UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-K/A
Amendment No. 1
ANNUAL REPORT
PURSUANT TO SECTIONS 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
(Mark One)
[☒ ] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended: December 31 , 2024
[☐ ] 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
| (Exact name of Registrant as specified in its Charter) | ||
| (State or other Jurisdiction of Incorporation or Organization) | (I.R.S. Employer Identification No.) | |||||||
| (Address of Principal Executive Offices) | (Zip Code) | |||||||
Registrant’s telephone number, including area code: 856 -256-2500
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered | ||||||
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes o No ý
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes o No ý
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 ý No o
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§229.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ý No o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and emerging growth company in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer o | Accelerated filer ☒ | Smaller reporting company | Emerging growth company | |||||||||||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for compliance with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐
Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act).
Yes ☐ No ☒
The aggregate market value of the voting stock held by non-affiliates of the Registrant, based on the closing price of the Registrant’s common stock as quoted on the Nasdaq Capital Market on June 30, 2024 was approximately $171.2 million.
As of March 11, 2025 there were 11,842,596 outstanding shares of the Registrant’s common stock.
DOCUMENTS INCORPORATED BY REFERENCE
1.Portions of the Proxy Statement for the 2025 Annual Meeting of Shareholders. (Part III)
Purpose for Amendment:
The purpose of this amendment is solely to supplement Part IV, Item 15, of the Annual Report on Form 10-K for Parke Bancorp, Inc. (the “Company”) for the fiscal year ended December 31, 2024, as filed with the Securities and Exchange Commission on March 12, 2025, to include (i) footnote 9 to Exhibit 10.9 to incorporate the exhibit by reference to the Company’s Form 10-K filed on March 15, 2023; (ii) Exhibit 19, the Stock Trading Policy of the Company, which was inadvertently omitted from the original filed copy of the Form 10-K; and (iii) footnote 10 to Exhibit 97 to incorporate the exhibit by reference to the Company’s Form 10-K filed on March 13, 2024. This Form 10-K/A does not reflect events occurring after the filing of the original Form 10-K, or modify or update the disclosures therein.
Item 15. Exhibits and Financial Statement Schedules
| (a) | Listed below are all financial statements, schedules and exhibits filed as part of this Form 10-K/A: | |||||||
| 10.9 | ||||||||
| 19 | ||||||||
| 97 | ||||||||
| (9) Incorporated herein by reference from the identically numbered exhibit to the Company’s Form 10-K filed with the Commission on March 15, 2023 (File No. 000-51338). | ||||||||
| (10) Incorporated herein by reference from the identically numbered exhibit to the Company’s Form 10-K filed with the Commission on March 13, 2024 (File No. 000-51338). | ||||||||
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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 as of March 27, 2025.
PARKE BANCORP, INC. | |||||||||||||||||
| /s/ Vito S. Pantilione | |||||||||||||||||
By: | Vito S. Pantilione President, Chief Executive Officer and Director | ||||||||||||||||
| /s/ Jonathan D. Hill | |||||||||||||||||
| By: | Jonathan D. Hill Senior Vice President and Chief Financial Officer (Principal Financial Officer and Accounting Officer) | ||||||||||||||||