Parke Bancorp(PKBK) - 2025 Q4 - Annual Results

Financial Performance - Net income available to common shareholders for Q4 2025 was $11.1 million, a 49.9% increase from $7.4 million in Q4 2024[2] - Revenue for Q4 2025 reached $38.2 million, up 2.3% from Q3 2025[1] - Net interest income for the fiscal year 2025 was $76.5 million, a 30.2% increase from $58.7 million in 2024[7] - Net income attributable to the Company for the twelve months ended December 31, 2025, was $37.8 million, up 37.4% from $27.5 million in 2024[17] - Earnings per common share for the twelve months ended December 31, 2025, was $3.20, up from $2.30 in 2024, reflecting a growth of 39.1%[17] Asset and Loan Growth - Total assets increased to $2.25 billion, a 5.0% rise from $2.14 billion at the end of 2024[10] - Total loans grew to $2.04 billion, an 8.9% increase from $1.87 billion at the end of 2024[10] - Net loans rose to $2,000.6 million at December 31, 2025, compared to $1,835.6 million at December 31, 2024, reflecting a growth of 9.0%[16] - Total deposits rose to $1.80 billion, a 7.8% increase from $1.63 billion at the end of 2024[10] Credit Quality - Provision for credit losses increased to $2.5 million for the fiscal year 2025, up from $0.7 million in 2024[7] - Nonperforming loans decreased to $10.8 million, representing 0.53% of total loans, down from 0.62% in 2024[10] - Non-accrual loans decreased to $10.8 million as of December 31, 2025, from $11.8 million in 2024, showing an improvement in asset quality[19] - The allowance for credit losses increased to $34.6 million as of December 31, 2025, from $32.6 million in 2024, with the allowance to total loans ratio at 1.70%[19] Operational Efficiency - The efficiency ratio decreased to 33.39% for the three months ended December 31, 2025, down from 40.88% in 2024, indicating improved operational efficiency[18] - Return on average assets improved to 2.04% for the three months ended December 31, 2025, compared to 1.41% in 2024[18] Tax and Equity - The effective tax rate for the year ended December 31, 2025, was 23.5%, compared to 24.2% for the same period in 2024[9] - Total equity increased to $324.5 million at December 31, 2025, up from $300.1 million at December 31, 2024, representing an increase of $24.4 million or 8.1%[14] - Total borrowings decreased by $44.9 million to $143.4 million as of December 31, 2025, from $188.3 million at December 31, 2024[14] Non-Interest Income - Non-interest income decreased to $3.4 million for the fiscal year 2025, a 20.8% decline from $4.3 million in 2024[7]