Part I [Business](index=6&type=section&id=Item%201.%20Business) Parke Bancorp, Inc. is a commercial bank holding company focused on real estate lending and medical-use cannabis banking, operating under BSA compliance consent orders - The company's core lending activities are focused on **commercial real estate, residential real estate, and construction lending**[22](index=22&type=chunk) - In the fourth quarter of 2020, the Bank entered into **Consent Orders** with the FDIC and NJDOBI due to weaknesses in its **Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) compliance program**[82](index=82&type=chunk) Key Financial Metrics as of December 31, 2021 | Metric | Amount (Billions) | | :--- | :--- | | Total Assets | $2.14 | | Total Loans | $1.48 | | Total Deposits | $1.77 | | Total Equity | $0.232 | [Medical-Use Cannabis Related Business](index=7&type=section&id=Medical-Use%20Cannabis%20Related%20Business) The company provides banking services to state-licensed medical-use cannabis businesses, driving significant deposit and fee income growth despite federal illegality risks - The company maintains **stringent due diligence, policies, and monitoring** for its cannabis-related business customers to comply with FinCEN guidelines, but acknowledges the **risk of changes in federal enforcement**[31](index=31&type=chunk)[32](index=32&type=chunk) Cannabis Business Financials (YoY Comparison) | Metric | 2021 (Millions) | 2020 (Millions) | | :--- | :--- | :--- | | Deposit Balances | $375.2 (21.2% of total) | $259.4 (16.3% of total) | | Fee Income | $5.1 | $2.2 | | Loan Balances | $5.4 | $8.0 | [Lending Activities](index=7&type=section&id=Lending%20Activities) Lending is concentrated in residential, commercial real estate, and construction loans, with a **$1.48 billion** portfolio, predominantly floating/variable rate - The bank's legal lending limit to a single borrower was approximately **$45.6 million** at year-end 2021, with the largest single borrower relationship having a balance of **$21.8 million**[51](index=51&type=chunk) Loan Portfolio by Type and Maturity as of Dec 31, 2021 (in thousands) | Loan Category | Due within 1 year (Thousands) | Due 1-5 years (Thousands) | Due 5-15 years (Thousands) | Due after 15 years (Thousands) | Total (Thousands) | | :--- | :--- | :--- | :--- | :--- | :--- | | Commercial and Industrial | $23,190 | $22,625 | $11,336 | $— | $57,151 | | Construction | $131,416 | $22,196 | $— | $465 | $154,077 | | Commercial Real Estate | $36,481 | $145,496 | $331,483 | $1,662 | $515,122 | | Residential Real Estate | $7,998 | $21,176 | $128,358 | $592,993 | $750,525 | | **Total** | **$199,096** | **$211,629** | **$474,219** | **$599,903** | **$1,484,847** | [Non-Performing and Problem Assets](index=10&type=section&id=Non-Performing%20and%20Problem%20Assets) Asset quality significantly improved in 2021, with total impaired loans decreasing by **54.6%** to **$10.3 million** and non-accrual loans falling to **$4.3 million** - The allowance for loan losses as a percentage of total loans increased slightly to **2.01%** in 2021 from **1.90%** in 2020, while the coverage ratio improved dramatically to **692.78%** from **340.22%**[63](index=63&type=chunk) Asset Quality Indicators (YoY Comparison) | Metric | Dec 31, 2021 (Millions) | Dec 31, 2020 (Millions) | | :--- | :--- | :--- | | Total Impaired Loans | $10.3 | $22.7 | | Non-accrual Loans | $4.3 | $8.7 | | Troubled Debt Restructurings (TDRs) | $6.0 | $13.9 | | Real Estate Owned (OREO) | $1.7 | Not specified in chunk | [Sources of Funds](index=12&type=section&id=Sources%20of%20Funds) Deposits, primarily **$1.77 billion** at year-end 2021, are the main funding source, with non-interest bearing deposits growing to **29.5%** of average total deposits - The company held brokered deposits of **$9.1 million** at the end of 2021, a significant decrease from **$71.1 million** at the end of 2020[69](index=69&type=chunk) Average Deposit Composition and Rates | Deposit Type | 2021 Avg Balance (Millions) | 2021 Avg Rate (%) | 2020 Avg Balance (Millions) | 2020 Avg Rate (%) | | :--- | :--- | :--- | :--- | :--- | | Non-interest bearing | $506.6 | 0.00 | $342.3 | 0.00 | | Interest-bearing | $1,211.5 | 0.81 | $1,173.1 | 1.51 | | **Total Deposits** | **$1,718.1** | | **$1,515.4** | | [Risk Factors](index=19&type=section&id=Item%201A.%20Risk%20Factors) The report indicates that this section is not applicable - The report states that Item 1A. Risk Factors is **not applicable**[119](index=119&type=chunk) [Unresolved Staff Comments](index=19&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments from the SEC - There are **no unresolved staff comments**[120](index=120&type=chunk) [Properties](index=20&type=section&id=Item%202.%20Properties) The company operates its main office and several branches in New Jersey and Pennsylvania, with net property and equipment totaling **$6.3 million** - The company's main office is in **Washington Township, NJ**, with **additional branches** in Northfield, Galloway Township, and Collingswood, NJ, as well as two offices in Philadelphia, PA[121](index=121&type=chunk)[122](index=122&type=chunk) - Net property and equipment totaled approximately **$6.3 million** as of December 31, 2021[122](index=122&type=chunk) [Legal Proceedings](index=20&type=section&id=Item%203.%20Legal%20Proceedings) The company reports no material legal proceedings - There are **no legal proceedings** to report[123](index=123&type=chunk) [Mine Safety Disclosures](index=20&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable to the company - This item is **not applicable** to the company[123](index=123&type=chunk) Part II [Market for Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=20&type=section&id=Item%205.%20Market%20for%20Common%20Equity%2C%20Related%20stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's common stock trades on Nasdaq under 'PKBK', paid **$0.16** quarterly dividends in 2021, and made no common stock repurchases - The company's common stock is listed on the **Nasdaq Capital Market** under the trading symbol **'PKBK'**[123](index=123&type=chunk) - A quarterly cash dividend of **$0.16** per common share was paid in each quarter of 2021, totaling **$7.6 million** for the year[124](index=124&type=chunk) - There were **no repurchases** of the Company's Common Stock during the twelve months ended December 31, 2021[132](index=132&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=21&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Net income increased **43.4%** to **$40.7 million** in 2021, driven by higher net interest income, lower loan loss provision, and increased non-interest income - The increase in net income was primarily driven by **lower interest expense** on deposits, a **lower provision for loan losses**, and **higher fee income**[137](index=137&type=chunk) Key Performance Indicators (2021 vs 2020) | Metric | 2021 (Millions) | 2020 (Millions) | % Change | | :--- | :--- | :--- | :--- | | Net Income (to common) | $40.7 | $28.4 | +43.4% | | Diluted EPS | $3.36 | $2.37 | +41.8% | | Net Interest Income | $69.1 | $62.6 | +10.3% | | Provision for Loan Losses | $0.5 | $7.6 | -93.4% | | Non-interest Income | $8.8 | $4.2 | +110.0% | | Non-interest Expense | $22.5 | $20.3 | +10.8% | [Results of Operations](index=22&type=section&id=Results%20of%20Operations) Net interest income increased to **$69.1 million** in 2021 due to reduced interest expense, while non-interest income doubled to **$8.8 million**, largely from cannabis business fees - Net interest income increased by **$6.5 million (10.3%)** primarily due to an **$8.9 million (40.8%)** decrease in interest expense, which offset a **$2.5 million** decrease in interest income[140](index=140&type=chunk) - Service fees on deposit accounts from the medical-use cannabis industry totaled **$5.1 million** in 2021, up from **$2.2 million** in 2020, accounting for the majority of the growth in non-interest income[150](index=150&type=chunk) - Professional services expense increased by **$1.7 million (87.4%)** as a result of consent order remediation efforts surrounding **BSA operations**[152](index=152&type=chunk) [Financial Condition](index=25&type=section&id=Financial%20Condition) Total assets grew **2.8%** to **$2.14 billion** in 2021, with cash increasing by **$138.0 million**, deposits by **$176.0 million**, and borrowings decreasing by **$146.3 million** - The decrease in the loan portfolio was primarily due to a **$63.4 million** reduction in **Paycheck Protection Program (PPP) loans**[154](index=154&type=chunk) Balance Sheet Changes (Dec 31, 2021 vs Dec 31, 2020) | Account | 2021 Balance (Millions) | 2020 Balance (Millions) | Change (Millions) | | :--- | :--- | :--- | :--- | | Cash and cash equivalents | $596.6 | $458.6 | +$138.0 | | Loans, net | $1,484.8 | $1,565.8 | -$81.0 | | Total Deposits | $1,768.4 | $1,592.4 | +$176.0 | | Total Borrowings | $120.9 | $267.2 | -$146.3 | | Total Equity | $232.4 | $202.6 | +$29.8 | [Liquidity and Capital Resources](index=28&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintained strong liquidity with **$596.6 million** cash and a **$596.5 million** FHLBNY credit line, remaining "well-capitalized" under regulatory standards - The company has a **$596.5 million** line of credit from the FHLBNY, with **$478.3 million** available at December 31, 2021[169](index=169&type=chunk) - The Company and the Bank exceeded all applicable regulatory capital requirements and were considered **'well-capitalized'** as of December 31, 2021[172](index=172&type=chunk) [Financial Statements and Supplementary Data](index=33&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents effective internal controls, an unqualified auditor's opinion, and consolidated financial statements with notes on loan quality, regulatory capital, and cannabis business impact - Management concluded that the company's **internal control over financial reporting was effective** as of December 31, 2021[209](index=209&type=chunk) - The independent auditor, RSM US LLP, issued an **unqualified opinion** on the financial statements[212](index=212&type=chunk) - The auditor identified the **qualitative factor portion of the general reserve component of the allowance for loan losses** as a **critical audit matter** due to the significant judgment and subjectivity involved[222](index=222&type=chunk) [Consolidated Financial Statements](index=36&type=section&id=Consolidated%20Financial%20Statements) Consolidated financial statements show a **43.4%** increase in net income, **2.8%** growth in total assets, and **15.6%** increase in total equity for 2021 Consolidated Income Statement Highlights (in thousands) | Line Item | 2021 (Thousands) | 2020 (Thousands) | | :--- | :--- | :--- | | Net Interest Income | $69,116 | $62,645 | | Provision for loan losses | $500 | $7,646 | | Non-interest Income | $8,799 | $4,183 | | Non-interest Expense | $22,503 | $20,296 | | Net Income Attributable to Company | $40,760 | $28,428 | Consolidated Balance Sheet Highlights (in thousands) | Line Item | Dec 31, 2021 (Thousands) | Dec 31, 2020 (Thousands) | | :--- | :--- | :--- | | Total Assets | $2,136,445 | $2,078,322 | | Net Loans | $1,455,002 | $1,536,109 | | Total Deposits | $1,768,410 | $1,592,443 | | Total Equity | $232,361 | $202,597 | [Notes to Financial Statements](index=41&type=section&id=Notes%20to%20Financial%20Statements) Notes detail loan portfolio quality, confirm the Bank's "well capitalized" status with a **12.82%** CBLR, and highlight the cannabis industry's significant financial contribution - The Bank elected to use the **Community Bank Leverage Ratio (CBLR) framework** and reported a ratio of **12.82%** as of December 31, 2021, well above the **8.5%** minimum requirement for that period[348](index=348&type=chunk)[351](index=351&type=chunk) - Total impaired loans decreased from **$22.7 million** at year-end 2020 to **$10.3 million** at year-end 2021, with a related allowance for these specific loans of **$0.6 million**[293](index=293&type=chunk)[294](index=294&type=chunk) - The company's joint venture, Parke Direct Lending LLC (PDL), was **fully liquidated** in 2021, and all earnings were distributed[234](index=234&type=chunk)[337](index=337&type=chunk) [Controls and Procedures](index=72&type=section&id=Item%209A.%20Controls%20and%20Procedures) Executive officers concluded disclosure controls and internal controls were effective as of December 31, 2021, with no material changes reported in Q4 - The CEO and CFO concluded that the Company's **effective disclosure controls and procedures** were effective as of the end of the period[387](index=387&type=chunk) - There were **no material changes in internal control over financial reporting** during the last quarter that materially affected, or are reasonably likely to materially affect, the company's internal controls[390](index=390&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=73&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information on directors, executive officers, and corporate governance is incorporated by reference from the 2022 Proxy Statement - This section **incorporates information by reference** from the Proxy Statement for the 2022 Annual Meeting of Stockholders[394](index=394&type=chunk) [Executive Compensation](index=73&type=section&id=Item%2011.%20Executive%20Compensation) Executive and director compensation information is incorporated by reference from the 2022 Proxy Statement - This section **incorporates information by reference** from the Proxy Statement for the 2022 Annual Meeting of Stockholders[397](index=397&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=73&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Security ownership information is incorporated by reference from the 2022 Proxy Statement, with **532,461** options outstanding at a **$13.34** weighted-average exercise price Equity Compensation Plan Information as of Dec 31, 2021 | Plan Category | Securities to be Issued Upon Exercise (Count) | Weighted-Average Exercise Price ($) | Securities Remaining for Future Issuance (Count) | | :--- | :--- | :--- | :--- | | Approved by security holders | 532,461 | $13.34 | 933,333 | | Not approved by security holders | None | N/A | N/A | | **Total** | **532,461** | **$13.34** | **933,333** | [Certain Relationships and Related Transactions, and Director Independence](index=74&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Related party transactions and director independence information is incorporated by reference from the 2022 Proxy Statement - This section **incorporates information by reference** from the Proxy Statement for the 2022 Annual Meeting of Stockholders[402](index=402&type=chunk) [Principal Accountant Fees and Services](index=74&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) Principal accountant fees and services information is incorporated by reference from the 2022 Proxy Statement - This section **incorporates information by reference** from the Proxy Statement for the 2022 Annual Meeting of Stockholders[403](index=403&type=chunk) Part IV [Exhibits and Financial Statement Schedules](index=74&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists all financial statements, schedules, and exhibits filed with the Form 10-K, including corporate documents and certifications - Lists **all financial statements, schedules, and exhibits** filed with the report, including **consent orders** with the FDIC and NJDOBI, and various corporate governance and compensation documents[405](index=405&type=chunk)[406](index=406&type=chunk) [Form 10-K Summary](index=76&type=section&id=Item%2016.%20Form%2010-K%20Summary) This section is not applicable - This item is **not applicable**[411](index=411&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q For the quarterly period ended: September 30, 2021 or [☐] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File No. 000-51338 PARKE BANCORP, INC. (Exact name of registrant as specified in its charter) [☒] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 New Jersey 65-1241959 (Sta ...

[☐] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File No. 000-51338 PARKE BANCORP, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q [☒] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2021 or (Exact name of registrant as specified in its charter) New Jersey 65-1241959 (State or ...

Financial Performance - Net income available to common shareholders for Q1 2021 increased by $2.2 million, or 30.8%, to $9.4 million compared to $7.2 million in Q1 2020[131] - Earnings per share for Q1 2021 were $0.79 per basic common share and $0.78 per diluted common share, up from $0.61 and $0.60 respectively in Q1 2020[131] - Net interest income for Q1 2021 increased by $1.6 million, or 10.6%, to $16.8 million compared to $15.2 million in Q1 2020[132] - Non-interest income for Q1 2021 was $2.2 million, an increase of $1.2 million compared to $1.0 million in Q1 2020[134] - Non-interest expense increased by $0.9 million to $5.8 million in Q1 2021 from $4.9 million in Q1 2020[135] - Income tax expense for Q1 2021 was $3.2 million on income before taxes of $12.8 million, resulting in an effective tax rate of 25.4%[136] - Cash provided by operating activities was $11.1 million for the three months ended March 31, 2021, compared to $9.4 million for the same period in the prior year[189] - Cash provided by financing activities was $13.2 million for the three months ended March 31, 2021, down from $127.8 million in the same period last year[191] Assets and Liabilities - Total assets as of March 31, 2021, were $2.10 billion, with total equity of $209.9 million[125] - Total assets increased to $2.10 billion, up $24.8 million or 1.2% from December 31, 2020[142] - Total liabilities rose to $1.89 billion, an increase of $17.5 million or 0.9% from $1.88 billion at December 31, 2020[143] - Total deposits increased by $138.3 million or 8.7% to $1.73 billion at March 31, 2021, compared to $1.59 billion at December 31, 2020[143] - Cash and cash equivalents increased by $45.8 million or 10.0% to $504.4 million at March 31, 2021[145] - Total equity rose to $209.9 million, an increase of $7.3 million or 3.6% from December 31, 2020[159] - Total borrowings decreased by $123.0 million to $144.2 million at March 31, 2021, primarily due to repayments of advances from the Federal Reserve[158] Loan Performance - Provision for loan losses decreased by $0.9 million to $0.5 million in Q1 2021, down from $1.4 million in Q1 2020[133] - As of March 31, 2021, the allowance for loan losses was $30.2 million, an increase from $29.7 million at December 31, 2020, with a ratio of 1.95% to total loans[170] - Delinquent loans totaled $7.6 million, or 0.5% of total loans at March 31, 2021, a decrease of $3.9 million from December 31, 2020[176] - The company recorded a loan loss provision of $0.5 million during the three months ended March 31, 2021, compared to $1.4 million during the same period in 2020[171] - At March 31, 2021, loans delinquent 90 days or more and not accruing interest totaled $7.2 million, a decrease from $8.7 million at December 31, 2020[176] - The ratio of the allowance for loan losses to non-performing assets increased to 412.8% at March 31, 2021, compared to 334.9% at December 31, 2020[170] Capital and Regulatory Compliance - The Company and the Bank were both considered "well capitalized" as of March 31, 2021[194] - Tier 1 leverage ratio for the Company was 10.75% and for Parke Bank was 12.14% as of March 31, 2021[197] - The Company issued $30 million in subordinated notes in July 2020, structured to qualify as Tier 2 capital[198] - The Company has adopted the optional community bank leverage ratio framework effective January 1, 2020, simplifying capital requirements[195] Risk Factors - The company is exposed to risks related to the COVID-19 pandemic, which may impact demand for products and services, loan delinquencies, and overall financial performance[127] - The company participates in the SBA Paycheck Protection Program, which exposes it to potential litigation risks related to loan processing[129] Other Information - The company originated approximately $117.1 million of SBA PPP loans, with $93.4 million outstanding as of March 31, 2021[152] - Total investment securities decreased to $19.1 million, a decline of $2.0 million or 9.5% from December 31, 2020[146] - The investment securities portfolio classified as available for sale was $17.9 million at March 31, 2021[187] - Other Real Estate Owned (OREO) at March 31, 2021 was $0.1 million, down from $4.0 million at December 31, 2020[182] - The allowance for loan and lease losses is based on periodic evaluations and is subject to significant estimates and judgments[207] - There were no changes in the Company's internal control over financial reporting that materially affected its effectiveness during the last quarter[214]

Financial Performance - Net income available to common shareholders decreased by 4.8% to $28.4 million for 2020, down from $29.8 million in 2019[152] - Net interest income rose by 10.1% to $62.6 million in 2020, compared to $56.9 million in 2019, driven by loan portfolio growth[153] - Non-interest income increased by $344,000 to $4.2 million in 2020, primarily due to an increase in fee income from commercial deposit accounts[161] - Total non-interest expense rose by $2.3 million to $20.3 million in 2020, primarily due to increased compensation and benefits[163] - The effective income tax rate increased to 25.7% in 2020 from 24.4% in 2019[164] - Net interest income for the three months ended December 31, 2020, was $17.115 million, an increase from $15.440 million for the previous quarter, reflecting a growth of about 10.8%[212] - Net income for the three months ended December 31, 2020, was $8.132 million, up from $6.543 million in the previous quarter, representing an increase of about 24.3%[212] - Basic net income per common share for the three months ended December 31, 2020, was $0.69, compared to $0.55 for the previous quarter, marking an increase of approximately 25.5%[212] Asset and Liability Management - Total assets increased by 23.6% to $2.08 billion as of December 31, 2020, compared to the previous year[149] - Total liabilities rose by $374.0 million, or 24.9%, to $1.88 billion, driven mainly by an increase in total deposits, which grew by $253.2 million, or 18.9%, to $1.59 billion[166] - Total equity increased by $23.2 million to $202.6 million, reflecting a retention of earnings during the period[167] - Cash and cash equivalents surged by $267.0 million, or 139.3%, to $458.6 million, largely due to deposits from the medical-use cannabis businesses[170] - Loans, net of unearned income, increased to $1.57 billion, up from $1.42 billion, driven by the growth of the commercial loan portfolio related to the Paycheck Protection Program[172] - Total borrowings increased by $119.2 million to $267.2 million, primarily due to the Federal Reserve's Paycheck Protection Program Liquidity Facility[175] Loan Loss Provisions - Provision for loan losses increased to $7.6 million in 2020, up from $2.7 million in 2019, reflecting economic uncertainties related to COVID-19[158] - The allowance for loan losses rose by $7.9 million, or 36.2%, to $29.7 million, influenced by economic conditions related to the COVID-19 pandemic[173] - Provision for loan losses for the three months ended December 31, 2020, was $1.850 million, compared to $2.400 million in the prior quarter, showing a reduction of approximately 22.9%[212] - The allowance for loan and lease losses is based on periodic evaluations and is subject to significant estimates, which may change based on loan portfolio performance and economic conditions[204] Capital Position - The risk-based tier 1 capital ratio was 17.0% at December 31, 2020, indicating a strong capital position[149] - The ratio of rate-sensitive assets to rate-sensitive liabilities was 140.9% as of December 31, 2020, indicating a strong position in managing interest rate sensitivity[190] Market and Economic Conditions - The net interest margin decreased to 3.31% in 2020 from 3.75% in 2019, influenced by changes in interest rates and asset composition[155] - Total deposits from the medical-use cannabis industries increased to $259.4 million, up from $129.2 million, reflecting a significant growth in this sector[166] - The company maintains that off-balance sheet risk is not material to its financial condition or results of operations[195] - The fair value of available-for-sale securities is provided by independent third-party valuation services, ensuring accurate market-based measurements[207] - The implementation of the Current Expected Credit Loss (CECL) standard may require the company to increase its allowance for loan losses significantly after December 15, 2022[210] Commitments and Credit - The Company had unused loan commitments of $144.6 million at December 31, 2020, with expectations that many will expire without being drawn upon[182] - As of December 31, 2020, unused commitments to extend credit amounted to approximately $144.6 million, down from $205.1 million as of December 31, 2019, representing a decrease of about 29.4%[195] - Standby letters of credit with customers decreased to $1.7 million at December 31, 2020, from $20.8 million at December 31, 2019, indicating a decline of approximately 91.8%[196]