Edward Infantolino
About Edward Infantolino
Dr. Edward Infantolino, age 77 as of December 31, 2024, has served on Parke Bancorp’s Board since 2007 (initial founder of Parke Bank) and is classified as an independent director under Nasdaq rules. He is a retired internal medicine physician, former President of Ocean Internal Medicine Associates, and currently President of the Atlantic Investment Club; he is also owner and Principal Broker of Key Land Development Company LLC, with realtor memberships in both Florida and New Jersey as disclosed in 2025. His background spans medicine, investing, and real estate, with prior banking experience as a founder and director of Premium Federal Savings Bank until its sale, which the Board cites as an asset to Parke’s governance.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ocean Internal Medicine Associates, P.A. | President (retired from practice in Atlantic City and Somers Point, NJ) | Practiced since 1977 | Medical and business leadership cited by Board as beneficial |
| Premium Federal Savings Bank (NJ) | Founder and Director | Until bank was sold | Early banking experience; foundation for Parke Bank founding |
External Roles
| Organization | Role | Tenure/Status | Notes |
|---|---|---|---|
| Atlantic Investment Club | President | Current | Invests in stocks and bonds for participants |
| Key Land Development Company LLC (Celebration, FL) | Owner & Principal Broker | Current | Real estate operations; member of National Association of Realtors and Orlando Regional Realtors Association |
| NJ Real Estate Licensing / Associations | Licensed to sell real estate in NJ; member of Atlantic City & County Board of Realtors and NJ Association of Realtors | Current (2025 proxy) | Realtor memberships; 2024 proxy noted prior request to referral status |
Board Governance
- Committee assignments: Nominating Committee member (Choate, Dalton, Dobson, Infantolino); met 1 time in 2024. Not a member of Audit or Compensation Committees (Audit and Compensation comprised of Choate, Dalton, Dobson, Sheppard).
- Independence: Board determined all non-employee directors are independent (2025); in 2024, all non-employee directors except Milavsky were independent—Infantolino is independent.
- Attendance and engagement: Board met 13 times in 2024; no director attended fewer than 75% of Board and committee meetings; Board met 12 times in 2023 with no director below 75% attendance.
- Board leadership: Chairman Daniel J. Dalton; Vice Chairman Arret F. Dobson.
- Hedging/pledging policy: Company has not adopted an anti-hedging/anti-pledging policy; hedging transactions by directors are not prohibited.
Fixed Compensation
| Component (Edward Infantolino) | 2023 | 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | $99,154 | $105,110 |
| Equity Grants (current year) | None (director comp cash-only) | None (director comp cash-only) |
| Options Held (count, year-end) | 47,196 | 47,196 |
Board fee schedule by role (applies to all non-employee directors):
| Role | 2023 Board Fee | 2024 Board Fee | 2023 Retainer | 2024 Retainer | 2023 Bonus | 2024 Bonus |
|---|---|---|---|---|---|---|
| Chairman | $8,500 | $9,000 | $77,000 | $77,000 | $30,100 | $45,750 |
| Audit Committee Chair | N/A | N/A | $38,000 | $38,000 | N/A | $30,450 |
| Vice Chairman | $3,000 | $3,000 | $25,000 | $25,000 | $29,000 | $31,600 |
| Other Non-Employee Director | $3,000 | $3,000 | $17,000 | $17,000 | $25,000 | $26,250 |
Note: Directors’ fees are paid by Parke Bank; there are no additional fees paid by Parke Bancorp, Inc.
Performance Compensation
| Metric/Structure | 2023 | 2024 |
|---|---|---|
| Performance-based equity (RSUs/PSUs) | None disclosed for directors (cash-only compensation) | None disclosed for directors (cash-only compensation) |
| Option awards to directors (current year grants) | None disclosed | None disclosed |
| Explicit performance metrics tied to director pay (TSR, revenue, ESG) | Not disclosed/applicable for directors | Not disclosed/applicable for directors |
Other Directorships & Interlocks
| Company/Organization | Type | Role | Current/Past |
|---|---|---|---|
| Premium Federal Savings Bank (NJ) | Financial institution | Founder & Director | Past (until sold) |
| Other public company boards (last 5 years) | Public | — | None disclosed in biography |
Expertise & Qualifications
- Founder of Parke Bank; prior founder/director of another depository (Premium Federal Savings Bank), contributing banking and real estate transaction expertise to the Board.
- Real estate brokerage and development experience through Key Land Development; memberships in realtor associations in FL and NJ; President of investing club (Atlantic Investment Club).
- The Board cites his business, banking, and real estate background as an asset for oversight.
Equity Ownership
| Metric | As of Record Date 2024 | As of Record Date 2025 |
|---|---|---|
| Common shares beneficially owned | 230,689 | 237,052 |
| Ownership as % of shares outstanding | 1.87% | 1.95% |
| Options exercisable within 60 days | 38,696 | 44,196 |
| Total director options held (year-end count) | 47,196 | 47,196 |
Pledging: Footnotes disclose pledged shares for another director (Dobson: 50,000) but do not attribute any pledged shares to Infantolino in 2025 beneficial ownership footnotes.
Governance Assessment
- Independence and attendance: Infantolino is an independent, non-employee director; Board met 13 times in 2024 and 12 in 2023, with no director below 75% attendance—indicative of engagement.
- Committee role: Active on the Nominating Committee, which met once in 2024; not on Audit or Compensation—limits direct oversight of financial reporting and pay decisions.
- Ownership alignment: Material personal stake (~1.95% in 2025) plus substantial outstanding options may align interests; director compensation mix is cash-only with no fresh equity grants to directors in 2023–2024.
- Related-party exposure: The bank reports related-party loans to officers/directors and affiliates ($1.1M in 2023; $0.5M in 2024) without naming individuals; no specific disclosure for Infantolino. Monitor for potential conflicts given his real estate activities.
- RED FLAGS
- The Company does not prohibit hedging/pledging by directors and officers—an investor-alignment risk if used.
- Family ties in management (e.g., CEO’s son and cousin in senior roles) indicate broader governance complexity; while not specific to Infantolino, it affects overall board independence dynamics.
Overall: Infantolino brings founding knowledge and real estate/banking experience with solid attendance and independence, but lack of anti-hedging policy and the presence of related-party lending at the bank warrant continued monitoring for conflicts and investor-alignment risks.