Summary of PARK BANCORP INC

Change in Directors or Principal Officers, Financial Statements and Exhibits

Item 5.02(d) Departure of Directors or Certain Officers; Election of Directors;
Appointments of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 21, 2009, Allen H. Koranda was appointed to the Board of Directors of Park Bancorp, Inc. (the "Company") and Park Federal Savings Bank (the "Bank"), the Company's banking subsidiary. Mr. Koranda was appointed as a member of the class of directors of the Company whose term expires at the Company's 2010 annual stockholders meeting. The appointment of Mr. Koranda fills a vacancy created by an increase in the size of the Board.

The Company expects to appoint Mr. Koranda to the Board's Audit Committee after the Company's 2009 annual stockholders meeting in May.

In connection with his appointment, Mr. Koranda was granted options to purchase 5,000 shares of the Company's common stock with an exercise price of $5.68 per share (the closing price of the Company's stock on April 21, 2009), and 5,000 shares of restricted stock under the Company's existing 2003 Incentive Plan. Each of the shares of restricted stock and the options vest ratably over a five year period.

The Company has not entered into any material contracts or arrangements, compensatory or otherwise, with Mr. Koranda with respect to his appointment as a director of the Company and the Bank, except as described above. There are no related party transactions between the Company and Mr. Koranda that would be required to be disclosed pursuant to Item 404(a) of Regulation S-K. A copy of the Company's press release announcing Mr. Koranda's appointment is attached as Exhibit 99.1, which is incorporated herein by reference.