PKBK News & Events

Parke Bancorp announced its Board of Directors approved a stock repurchase program to allow repurchases of up to 5% of the company's common stock during the next twelve months, unless completed sooner or otherwise extended.

Parke Bancorp announced that its Board of Directors has approved a 2c increase in the cash dividend to be declared for the second fiscal quarter of 2026. As a result of this increase, the second quarter dividend will be 20c per share.

Net interest income increased $5.5M, or 33.3%, to $22.1M for the three months ended March 31, 2026, compared to $16.6M for the same period in 2025. Vito Pantilione, President and CEO of Parke Bancorp provided the following statement: "2026 has started off with many of the challenges in 2025 continuing, and in some instances worsening. The immigration crisis, no clear direction of interest rates, inflation remaining a serious concern, the Russia - Ukraine war continuing, and the Iran conflict that started in February, are all challenges making it difficult to identify the market's direction. The market seemed to be checking the boxes for a couple of rate cuts, however, Iran blocking the Strait of Hormuz, combined with the interruption of oil production has triggered sharp increases in oil and gas prices, reigniting inflation. It is important for banks, including Parke Bank, to remain nimble and responsive to address possible challenges and evolving opportunities."