Parke Bancorp Q1 net income rises 52.3% to $11.8 million

Parke Bancorp, Inc.

Parke Bancorp, Inc.

PKBK

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  • Parke Bancorp posted net income available to common shareholders of USD 11.8 million, up 52.3%, with diluted EPS of USD 0.99.
  • Net interest income climbed 33.3% to USD 22.1 million, lifting net interest margin to 4.17% from 3.21%.
  • Provision for credit losses fell to USD 200,000 from USD 600,000.
  • Total assets slipped 1.6% to USD 2.21 billion, while total deposits dropped 3.4% to USD 1.7 billion.
  • FHLBNY borrowings rose 7.7% to USD 140 million; tier 1 leverage ratio stood at 15.92% for Company and 15.9% for Parke Bank.


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