Parke Bancorp, Inc. Declares $0.18 Cash Dividend for Shareholders in 2025

Parke Bancorp, Inc. Announces Cash Dividend

On December 18, 2024, Parke Bancorp, Inc. (NASDAQ: PKBK) revealed their decision to issue a cash dividend of $0.18 per share for its shareholders. This dividend is set to be payable on January 17, 2025, to those stockholders who are officially recorded as of the closing business date on January 3, 2025. This announcement comes as a reaffirmation of the company’s commitment to return value to its shareholders, emphasizing their strong financial foundation.

The Board of Directors indicated plans for regular cash dividends on a quarterly basis, although future payments will be contingent upon various factors that include the company’s financial health, the performance of Parke Bank, and compliance with applicable legal and regulatory restrictions. While the intent to continue these dividends exists, the Board has also made it clear that these distributions may be subject to change or suspension depending on the company’s economic situation going forward.

About Parke Bancorp, Inc.

Founded in January 2005, Parke Bancorp serves as the parent organization of Parke Bank, which has been operational since January 1999. Both entities are headquartered at 601 Delsea Drive in Washington Township, New Jersey. Parke Bank operates through several branch offices located throughout New Jersey, including sites in Northfield, Washington Township, Galloway Township, and Collingswood. They also serve customers from two branches in Philadelphia, Pennsylvania, one situated in the Center City area and another in Chinatown.

Parke Bank offers a broad range of financial solutions catered primarily to individual consumers and small businesses, focusing on communities across Gloucester, Atlantic, and Cape May Counties in New Jersey as well as surrounding regions in Philadelphia. Importantly, the bank's deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to legal limits, offering clients peace of mind regarding the safety of their funds.

Looking Ahead

Investors are advised to consider that the cash dividend announcement includes forward-looking statements that are accompanied by inherent risks and uncertainties, which may cause actual outcomes to deviate from anticipated results. Factors such as capital maintenance, ongoing dividend payments, and overall shareholder value enhancement are all subject to these variables. Banking regulators may impose additional limitations or actions that could further influence operations, necessitating cautious anticipation of future dividend declarations.

In summary, Parke Bancorp, Inc.'s announcement of the $0.18 cash dividend highlights their aim to reinforce shareholder relations through a strategic financial framework, reflecting both current stability and future potential in their banking operations. As the Board continues to evaluate these decisions, stakeholders remain optimistic about sustained dividends moving forward, all while navigating the evolving financial landscape.