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.
Parke Bancorp (PKBK) reported Q2 2022 net income of $10.7 million, a slight decrease from $10.8 million in Q2 2021. The revenue for the quarter was $23.0 million. Total assets fell by 6.8% to $1.99 billion, driven by a 9.2% drop in total deposits to $1.61 billion. Total loans increased by 4.3% to $1.55 billion. Despite lower net interest income, non-interest income rose by 20.1%. The CEO noted economic challenges ahead, including inflation and potential recession, but expressed confidence in the bank's financial position to navigate these difficulties.
Parke Bancorp, Inc. (NASDAQ: PKBK) has declared a cash dividend of $0.16 per share, payable on July 19, 2022. Stockholders of record as of July 5, 2022, will receive the dividend. The Board plans to pay dividends quarterly, contingent on financial conditions and regulatory restrictions. Future dividends may be adjusted or suspended. Parke Bancorp emphasizes strong capital maintenance and shareholder value enhancement as they navigate potential regulatory challenges.
Parke Bancorp (NASDAQ: PKBK) reported a net income of $10.1 million for Q1 2022, up 7.0% from $9.4 million in Q1 2021. Revenue reached $21.7 million, with net interest income rising 1.7% to $17.1 million. Total assets decreased by 3.9% to $2.05 billion, while total loans increased 0.7% to $1.50 billion. Total deposits fell by 5.2% to $1.68 billion. The CEO highlighted challenges from expected interest rate hikes and lingering COVID-19 impacts, but expressed confidence in the company's position.
Parke Bancorp, Inc. (NASDAQ: PKBK) announced a cash dividend of $0.16 per share, payable on April 20, 2022, to stockholders of record by April 6, 2022. The Board intends to pay dividends quarterly, depending on the Company's financial condition and regulatory restrictions, with the possibility of future reductions or eliminations. Founded in 2005, Parke Bancorp operates through multiple branches in New Jersey and Pennsylvania, emphasizing personal and business financial services, backed by FDIC insurance.
Parke Bancorp, Inc. (PKBK) reported a net income of $10.1 million for Q4 2021, reflecting a 23.9% increase year-over-year. Total revenue reached $21.8 million, with a notable rise in total deposits to $1.77 billion, up 11.1% from 2020. However, total loans decreased 5.2% to $1.48 billion. For the year, net income rose 43.4% to $40.7 million, driven by improved net interest income and reduced loan loss provisions. Despite challenges like inflation and labor shortages, the company expressed optimism about lending opportunities in 2022.
Parke Bancorp, Inc. (NASDAQ: PKBK) announced a cash dividend of $0.16 per share, payable on January 19, 2022, to stockholders of record as of January 5, 2022. The Board plans to pay dividends quarterly, contingent upon financial assessment and compliance with legal and regulatory standards. Future dividends may be adjusted or suspended based on the Company's financial condition. Parke Bancorp and its bank offer personal and business financial services primarily in New Jersey and Pennsylvania, with deposits insured by the FDIC.
Parke Bancorp (PKBK) reported solid Q3 2021 results, boasting a net income of $10.5 million or $0.88 per share, marking a 60.6% increase from Q3 2020. Total revenue reached $22.8 million, driven by a 13.2% rise in net interest income to $17.5 million. Total assets increased 3.7% to $2.16 billion, while total deposits surged 11.9% to $1.78 billion. However, total loans decreased 5.9% to $1.47 billion, influenced by pandemic-related economic uncertainty. Despite challenges, the company maintained a strong capital position and earnings.
Parke Bancorp, Inc. (NASDAQ: PKBK) has announced a cash dividend of $0.16 per share, payable on October 20, 2021. This dividend will be distributed to stockholders recorded by October 6, 2021. The Board plans to pay quarterly dividends, subject to financial conditions and regulatory restrictions. Although dividends are anticipated, there is a possibility they may be reduced or eliminated in future periods. Parke Bancorp operates multiple banking branches in New Jersey and Philadelphia, with insured deposits by the FDIC.
Parke Bancorp, Inc. (PKBK) reported a net income of $10.8 million for Q2 2021, a 64.5% increase from Q2 2020. Revenue reached $23.5 million, driven by a 21.4% rise in net interest income to $18.1 million. Total assets increased 1.1% to $2.10 billion, while deposits grew 8.3% to $1.72 billion. However, loans declined 3.0% to $1.52 billion. The company highlighted increasing costs associated with BSA compliance amidst ongoing economic uncertainty.
Parke Bancorp, Inc. (NASDAQ: PKBK) announced a cash dividend of $0.16 per share, scheduled for payment on July 20, 2021, to stockholders of record by July 6, 2021. The Board intends to issue dividends quarterly, contingent on financial conditions and regulatory compliance. This release highlights the stability of the bank, with deposits insured by the FDIC, and notes the importance of maintaining capital to ensure future dividend payments. Investors should consider potential risks regarding the sustainability of these dividends.