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PKBK News
PKBK Events
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."
Parke Bancorp reports Q EPS 69c vs. 53c last year
Reports Q2 provision for credit losses $1.0M vs. $500,000 last year. Vito S. Pantilione, President and CEO of Parke Bancorp, and Parke Bank, said: "Market volatility continues in 2025 as President Trump's tariffs are negotiated, combined with the geopolitical unrest. Many of the tariff implementations were extended, some settled, and some added. Contributing to the market volatility is the disagreement between the Federal Reserve Board and the Administration with respect to reducing short term interest rates. President Trump believes that inflation and job data support lowering interest rates immediately. Federal Reserve Chairman Powell, however, has taken a wait-and-see approach to see if the tariffs will cause a spike in the inflation rate. The tariffs have also affected the real estate construction industry, due to the possible increase in material prices, and in some instances, the availability of some building materials. The Russia-Ukraine war also puts a cloud over the market, with the continuing bombing causing civilian deaths and destruction. At this time, however, it does not appear that the bombing of nuclear production sites in Iran has disrupted the global oil supply."
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