secwatch.observer — SEC 8-K summary
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Issuer:     PARKE BANCORP, INC. (PKBK)
CIK:        0001315399
Form:       8-K
Filed at:   2023-07-26T23:59:59+00:00
Accession:  0001315399-23-000059
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1315399/000131539923000059/0001315399-23-000059-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1315399/000131539923000059/pkbk-20230726.htm
  HTML page:      https://secwatch.observer/filing/0001315399-23-000059

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