Quarterly ResultMay 6, 2026, 02:36 PM
Parke Bancorp Q1 Net Income Jumps 52% to $11.84M; EPS $1.01
AI Summary
Parke Bancorp, Inc. reported a significant increase in net income and earnings per share for the first quarter of 2026. Net income available to common shareholders jumped 52.3% to $11.84 million, with basic EPS rising to $1.01. This strong performance was driven by a 33.3% increase in net interest income and a substantial 65.8% reduction in the provision for credit losses. While total assets and deposits saw a slight sequential decrease, net loans and total shareholders' equity both increased.
Key Highlights
- Net income available to common shareholders rose 52.3% to $11.84 million for the three months ended March 31, 2026.
- Basic earnings per common share increased 53.0% to $1.01 for the three months ended March 31, 2026.
- Net interest income grew 33.3% to $22.13 million for the three months ended March 31, 2026.
- Provision for credit losses decreased 65.8% to $0.20 million for the three months ended March 31, 2026.
- Total assets were $2.21 billion as of March 31, 2026, a decrease from $2.25 billion at December 31, 2025.
- Total deposits were $1.70 billion as of March 31, 2026, down from $1.76 billion at December 31, 2025.
- Net loans increased to $2.01 billion as of March 31, 2026, from $2.00 billion at December 31, 2025.
- Total shareholders' equity increased to $335.56 million as of March 31, 2026, from $324.52 million at December 31, 2025.