Parke Bancorp Q2 Net Income Jumps 48% to $12.2M on Loan Growth
PKBK sits 65% above its 52-week low of $19.71.
Summary
Parke Bancorp delivered a strong Q2, with net income surging 47.8% year-over-year to $12.2 million, or $1.03 per diluted share, driven by a 28.8% jump in net interest income to $23.0 million on higher loan yields. Revenue reached $39.3 million, supported by loan growth and higher market rates, while interest expense fell 10% as deposit costs eased. The net interest margin held steady at 4.17%, and credit quality improved with a lower provision. This follows a robust Q1 and the May announcement of a 5% stock buyback program, reinforcing the bank's capital strength. With assets crossing $2.3 billion and six-month EPS of $2.02, the earnings trajectory remains sharply upward.
At the time of this announcement, PKBK was trading at $32.60 on NASDAQ in the Finance sector, with a market capitalization of approximately $384.1M. The 52-week trading range was $19.71 to $34.47. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: PR Newswire.