04:35 PM EDT, 08/02/2024 (MT Newswires) -- Parke Bancorp ( PKBK ) said Friday its board has approved a plan to buy back up to 5% of its shares during the next 12 months.

"We believe that at current prices the company's stock is a very attractive investment for the company, and that repurchasing its common stock would enhance shareholder value," said Chief Executive Officer Vito Pantilione.

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