STOCK TITAN

Parke Bancorp Inc - PKBK STOCK NEWS

Welcome to our dedicated page for Parke Bancorp news (Ticker: PKBK), a resource for investors and traders seeking the latest updates and insights on Parke Bancorp stock.

Parke Bancorp Inc (PKBK), the holding company for Parke Bank, provides essential financial gateway for businesses and individuals through retail banking services and commercial lending solutions. This news hub offers investors and stakeholders timely updates about the institution's strategic developments in community banking.

Access curated press releases and articles covering earnings announcements, regulatory filings, leadership updates, and product innovations. Our repository simplifies tracking of operational milestones including loan portfolio expansions, risk management practices, and digital banking enhancements.

Discover categorized updates on commercial real estate financing trends, deposit product developments, and the bank's community engagement initiatives across New Jersey and Philadelphia markets. Bookmark this page for streamlined monitoring of PKBK's financial health and market positioning within the competitive banking sector.

Rhea-AI Summary

Parke Bancorp (NASDAQ: PKBK) reported strong Q1 2025 financial results with net income of $7.8 million, representing a 26.5% increase from Q1 2024 and 5.12% increase from Q4 2024. Earnings per share reached $0.66 basic and $0.65 diluted.

Key financial metrics include:

  • Revenue increased 0.6% to $34.7 million
  • Net interest income grew 18.2% to $16.6 million
  • Total assets remained stable at $2.14 billion
  • Total loans increased 0.8% to $1.88 billion
  • Deposits grew 2.2% to $1.67 billion

The bank's efficiency ratio improved to 37.1% from 43.2% in Q1 2024. Asset quality remained strong with nonperforming loans decreasing to $11.1 million, representing 0.59% of total loans. The allowance for credit losses ratio stood at 1.76%.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.77%
Tags
-
Rhea-AI Summary

Parke Bancorp (NASDAQ: PKBK) has declared a quarterly cash dividend of $0.18 per share, payable on April 18, 2025, to stockholders of record as of April 4, 2025. The Board plans to continue quarterly dividends, subject to various factors including the company's and bank's financial condition and regulatory restrictions.

Parke Bank operates through multiple branches across New Jersey, including Northfield, Washington Township, Galloway Township, and Collingswood, as well as two Philadelphia locations. The bank specializes in providing personal and business financial services to small-sized businesses, primarily serving Gloucester, Atlantic and Cape May counties in New Jersey and Philadelphia area in Pennsylvania.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.29%
Tags
dividends
-
Rhea-AI Summary

Parke Bancorp (NASDAQ: PKBK) reported Q4 2024 financial results with net income of $7.4 million ($0.62 per basic share), down 9.5% from $8.2 million in Q4 2023. For the full year 2024, net income was $27.5 million ($2.30 per basic share), a 3.3% decrease from 2023.

Key metrics for Q4 2024: Revenue increased 4.4% to $34.5 million, total assets grew 5.9% to $2.14 billion, total loans rose 4.5% to $1.87 billion, and deposits increased 5.0% to $1.63 billion. Net interest income slightly increased by 0.7% to $15.6 million.

Notable challenges included higher provision for credit losses ($0.2 million vs -$0.4 million recovery in Q4 2023), decreased non-interest income (-23.1% to $1.1 million), and increased non-interest expenses (+9.0% to $6.9 million). Nonperforming loans increased to $11.8 million, representing 0.63% of total loans.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.6%
Tags
Rhea-AI Summary

Parke Bancorp (NASDAQ: PKBK) has declared a quarterly cash dividend of $0.18 per share, payable on January 17, 2025, to stockholders of record as of January 3, 2025. The Board plans to continue quarterly dividend payments, subject to various factors including the company's and bank's financial condition and regulatory restrictions.

The company operates through multiple branch offices across New Jersey and Philadelphia, focusing on personal and business financial services for individuals and small businesses in Gloucester, Atlantic, Cape May counties in New Jersey, and Philadelphia area. All deposits are FDIC-insured.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.74%
Tags
dividends
-
Rhea-AI Summary

Parke Bancorp reported Q3 2024 earnings with net income of $7.5 million, up 16.3% from Q2 2024. Revenue increased 5.2% to $33.0 million. Total assets grew 2.1% to $2.07 billion, while total loans increased 2.9% to $1.84 billion. Deposits rose 0.4% to $1.56 billion.

The company saw a 634.1% increase in net income compared to Q3 2023, primarily due to a non-recurring $9.5 million contingent loss in the previous year. However, net interest income decreased by $1.0 million, and non-interest income fell by $0.9 million. The allowance for credit losses stood at $32.3 million, with the ratio to total loans at 1.76%.

CEO Vito S. Pantilione noted increased loan activity, stable residential construction projects, and exploration of new markets. He emphasized the focus on asset quality and non-interest expense management amid economic uncertainties and geopolitical tensions.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.65%
Tags
-
Rhea-AI Summary

Parke Bancorp (NASDAQ: PKBK) has declared a $0.18 per share cash dividend, payable on October 18, 2024, to stockholders of record as of October 4, 2024. The Board anticipates paying dividends quarterly, subject to various factors and potential legal restrictions. Parke Bank, established in 1999, operates through six branch offices in New Jersey and two in Philadelphia. It focuses on providing financial services to individuals and small businesses in Gloucester, Atlantic, Cape May, and Philadelphia counties. Parke Bancorp's deposits are FDIC-insured, and its stock trades on the NASDAQ Capital Market under the symbol 'PKBK'.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.12%
Tags
dividends
Rhea-AI Summary

Parke Bancorp (NASDAQ: PKBK) has announced a stock repurchase plan approved by its Board of Directors. The plan allows for the repurchase of up to 5% of the company's common stock over the next 12 months, unless completed sooner or extended. Open market purchases will be conducted in accordance with Rule 10b-18 of the Securities Exchange Act of 1934, subject to SEC regulations and specific constraints.

President and CEO Vito S. Pantilione stated that the repurchase program is an integral part of the company's capital management strategy, emphasizing that at current prices, the stock is considered an attractive investment for the company. The repurchase is expected to enhance shareholder value.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.83%
Tags
buybacks
-
Rhea-AI Summary

Parke Bancorp (NASDAQ: PKBK) reported its Q2 2024 earnings with net income of $6.5 million, a 5.0% increase from Q1 2024 but a 20.6% decrease year-over-year. Revenue rose 8.8% to $31.4 million compared to Q1 2024. Total assets increased slightly to $2.03 billion, while total loans grew 1.0% to $1.81 billion. However, total deposits decreased by 3.6% to $1.50 billion.

The company faced challenges due to higher interest expenses and lower non-interest income. Net interest income decreased by 9.8% year-over-year to $14.3 million for Q2 2024. The provision for credit losses remained stable at $0.5 million. Despite these challenges, Parke Bancorp maintained a strong allowance for credit losses at 1.8% of total loans.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.3%
Tags
-
Rhea-AI Summary

Parke Bancorp, trading under NASDAQ: PKBK, has declared a $0.18 per share cash dividend, payable on July 19, 2024, to stockholders of record as of July 5, 2024.

The Board plans to issue dividends quarterly, contingent on the company's financial health and regulatory conditions, but may reduce or eliminate future dividends if necessary.

Parke Bancorp, established in 2005, operates through multiple branches in New Jersey and Philadelphia, focusing on personal and business financial services.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.24%
Tags
dividends
Rhea-AI Summary
Parke Bancorp, Inc. announced its first quarter 2024 earnings with a net income of $6.1 million, revenue of $30.5 million, and total assets of $2.01 billion. Despite a decrease in net income compared to the previous year, the company remains optimistic about future growth opportunities.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.15%
Tags
Parke Bancorp Inc

Nasdaq:PKBK

PKBK Rankings

PKBK Stock Data

207.72M
9.80M
19.81%
49.86%
0.3%
Banks - Regional
State Commercial Banks
Link
United States
WASHINGTON TOWNSHIP