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. (NASDAQ: PKBK), the bank holding company for Parke Bank, regularly issues news updates covering its community banking operations, financial performance and capital actions. As a full service commercial bank with a focus on individuals and small-sized businesses in parts of New Jersey and Pennsylvania, its news flow is closely tied to lending activity, deposit trends and regional economic conditions.
Investors and observers following PKBK news will see recurring earnings releases for quarterly and annual periods. These announcements detail net income available to common shareholders, net interest income, non-interest income, non-interest expense, provisions for credit losses, and key balance sheet items such as total assets, loans, deposits, borrowings and equity. The releases also discuss changes in loan portfolio segments, including construction, commercial non-owner occupied, commercial owner occupied, multi-family and residential 1 to 4 family investment loans, as well as asset quality metrics like nonperforming loans, other real estate owned (OREO) and allowance for credit losses.
Parke Bancorp’s news also includes Board decisions on cash dividends, with multiple press releases announcing $0.18 per share dividends and noting the Board’s anticipation of quarterly dividend payments subject to financial condition and regulatory considerations. In addition, the company has announced a stock repurchase program for up to 5% of its outstanding common stock and later an extension of that program, which are reported through press releases and related Form 8-K filings.
Management commentary in these news items often addresses the interest rate environment, market volatility, loan demand and regulatory developments affecting community banks. Readers who want a detailed view of PKBK’s ongoing performance, capital management and risk profile can use this news page to review the company’s official announcements and earnings discussions over time.
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Parke Bancorp, Inc. (PKBK) reported its Q1 2023 financial results with net income of
However, total assets decreased by 1% to
Parke Bancorp, Inc. (NASDAQ: PKBK) announced a $0.18 cash dividend per share, payable on April 24, 2023, to stockholders of record by the close of business on April 10, 2023. This dividend represents the company’s ongoing commitment to return value to shareholders and reflects the financial condition of the company. The Board plans to review dividend payments quarterly, considering financial stability and regulatory factors. However, future dividends may face reductions or eliminations depending on these assessments.
Parke Bancorp (PKBK) reported Q4 2022 net income of $10.4 million, or $0.88 per basic share, reflecting a 3.8% year-over-year increase. Q4 revenue reached $26.8 million, driven by a 13.0% rise in net interest income to $18.9 million. Despite this, total assets decreased by 7.1% year-over-year to $1.98 billion, with total loans increasing 18.0% to $1.75 billion. Total deposits fell 10.9% to $1.58 billion. A notable concern includes the possible theft of $9.5 million in cash related to cannabis customers, currently under investigation. The outlook remains cautious due to inflation and rising interest rates.
Parke Bancorp, Inc. (NASDAQ: PKBK) announced a cash dividend of $0.18 per share, payable on January 18, 2023, to shareholders on record as of January 4, 2023. The Board plans to consider quarterly dividend payments based on the company’s financial condition and regulatory factors, suggesting potential volatility in future dividends. Established in 2005, Parke Bancorp operates primarily in New Jersey and Pennsylvania, offering financial services through several branches. The company’s deposits are insured by the FDIC.
Parke Bancorp, Inc. (PKBK) reported Q3 2022 net income of $10.5 million or $0.88 per share, a slight increase of 0.4% year-over-year. Revenue reached $24.4 million, driven by a 10.4% rise in net interest income to $19.3 million. Total loans rose 13.1% to $1.68 billion, while total assets fell 10.0% to $1.92 billion. A provision for loan losses of $600,000 was recorded, and non-interest income decreased 7.6% to $2 million. CEO Vito S. Pantilione highlighted the impact of rising interest rates and potential recession risks.
Parke Bancorp, Inc. (NASDAQ: PKBK) declared a $0.18 per share cash dividend, reflecting a $0.02 increase from the prior dividend. This dividend is payable on September 23, 2022, to stockholders of record by the close of business on September 9, 2022. The Board intends to continue paying cash dividends quarterly, contingent on various factors, including the company's financial condition and regulatory constraints. There is a possibility that dividends may be reduced or eliminated in future periods.