---
schema_version: "secwatch.filing_event.v1"
accession: "0001315399-24-000002"
form_type: "8-K"
ticker: "PKBK"
cik: "0001315399"
company_name: "PARKE BANCORP, INC."
filed_at: "2024-01-24T23:59:59+00:00"
generated_at: "2026-06-06T19:06:26.895354+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Parke Bancorp Q4 net income down 22%; full-year earnings hit by $9.5M contingent loss

## Summary
- Q4 net income $8.2M ($0.68 basic EPS) vs $10.4M ($0.88) in Q4 2022; net interest income fell 18% to $15.5M.
- Full-year net income $28.4M ($2.38 basic) vs $41.8M ($3.51); non-interest expense up 48% due to $9.5M armored car theft loss.
- Total deposits fell 1.5% to $1.55B; cannabis-related deposits dropped $80.7M to $96.7M; brokered deposits rose to $223.4M.
- Nonperforming loans decreased to $7.3M (0.41% of loans) from $16.3M; allowance coverage ratio improved to 442.5%.
- CEO cites challenging year but notes ROAA of 1.45% and ROAE over 10%; expects potential rate cuts in 2024 to aid growth.

## SEC filing metadata
- accession: 0001315399-24-000002
- form_type: 8-K
- ticker: PKBK
- cik: 0001315399
- company_name: PARKE BANCORP, INC.
- filed_at: 2024-01-24T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1315399/000131539924000002/0001315399-24-000002-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1315399/000131539924000002/pkbk-20240124.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001315399-24-000002
- JSON: https://secwatch.observer/filing/0001315399-24-000002.json
- Plain text: https://secwatch.observer/filing/0001315399-24-000002.txt

## Key facts
- Earnings Releases
  PARKE BANCORP, INC. reported year ended December 31, 2023 results: revenue 64.2 million, net income 28.4 million, EPS 2.38.
  - Period: year ended December 31, 2023
  - Revenue: 64.2 million
  - Net income: 28.4 million
  - EPS: 2.38
  - Result: reported results
  source text: and benefits expense, lower net interest income, and lower non-interest income, partially offset by lower provision for credit losses. • Net interest income decreased 12.4% to $64.2 million for the fiscal year ended December 31, 2023, compared to $73.3 million for the same period in 2022. • Provision for credit losses decreased $3.9 million to a recovery of $2.1
  evidence_url: https://www.sec.gov/Archives/edgar/data/1315399/000131539924000002/0001315399-24-000002-index.htm
- Earnings Releases
  PARKE BANCORP, INC. reported quarter ended December 31, 2023 results: revenue 15.5 million, net income 8.2 million, EPS 0.68.
  - Period: quarter ended December 31, 2023
  - Revenue: 15.5 million
  - Net income: 8.2 million
  - EPS: 0.68
  - Result: reported results
  source text: 2022. The decrease is primarily driven by lower net interest income, partially offset by a decrease in the provision for credit losses. • Net interest income decreased 18.0% to $15.5 million for the three months ended December 31, 2023, compared to $18.9 million for the same period in 2022. • Provision for credit losses was a recovery of $0.5 million for the three
  evidence_url: https://www.sec.gov/Archives/edgar/data/1315399/000131539924000002/0001315399-24-000002-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.