Parke Bancorp, Inc. reported a significant increase in its financial performance for the third quarter and the first nine months of 2025, as detailed in its latest 10-Q filing. For the three months ended September 30, 2025, the company achieved a net income of $10.6 million, a 41.6% increase from $7.5 million in the same period last year. Earnings per share rose to $0.90 from $0.63. For the nine months ending September 30, 2025, net income available to common shareholders reached $26.7 million, up 32.7% from $20.1 million in 2024, with earnings per share increasing to $2.26 from $1.68.
The company's net interest income for the third quarter was $20.2 million, reflecting a 37.0% increase from $14.7 million in the prior year, primarily driven by higher interest and fees on loans. Total interest income rose by $4.4 million, or 13.7%, largely due to increased loan balances and market interest rates. However, the provision for credit losses also increased to $0.4 million from a recovery of $0.1 million in the previous year, attributed to growth in the construction and commercial non-owner occupied loan portfolios.
In terms of operational developments, Parke Bancorp's total assets increased to $2.17 billion as of September 30, 2025, up from $2.14 billion at the end of 2024. This growth was primarily due to a $90.7 million increase in net loans, which reached $1.96 billion, driven by expansions in the construction and commercial non-owner occupied loan segments. Total deposits also rose by 7.5% to $1.75 billion, with significant contributions from money market accounts, which increased by $273.3 million.
The company has also made strategic moves to enhance its capital position, with total equity rising to $314.8 million, an increase of 4.9% from the previous year. This growth was supported by retained earnings, despite the payment of $6.4 million in dividends and $6.5 million in stock repurchases. Looking ahead, Parke Bancorp remains focused on organic growth and deepening client relationships while managing risks and expenses, positioning itself for continued stability and profitability in a challenging economic environment.
About PARKE BANCORP, INC.
Parke Bancorp, Inc. is a bank holding company that owns Parke Bank, a full-service commercial bank serving small to mid-sized businesses and individuals primarily in New Jersey, Pennsylvania, and New York. It offers loans, deposit services, and financial products, with core activities in commercial real estate, residential, construction, and consumer lending. The company emphasizes community banking, regulatory compliance, and diversified funding sources.
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