Parke Bank

Headquarters

601 Delsea Dr
Sewell, NJ 08080
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 4.01% →
1-Year CD 0.75% 4.50% →
2-Year CD N.A. 4.73% →
5-Year CD N.A. 4.75% →
30-Year Mortgage 9.88% 4.91% →
15-Year Mortgage 9.38% 4.39% →
HELOC 5.25% 1.93% →

2022 Overview

General Bank Information

Parke Bank is an FDIC insured institution located in Sewell, NJ. It was founded in 1999 and has approximately $1.99 billion in assets. Customers can open an account at one of its 8 branches.

FDIC Insured Yes
FDIC Certificate # 34888
Date Established 1999
Assets $ 1,989.98 million
Loans $ 1,517.69 million
Deposits $ 1,609.68 million
Capital $ 291.01 million
 

For a more detailed analysis of Parke Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - December 1, 2022

Your Current Location: Virginia, VA 20146

CD Rates APY MIN MAX
1-Year CD
0.75% $500 - Learn More
36 Month CD
1.01% $500 - Learn More
48 Month CD
1.05% $500 - Learn More

 

Loan Rates - December 1, 2022

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment
Auto Loan Rates APR Rate Monthly Payment
3 Year 6.75% 6.75% $769.07
4 Year 7.00% 7.00% $598.66
5 Year 7.25% 7.25% $497.98
Refinance Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

Parke Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Parke Bank Locations



Climate Initiatives

Parke Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

Financial Details

Parke Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Parke Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Parke Bank U.S. Bank Average
1.2% 4.06%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of June 30, 2022, Parke Bank had $3,871,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $291,007,000 in equity and $30,448,000 in loans loss reserves. That gives it a Texas Ratio of 1.2%.

Return on Equity
Parke Bank U.S. Bank Average
15.7% 9.98%

Parke Bank has a Return on Equity of 15.7% versus the BestCashCow average of 9.98%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Parke Bank U.S. Bank Average
14.62% 10.23%

Parke Bank has a Capitalization of 14.62% versus the BestCashCow average of 10.23. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Parke Bank Balance Sheet Analysis

As of June 30, 2022, Parke Bank had assets of $1,989,981,000, loans of $1,517,685,000, and deposits of $1,609,683,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

June 30, 2022
ASSETS
Cash & Balances due from depository institutions $ 393.24 million
Interest-bearing balances $ 359.60 million
Total securities $ 20.64 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 1,517.69 million
Loan loss allowance $ 30.45 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 52.33 million
     Total Assets $ 1,698.97 million
LIABILITIES
Total deposits $ 1,609.68 million
      Interest-bearing deposits $ 1,153.01 million
      Deposits held in domestic offices $ 1,609.68 million
      % insured (estimated) 56.20%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 78.15 million
Subordinated debt N.A.
All other liabilities $ 11.14 million
      Total Liabilities $ 1,698.97 million
      Shareholders’ Equity $ 291.01 million

Summary Income Statement

June 30, 2022
INCOME AND EXPENSES
Total Interest Income $ 40.14 million
Total Interest Expense $ 3.86 million
Net interest income $ 36.28 million
Provision for loan and lease losses $ 0.35 million
Total non interest income $ 4.59 million
Total non interest expense $ 11.25 million
Pre-tax Net Operating Income $ 29.27 million

Bank Loan Profile?

The top three loan types in Parke Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Construction and Development Loans.

Compared to other banks, Parke Bank’s loan portfolio does not show any specific loan specialty.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 54.46
Multifamily
Mortgages
5.13
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 7.33
Construction and Development Loans 9.67
Commercial Real Estate 29.86
Commercial and Industrial Loans 2.35
Farm Loans 0.00

Customer Reviews for Parke Bank


  • November 9, 2020

    Online CDs 12 Month Rates

    Here's what you will need:
    To be a resident of New Jersey or select Eastern Pennsylvania counties (the zip code provided in your application will receive an error stating "Zip code is not valid for this application" in the event that your zip code is not in an approved area)

  • July 28, 2020

    Extremely unpleasant call to the bank about my loan. I spoke to loan department and the woman- who didn’t give her name - became frustrated and instantly became rude and unprofessional. This bank is stuck in the 90s - super inconvenient!

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