Parke Bancorp, Inc. (NASDAQ: PKBK) reported financial results for the three and nine months ended September 30, 2026, in an 8-K filing dated October 21, 2026. The company reported net income of $12.2 million for the third quarter of 2026, an increase of 14.5% compared to the same period in 2025. For the nine months ended September 30, 2026, net income available to common shareholders was $36.2 million, representing a 35.9% increase over the prior year.
Net interest income for the third quarter of 2026 was $23.0 million, up 14.2% from $20.2 million in the prior year. This increase was attributed to higher interest and fees on loans, driven by market interest rates and higher average loan balances. Non-interest income for the quarter was $1.0 million, while non-interest expense decreased 5.4% to $6.8 million. The company recorded a provision for credit losses of $1.0 million for the quarter, compared to $0.4 million in the prior year.
For the nine months ended September 30, 2026, net interest income totaled $68.2 million, a 24.8% increase from the prior year. The company’s net interest margin for the year-to-date period was 4.15%, compared to 3.49% for the same period in 2025. Total assets at September 30, 2026, were $2.33 billion, an increase of 3.7% from $2.25 billion at December 31, 2025. Gross loans increased to $2.10 billion, up 3.0% year-over-year.
Nonperforming loans decreased to $5.8 million, or 0.28% of total loans, a decrease of $5.0 million from the prior year. However, other real estate owned (OREO) increased to $7.2 million. Total deposits were $1.78 billion, up 1.0% from year-end 2025, driven largely by an increase in brokered deposits. Total borrowings increased to $178.4 million, primarily due to outstanding Federal Home Loan Bank of New York (FHLBNY) borrowings. The company’s return on average assets (ROAA) was 2.16%, and return on average equity (ROAE) was 14.15% for the nine months ended September 30, 2026.
