Parke Bancorp's Q3 net income rises, helped by loan growth

Parke Bancorp

21/10/2026 13:43

Overview
U.S. community bank's Q3 revenue grew 6.1% yr/yr, net income rose 14.5%
Q3 adjusted EPS rose to $1.02 from $0.89 yr/yr
Earnings growth driven by higher net interest income and lower non-interest expense

Outlook
Company sees ongoing economic uncertainty and potential for further Fed rate hikes impacting outlook
Company did not provide specific financial guidance for upcoming quarters or full year in its press release

Result Drivers
LOAN GROWTH AND HIGHER RATES - Co said increased loan balances and higher market interest rates drove higher interest income
LOWER PROFESSIONAL SERVICES EXPENSE - Co said decrease in professional services expense contributed to lower non-interest expense
BOLI AND LOAN FEES - Co said higher bank owned life insurance income and loan fees boosted non-interest income

Company press release: ID:nPn7Nzp3ca

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
 
$39.6 mln
 
Q3 EPS
 
$1.02
 
Q3 Net Income
 
$12.16 mln
 
Q3 Net Interest Income
 
$23.03 mln
 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)