal course of its business.  Management  does not believe that the resolution
of  this  litigation  will  have a  material  adverse  effect  on the  financial
condition or results of operations of the Company. However, the ultimate outcome
of any such litigation,  as with litigation  generally,  is inherently uncertain
and it is possible that some litigation matters may be resolved adversely to the
Company.

NOTE 2.  EARNINGS PER SHARE

         Basic  earnings per share is computed by dividing  income  available to
holders of common stock (the numerator) by the weighted average number of common
shares outstanding (the denominator) during the period. Shares issued during the
period are  weighted  for the portion of the period that they were  outstanding.
The weighted  average number of common shares  outstanding  for the three months
ended March 31, 2006 and 2005 were 2,786,659 and 2,645,734, respectively.

         Diluted  earnings  per share are  similar to the  computation  of basic
earnings  per share  except that the  denominator  is  increased  to include the
number of  additional  common  shares  that would have been  outstanding  if the
dilutive  options  and  warrants  outstanding  had been  exercised.  The assumed
conversion  of  dilutive  options and  warrants  resulted in 496,679 and 507,477
additional  shares for the three  months  period  ended March 31, 2006 and 2005,
respectively.

NOTE 3.  STOCK-BASED EMPLOYEE COMPENSATION

         Effective  January 1, 2006, the Company  adopted  Financial  Accounting
Standards  Board  ("FASB")  Statement  No.  123  Share-Based   Payment  (Revised
2004)("SFAS  123R")  utilizing  the  modified  prospective  approach.  Under the
modified  prospective  transition  method,  the Company is required to recognize
compensation  cost for 1) all  share-based  payments  granted  prior to, but not
vested as of,  January 1, 2006 based on the grant date fair value  estimated  in
accordance with the original  provisions of SFAS 123; and 2) for all share-based
payments  granted on or after January 1, 2006 based on

                                       7

<PAGE>

                      PARKE BANCORP, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


the grant date fair value  estimated in accordance with SFAS 123R. In accordance
with the modified  prospective method, the Company has not restated prior period
results.

         Prior to  January  1,  2006,  the  Company  accounted  for  share-based
payments under the recognition and measurement provisions of APB Opinion No. 25,
Accounting  for Stock  Issued to  Employees,  and  related  Interpretations,  as
permitted by FASB Statement No. 123,  Accounting for  Stock-Based  Compensation.
Because  options  granted  had an exercise  price  equal to or greater  than the
market  value  of the  underlying  common  stock on the  date of the  grant,  no
stock-based  employee  compensation  cost was included in determining net income
for the three months ended March 31, 2005.

         All  outstanding  stock options as of January 1, 2006 were fully vested
(in prior years, all options vested upon issuance), thus no compensation expense
was  recognized  during the three months ended March 31, 2006 for such  options.
During the three  months  ended  March 31,  2006,  the Company did not issue any
options. The Company will use the Black-Scholes option pricing model to estimate
the fair value of any stock-based awards in 2006.

         As of March 31, 2006, there were no unvested options and,  accordingly,
no  unrecognized  compensation  cost  related  to  share-based  payments  to  be
recognized in the future.

         The following  table  illustrates the effect on net income and earnings
per share for the three months ended March 31, 2005,  if the Company had applied
the fair value recognition  provisions of Financial  Accounting  Standards Board
("FASB") Statement No. 123, Accounting for Stock-Based Employee Compensation, to
stock-based  employee  compensation.  Both basic and diluted  calculations  give
retroactive effect to stock dividends declared.

                                       Three months ended March 31,
                                       ----------------------------
                                                 2005
                                            ---------------

Net income, as reported                     $       732,017
Deduct total stock-based                            (90,000)
   compensation expense
   determined under the fair
   value method for all awards,
   net of related tax effects
                                            ---------------
     Pro-forma net income                   $       642,017
                                            ===============

Basic earnings per share:
   As reported                              $          0.28
   Pro-forma                                $          0.24

Diluted earnings per share:
   As reported                              $          0.23
   Pro-forma                                $          0.20


NOTE 4.  REGULATORY RESTRICTIONS

         Both the Company and the Bank are subject to various regulatory capital
requirements  of federal and state  banking  agencies.  Failure to meet  minimum
capital  requirements  can initiate  certain  mandatory and possibly  additional
discretionary  actions by regulators  that, if  undertaken,  could have a direct
material effect on the Company's  financial  statements.  Under capital adequacy
guidelines and the regulatory  framework for prompt corrective  action, the Bank
must meet specific  capital  guidelines  that involve  quantitative  measures of
assets,  liabilities,  and certain  off-balance  sheet items as calculated under
regulatory accounting  practices.  The Bank's capital amounts and classification
are also subject to

                                       8

<PAGE>

                      PARKE BANCORP, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


qualitative judgments by the regulators about components,  risk weightings,  and
other factors.

         Quantitative  measures  established  by  regulation  to ensure  capital
adequacy require the Company and the Bank to maintain minimum amounts and ratios
(set forth in the  following  table) of total and Tier I capital  (as defined in
the regulations) to risk-weighted assets (as defined), and of Tier I capital (as
defined) to average assets (as defined).

Parke Bank
<TABLE>
<CAPTION>
                                                                                     For Capital
                                                            Actual                Adequacy Purpose
                                                      Amount       Ratio         Amount       Ratio
                                                      ------       -----         ------       -----
As of March 31, 2006:
---------------------
(amounts in thousands)
<S>                                                <C>            <C>         <C>             <C>
Total Risk Based Capital                             $41,084        15%         $21,768         8%
(to Risk Weighted Assets)
 Tier 1 Capital                                      $37,678        14%         $10,884         4%
(to Risk Weighted Assets)
 Tier 1 Capital                                      $37,678        12%         $12,138         4%
(to Average Assets)
</TABLE>

<TABLE>
<CAPTION>
                                                                                    For Capital
                                                            Actual                Adequacy Purpose
                                                      Amount       Ratio         Amount       Ratio
                                                      ------       -----         ------       -----
As of December 31, 2005:
------------------------
(amounts in thousands)
<S>                                                 <C>            <C>         <C>             <C>
Total Risk Based Capital                             $39,416        15%         $20,825         8%
(to Risk Weighted Assets)
 Tier 1 Capital                                      $36,158        14%         $10,413         4%
(to Risk Weighted Assets)
 Tier 1 Capital                                      $36,158        13%         $11,370         4%
(to Average Assets)
</TABLE>


Parke Bancorp, Inc.
<TABLE>
<CAPTION>
                                                                                     For Capital
                                                            Actual                Adequacy Purpose
                                                      Amount       Ratio         Amount       Ratio
                                                      ------       -----         ------       -----
As of March 31, 2006:
---------------------
(amounts in thousands)
<S>                                                 <C>            <C>         <C>             <C>
Total Risk Based Capital                             $42,217        17%         $21,637         8%
(to Risk Weighted Assets)
 Tier 1 Capital                                      $35,705        13%          $9,822         4%
(to Risk Weighted Assets)
 Tier 1 Capital                                      $35,705        12%         $12,138         4%
(to Average Assets)
</TABLE>

                                       9

<PAGE>

                      PARKE BANCORP, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                     For Capital
                                                            Actual                Adequacy Purpose
                                                      Amount       Ratio         Amount       Ratio
                                                      ------       -----         ------       -----
As of December 31, 2005:
------------------------
(amounts in thousands)
<S>                                                 <C>            <C>         <C>             <C>
Total Risk Based Capital                             $40,737        16%         $20,856         8%
(to Risk Weighted Assets)
 Tier 1 Capital                                      $34,349        13%         $10,428         4%
(to Risk Weighted Assets)
 Tier 1 Capital                                      $34,349        12%         $11,370         4%
(to Average Assets)
</TABLE>


         Management  believes,  as of March 31, 2006 and December 31, 2005, that
the Bank and the Company met all capital  adequacy  requirements to which either
of them was subject.

NOTE 5.  SUBORDINATED DEBENTURES

         On  August  23,  2005,  Parke  Capital  Trust I, a  Delaware  statutory
business trust and a wholly-owned  subsidiary of the Company,  issued $5 million
of variable  rate  capital  trust  pass-through  securities  to  investors.  The
variable  interest rate re-prices  quarterly at the three-month LIBOR plus 1.66%
and was 6.43% at March 31, 2006. Parke Capital Trust I purchased $5.2 million of
variable  rate  junior  subordinated  deferrable  interest  debentures  from The
Company. The debentures are the sole asset of the Trust. The terms of the junior
subordinated debentures are the same as the terms of the capital securities. The
Company has also fully and  unconditionally  guaranteed  the  obligations of the
Trust under the capital securities. The capital securities are redeemable by the
Company on or after  November  23, 2010,  at par or earlier if the  deduction of
related interest for federal income taxes is prohibited,  classification as Tier
1 Capital  is no longer  allowed,  or certain  other  contingencies  arise.  The
capital  securities  must be redeemed  upon final  maturity of the  subordinated
debentures  on November 23, 2035.  Proceeds of  approximately  $4.2 million were
contributed to paid-in capital at the Bank. The remaining  $800,000 was retained
at the Company for future use.

         On August  23,  2005,  Parke  Capital  Trust II, a  Delaware  statutory
business trust and a wholly-owned  subsidiary of the Company,  issued $5 million
of  fixed/variable  rate capital  trust  pass-through  securities  to investors.
Currently, the interest rate is fixed at 6.25%. The fixed/variable interest rate
re-prices  quarterly at the three-month LIBOR plus 1.66% beginning  November 23,
2010.  Parke  Capital  Trust II purchased  $5.2 million of variable  rate junior
subordinated deferrable interest debentures from the Company. The debentures are
the sole asset of the Trust. The terms of the junior subordinated debentures are
the same as the terms of the capital securities.  The Company has also fully and
unconditionally  guaranteed  the  obligations  of the Trust  under  the  capital
securities.  The capital  securities  are  redeemable by the Company on or after
November 23, 2010,  at par or earlier if the  deduction of related  interest for
federal  income  taxes is  prohibited,  classification  as Tier 1 Capital  is no
longer allowed,  or certain other  contingencies  arise. The capital  securities
must be redeemed upon final maturity of the subordinated  debentures on November
23, 2035.  Proceeds of  approximately  $4.2 million were  contributed to paid-in
capital at the Bank.  The  remaining  $800,000  was  retained at the Company for
future use.

                                       10

<PAGE>

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

Forward-Looking Statements

         The Company may from time to time make written or oral "forward-looking
statements"   including  statements  contained  in  this  Report  and  in  other
communications by the Company which are made in good faith pursuant to the "safe
harbor"  provisions  of the Private  Securities  Litigation  Reform Act of 1995.
These  forward-looking  statements,  such as statements of the Company's  plans,
objectives,   expectations,   estimates  and   intentions,   involve  risks  and
uncertainties and are subject to change based on various important factors (some
of which are beyond the Company's control). The following factors, among others,
could cause the Company's  financial  performance to differ  materially from the
plans,  objectives,  expectations,  estimates and  intentions  expressed in such
forward-looking statements: the strength of the United States economy in general
and  the  strength  of  the  local  economies  in  which  the  Company  conducts
operations;  the effects of, and changes in, trade, monetary and fiscal policies
and laws,  including  interest  rate  policies of the Board of  Governors of the
Federal  Reserve  System,   inflation,   interest  rate,   market  and  monetary
fluctuations;  the timely  development  of and  acceptance  of new  products and
services of the Company and the perceived  overall  value of these  products and
services by users,  including  the  features,  pricing  and quality  compared to
competitors' products and services;  the impact of changes in financial services
laws and regulations  (including laws concerning taxes, banking,  securities and
insurance);  technological changes;  acquisitions;  changes in consumer spending
and saving habits; and the success of the Company at managing the risks involved
in the foregoing.

         The Company  cautions that the foregoing  list of important  factors is
not exclusive.  The Company also cautions readers not to place undue reliance on
these forward-looking statements, which reflect management's analysis only as of
the date on which  they are given.  The  Company is not  obligated  to  publicly
revise  or  update  these  forward-looking   statements  to  reflect  events  or
circumstances  that arise after any such date.  Readers should  carefully review
the risk factors  described in other  documents  the Company  files from time to
time with the SEC,  including  quarterly reports on Form 10-Q, annual reports on
Form 10-K and any current reports on Form 8-K.

General

         The  Company's  results of operations  are  dependent  primarily on net
interest income,  which is the difference  between the interest income earned on
its  interest-earning  assets,  such as loans and  securities,  and the interest
expense  paid  on  its  interest-bearing   liabilities,  such  as  deposits  and
borrowings.  The  Company  also  generates  noninterest  income  such as service
charges,  earnings  from bank owned life  insurance  (BOLI),  loan exit fees and
other fees. The Company's  noninterest  expenses  primarily  consist of employee
compensation  and  benefits,   occupancy  expenses,   marketing  expenses,  data
processing  costs and other operating  expenses.  The Company is also subject to
losses in its loan  portfolio if borrowers fail to meet their  obligations.  The
Company's  results of  operations  are also  significantly  affected  by general
economic and  competitive  conditions,  particularly  changes in market interest
rates, government policies and actions of regulatory agencies.

                              Results of Operations
 Three Months Ended March 31, 2006 Compared to Three Months Ended March 31, 2005
                                   (Unaudited)

         The following  discussion  compares the results of  operations  for the
three month  period  ended March 31, 2006 to the results of  operations  for the
three month  period  ended March 31,  2005.  This  discussion  should be read in
conjunction with the accompanying financial statements and related notes as well
as the financial information included in the 2005 Annual Report on Form 10-K.

         Net  Income.  For the three  months  ended March 31,  2006,  net income
totaled  $1,075,463,  compared to $732,017  for the three months ended March 31,
2005.  Diluted  earnings  per share for the three  months  ended  March 31, 2006
totaled  $0.33,  compared  to  $0.23  per  share  for the same  period  of 2005.
Increased net income for the three months ended March 31, 2006 was  attributable
primarily to increases in revenue (net interest income and non interest  income)
of $827,366, partially offset by an

                                       11

<PAGE>

increase in the provision for loan losses of $2,866, an increase in non interest
expenses of $242,834 and an increase in income tax expense of $238,220.

         Net  Interest  Income.  Our primary  source of earnings is net interest
income,  which is the  difference  between  income  earned  on  interest-earning
assets, such as loans and investment  securities,  and interest expense incurred
on the interest-bearing  sources of funds, such as deposits and borrowings.  The
level of net interest  income is  determined  primarily by the average  balances
("volume")  and the rate  spreads  between the  interest-earning  assets and our
funding sources.

         Net  interest  income for the three months ended March 31, 2006 totaled
$3.2 million, an increase of 29.8% compared to $2.4 million for the three months
ended March 31, 2005.  The increase is primarily  attributable  to the growth in
loan balances. The net interest margin for the three months ended March 31, 2006
was 4.3%, compared to 4.5% for the comparable period of 2005.

         Interest  income  increased  by $1.9 million for the three months ended
March 31, 2006, primarily as a result of an increase of $73.3 million in average
interest-earning  assets.  Average loans outstanding  increased by $71.2 million
and average  investment  securities and federal funds increased by $2.1 million.
Yields on earning  assets for the three months ended March 31, 2006 increased to
7.6% from 6.8% for the same period of 2005.  Interest expense  increased by $1.1
million, which is primarily attributable to average interest-bearing liabilities
increasing  by $65.6  million  coupled  with a general  rise in interest  rates.
Average  interest-bearing  deposits  increased  by  $52.5  million  and  average
borrowings increased by $13.1 million. The average rate paid on interest-bearing
liabilities  increased  to 3.8% for the three  months  ended March 31, 2006 from
2.7% for the same period of 2005.

         Provision  for Loan Losses.  The provision for loan losses was $235,000
for the three  months  ended March 31,  2006,  compared to $232,134 for the same
period in 2005.

         Noninterest Income.  Noninterest income increased  $103,143,  or 67.6%,
for the three months ended March 31, 2006 to $255,850,  up from $152,707 for the
same period of 2005, reflecting mainly an increase in other fee income.

         Noninterest  Expenses.  For the three  months  ended  March  31,  2006,
noninterest  expenses increased by $242,834,  or 21.4%, to $1.4 million compared
to $1.1  million for the same period of 2005. A 28.6%  increase in  compensation
expenses was related to personnel  costs for staffing  increases to support loan
and deposit  growth.  Marketing  costs  increased  for new  promotional  deposit
programs.

         Income Taxes. The Company  recorded income tax expense of $724,220,  on
income  before  taxes of $1.8 million for the three months ended March 31, 2006,
resulting in an effective  tax rate of 40.3%,  compared to income tax expense of
$486,000  on income  before  taxes of $1.2  million for the same period of 2005,
resulting in an effective tax rate of 39.9%.

                               Financial Condition
                     At March 31, 2006 and December 31, 2005
                                   (Unaudited)

         The following  discussion compares the financial condition at March 31,
2006 to the financial statements at December 31, 2005. This discussion should be
read in conjunction with the accompanying financial statements and related notes
as well as statistical information included in this Form 10-Q.

         Total assets increased to $309.2 million at March 31, 2006, compared to
$297.8 million at December 31, 2005,  increasing  $11.4 million,  or 3.8%. Gross
loans  outstanding  increased to $272.0 million,  or 5.0% from $259.0 million at
December 31, 2005.  Deposits increased by $16.3 million, or 7.0%. Borrowed funds
decreased by $6.2  million,  or 17.2%.  Shareholders'  equity  increased by $1.3
million,  or 4.8%,  driven by net income of $1.1  million  for the three  months
ended March 31, 2006,  and the exercise of warrants and options in the amount of
$288,411.

                                       12

<PAGE>

         The  increase  in total loans was  primarily  due to  increases  in the
commercial  loans,  which grew by $10.9 million and totaled $246.9 million as of
March 31, 2006.  This increase is in line with  management's  strategic plan and
reflects  increased  origination  activity over the past year and a strong local
real estate market.  All other categories of loans increased in the aggregate by
$2.0 million.

         Allowance  for Loan  Losses.  The  allowance  for loan  losses was $3.8
million at March 31, 2006 as compared to $3.6 million at December 31, 2005.  The
ratio of the  allowance  for loan  losses to total loans  increased  to 1.40% at
March 31, 2006 from 1.38% at December 31, 2005.  The  Company's  management  has
considered non-performing assets and other assets of concern in establishing the
allowance  for loan losses.  The Company  continues to monitor its allowance for
loan losses and will make future  additions or  reductions in light of the level
of loans in its portfolio and as economic conditions dictate.  The current level
of the  allowance  for loan  losses  is a result of the  Company's  management's
assessment of the risks within the portfolio based on the  information  revealed
in credit reporting processes.  The Company utilizes a risk-rating system on all
commercial, business, agricultural, construction and multi-family and commercial
real estate  loans,  including  purchased  loans.  A periodic  credit  review is
performed on all types of loans to establish the necessary  reserve based on the
estimated risk within the portfolio.  This assessment of risk takes into account
the composition of the loan portfolio,  historical loss experience for each loan
category,  previous loan experience,  concentrations of credit, current economic
conditions, and other factors that in management's judgment deserve recognition.

         Although  the  Company's  management  believes  that it uses  the  best
information available to determine the allowances,  unforeseen market conditions
could result in  adjustments  and net earnings being  significantly  affected if
circumstances differ substantially from the assumptions used in making the final
determinations.  Future  additions to the Company's  allowances  may result from
periodic loan,  property and collateral  reviews and thus cannot be predicted in
advance.

         Non-performing  assets,  expressed  as a  percentage  of total  assets,
remained the same at 0.6% at March 31, 2006 and December 31, 2005.  At March 31,
2006, the Company had $2.0 million in non-accruing  loans,  which increased from
$1.9  million in  non-accruing  loans at  December  31,  2005.  One loan  became
non-accrual during the quarter ended March 31, 2006.

         Deposits. Deposits totaled $248.3 million at March 31, 2006, increasing
$16.3 million,  or 7.0%,  from the December 31, 2005 balance of $232.1  million.
The increase in deposits is  attributable to the Company's  management's  growth
strategy,  which includes significant marketing,  promotion and cross selling of
additional products to existing customers.

         Included in deposits at March 31, 2006 and December 31, 2005 were $64.9
million and $67.2 million, respectively, of brokered deposits.

         Borrowings.  Total  borrowings,  consisting of borrowed funds,  Federal
Home Loan Bank  (FHLB)  advances  and  subordinated  debentures,  totaled  $29.8
million at March 31, 2006,  decreasing $6.2 million, or 17.2%, from December 31,
2005. The decrease was a result of maturities of FHLB advances during 2006.

                                       13

<PAGE>

Comparative Average Balances, Interest and Yields

         The following table provides information regarding the average balances
and  yield/rates on  interest-earning  assets and  interest-bearing  liabilities
during the periods indicated:

<TABLE>
<CAPTION>
                                                                            Three Months Ended
                                              -----------------------------------------------------------------------------------
                                                           March 31, 2006                                March 31, 2005
                                              -------------------------------------      ----------------------------------------
                                                                Interest                                    Interest
                                              Average           Income/       Annual     Average            Income/       Annual
                                              Balance           Expense       Yield      Balance            Expense       Yield
                                              -------           -------       -----      -------            -------       -----
<S>                                      <C>                 <C>            <C>      <C>                 <C>             <C>
                                 Assets
                                  Loans    $264,439,833        $5,249,988     7.9%     $193,250,264        $3,399,121      7.0%
                  Investment securities      25,473,809           302,452     4.8        24,950,310           297,248      4.8

                     Federal funds sold       1,573,196            17,057     4.3            21,541               118      2.2
                                           ------------        ----------              ------------        ----------
          Total interest-earning assets     291,486,838        $5,569,497     7.6       218,222,115        $3,696,487      6.8
                                                               ==========                                  ==========

              Allowance for loan losses      (3,642,812)                                 (2,702,390)
                           Other assets      15,950,334                                  14,421,094
                                           ------------                                ------------
                           Total assets    $303,794,360                                $229,940,819
                                           ============                                ============

   Liabilities and Shareholders' Equity
               Regular savings deposits    $ 34,264,053        $  273,148     3.2%     $ 22,967,645        $  115,983      2.0%
                     NOW & money market      22,755,372           126,117     2.2        28,052,212           120,180      1.7
                          Time deposits     166,697,709         1,624,393     3.9       120,180,595           879,717      2.9
                                           ------------        ----------              ------------        ----------
        Total interest-bearing deposits     223,717,134         2,023,658     3.6       171,200,452         1,115,880      2.6

                             Borrowings      32,090,464           390,330     4.9        18,978,761           149,321      3.1
                                           ------------        ----------              ------------        ----------
     Total interest-bearing liabilities     255,807,598        $2,413,988     3.8       190,179,213        $1,265,201      2.7
                                                               ==========                                  ==========

                   Non interest-bearing
                        demand deposits      17,416,621                                  14,671,678

                      Other liabilities       2,602,665                                   1,587,403
                   Shareholders' equity      27,967,476                                  23,502,525
                                           ------------                                ------------
                  Total liabilities and
                   shareholders' equity    $303,794,360                                $229,940,819
                                           ============                                ============

                    Net interest income                        $3,155,509                                  $2,431,286
                                                               ==========                                  ==========

                   Interest rate spread                                       3.8%                                         4.1%

                    Net interest margin                                       4.3%                                         4.5%
</TABLE>

Critical Accounting Policy

         The Company's  financial  statements  are prepared in  accordance  with
accounting  principles  generally accepted in the United States of America.  The
financial  information  contained  within these  statements is, to a significant
extent,  financial  information  that  is used on  approximate  measures  of the
financial effects of transactions and events that have already  occurred.  Based
on its  consideration  of accounting  policies that involve the most complex and
subjective  decisions  and  assessments,  management  has  identified  its  most
critical  accounting policy to be related to the allowance for loan losses.  The
Company's  allowance for loan loss  methodology  incorporates  a variety of risk
considerations,  both  quantitative and qualitative in establishing an allowance
for loan loss that  management  believes is appropriate at each reporting  date.
Quantitative   factors  include  the  Company's   historical  loss   experience,

                                       14

<PAGE>

delinquency and charge-offs trends,  collateral values, changes in nonperforming
loans,  and  other  factors.   Quantitative   factors  also  incorporate   known
information about individual loans, including borrowers' sensitivity to increase
rate movements.  Qualitative factors include the general economic environment in
the Company's market area. Size and complexity of individual credits in relation
to loan structure, existing loan policies and pace of portfolio growth are other
qualitative  factors that are  considered  in the  methodology.  Management  may
report a materially  different  amount for the  provision for loan losses in the
statement  of  operations  to  change  the  allowance  for  loan  losses  if its
assessment of the above factors were  different.  This  discussion  and analysis
should be read in conjunction  with the Company's  financial  statements and the
accompanying  notes presented  elsewhere  herein, as well as the portion of this
Managements  Discussion  and  Analysis,  which  discusses the allowance for loan
losses in this section,  entitled  "Financial  Condition".  Although  management
believes the level of this allowance as of March 31, 2006 was adequate to absorb
losses inherent in the loan portfolio,  a decline in local economic  conditions,
or other factors,  could result in increasing  losses that can not be reasonably
predicated at this time.

Liquidity and Capital Resources

         Liquidity describes our ability to meet the financial  obligations that
arise out of the ordinary course of business.  Liquidity addresses the Company's
ability to meet deposit  withdrawals  on demand or at contractual  maturity,  to
repay borrowings as they mature,  and to fund current and planned  expenditures.
Liquidity is derived from increased  repayment and income from  interest-earning
assets.  The loan to deposit  ratio was 108.1% and 110.0% at March 31,  2006 and
December 31, 2005, respectively. Funds received from new and existing depositors
provided a large source of liquidity for the three-month  period ended March 31,
2006.  The Company seeks to rely  primarily on core  deposits from  customers to
provide  stable and  cost-effective  sources of funding to support local growth.
The  Company  also seeks to augment  such  deposits  with longer term and higher
yielding  certificates  of deposit.  To the extent that retail  deposits are not
adequate  to  fund  customer  loan  demand,  liquidity  needs  can be met in the
short-term  funds  market.  Longer  term  funding  can be  obtained  through the
issuance of trust  preferred  securities and advances from the FHLB. As of March
31, 2006, the Company maintained lines of credit with the FHLB of $23.9 million.

         As of March 31, 2006,  the Company's  investment  securities  portfolio
included $8.9 million of  mortgage-backed  securities  that provide  significant
cash flow each month. The majority of the investment  portfolio is classified as
available for sale, is readily  marketable,  and is available to meet  liquidity
needs. The Company's residential real estate portfolio includes loans, which are
underwritten to secondary market criteria,  and accordingly could be sold in the
secondary  mortgage market if needed as an additional  source of liquidity.  The
Company's management is not aware of any known trends,  demands,  commitments or
uncertainties  that are  reasonably  likely  to result in  material  changes  in
liquidity.

Capital

         A strong  capital  position is  fundamental  to support  the  continued
growth of the  Company.  The  Company is subject to various  regulatory  capital
requirements.  Regulatory  capital  is  defined  in  terms  of  Tier  I  capital
(shareholders'   equity  as  adjusted   for   unrealized   gains  or  losses  on
available-for-sale securities), Tier II capital (which includes a portion of the
allowance for loan losses) and total  capital (Tier I plus Tier II).  Risk-based
capital  ratios  are  expressed  as  a  percentage  of   risk-weighted   assets.
Risk-weighted  assets are determined by assigning  various weights to all assets
and off-balance sheet associated risk. Regulators have also adopted minimum Tier
I leverage ratio  standards,  which measure the ratio of Tier I capital to total
assets.

         At March 31, 2006, the Company's  management believes that the Bank and
the  Company  are  "well-capitalized"  and in  compliance  with  all  applicable
regulatory requirements.

                                       15

<PAGE>

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

         There have been no  material  changes  from the  information  regarding
market risk disclosed under the heading "Management's Discussion and Analysis of
Financial  Condition and Results of Operations -- Interest Rate  Sensitivity and
Liquidity -- Rate  Sensitivity  Analysis" in the Company's Annual Report for the
fiscal year ended December 31, 2005.

ITEM 4. CONTROLS AND PROCEDURES

Disclosure Controls and Procedures

         Evaluation  of  disclosure  controls  and  procedures.  Based  on their
evaluation of the Company's  disclosure  controls and  procedures (as defined in
Rule 13a-15(e) under the Securities Exchange Act of 1934, (the "Exchange Act")),
the Company's  principal  executive officer and principal financial officer have
concluded that as of the end of the period  covered by this Quarterly  Report on
Form 10-Q, such disclosure  controls and procedures are effective to ensure that
information  required to be disclosed by the Company in reports that it files or
submits under the Exchange Act is recorded,  processed,  summarized and reported
within the required time periods.

Internal Controls

         Changes in internal control over financial  reporting.  During the last
fiscal  quarter,  there was no change in the  Company's  internal  control  over
financial  reporting that has materially  affected,  or is reasonably  likely to
materially affect, the Company's internal control over financial reporting.

                                       16

<PAGE>

                           PART II. OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

         On December 27,  2004,  Republic  First Bank filed an action  captioned
Republic  First Bank v. Parke Bank and Vito S.  Pantilione in the Superior Court
of New Jersey Law Division, Gloucester County. The Bank believes that the action
is without merit and intends to vigorously  defend against it. The suit alleges,
among other things, fraud, negligent misrepresentation, breach of fiduciary duty
and  breach of  contract  in  connection  with  certain  loans to two Parke Bank
customers in which Republic First Bank became a participant. Republic First Bank
is seeking  unspecified  damages and requesting that a receivership be appointed
for certain collateral.  The complaint in the action was served on us in January
2005.  The Bank filed an answer to the  complaint,  and the case is currently in
the discovery phase.

         On June 1, 2005,  Atlantic  Central  Bankers  Bank and New Century Bank
filed an action captioned  Atlantic Central Bankers Bank and New Century Bank v.
Parke  Bank and  Parke  Capital  Markets  in the  Superior  Court of New  Jersey
Chancery Division, Cape May County. The Bank believes that the action is without
merit and intends to vigorously  defend  against it. The suit alleges  breach of
participation agreements and fraudulent misrepresentation in connection with the
plaintiffs'  participations  in loans to the same  Parke Bank  customers  as the
Republic First Bank matter  discussed  above.  In August 2005,  the  plaintiffs'
motion for a preliminary injunction was denied, and they were ordered to pay the
Bank's expenses.  This case has been  consolidated  with the Republic First Bank
case, and is currently in the discovery phase.

         On November 4, 2004,  Stephen P.  Magenta  and other  parties  filed an
action captioned  Stephen P. Magenta,  et. al. v. General  Insulation  Services,
Inc.,  et. al. in the  Superior  Court of New Jersey  Law  Division,  Gloucester
County, related to the alleged embezzlement of over $1 million by an employee of
one of our customers of funds maintained in accounts at the Bank. All but one of
the claims  against the Bank have been  dismissed.  The Bank  believes  that the
action  is  without  merit and  intends  to  vigorously  defend  against  it. In
addition, the Bank believes that this action is covered by its insurance.

         Other than the  foregoing,  at March 31,  2006,  the  Company was not a
party to any material legal proceedings.

ITEM 1A.          RISK FACTORS

         There have been no material changes from the Risk Factors  disclosed in
Company's Annual Report for the fiscal year ended December 31, 2005.

ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

         None.

ITEM 3.  DEFAULT UPON SENIOR SECURITIES

         None.

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

         None.

ITEM 5.  OTHER INFORMATION

         None.


                                       17
<PAGE>

ITEM 6.  EXHIBITS

         31       Certifications required by Rule 13a-14(a).
         32       Certification required by 18 U.S.C. ss.1350.

                                       18
<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.


                                           PARKE BANCORP, INC.





Date: May 15, 2006                         /s/VITO S. PANTILIONE
                                           -------------------------------------
                                           Vito S. Pantilione
                                           President and Chief Executive Officer
                                           (Principal Executive Officer)





Date: May 15, 2006                         /s/ERNEST D. HUGGARD
                                           -------------------------------------
                                           Ernest D. Huggard
                                           Senior Vice President and
                                           Chief Financial Officer
                                           (Principal Accounting Officer)