Parke Bancorp Inc
NASDAQ:PKBK

  • LAST PRICE
    21.4100
  • TODAY'S CHANGE (%)
    0.0000 (0.0000%)
  • Bid / Lots
    8.5700/ 2
  • Ask / Lots
    34.0400/ 1
  • Open / Previous Close
    --- / 21.4100
  • Day Range
    ---
  • 52 Week Range
    15.2400
    22.0000
  • Volume
    ---

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  • Oct 18, 2024

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    • 4:31PM ET on Friday Oct 18, 2024 by MT Newswires
      Companies Mentioned: PKBK
      04:31 PM EDT, 10/18/2024 (MT Newswires) -- Parke Bancorp (PKBK) reported Q3 earnings late Friday of $0.62 per diluted share, up from $0.08 a year earlier. Revenue, expressed as the sum of net interest income and noninterest income, for the quarter e...

    • 4:18PM ET on Friday Oct 18, 2024 by MT Newswires
      Companies Mentioned: PKBK
      04:18 PM EDT, 10/18/2024 (MT Newswires) -- ...

    • 4:15PM ET on Friday Oct 18, 2024 by PR Newswire
      Companies Mentioned: PKBK

      Parke Bancorp, Inc. ("Parke Bancorp" or the "Company") (NASDAQ: "PKBK"), the parent company of Parke Bank, announced its operating results for the three and nine months ended September30, 2024.

      Highlights for the three and nine months ended September30, 2024:

    • 4:15PM ET on Friday Oct 18, 2024 by Dow Jones
      Companies Mentioned: PKBK
      income 901 1,835 3,163 5,213 ------------------ --------------- --------------- --------------- Non-interest expense Compensation and benefits 3,178 2,834 9,466 9,414 Professional services 645 659 1,641 1,746 Occupancy and equipment 630 649 1,943 1,938 Data processing 348 368 978 1,037 FDIC insurance and other assessments 319 388 973 960 OREO expense 187 240 776 610 Other operating expense 1,058 10,711 3,358 13,276 ------------------ --------------- --------------- --------------- Total non-interest expense 6,365 15,849 19,135 28,981 ------------------ --------------- --------------- --------------- Income before income tax expense 9,400 1,369 26,571 26,531 Income tax expense 1,892 340 6,457 6,242 ------------------ --------------- --------------- --------------- Net income attributable to Company 7,508 1,029 20,114 20,289 Less: Preferred stock dividend (5) (7) (16) (20) ------------------ --------------- --------------- --------------- Net income available to common shareholders $ 7,503 $ 1,022 $ 20,098 $ 20,269 ================== =============== =============== =============== Earnings per common share Basic $ 0.63 $ 0.09 $ 1.68 $ 1.70 ================== =============== =============== =============== Diluted $ 0.62 $ 0.08 $ 1.66 $ 1.67 ================== =============== =============== =============== Weighted average common shares outstanding Basic 11,959,546 11,945,844 11,960,173 11,945,144 Diluted 12,153,393 12,131,825 12,134,828 12,137,208 Table 3: Operating Ratios (unaudited) Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 --------- --------- --------- -------- Return on average assets 1.49 % 0.21 % 1.37 % 1.38 % Return on average common equity 10.08 % 1.43 % 9.20 % 9.77 % Interest rate spread 1.88 % 2.24 % 1.91 % 2.51 % Net interest margin 2.97 % 3.21 % 2.99 % 3.40 % Efficiency ratio* 40.74 % 90.47 % 41.37 % 53.76 % * Efficiency ratio is calculated using non-interest expense divided by the sum of net interest income and non-interest income. Table 4: Asset Quality Data (unaudited) September 30, December 31, 2024 2023 ------------------------ ------------------------ (Amounts in thousands except ratio data) Allowance for credit losses on loans $ 32,318 $ 32,131 Allowance for credit losses to total loans 1.76 % 1.80 % Allowance for credit losses to non-accrual loans 264.88 % 442.51 % Non-accrual loans $ 12,201 $ 7,261 OREO $ 1,562 $ 1,550

    • 4:15PM ET on Friday Oct 18, 2024 by Dow Jones
      Companies Mentioned: PKBK

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