secwatch.observer — SEC 8-K summary
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Issuer:     PARKE BANCORP, INC. (PKBK)
CIK:        0001315399
Form:       8-K
Filed at:   2023-04-24T23:59:59+00:00
Accession:  0001315399-23-000033
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Parke Bancorp Q1 net income up 10% to $11.1M; deposits down 7%, borrowings up 65%
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- Net income available to common shareholders $11.1M ($0.93 basic EPS) vs $10.1M in Q1 2022, up 10.3%.
- Deposits fell 7.1% to $1.46B; borrowings increased $82M to $208.1M to fund loans.
- Net interest income flat at $17.1M; recorded $2.4M credit provision vs no provision in prior year.
- Non-interest expense rose 19.1% to $6.8M, driven by compensation and benefits.
- CEO cites deposit challenges, higher rates, uncertain economy; maintains strong loan pipeline.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1315399/000131539923000033/0001315399-23-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1315399/000131539923000033/pkbk-20230424.htm
  HTML page:      https://secwatch.observer/filing/0001315399-23-000033

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