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. reports recurring developments as the bank holding company for Parke Bank, a full-service commercial bank serving individuals and small businesses primarily in southern New Jersey and the Philadelphia area. Company news centers on quarterly earnings, loan and deposit trends, net interest income and margin, interest expense, provision for credit losses, and the mix of deposits and borrowings.
Updates also cover cash dividend declarations and changes to the dividend rate, with Board determinations tied to the financial condition of the company and the bank and applicable banking restrictions. Parke Bank operates through branches in New Jersey and Philadelphia, and its deposits are insured by the FDIC up to legal limits.
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.
Parke Bancorp, Inc. (NASDAQ: PKBK) has declared a $0.16 per share cash dividend, payable on May 18, 2021, to stockholders of record by May 4, 2021. The Board anticipates quarterly dividends, contingent on the company’s financial health and regulatory restrictions. Parke Bancorp, incorporated in January 2005, operates Parke Bank, which has multiple branches in New Jersey and Philadelphia. Deposits are FDIC insured. The company emphasizes providing financial services to small businesses and individuals in its operating regions.
Parke Bancorp (NASDAQ: PKBK) reported a strong Q1 2021 with a net income of $9.4 million, reflecting a 30.8% increase from Q1 2020. Revenue reached $22.8 million. Total assets grew 1.2% to $2.10 billion, while total deposits increased 8.7% to $1.73 billion. However, total loans decreased 1.1% to $1.55 billion. The lower provision for loan losses at $500,000 was noted, and nonperforming loans fell to 0.46% of total loans. The company anticipates challenges in loan growth amid ongoing economic uncertainty.
Parke Bancorp reported Q4 2020 net income of $8.1 million, or $0.69 per share, a 7.8% increase from Q4 2019. Revenue for the quarter stood at $23.2 million, with total assets rising 23.5% to $2.08 billion year-over-year. Loans reached $1.57 billion, marking a 10.2% increase, while deposits grew 18.9% to $1.59 billion. Despite challenges from COVID-19, the bank maintained a robust capital position and anticipates slow loan growth ahead.
Parke Bancorp, Inc. (NASDAQ: PKBK) announced a cash dividend of $0.16 per share, payable on February 16, 2021, to stockholders of record by the close of business on February 1, 2021. The company aims to maintain quarterly dividends, contingent on its financial health and regulatory constraints. Founded in 2005, Parke Bancorp operates Parke Bank, primarily serving New Jersey and Philadelphia. The Board emphasized that future dividends could be reduced or eliminated based on various economic factors.
Parke Bancorp (NASDAQ: PKBK) reported Q3 2020 net income of $6.5 million, or $0.55 per share, down 15.7% from Q3 2019. Revenue for the quarter stood at $21.6 million, with net interest income increasing 6.5% to $15.4 million. Total assets rose 23.5% year-to-date to $2.08 billion, while total loans grew by 10.8% to $1.57 billion. The provision for loan losses increased to $2.4 million amid economic uncertainty related to COVID-19. Deposits increased 19.2% to $1.60 billion, reflecting strong demand despite the ongoing pandemic challenges.