secwatch.observer — SEC 8-K summary
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Issuer:     PARKE BANCORP, INC. (PKBK)
CIK:        0001315399
Form:       8-K
Filed at:   2025-01-24T23:59:59+00:00
Accession:  0001315399-25-000003
Event type: earnings
Sentiment:  negative
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Parke Bancorp Q4 net income $7.4M ($0.62/share), down 9.5% YoY; FY net income $27.5M down 3.3%
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- Q4 net income $7.4M ($0.62 basic EPS), down 9.5% from Q4 2023; FY net income $27.5M ($2.30 basic EPS), down 3.3% from FY 2023.
- Net interest income FY 2024 $58.7M, down 8.6% YoY; non-interest income down 35.7% to $4.3M, partly due to lower cannabis-related deposit fees.
- Nonperforming loans rose to $11.8M (0.63% of loans) at Dec 31, 2024 from $7.3M a year earlier; ACL ratio to NPLs fell to 276.5% from 442.5%.
- Total assets $2.14B (+5.9% YoY); deposits $1.63B (+5.0%); cannabis-related deposits nearly doubled to $151.9M.
- CEO cites higher interest expense from delayed rate cuts; tight cost control with efficiency ratio near 41%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1315399/000131539925000003/0001315399-25-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1315399/000131539925000003/pkbk-20250124.htm
  HTML page:      https://secwatch.observer/filing/0001315399-25-000003

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