---
schema_version: "secwatch.filing_event.v1"
accession: "0001315399-24-000031"
form_type: "8-K"
ticker: "PKBK"
cik: "0001315399"
company_name: "PARKE BANCORP, INC."
filed_at: "2024-04-19T23:59:59+00:00"
generated_at: "2026-06-03T15:19:10.533206+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Parke Bancorp Q1 net income falls 44.8% to $6.1M on lower NII and credit provision

## Summary
- Net income $6.1M ($0.51 diluted) vs $11.1M ($0.92) in Q1 2023, a 44.8% decline.
- Net interest income fell 18% to $14.1M; provision for credit losses was $0.2M vs a $2.4M recovery last year.
- Total deposits up 0.7% to $1.56B; total assets down 0.7% to $2.01B; nonperforming loans at 0.39% of loans.
- Non-interest income down 40.4% to $1.1M; non-interest expense down 3.3% to $6.5M.
- Tangible book value per share $24.08 vs $23.75; CEO cites higher funding costs and slow loan growth.

## SEC filing metadata
- accession: 0001315399-24-000031
- form_type: 8-K
- ticker: PKBK
- cik: 0001315399
- company_name: PARKE BANCORP, INC.
- filed_at: 2024-04-19T23:59:59+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/1315399/000131539924000031/0001315399-24-000031-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1315399/000131539924000031/pkbk-20240419.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001315399-24-000031
- JSON: https://secwatch.observer/filing/0001315399-24-000031.json
- Plain text: https://secwatch.observer/filing/0001315399-24-000031.txt

## Key facts
- Earnings Releases
  PARKE BANCORP, INC. reported the three months ended March 31, 2024 results: revenue $30.5 million, net income $6.1 million, EPS $0.51 per diluted common share.
  - Period: the three months ended March 31, 2024
  - Revenue: $30.5 million
  - Net income: $6.1 million
  - EPS: $0.51 per diluted common share
  - Result: reported results
  source text: Highlights: Net Income: $6.1 million for Q1 2024 Revenue: $30.5 million for Q1 2024 Total Assets: $2.01 billion, decreased 0.7% from December 31, 2023 Total Loans: $1.79 billion, decreased 0.1% over December 31, 2023 Total Deposits: $1.56 billion, increased 0.7% from December 31, 2023 WASHINGTON TOWNSHIP, NJ, April 19, 2024 - Parke Bancorp, Inc. (“Parke Bancorp” or the "Company") (NASDAQ: “PKBK”), the parent company of Parke Bank, announced its operating results for the quarter ended March 31, 2024. Highlights for the three months ended March 31, 2024: • Net income available to common shareholders was $6.1 million, or $0.51 per basic common share and $0.51 per diluted common share, for the three months ended March 31, 2024, a decrease of $5.0 million, or 44.8%, compared to net income available to common shareholders of $11.1 million, or $0.93 per basic common share and $0.92 per diluted common share, for the three months ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1315399/000131539924000031/0001315399-24-000031-index.htm

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