PARKE BANCORP INC
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
PKBK$32.96+1.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 1. Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (unaudited)
Consolidated Balance Sheets
(Dollars in thousands except per share data)
| September 30,2024 | December 31,2023 | |
|---|---|---|
| Assets | ||
| Cash and due from banks | $4,884 | $12,716 |
| Interest bearing deposits with banks | 167,565 | 167,660 |
| Cash and cash equivalents | 172,449 | 180,376 |
| Investment securities available for sale, at fair value | 6,041 | 7,095 |
| Investment securities held to maturity, net of allowance for credit losses of $0 at September 30, 2024 and December 31, 2023 (fair value of $7,872 at September 30, 2024 and $7,892 at December 31, 2023) | 9,228 | 9,292 |
| Total investment securities | 15,269 | 16,387 |
| Loans, net of unearned income | 1,839,929 | 1,787,340 |
| Less: Allowance for credit losses | (32,318) | (32,131) |
| Net loans | 1,807,611 | 1,755,209 |
| Accrued interest receivable | 9,242 | 8,555 |
| Premises and equipment, net | 5,365 | 5,579 |
| Restricted stock | 8,619 | 7,636 |
| Bank owned life insurance (BOLI) | 28,904 | 28,415 |
| Deferred tax asset | 9,214 | 9,262 |
| Other real estate owned (OREO) | 1,562 | 1,550 |
| Other | 7,174 | 10,531 |
| Total assets | $2,065,409 | $2,023,500 |
| Liabilities and Shareholders' Equity | ||
| Liabilities | ||
| Deposits | ||
| Noninterest-bearing deposits | $198,499 | $232,189 |
| Interest-bearing deposits | 1,360,384 | 1,320,638 |
| Total deposits | 1,558,883 | 1,552,827 |
| FHLBNY borrowings | 145,000 | 125,000 |
| Subordinated debentures | 43,253 | 43,111 |
| Accrued interest payable | 7,112 | 4,146 |
| Other | 14,701 | 14,099 |
| Total liabilities | 1,768,949 | 1,739,183 |
| Shareholders' Equity | ||
| Preferred stock, 1,000,000 shares authorized, $1,000 liquidation value Series B non-cumulative convertible; 325 shares and 375 shares outstanding at September 30, 2024 and December 31, 2023, respectively | 325 | 375 |
| Common stock, $0.10 par value; authorized 15,000,000 shares; Issued: 12,264,116 shares and 12,240,821 shares at September 30, 2024 and December 31, 2023, respectively | 1,226 | 1,224 |
| Additional paid-in capital | 137,130 | 136,700 |
| Retained earnings | 163,085 | 149,437 |
| Accumulated other comprehensive loss | (267) | (404) |
| Treasury stock, 381,723 shares and 284,522 shares at September 30, 2024 and December 31, 2023, at cost | (5,039) | (3,015) |
| Total shareholders’ equity | 296,460 | 284,317 |
| Total liabilities and shareholders' equity | $2,065,409 | $2,023,500 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.