secwatch.observer — SEC 8-K summary
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Issuer:     PARKE BANCORP, INC. (PKBK)
CIK:        0001315399
Form:       8-K
Filed at:   2024-10-18T23:59:59+00:00
Accession:  0001315399-24-000073
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Parke Bancorp Q3 net income $7.5M, up 16% QoQ; NPLs rise to $12.2M
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- Net income $7.5M ($0.63 EPS) in Q3 2024, up 16% QoQ; YoY comp inflated by $9.5M 2023 loss contingency.
- Net interest income fell 6.1% YoY to $14.7M on higher deposit/borrowing costs; total revenue $33.0M, up 5.2% QoQ.
- Nonperforming loans increased 68% from Dec 2023 to $12.2M (0.66% of loans); ACL at $32.3M (265% of NPLs).
- Total assets $2.07B (+2.1% YTD); loans $1.84B (+2.9% YTD); deposits $1.56B (+0.4% YTD); book value $24.92.
- CEO noted Fed rate cut but warned of geopolitical risks; sees stable residential construction activity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1315399/000131539924000073/0001315399-24-000073-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1315399/000131539924000073/pkbk-20241018.htm
  HTML page:      https://secwatch.observer/filing/0001315399-24-000073

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