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PKBK-News
PKBK-Events
Parke Bank Total Assets Increase to $2.33B
Reports total assets increased to $2.33B at September 30, from $2.25B at December 31, 2025, an increase of $83.2M, or 3.7%, primarily due to an increase in cash and cash equivalents, an increase in net loan receivable. Vito S. Pantilione, President and CEO, provided the following statement: "Parke Bank continued its strong financial performance during the first nine months of 2026, delivering record earnings and maintaining excellent operating efficiency despite a challenging and evolving economic environment. For the nine months ended September 30, 2026, net income increased 35.9% to $36.2M, compared to the same period in 2025. Earnings per common share were $3.09 basic and $3.04 diluted. This performance was driven by continued loan growth, disciplined balance sheet management, and an expanding net interest margin."
Parke Bank Total Assets Increase to $2.33B
Reports total assets increased to $2.33B at September 30, from $2.25B at December 31, 2025, an increase of $83.2M, or 3.7%, primarily due to an increase in cash and cash equivalents, an increase in net loan receivable. Vito S. Pantilione, President and CEO, provided the following statement: "Parke Bank continued its strong financial performance during the first nine months of 2026, delivering record earnings and maintaining excellent operating efficiency despite a challenging and evolving economic environment. For the nine months ended September 30, 2026, net income increased 35.9% to $36.2M, compared to the same period in 2025. Earnings per common share were $3.09 basic and $3.04 diluted. This performance was driven by continued loan growth, disciplined balance sheet management, and an expanding net interest margin."
Parke Bancorp Approves Stock Repurchase of Up to 5%
Parke Bancorp announced its Board of Directors approved a stock repurchase program to allow repurchases of up to 5% of the company's common stock during the next twelve months, unless completed sooner or otherwise extended.
Parke Bancorp Announces Second Quarter Cash Dividend Increase to 20 Cents
Parke Bancorp announced that its Board of Directors has approved a 2c increase in the cash dividend to be declared for the second fiscal quarter of 2026. As a result of this increase, the second quarter dividend will be 20c per share.
Parke Bancorp Net Interest Income Rises 33.3% to $22.1M
Net interest income increased $5.5M, or 33.3%, to $22.1M for the three months ended March 31, 2026, compared to $16.6M for the same period in 2025. Vito Pantilione, President and CEO of Parke Bancorp provided the following statement: "2026 has started off with many of the challenges in 2025 continuing, and in some instances worsening. The immigration crisis, no clear direction of interest rates, inflation remaining a serious concern, the Russia - Ukraine war continuing, and the Iran conflict that started in February, are all challenges making it difficult to identify the market's direction. The market seemed to be checking the boxes for a couple of rate cuts, however, Iran blocking the Strait of Hormuz, combined with the interruption of oil production has triggered sharp increases in oil and gas prices, reigniting inflation. It is important for banks, including Parke Bank, to remain nimble and responsive to address possible challenges and evolving opportunities."
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