Parke Bancorp Reports Strong Fourth Quarter Earnings, Exceeds Revenue Estimates
WASHINGTON TOWNSHIP, N.J. - Parke Bancorp Inc. (PKBK) announced net income of $7.4 million for its fourth quarter, reflecting a 1.11% increase compared to the same period last year. On a per-share basis, earnings were recorded at 61 cents.
The bank reported total revenue of $34.5 million during the quarter. Notably, its revenue net of interest expense reached $16.8 million, surpassing market expectations.
For the full-year period, Parke Bancorp generated a profit of $27.5 million, translating to earnings per share of $2.27. Revenue for the year amounted to $63 million.