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PKBK > SEC Filings for PKBK > Form 8-K on 17-Jun-2013All Recent SEC Filings

Show all filings for PARKE BANCORP, INC.



Other Events

Item 8.01. Other Events

On June 12, 2013, Parke Bancorp, Inc. (the "Registrant") completed the repurchase of the warrant to purchase shares of its common stock that it had issued to the United States Department of the Treasury (the "Treasury") in connection with the TARP Capital Purchase Plan (the "Warrant"). The Warrant, adjusted for stock dividends issued since the date of its initial issuance to the Treasury, represented to the right to purchase 438,906.44 shares of common stock at a per share exercise price of $5.556 (adjusted for stock dividends issued since the date of its initial issuance to the Treasury). The Registrant repurchased the Warrant in the auction conducted by Treasury to sell the Warrant along with warrants of 16 other financial institutions. The Registrant repurchased the Warrant at a per share price of $3.76 or $1,650,288 in the aggregate.

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