PARKE BANCORP, INC. ANNOUNCES CASH DIVIDEND

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.

Positive

• Maintaining regular quarterly dividend payments of $0.18 per share
• Strong geographical presence with 7 branch locations across New Jersey and Philadelphia
• FDIC insurance coverage for deposits

Negative

• Potential for future dividend reduction or elimination based on financial conditions
• Subject to regulatory restrictions that may limit operational flexibility

News Market Reaction – PKBK

+1.29%

1 alert

+1.29% News Effect

On the day this news was published, PKBK gained 1.29%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

WASHINGTON TOWNSHIP, N.J., March 19, 2025 /PRNewswire/ -- Parke Bancorp, Inc. (the "Company") (NASDAQ: PKBK) today announced the declaration of a $0.18 per share cash dividend, payable on April 18, 2025, to its stockholders of record as of the close of business on April 4, 2025.

The Board anticipates paying cash dividends on a quarterly basis, subject to determination and declaration by the Board of Directors, which will take into account a number of factors, including the financial condition of the Company and the Bank, and any applicable legal and regulatory restrictions on the payment of dividends by the Company.  If paid, such dividends may be reduced or eliminated in future periods.

Parke Bancorp, Inc. was incorporated in January 2005, while Parke Bank commenced operations in January 1999. Parke Bancorp and Parke Bank maintain their principal offices at 601 Delsea Drive, Washington Township, New Jersey. Parke Bank conducts business through a branch office in Northfield, New Jersey, two branch offices in Washington Township, New Jersey, a branch office in Galloway Township, New Jersey, a branch office in Collingswood, New Jersey, a branch in center city Philadelphia and a branch in Chinatown in Philadelphia. Parke Bank is a full service commercial bank, with an emphasis on providing personal and business financial services to individuals and small-sized businesses primarily in Gloucester, Atlantic and Cape May counties in New Jersey and Philadelphia and surrounding counties in Pennsylvania. Parke Bank's deposits are insured up to the maximum legal amount by the Federal Deposit Insurance Corporation (FDIC). Parke Bancorp's common stock is traded on the NASDAQ Capital Market under the symbol "PKBK".

This release may contain forward-looking statements. Such forward-looking statements are subject to risks and uncertainties which may cause actual results to differ materially from those currently anticipated due to a number of factors; our ability to maintain a strong capital base; our ability to continue to pay a dividend in the future; our ability to enhance shareholder value in the future; our earnings and shareholders' equity; and the possibility of additional corrective actions or limitations on the operations of Parke Bancorp and Parke Bank being imposed by banking regulators, therefore, readers should not place undue reliance on any forward-looking statements. Parke Bancorp, Inc. does not undertake, and specifically disclaims, any obligations to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such circumstance.

View original content:https://www.prnewswire.com/news-releases/parke-bancorp-inc-announces-cash-dividend-302404815.html

SOURCE Parke Bancorp, Inc.

FAQ

What is the amount and payment date of Parke Bancorp's (PKBK) latest dividend?

Parke Bancorp declared a $0.18 per share dividend, payable on April 18, 2025, to stockholders of record as of April 4, 2025.

How many branch locations does Parke Bank (PKBK) currently operate?

Parke Bank operates 7 branches: one in Northfield, two in Washington Township, one in Galloway Township, one in Collingswood, and two in Philadelphia (center city and Chinatown).

What are the primary service areas for Parke Bank (PKBK)?

Parke Bank primarily serves Gloucester, Atlantic and Cape May counties in New Jersey, and Philadelphia and surrounding counties in Pennsylvania.

What factors could affect PKBK's future dividend payments?

Future dividends depend on the company's and bank's financial condition, applicable legal and regulatory restrictions, and Board of Directors' determination, and may be reduced or eliminated.