secwatch.observer — SEC 8-K summary
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Issuer:     PARKE BANCORP, INC. (PKBK)
CIK:        0001315399
Form:       8-K
Filed at:   2024-07-19T23:59:59+00:00
Accession:  0001315399-24-000053
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Parke Bancorp Q2 2024 net income $6.5M, down 20.6% YoY; EPS $0.54 vs $0.68
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- Net income available to common shareholders $6.5M ($0.54 basic EPS), down $1.7M or 20.6% from Q2 2023.
- Net interest income fell 9.8% to $14.3M on higher funding costs; total revenue $31.4M up 8.8% QoQ.
- Total deposits decreased 3.6% to $1.50B from Dec 2023; borrowings increased $50.1M to $218.2M.
- Provision for credit losses $0.5M, unchanged YoY; ACL-to-loans ratio steady at 1.80%.
- Tangible book value per share rose to $24.46 from $23.75 at Dec 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1315399/000131539924000053/0001315399-24-000053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1315399/000131539924000053/pkbk-20240719.htm
  HTML page:      https://secwatch.observer/filing/0001315399-24-000053

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