Parke Bancorp, Inc. Reports Consolidated Earnings Results for the Fourth Quarter Ended December 31, 2020
January 21, 2021 at 05:07 pm
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Parke Bancorp, Inc. announced consolidated earnings results for the fourth quarter ended December 31, 2020. For the fourth quarter, the company announced net interest income was USD 17.115 million compared to USD 14.671 million a year ago. Net income was USD 8.132 million compared to USD 7.548 million a year ago. Basic earnings per share from continuing operations was USD 0.69 compared to USD 0.64 a year ago. Diluted earnings per share from continuing operations was USD 0.68 compared to USD 0.63 a year ago. For the full year, net interest income was USD 62.645 million compared to USD 56.885 million a year ago. Net income was USD 28.428 million compared to USD 29.841 million a year ago. Basic earnings per share from continuing operations was USD 2.4 compared to USD 2.52 a year ago. Diluted earnings per share from continuing operations was USD 2.37 compared to USD 2.48 a year ago.
Parke Bancorp, Inc. is a bank holding company for Parke Bank (the Bank). The Company, through its wholly owned subsidiary, provides personal and business financial services to individuals and small to mid-sized businesses. It offers a range of loan products, deposits services and other financial products through its retail branches and other channels to its customers. Its lending businesses consist of commercial real estate lending, residential real estate lending and construction lending. It also offers a range of commercial and industry loan, and consumer loan products to its customers. It funds its lending business primarily with deposits generated through retail deposits and commercial relationships. Its deposit products include checking, savings, money market deposits, time deposits and other traditional deposit services. In addition to traditional products and services, it offers contemporary products and services, such as debit cards, Internet banking, and online bill payment.
PARKE BANCORP, INC. 
