secwatch.observer — SEC 8-K summary
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Issuer:     PARKE BANCORP, INC. (PKBK)
CIK:        0001315399
Form:       8-K
Filed at:   2022-07-20T23:59:59+00:00
Accession:  0001315399-22-000112
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1315399/000131539922000112/0001315399-22-000112-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1315399/000131539922000112/pkbk-20220720.htm
  HTML page:      https://secwatch.observer/filing/0001315399-22-000112

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer