Parke Bancorp Q2 net income falls 24% YoY to $8.1M; EPS $0.68 vs $0.90

PARKE BANCORP, INC.

2023-Q2 EPS reported $1.59

Net income $8.1M ($0.68 basic EPS), down 24.3% from $10.7M ($0.90 EPS) in Q2 2022.
Net interest income $15.9M, down 11.7% YoY; provision for credit losses $500K vs $350K.
Non-interest income down 36.5% to $1.6M; non-interest expense up 11.5% to $6.4M.
Total deposits fell 8.2% to $1.45B since year-end; NPLs rose to $19.5M (1.09% of loans).
CEO cites inflation, deposit competition, and cautious lending; tangible book value $23.33.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PARKE BANCORP, INC. reported three and six months ended June 30, 2023 results: revenue $28.9 million, net income $8.1 million, EPS $0.68 per basic common share and $0.67 per diluted common share.

Period: three and six months ended June 30, 2023
Revenue: $28.9 million
Net income: $8.1 million
EPS: $0.68 per basic common share and $0.67 per diluted common share
Result: reported results

Exact text from the filing

and CEO John S. Kaufman, Senior Vice President and CFO (856) 256-2500 PARKE BANCORP, INC. ANNOUNCES SECOND QUARTER 2023 EARNINGS Highlights: Net Income: $8.1 million Revenue: $28.9 million for Q2 2023 Total Assets: $1.98 billion, decreased 0.1% over December 31, 2022 Total Loans: $1.79 billion, increased 2.0% over December 31, 2022 Total Deposits: $1.45 billion,

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Source: SEC EDGAR

accession 0001315399-23-000059

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