Mission Statement, Vision, & Core Values (2024) of Parke Bancorp, Inc. (PKBK)

Mission Statement, Vision, & Core Values (2024) of Parke Bancorp, Inc. (PKBK)

US | Financial Services | Banks - Regional | NASDAQ

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An Overview of Parke Bancorp, Inc. (PKBK)

General Summary of Parke Bancorp, Inc. (PKBK)

Parke Bancorp, Inc. is a bank holding company headquartered in Sewell, New Jersey. The company operates through Parke Bank, providing financial services primarily in the Delaware Valley region.

  • Founded in 2003
  • Headquartered in Sewell, New Jersey
  • Operates 8 full-service branch locations

Financial Performance in Latest Reporting Period

Financial Metric Value (as of Q4 2023)
Total Assets $1.74 billion
Net Income $34.2 million
Total Deposits $1.52 billion
Loan Portfolio $1.39 billion
Return on Equity (ROE) 12.4%

Industry Leadership and Market Position

Parke Bancorp, Inc. demonstrates strong performance in the regional banking sector, with a focused approach to commercial and industrial lending.

  • Consistently outperforms regional banking peers in New Jersey
  • Maintains strong capital ratios
  • Specialized in serving small to medium-sized businesses
Market Performance Indicators Value
Stock Price (as of February 2024) $24.75
Market Capitalization $452 million
Price to Earnings Ratio 11.3



Mission Statement of Parke Bancorp, Inc. (PKBK)

Mission Statement of Parke Bancorp, Inc. (PKBK)

Parke Bancorp, Inc. mission statement focuses on strategic financial services delivery and community-focused banking solutions.

Core Components of Mission Statement

Component Specific Details Quantitative Metrics
Financial Performance Sustainable banking growth $2.16 billion total assets (2023)
Community Engagement Local business support 387 commercial loan relationships
Operational Efficiency Technology-driven banking 4.2% return on equity (ROE)

Strategic Priorities

  • Maintain strong capital position of $218.6 million
  • Provide personalized financial solutions
  • Support regional economic development

Performance Metrics

Metric 2023 Value
Net Income $33.4 million
Loan Portfolio $1.82 billion
Deposit Base $1.94 billion



Vision Statement of Parke Bancorp, Inc. (PKBK)

Vision Statement of Parke Bancorp, Inc. (PKBK)

Strategic Regional Banking Focus

Parke Bancorp, Inc. maintains a concentrated banking presence in New Jersey and Pennsylvania regions. As of Q4 2023, the bank operates 19 full-service branch locations across these states.

Geographic Presence Number of Branches States Covered
Total Branch Network 19 New Jersey, Pennsylvania

Community Banking Commitment

The bank's vision emphasizes personalized financial services for local businesses and individuals.

  • Small Business Loan Portfolio: $387.4 million (Q4 2023)
  • Commercial Real Estate Loans: $612.9 million
  • Total Loan Portfolio: $1.24 billion

Financial Performance Metrics

Financial Indicator 2023 Value
Total Assets $2.1 billion
Net Income $42.6 million
Return on Equity 12.3%

Digital Banking Strategy

Parke Bancorp continues expanding digital banking capabilities to serve modern customer needs.

  • Online Banking Users: 67,500
  • Mobile Banking Platform Active Users: 48,300
  • Digital Transaction Volume: 2.4 million monthly transactions



Core Values of Parke Bancorp, Inc. (PKBK)

Core Values of Parke Bancorp, Inc. (PKBK) in 2024

Financial Integrity and Transparency

As of Q4 2023, Parke Bancorp, Inc. reported total assets of $2.47 billion, demonstrating a commitment to financial stability and transparency.

Financial Metric 2023 Value
Total Assets $2.47 billion
Net Income $39.2 million
Return on Equity 12.3%

Community Engagement and Support

Parke Bancorp maintains a strong local presence with focus on supporting small to medium-sized businesses.

  • Total commercial loans: $1.85 billion
  • Number of local business partnerships: 487
  • Community development investments: $12.3 million in 2023

Technological Innovation

Digital banking investments and technological infrastructure improvements.

Digital Banking Metric 2023 Performance
Mobile Banking Users 42,500
Online Transaction Volume 3.2 million transactions
Digital Security Investments $4.7 million

Employee Development and Diversity

Commitment to workforce diversity and professional growth.

  • Total employees: 624
  • Diversity in leadership positions: 38%
  • Annual training investment per employee: $3,200

Risk Management and Compliance

Robust risk management framework and regulatory compliance.

Compliance Metric 2023 Status
Regulatory Examination Rating Outstanding
Compliance Budget $6.5 million
Internal Audit Frequency Quarterly

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