Parke Bancorp Q3 Net Income Rises 14.5% to $12.2 Million
WASHINGTON TOWNSHIP, NJ, October 21, 2026 - Parke Bancorp, Inc. reported net income available to common shareholders of $12.2 million for the three months ended September 30, 2026. The figure represents a 14.5% increase from the $10.6 million recorded in the same period of 2025. Parke Bancorp, the parent company of Parke Bank and listed on NASDAQ under the ticker PKBK, released these operating results on October 21, 2026.
WASHINGTON TOWNSHIP, NJ, October 21, 2026 - Parke Bancorp, Inc. reported net income available to common shareholders of $12.2 million for the three months ended September 30, 2026. The figure represents a 14.5% increase from the $10.6 million recorded in the same period of 2025. Parke Bancorp, the parent company of Parke Bank and listed on NASDAQ under the ticker PKBK, released these operating results on October 21, 2026.
The company's net interest income for the third quarter of 2026 reached $23.0 million, up $2.9 million or 14.2% from $20.2 million in the prior year period. This growth was driven by a $2.1 million increase in interest and fees on loans, which totaled $37.0 million for the quarter. The rise in loan interest income resulted from higher market interest rates and increased average loan portfolio balances.
Interest expense decreased by $0.7 million, or 4.3%, to $15.6 million for the three months ended September 30, 2026. This reduction was primarily due to lower interest rates on deposits, which offset an increase in interest expense on borrowings from the Federal Home Loan Bank of New York (FHLBNY). For the nine-month period ended September 30, 2026, total interest expense fell by $4.8 million, or 9.6%, to $45.9 million.
Non-interest expense for the third quarter declined by $0.4 million, or 5.4%, to $6.8 million compared to the same period in 2025. The decrease was mainly attributed to a $1.0 million drop in professional services expense, which included lower BSA related consulting fees and a transfer of OREO related legal fees to OREO expense. These savings were partially offset by a $0.2 million increase in compensation and benefits and a $0.3 million rise in OREO expense.
For the nine months ended September 30, 2026, Parke Bancorp reported net income available to common shareholders of $36.2 million, or $3.09 per basic common share. This represents a 35.9% increase from $26.7 million in the same period of 2025. The annualized growth was supported by a $13.5 million increase in net interest income, which rose 24.8% to $68.2 million.
Total assets for the company stood at $2.33 billion as of September 30, 2026, marking a 3.7% increase from December 31, 2025. The net interest margin for the year to date 2026 was 4.15%, compared to 3.49% for the year to date 2025.
Vito S. Pantilione serves as President and CEO of Parke Bancorp, while Jonathan D. Hill is the Senior Vice President and CFO.