Parke Bancorp ( (PKBK) ) has released its Q2 earnings. Here is a breakdown of the information Parke Bancorp presented to its investors.
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Parke Bancorp, Inc. is a financial institution based in Washington Township, New Jersey, primarily engaged in providing banking services through its subsidiary, Parke Bank, with a focus on commercial and retail banking.
In its latest earnings report for the second quarter of 2025, Parke Bancorp announced a net income of $8.3 million, marking a 28.3% increase compared to the same period in 2024. The company also reported revenue of $35.8 million, reflecting a 3.4% increase over the previous quarter.
Key financial highlights include a significant rise in net interest income, which increased by 24.9% to $17.9 million for the quarter, driven by higher market interest rates and increased loan portfolio balances. However, non-interest income saw a decline of 32%, attributed to reduced legal settlements and insurance proceeds. The company’s total assets grew to $2.17 billion, with total loans and deposits also experiencing notable growth.
Despite the positive financial performance, Parke Bancorp faced challenges such as an increase in the provision for credit losses and a rise in loans past due by 30 to 89 days. Nonetheless, the company’s asset quality remained a focus, with a decrease in non-performing loans and a stable allowance for credit losses.
Looking ahead, Parke Bancorp’s management remains optimistic about navigating market volatility, supported by strong equity and liquidity positions. The company aims to continue its growth trajectory while maintaining a focus on asset quality and expense control.