Parke Bancorp, Inc. reported a significant increase in its financial performance for the fiscal year ending December 31, 2025, with net income available to common shareholders rising to $37.8 million, or $3.20 per share, compared to $27.5 million, or $2.30 per share, in the previous year. This 37.3% increase in net income was primarily driven by a 30.2% rise in net interest income, which reached $76.5 million, up from $58.7 million in 2024. The growth in net interest income was attributed to a $17.6 million increase in interest income, largely from higher average loan balances and market interest rates, while interest expense saw a slight decrease.
Total assets for Parke Bancorp increased by 5.0% to $2.25 billion, with total loans rising to $2.04 billion, an 8.9% increase from the previous year. The bank's total deposits also grew by 7.8% to $1.76 billion, reflecting a strong demand for its deposit products. However, deposits from cannabis-related customers decreased significantly to $61.9 million, down from $151.9 million in 2024, representing 3.5% of total deposits. The bank's allowance for credit losses increased to $34.6 million, reflecting a proactive approach to managing credit risk amid rising loan balances.
Strategically, Parke Bancorp has focused on expanding its lending capabilities, particularly in commercial real estate and construction loans, which contributed to the overall growth in its loan portfolio. The bank has also maintained a disciplined approach to credit risk management, with a focus on portfolio diversification and monitoring of high-risk sectors. As of December 31, 2025, the bank employed 111 staff members, including 103 full-time employees, reflecting a stable workforce to support its operations.
Looking ahead, Parke Bancorp expressed optimism about its growth trajectory, emphasizing its commitment to enhancing customer relationships and expanding its market presence. The bank's management noted that while economic conditions and regulatory environments could pose challenges, they remain focused on leveraging their strengths in community banking to drive future profitability. The bank's capital ratios remain strong, with a risk-based tier 1 capital ratio of 20.5%, positioning it well for continued growth and compliance with regulatory requirements.
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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