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

                                   Form 10-QSB

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

                 For the quarterly period ended: March 31, 2005

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

           For the transition period from ____________ to ____________

                          Registration No. 333-122406

                               PARKE BANCORP, INC.
--------------------------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)


                New Jersey                                     65-1241959
---------------------------------------------                 ------------
(State or other jurisdiction of incorporation                 IRS Employer
or organization)                                          Identification Number)

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

                                  856-256-2500
--------------------------------------------------------------------------------
                           (Issuer's telephone number)

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

         Check whether the issuer (1) filed all reports  required to be filed by
Section 13 or 15(d) of the  Exchange  Act during the past 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     No X
                                                                       ---   ---

                      Applicable only to corporate issuers

         State the number of shares  outstanding of each of the issuer's classes
of common equity as of the latest  practicable date: 0 shares  outstanding as of
May 19, 2005.



    Transitional Small Business Disclosure Format (check one): Yes     No  X
                                                                   ---    ---
<PAGE>

                               PARKE BANCORP, INC.
                                   FORM 10-QSB
                      FOR THE QUARTER ENDED MARCH 31, 2005
                                      INDEX


Part I       FINANCIAL INFORMATION                                          Page
------                                                                      ----

Item 1.      Financial Statements                                             2
Item 2.      Management's Discussion and Analysis or Plan of Operation        9
Item 3.      Controls and Procedures                                         13

Part II      OTHER INFORMATION
------

Item 1.      Legal Proceedings                                               14
Item 2.      Unregistered Sales of Equity Securities and Use of Proceeds     14
Item 3.      Default Upon Senior Securities                                  14
Item 4.      Submission of Matters to a Vote of Security Holders             14
Item 5.      Other Information                                               14
Item 6.      Exhibits                                                        14

SIGNATURES                                                                   15

CERTIFICATIONS


                                       1

<PAGE>

ITEM 1.  FINANCIAL STATEMENTS

Financial  statements  provided  in this  Form  10-QSB  are for  Parke  Bank and
subsidiary.

Separate financial statements for Parke Bancorp,  Inc. have not been included in
this  Form  10-QSB  because  Parke  Bancorp  Inc,  which  has  engaged  in  only
organizational  activities to date,  has no  significant  assets,  contingent or
other liabilities, revenues, expenses or earnings per share.

The  reorganization of Parke Bank into the holding company form of ownership was
approved by  stockholders of Parke Bank at a meeting held on May 10, 2005 and is
expected  to become  effective  on June 1, 2005 at which  time  Parke  Bank will
become a wholly-owned subsidiary of Parke Bancorp, Inc.

                                       2

<PAGE>

                            PARKE BANK AND SUBSIDIARY
                           CONSOLIDATED BALANCE SHEETS
                      MARCH 31, 2005 AND DECEMBER 31, 2004

<TABLE>
<CAPTION>
                                                                                      March 31,      December 31,
                                                                                        2005             2004
                                                                                   -------------    -------------
                                                                                    (unaudited)
<S>                                                                              <C>              <C>
                                    ASSETS
Cash and cash due from banks                                                       $   3,545,142    $   1,780,280
Federal funds sold                                                                        21,625           21,508
                                                                                   -------------    -------------
    Cash and cash equivalents                                                          3,566,767        1,801,788
                                                                                   -------------    -------------

Investment securities available-for-sale, at market value                             24,535,734       24,042,802
Investment securities held to maturity, at amortized cost
       (market value: $547,285 March 31, 2005; $540,740 December 31, 2004)               547,290          547,632
                                                                                   -------------    -------------
    Total investment securities                                                       25,083,024       24,590,434
                                                                                   -------------    -------------

Restricted stock, at cost                                                                998,500        1,064,200
                                                                                   -------------    -------------

Loans                                                                                200,550,290      188,606,990
Less: allowance for loan losses                                                       (2,852,785)      (2,620,651)
                                                                                   -------------    -------------
    Total net loans                                                                  197,697,505      185,986,339
                                                                                   -------------    -------------

Bank premises and equipment, net                                                       3,206,152        3,247,179
Accrued interest receivable and other assets                                           8,153,222        7,648,623
                                                                                   -------------    -------------
       Total assets                                                                $ 238,705,170    $ 224,338,563
                                                                                   =============    =============


                     LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
    Noninterest-bearing demand                                                     $  15,255,130    $  15,960,444
    Interest-bearing                                                                 178,034,540      163,624,567
                                                                                   -------------    -------------
             Total deposits                                                          193,289,670      179,585,011
Borrowed funds                                                                        19,492,918       20,378,726

Accrued interest payable and other accrued liabilities                                 2,046,494        1,545,675
                                                                                   -------------    -------------

        Total liabilities                                                           214,829,082      201,509,412
                                                                                   -------------    -------------

COMMITMENTS AND CONTINGENCIES (Note 1)
SHAREHOLDERS' EQUITY
  Common stock,
    $5 par value,  10,000,000 shares authorized;  2,233,133 and 2,175,559 shares
    issued and outstanding at March 31, 2005 and December 31, 2004, respectively      11,165,665       10,877,795
  Additional paid-in capital                                                           8,916,188        8,729,863
  Retained earnings                                                                    4,024,714        3,292,697
  Accumulated other comprehensive income (loss)                                         (230,479)         (71,204)
                                                                                   -------------    -------------
      Total shareholders' equity                                                      23,876,088       22,829,151
                                                                                   -------------    -------------
      Total liabilities and shareholders' equity                                   $ 238,705,170    $ 224,338,563
                                                                                   =============    =============
</TABLE>

    See Notes to Consolidated Financial Statements

                                       3

<PAGE>

                            PARKE BANK AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)

<TABLE>
<CAPTION>

                                                           For the three      For the three
                                                            months ended       months ended
                                                           March 31, 2005     March 31, 2004
                                                           --------------     --------------
<S>                                                        <C>                <C>
INTEREST INCOME
   Interest and fees on loans                                $3,399,121         $2,590,985
   Interest and dividends on securities                         297,248            156,411
    Interest on federal funds sold                                  118             10,155
                                                             ----------         ----------
      Total interest and dividend income                      3,696,487          2,757,551
                                                             ----------         ----------

INTEREST EXPENSE
   Interest on deposits                                       1,115,880            853,169
   Interest on borrowings                                       149,321             46,803
                                                             ----------         ----------
      Total interest expense                                  1,265,201            899,972
                                                             ----------         ----------

      Net interest income                                     2,431,286          1,857,579

PROVISION FOR LOAN LOSSES                                       232,134            112,875
                                                             ----------         ----------

      Net interest income after provision for losses          2,199,152          1,744,704
                                                             ----------         ----------

   NONINTEREST INCOME
    Loan brokerage fees                                               -                  -
    Service charges and other fee income                        152,707            152,897
    Gain on sale of securities                                        -                  -
                                                             ----------         ----------
      Total noninterest income                                  152,707            152,897
                                                             ----------         ----------

   NONINTEREST EXPENSES
     Compensation and benefits                                  526,032            410,812
     Occupancy, equipment and data processing                   195,078            224,266
     Marketing and business development                          33,827             45,213
     Professional services                                      197,408             45,232
     Other operating expenses                                   181,497            148,353
                                                             ----------         ----------
       Total noninterest expenses                             1,133,842            873,876
                                                             ----------         ----------

      INCOME BEFORE INCOME TAX EXPENSE                        1,218,017          1,023,725

      INCOME TAX EXPENSE                                        486,000            400,400
                                                             ----------         ----------

      NET INCOME                                             $  732,017         $  623,325
                                                             ==========         ==========

      NET INCOME PER COMMON SHARE
         Basic                                               $     0.33         $     0.29
                                                             ==========         ==========
         Diluted                                             $     0.28         $     0.25
                                                             ==========         ==========

      WEIGHTED AVERAGE SHARES OUTSTANDING
         Basic                                                2,204,778          2,146,603
                                                             ==========         ==========
         Diluted                                              2,627,676          2,522,584
                                                             ==========         ==========
</TABLE>

  See Notes to Consolidated Financial Statements

                                       4

<PAGE>

                            PARKE BANK AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                   THREE MONTHS ENDED MARCH 31, 2005 AND 2004
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                       2005            2004
                                                                                 ------------    ------------
<S>                                                                            <C>             <C>
OPERATING ACTIVITIES
Net income                                                                       $    732,017    $    623,325
 Adjustments to reconcile net income to net cash provided by
 (used in) operating activities:
   Depreciation and amortization                                                       65,752          54,458
   Provision for loan losses                                                          232,134         112,875
   Net (accretion) amortization of investment securities                              (34,944)        (17,214)
 Changes in operating assets and liabilities:
   Increase in accrued interest receivable and other assets                          (398,416)       (889,258)
   Increase in accrued interest payable and other liabilities                         500,819         371,133
                                                                                 ------------    ------------
   Net cash provided by (used in) operating activities                              1,097,362        (255,319)
                                                                                 ------------    ------------

 INVESTING ACTIVITIES
   Purchases of available for sale investment securities                           (1,000,000)     (2,479,798)
   Proceeds from sales of restricted stock                                             65,700             700
   Proceeds from sales and maturities of securities                                         -       1,000,000
   Principal payments on mortgage-backed securities                                   276,896         487,702
   Net increase in loans                                                          (11,943,300)     (7,880,042)
   Purchase of bank owned life insurance                                                    -      (2,000,000)
   Purchase of building and equipment                                                 (24,725)        (63,584)
                                                                                 ------------    ------------
   Net cash used in investing activities                                          (12,625,429)    (10,935,022)
                                                                                 ------------    ------------

 FINANCING ACTIVITIES
   Proceeds from issuance of common stock                                             474,195          34,498
   Net decrease in borrowings                                                        (885,808)     (1,015,079)
   Net increase in interest bearing deposits                                       14,409,973      14,522,540
   Net decrease in noninterest-bearing deposits                                      (705,314)       (172,970)
                                                                                 ------------    ------------
   Net cash provided by financing activities                                       13,293,046      13,368,989
                                                                                 ------------    ------------

 INCREASE IN CASH AND CASH EQUIVALENTS                                              1,764,979       2,689,286

 CASH AND CASH EQUIVALENTS, JANUARY 1,                                              1,801,788       4,267,256
                                                                                 ------------    ------------

 CASH AND CASH EQUIVALENTS, MARCH 31,                                            $  3,566,767    $  6,956,542
                                                                                 ============    ============

 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
 Cash paid during the period for:
   Interest on deposits and borrowed funds                                       $  1,032,738    $    861,111
                                                                                 ============    ============
   Income taxes                                                                  $          -    $    100,000
                                                                                 ============    ============
</TABLE>

   See Notes to Consolidated Financial Statements

                                        5

<PAGE>

                            PARKE BANK AND SUBSIDIARY
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

NOTE 1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Business

         Parke Bank (the "Bank") is a commercial bank, which was incorporated on
August 25, 1998,  and  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").  The Bank maintains its principal office
at 601 Delsea Drive,  Washington Township, New Jersey. It also conducts business
through offices in Northfield and Washington Township, New Jersey. 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, 2005 and for the three months
ended March 31, 2005 and March 31, 2004  included  herein have not been audited.
Certain  information  and footnote  disclosures  normally  included in financial
statements prepared in accordance with accounting  principles generally accepted
in the  United  States of  America  ("GAAP")  have been  condensed  or  omitted;
therefore,  these financial  statements  should be read in conjunction  with the
audited financial  statements and the notes thereto for the years ended December
31, 2004 and 2003  included in the Bank's  Annual  Report on Form 10-KSB for the
fiscal year ended  December 31, 2004, as filed with the FDIC.  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, 2005 are not necessarily indicative
of the results that may be expected for the year ending December 31, 2005.

Basis of Financial Statement Presentation

         The  financial  statements  include the  accounts of Parke Bank and its
subsidiary.  All significant  inter-company  accounts and transactions have been
eliminated.  Such  statements  have been prepared in accordance  with accounting
principles  generally  accepted  in the  United  States of America  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.

Critical Accounting Policies

Allowance for Losses on Loans.  The allowance for loan losses is  established as
losses are estimated to have occurred through a provision for loan losses. Loans
that are  determined  to be  uncollectible  are charged  against  the  allowance
account, and subsequent recoveries,  if any, are credited to the allowance. When
evaluating  the adequacy of the  allowance,  an assessment of the loan portfolio
will  typically  include  changes  in the  composition  and  volume  of the loan
portfolio,  overall  portfolio  quality  and past  loss  experience,  review  of
specific problem loans,  current economic conditions which may affect borrowers'
ability to repay, and other factors which may warrant current recognition.  Such
periodic  assessments  may,  in  management's  judgment,  require  the  Bank  to
recognize additions or reductions to the allowance.

Investments. The Bank 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 interest rates,  prepayments and similar  factors.  These securities are
classified as  "available-for-sale"  are carried at fair value,  with  temporary
unrealized   gains  or  losses  reported  as  a  separate   component  of  other

                                       6

<PAGE>

comprehensive income, 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,  are included in noninterest  income in the statement 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 Bank  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, 2005 are the result of market
changes in interest  rates since the  securities  where  purchased.  This factor
coupled  with  the  fact the Bank  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 Bank 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 Bank. 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
Bank.


NOTE 2.  EARNINGS PER SHARE

         Basic  earnings per share is computed by dividing  income  available to
common  stockholders  (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, 2005 and 2004 was 2,204,778 and 2,146,603, respectively.

         Dilutive  earnings  per share is  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 422,898 and 375,981
additional  shares  for  the  three  months  ended  March  31,  2005  and  2004,
respectively.

         Both basic and diluted earnings per share computations give retroactive
effect to stock dividends declared in 2004.


NOTE 3.  STOCK-BASED EMPLOYEE COMPENSATION

          The Bank has  stock-based  employee  compensation  plans. As permitted
under generally accepted accounting principles, grants of options under the plan
are  accounted  for under the  recognition  and  measurement  principles  of APB
Opinion  No.  25,  Accounting  for  Stock  Issued  to  Employees,   and  related
Interpretations.  Because  options granted under the plans had an exercise price
equal to or greater than the market value of the underlying  common stock on the
date  of  grant,  no  stock-based  employee  compensation  cost is  included  in
determining net income. The following table illustrates the effect on net income
and earnings  per share for the three  months ended March 31, 2005 and 2004,  if
the  Bank 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.

                                       7

<PAGE>

<TABLE>
<CAPTION>
                                                                  Three Months Ended
                                                                        March 31,
                                                                  2005           2004
                                                              -----------    -----------

<S>                                                         <C>            <C>
Net income, as reported                                       $   732,017    $   623,325
Deduct total stock-based compensation expense
determined under the fair value method for all awards,  net
of related tax effects                                            (90,000)       (34,800)
                                                              -----------    -----------
Pro-forma net income                                          $   642,017    $   588,525
                                                              ===========    ===========

Basic earnings per share:
    As reported                                               $      0.33    $      0.29
    Pro forma                                                 $      0.29    $      0.27

Diluted earnings per share:
    As reported                                               $      0.28    $      0.25
    Pro forma                                                 $      0.24    $      0.23

</TABLE>


NOTE 4.  REGULATORY RESTRICTIONS

         The Bank is 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
Bank'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
qualitative judgments by the regulators about components,  risk weightings,  and
other factors.

         Quantitative  measures  established  by  regulation  to ensure  capital
adequacy  require 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).

<TABLE>
<CAPTION>
                                                                                                  For Capital
                                                                      Actual                    Adequacy Purpose

                                                                Amount      Ratio              Amount     Ratio
                                                                ------      -----              ------     -----

As of March 31, 2005:                                      (000 omitted)                 (000 omitted)
--------------------
<S>                                                          <C>          <C>              <C>           <C>
Total Risk Based Capital (to Risk Weighted Assets)              $26,577      13%              $16,105       8%

Tier 1 Capital (to Risk Weighted Assets)                         24,056      12%                8,053       4%

Tier 1 Capital (to Average Assets)                               24,056      11%                9,198       4%

As of December 31, 2004:
------------------------

Total Risk Based Capital (to Risk Weighted Assets)              $25,254      13%              $15,042       8%

Tier 1 Capital (to Risk Weighted Assets)                         22,900      12%                7,521       4%

Tier 1 Capital (to Average Assets)                               22,900      11%                8,301       4%

</TABLE>


         Management  believes,  as of March 31, 2005 and December 31, 2004, that
the Bank meets all capital adequacy requirements to which it is subject.

                                       8

<PAGE>

NOTE 5.  SUBSEQUENT EVENT

         At the  2005  Annual  Meeting  of  Shareholders  held on May 10,  2005,
stockholders  of the Bank  approved a proposal to  reorganize  the Bank into the
holding company form of ownership in accordance with a Plan of Acquisition under
which (i) the Bank will become a wholly-owned subsidiary of Parke Bancorp, Inc.,
a New-Jersey  corporation formed for the purpose of becoming the holding company
for the Bank and (ii) each  outstanding  share of the Bank will be automatically
converted  into one  share of Parke  Bancorp,  Inc.  Approvals  have  also  been
received from the Federal  Reserve Board and the  Commissioner of Banking of the
State of New Jersey.

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

Forward-Looking Statements

         The Bank may from time to time make  written  or oral  "forward-looking
statements"   including  statements  contained  in  this  Report  and  in  other
communications  by the Bank 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  Bank'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 Bank's control).  The following  factors,  among others,
could  cause the Bank'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 Bank 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 Bank
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 Bank at  managing  the risks  involved  in the
foregoing.

         The Bank cautions that the foregoing  list of important  factors is not
exclusive.  The Bank 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 Bank 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 Bank  files  from time to time with the SEC,
including quarterly reports on Form 10-QSB, annual reports on Form10-KSB and any
current reports on Form 8-K.

General

         The  Bank'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 Bank also generates non-interest income such as service charges,
BOLI and other  fees.  The  Bank's  noninterest  expenses  primarily  consist of
employee compensation and benefits, occupancy expenses, marketing expenses, data
processing  costs and other  operating  expenses.  The Bank is also  subject  to
losses from its loan portfolio if borrowers fail to meet their obligations.  The
Bank'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.

                                       9

<PAGE>

Results  of  Operations  for the Three  Months  Ended  March  31,  2005 and 2004
(Unaudited)

         The  following  discussion  provides  information  about the results of
operation and the financial condition,  liquidity,  and capital resources of the
Bank and should be read in conjunction with our annual financial  statements and
footnotes thereto.

Results of Operations

         Net  Income.  For the three  months  ended March 31,  2005,  net income
totaled  $732,017,  compared to $623,325  for the three  months  ended March 31,
2004.  Diluted  earnings  per share for the first three  months of 2005  totaled
$0.28, compared to $0.25 for the same period of 2004. The increase in net income
for the first three  months of 2005 was  attributable  primarily to increases in
net interest  income of $573,707 driven by higher levels of loans and investment
securities,  offset by a loan loss provision increase of $119,259, and increases
in noninterest expenses of $259,966, and tax expense of $85,600.

         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  first  three  months  of  2005  totaled
$2,431,286 an increase of 30.9% over $1,857,579 for the three months ended March
31,  2004.  The net interest  margin (net  interest  income as a  percentage  of
average  interest-earning  assets) for the three months ended March 31, 2005 was
4.5%, compared to 4.4% for the comparable period of 2004.

         Interest income  increased by $938,936,  driven by an increase of $47.5
million in average  interest-earning assets. Average loans outstanding increased
by $43.0 million,  and average investment  securities increased by $8.8 million.
Yields on earning  assets for the period ended March 31, 2005  increased to 6.8%
from  6.5% for the  same  period  of 2004 as a result  of  general  increase  in
interest rates. Interest expense increased by $365,229. Average interest-bearing
liabilities  increased  by  $43.4  million.  Average  interest-bearing  deposits
increased  by $34.2  million  and  average  borrowings  also  increased  by $9.2
million. The average rate paid on interest-bearing liabilities increased to 2.7%
for the period ended March 31, 2005 from 2.4% for the same period of 2004,  also
resulting from a general increase in interest rates.

         Provision  for Loan Losses.  The provision for loan losses was $232,134
for the three  months  ended March 31,  2005,  compared to $112,875 for the same
quarter in 2004.  The increase in the  provision for the most recent three month
period was due to an increase in the level of loan growth in 2005 versus 2004.

                                       10

<PAGE>

Comparative Average Balances, Interest and Yields:

<TABLE>
<CAPTION>
                                                                               Three Months  Ended
                                                   -------------------------------------------------------------------------------

                                                             March 31, 2005                                March 31, 2004
                                                 -------------------------------------       --------------------------------------
                                                   Average      Interest       Annual          Average        Interest      Annual
                                                   Balance   Income/Expense    Yield           Balance     Income/Expense   Yield
                                                   -------   --------------    -----           -------     --------------   -----
<S>                                             <C>            <C>              <C>         <C>              <C>             <C>
Assets
  Loans                                           $193,250,264   $3,399,121       7.0%        $150,274,352     $2,590,985      6.9%
  Investment securities                             24,950,310      297,248       4.8           16,149,922        156,411      3.9
  Federal funds sold                                    21,541          118       2.2            4,289,000         10,155      1.0
                                                   -----------   ----------                   ------------     ----------
     Total interest-earning assets                 218,222,115   $3,696,487       6.8          170,713,274     $2,757,551      6.5
                                                                 ==========                                    ==========
  Allowance for loan losses                         (2,702,390)                                 (2,312,508)
  Other assets                                      14,421,094                                  12,800,366
                                                  ------------                                ------------
     Total assets                                 $229,940,819                                $181,201,132
                                                  ============                                ============


Liabilities and shareholders' equity
  Regular savings deposits                         $22,967,645   $  115,983       2.0         $ 22,084,620     $  108,448      2.0
  NOW & money market savings                        28,052,212      120,180       1.7           28,132,603        101,577      1.4
  Time deposits                                    120,180,595      879,717       2.9           86,745,249        643,144      3.0
                                                   -----------   ----------                   ------------     ----------
     Total interest-bearing deposits               171,200,452    1,115,880       2.6          136,962,472        853,169      2.5
  Borrowed funds                                    18,978,761      149,321       3.1            9,832,584         46,803      1.9
                                                   -----------   ----------                   ------------     ----------
     Total interest-bearing liabilities            190,179,213   $1,265,201       2.7          146,795,056     $  899,972      2.4
                                                                 ==========                                    ==========

  Noninterest-bearing demand deposits               14,671,678                                  12,658,823

  Other liabilities                                  1,587,403                                   1,409,965
  Shareholders' equity                              23,502,525                                  20,337,288
                                                  ------------                                ------------
     Total liabilities and shareholders' equity   $229,940,819                                $181,201,132
                                                  ============                                ============
Interest rate spread                                                              4.1%                                         4.1%

Net interest margin                                                               4.5%                                         4.4%
</TABLE>

         Noninterest  Income.  Noninterest  income  decreased $190 for the three
months ended March 31, 2005 to $152,707,  down from $152,897 for the same period
of 2004.

         Noninterest  Expenses.  For the three  months  ended  March  31,  2005,
noninterest  expenses increased by $259,966 or 29.8% to $1,133,842,  compared to
$873,876 for the same period of 2004.  An increase in  compensation  expenses of
28.1%  relates  to  personnel  costs  as a  result  of  staffing  increases  for
additional loan support staff. Occupancy, equipment and data processing expenses
decreased  $29,188 due to reduced costs associated with data processing costs in
the  first  three  months  of  2005,  compared  to  the  same  period  of  2004.
Professional  fees increased  $152,176  because of the costs associated with the
formation of the holding  company and  additional  legal costs  associated  with
servicing certain loans.

         Income  Taxes.  The Bank  recorded  income tax  expense of  $486,000 on
income  before  taxes of  $1,218,017  for the three  months ended March 31, 2005
resulting in an effective  tax rate of 39.9%,  compared to income tax expense of
$400,400  on income  before  taxes of  $1,023,725  for the same  period of 2004,
resulting in an effective tax rate of 39.1%.

                                       11

<PAGE>

Financial Condition

         Total assets increased to $238.7 million at March 31, 2005, compared to
$224.3  million at December 31, 2004,  increasing  $14.4 million or 6.4%.  Loans
outstanding increased $11.9 million or 6.3%. Deposits increased by $13.7 million
or 7.6%.  Borrowed  funds  decreased by $885,808 or 4.4%.  Shareholders'  equity
increased  by $1.0  million or 4.6%,  driven by net income of  $732,017  for the
three months ended March 31, 2005, a decrease in the market value of  securities
classified  as  available  for sale  amounting  to $159,275  and the exercise of
previously issued warrants and options.

         The  increase  in total loans was  primarily  due to  increases  in the
commercial  category,  which grew by $11.5 million and totaled $178.9 million as
of March 31, 2005. 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 by $500,000.

         Allowance  for Loan  Losses.  The  allowance  for loan  losses was $2.9
million at March 31, 2005 as compared to $2.6 at December 31, 2004. The ratio of
the  allowance  for loan losses to total loans  increased  to 1.42% at March 31,
2005 up from 1.39% at December 31, 2004.  The Bank's  management  has considered
nonperforming  assets and other assets of concern in establishing  the allowance
for loan losses.  The Bank  continues to monitor its allowance for possible 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  management's  assessment  of the
risks within the portfolio based on the information revealed in credit reporting
processes.  The Bank 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   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 Bank'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 at .1% at both March 31, 2005 and December 31, 2004.

         At both March 31, 2005 and December 31, 2004,  the Bank had $240,816 in
non-accrual loans.

         Deposits. Deposits totaled $193.3 million at March 31, 2005, increasing
$13.7 million or 7.6% from the December 31, 2004 balance of $179.6 million.  The
increase in deposits is  attributable  to management's  growth  strategy,  which
includes  significant  marketing,  promotion  and cross  selling  of  additional
products to existing customers.

         Included in deposits at March 31, 2005 and December 31, 2004 were $57.5
million and $38.9 million,  respectively, of brokered deposits. During the first
quarter 2005  management  used brokered  deposits to fund the  significant  loan
growth.  Brokered  deposits have  traditionally  been a more volatile  source of
funding than core deposits. In order to retain such deposits,  the Bank may have
to pay a premium rate. In a rising  interest rate  environment,  the Bank may be
unwilling or unable to pay a competitive  rate. To the extent that such deposits
do not remain with the Bank, they may need to be replaced with borrowings  which
could increase the Bank's cost of funds and  negatively  impact its net interest
rate spread and its financial condition.

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 Bank'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 earning  assets.
Our loan to  deposit  ratio was  103.8%  and  98.4% at March 31,

                                       12

<PAGE>

2005 and 2004,  respectively.  Funds  received from new and existing  depositors
provided a source of liquidity  for the three month periods ended March 31, 2005
and 2004.  The Bank seeks to rely  primarily on core deposits from  customers to
provide  stable and  cost-effective  sources of funding to support local growth.
The Bank 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 as well as  through  brokered  deposits.  Longer  term
funding requirements can be obtained through advances from the Federal Home Loan
Bank of New York (FHLBNY).  As of March 31, 2005, the Bank  maintained  lines of
credit with the FHLBNY of $18.8 million.

         As of March  31,  2005,  the  Bank's  investment  securities  portfolio
included $11.7 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 Bank's  residential real estate portfolio  includes loans,  which are
underwritten to secondary market criteria,  and provide an additional  source of
liquidity.  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  Bank.  The  Bank  is  subject  to  various  regulatory  capital
requirements.  Regulatory  capital  is  defined  in  terms  of  Tier  I  capital
(shareholders'  equity  less  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,   2005,   management   believes   that   the  Bank  is
"well-capitalized"   and  in   compliance   with   all   applicable   regulatory
requirements.


ITEM 3. CONTROLS AND PROCEDURES

     (a)  Evaluation  of  disclosure  controls  and  procedures. Based  on their
          evaluation of the Bank's disclosure controls and procedure (as defined
          in Rule 13a-15 (e)) under the  Securities  Exchange  Act of 21934 (the
          "Exchange  Act")),  the  Bank's  principal   executive  and  principal
          financial  officer  have  concluded  that as of the end of the  period
          covered by this Quarterly  Report on Form 10-QSB such disclosed by the
          Bank in reports  that it files or submits  under the  Exchange  Act is
          recorded,  processed,  summarized and reported within the time periods
          specified in Securities and Exchange Commission rules and forms.

     (b)  Changes  in  internal  control  over  financial reporting.  During the
          quarter  report,  there was no charge in the Bank's  internal  control
          over  financial  reporting  that  has  materially   affected,   or  is
          reasonably  likely to materially  affect the Bank's  internal  control
          over financial reporting.

                                       13

<PAGE>

                           PART II. OTHER INFORMATION

ITEM 1.           LEGAL PROCEEDINGS

                  At March  31,  2005,  the  Registrant  and the  Bank  were not
                  parties to any material legal proceedings.

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

                  None.

ITEM 3.           DEFAULT UPON SENIOR SECURITIES

                  None.

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

                  Annual meeting

ITEM 5.           OTHER INFORMATION

                  None.

ITEM 6.           EXHIBITS

                    31   Certifications   pursuant   to   Section   302  of  the
                         Sarbanes-Oxley Act of 2002

                    32   Certification  pursuant to 18 U.S.C.  Section  1350, as
                         adopted  pursuant to Section 906 of the  Sarbanes-Oxley
                         Act of 2002.


                                       14
<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 20, 2005                   By    /s/Vito S. Pantilione
--------------------------------------------------------------------------------
                                           Vito S. Pantilione
                                           President and Chief Executive Officer
                                           (Principal Executive Officer)



Date: May 20, 2005                   By:   /s/Ernest D. Huggard
--------------------------------------------------------------------------------
                                           Ernest D. Huggard
                                           Senior Vice President and
                                           Chief Financial Officer
                                           (Principal Accounting Officer)

                                       15