Quarterly ResultOct 21, 2026, 08:36 AM
Parke Bancorp Q3 Net Income Up 14.5% to $12.2M; YTD Income Up 35.9%
AI Summary
Parke Bancorp, Inc. reported strong third quarter and year-to-date results for 2026. Net income for Q3 2026 increased 14.5% year-over-year to $12.2 million, or $1.04 per basic share. Net interest income rose 14.2% to $23.0 million. For the nine months ended September 30, 2026, net income surged 35.9% to $36.2 million. The company also saw significant improvements in asset quality, with nonperforming loans decreasing by 46.2%. Total assets grew to $2.33 billion, and the efficiency ratio improved to 29.50%.
Key Highlights
- Net income available to common shareholders was $12.2 million, or $1.04 per basic share, for Q3 2026, up 14.5% YoY.
- Net interest income increased 14.2% to $23.0 million for Q3 2026 compared to Q3 2025.
- Total assets grew 3.7% to $2.33 billion at September 30, 2026, from $2.25 billion at December 31, 2025.
- Nonperforming loans decreased 46.2% to $5.8 million at September 30, 2026, from $10.8 million at December 31, 2025.
- Net income for the nine months ended September 30, 2026, increased 35.9% to $36.2 million.
- Return on average assets was 2.16% for the nine months ended September 30, 2026, up from 1.68% in 2025.
- Efficiency ratio improved to 29.50% for the nine months ended September 30, 2026, from 35.68% in 2025.
Price Impact
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