Parke Bancorp Q2 net income $10.7M ($0.88 diluted), down 0.2% YoY; deposits fall 9.2%

PARKE BANCORP, INC.

2022-Q2 EPS reported $1.71

Net income available to common shareholders $10.7M ($0.88 diluted) vs $10.8M ($0.89) in Q2 2021, down 0.2%.
Total assets $1.99B (-6.8% from Dec 2021); total deposits $1.61B (-9.2%), primarily driven by cannabis deposit fluctuation.
Gross loans increased 4.3% to $1.55B; nonperforming loans 0.25% of total loans; allowance for loan losses to loans 1.97%.
Provision for loan losses $350K in Q2 2022, compared to zero in Q2 2021, due to loan balance growth.
CEO warns of 125bps rate hikes, potential recession; bank maintains strong capital and allowance reserves near 2%.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.