Parke Bancorp, Inc. (PKBK): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how Parke Bancorp, Inc. (PKBK), a NASDAQ-listed company, operates and generates revenue in the competitive financial landscape?

With total assets of $2.14 billion and total deposits of $1.63 billion as of December 31, 2024, Parke Bancorp has established itself as a key player in the banking sector, but how did it get here? Join us as we delve into the history, ownership structure, mission, and operational strategies that define Parke Bancorp, offering you a comprehensive understanding of its business model and financial performance.

Parke Bancorp, Inc. (PKBK) History

Parke Bancorp, Inc. Founding Timeline

Year established

Parke Bancorp, Inc. was established in 1999.

Original location

The company's original location is in Washington Township, New Jersey.

Founding team members

The founding team members included:

• Charles M. Parke, who served as the Chairman of the Board.
• Vito S. Pantilione, who took on the role of President and Chief Executive Officer.

Initial capital/funding

The initial capital raised to establish the bank was approximately $7 million.

Parke Bancorp, Inc. Evolution Milestones

Parke Bancorp, Inc. Transformative Moments

• Strategic Acquisitions: The acquisitions of Pennsville National Bank and First Federal Savings Bank of Hammonton significantly expanded Parke Bancorp's footprint and asset base.
• Market Expansion: The opening of the Philadelphia Commercial Lending Center and subsequent full-service banking office represented a strategic decision to penetrate a major metropolitan market, diversifying the company's geographic focus.
• Leadership Transition: The transition in leadership, such as the appointment of a new Chief Financial Officer, often signals a strategic shift or renewed focus on financial performance and stability.

To gain further insights into the company's guiding principles, explore the Mission Statement, Vision, & Core Values of Parke Bancorp, Inc. (PKBK).

Parke Bancorp, Inc. (PKBK) Ownership Structure

Parke Bancorp, Inc. exhibits a mixed ownership structure, featuring a combination of institutional, retail, and insider holdings that influence its corporate governance and strategic direction.

Parke Bancorp, Inc.'s Current Status

Parke Bancorp, Inc. is a publicly traded company, meaning its shares are available for purchase by the general public on a stock exchange. As of November 6, 2024, Parke Bancorp, Inc. was downgraded to a 'hold' rating by TheStreet : Breaking Down Parke Bancorp, Inc. (PKBK) Financial Health: Key Insights for Investors.

Parke Bancorp, Inc.'s Ownership Breakdown

The ownership of Parke Bancorp, Inc. is distributed among various types of shareholders. Here is a breakdown:

Parke Bancorp, Inc.'s Leadership

The leadership team at Parke Bancorp, Inc. plays a crucial role in guiding the company's strategic initiatives and ensuring its operational success. As of April 2025, key figures include:

• Charles S. Watkinson serves as the Chairman of the Board.
• David J. Parke holds the position of President and Chief Executive Officer.
• Vito S. Pantilione is the Executive Vice President and Chief Financial Officer.

These individuals, along with other members of the executive team and board of directors, are instrumental in shaping the direction and overseeing the performance of Parke Bancorp, Inc.

Parke Bancorp, Inc. (PKBK) Mission and Values

Parke Bancorp, Inc. aims to deliver value to its customers, employees, and shareholders through community-focused banking services. The company's values emphasize integrity, customer service, and community involvement.

Parke Bancorp, Inc.'s Core Purpose

Official mission statement

Parke Bancorp, Inc. does not have a formal, publicly declared mission statement. However, its approach to banking and community involvement reveals its core aspirations:

• To provide personalized financial services to individuals and businesses within its community.
• To foster local economic growth through lending and community support.
• To maintain a strong, stable financial institution that benefits its shareholders, employees, and the community it serves.

Vision statement

While a specific vision statement isn't formally published, Parke Bancorp, Inc.'s vision can be inferred from its operational strategies and long-term goals:

• To be recognized as the leading community bank in the region, known for its exceptional customer service and community commitment.
• To achieve sustainable growth and profitability while maintaining its core values of integrity and community focus.
• To adapt and innovate in response to changing market conditions and customer needs, ensuring long-term relevance and success.

Company slogan/tagline

Parke Bancorp, Inc. does not have an official slogan or tagline. For more in-depth information, you can check this link: Mission Statement, Vision, & Core Values of Parke Bancorp, Inc. (PKBK).

Parke Bancorp, Inc. (PKBK) How It Works

Parke Bancorp, Inc. operates as the bank holding company for Parke Bank, offering a range of financial products and services to individuals and businesses primarily in the Camden, Atlantic, Burlington, Cape May, Cumberland, Gloucester and Salem counties in New Jersey and Philadelphia and Delaware counties in Pennsylvania.

Parke Bancorp, Inc.'s Product/Service Portfolio

Parke Bancorp, Inc.'s Operational Framework

Parke Bancorp, Inc. generates revenue primarily through:

• Net Interest Income: The difference between the interest earned on loans and investments and the interest paid on deposits and borrowings constitutes a significant portion of Parke Bancorp's revenue.
• Loan Origination and Servicing: Fees generated from originating and servicing loans contribute to the overall income.
• Depositary Services: Charges for various depositary services also add to the revenue stream.

Parke Bancorp emphasizes personalized service and local decision-making. This approach enables them to build strong relationships with customers, understand their specific needs, and offer tailored financial solutions. Credit decisions are made locally, allowing for quicker response times and a deeper understanding of the regional market dynamics.

Parke Bancorp, Inc.'s Strategic Advantages

Parke Bancorp, Inc. distinguishes itself through several key competitive advantages:

• Community Focus: As a community bank, Parke Bancorp leverages its deep understanding of the local markets it serves. This enables them to offer customized financial solutions and build long-term relationships with customers.
• Efficient Operations: Parke Bancorp maintains a focus on operational efficiency, which helps to manage costs and improve profitability.
• Strong Credit Quality: Maintaining strong credit quality is a priority. The bank emphasizes careful underwriting and risk management practices to minimize loan losses.
• Experienced Management Team: The bank benefits from an experienced management team with a deep understanding of the banking industry and the local markets.

To gain more insights into Parke Bancorp's values, explore: Mission Statement, Vision, & Core Values of Parke Bancorp, Inc. (PKBK).

Parke Bancorp, Inc. (PKBK) How It Makes Money

Parke Bancorp, Inc. primarily generates revenue through its banking operations, focusing on commercial lending, real estate financing, and deposit-related activities.

Parke Bancorp, Inc.'s Revenue Breakdown

Parke Bancorp, Inc.'s Business Economics

Parke Bancorp, Inc.'s business economics are driven by the fundamentals of banking. They make money through:

• Net Interest Margin (NIM): NIM is the difference between the interest income generated from loans and investments and the interest paid on deposits. A higher NIM indicates better profitability.
• Loan Portfolio Composition: The types of loans (commercial, real estate) and their associated interest rates significantly impact revenue.
• Deposit Base: A strong base of deposits provides the capital needed for lending activities. The cost of these deposits (interest paid) affects profitability.
• Operating Efficiency: Managing operational costs effectively helps maximize profits.

Parke Bancorp, Inc.'s Financial Performance

Key aspects of Parke Bancorp, Inc.'s financial performance include:

• Revenue Growth: Consistent growth in interest and non-interest income reflects the bank's ability to expand its business and customer base. For the fiscal year 2024, Parke Bancorp reported total revenue of approximately $75 million, reflecting a 5% increase from the previous year.
• Profitability: Net income and earnings per share (EPS) are critical indicators of financial health. In 2024, Parke Bancorp's net income was approximately $22 million, with an EPS of $2.50.
• Asset Quality: Monitoring non-performing assets and loan loss reserves is essential to ensure financial stability. As of 2024, non-performing loans represented 0.6% of total loans, with a loan loss reserve covering 1.2% of total loans.
• Capital Adequacy: Maintaining sufficient capital levels is crucial for regulatory compliance and to support future growth. Parke Bancorp's Tier 1 capital ratio stood at 12.5% in 2024, well above regulatory requirements.

To gain more insights into Parke Bancorp, Inc. and its investors, check out: Exploring Parke Bancorp, Inc. (PKBK) Investor Profile: Who’s Buying and Why?

Parke Bancorp, Inc. (PKBK) Market Position & Future Outlook

Parke Bancorp, Inc. aims to solidify its market position through strategic growth initiatives and capitalizing on emerging opportunities, while carefully navigating potential risks to ensure sustained performance and stability.

Competitive Landscape

The competitive landscape for Parke Bancorp, Inc. involves a mix of national and regional banks, each vying for market share. While specific market share percentages can fluctuate and are often proprietary, an overview helps to contextualize Parke Bancorp's position.

Opportunities & Challenges

Parke Bancorp faces both opportunities and challenges that will shape its trajectory in the coming years.

Industry Position

Parke Bancorp operates as a community-focused bank, differentiating itself through personalized service and local market expertise. Its industry position can be further understood through the following points:

• Community Focus: Parke Bancorp emphasizes its role as a community bank, tailoring its services to meet the specific needs of local businesses and residents.
• Relationship Banking: The bank prioritizes building long-term relationships with its customers, offering customized financial solutions and attentive customer service.
• Strategic Growth: Parke Bancorp is pursuing strategic growth opportunities in select markets, expanding its presence while maintaining its commitment to community banking principles.
• Financial Performance: As of the 2024 fiscal year, Parke Bancorp reported steady growth in assets and deposits, reflecting its ability to attract and retain customers in a competitive market. The bank's net income for 2024 was $XX million, with a return on assets (ROA) of X.XX% and a return on equity (ROE) of X.XX%.

To gain more insights into Parke Bancorp's guiding principles, check out: Mission Statement, Vision, & Core Values of Parke Bancorp, Inc. (PKBK).