Parke Bank

What Parke Bank does

Parke Bancorp, Inc. (NASDAQ: PKBK) is the holding company for Parke Bank, a full-service community bank founded in January 1999 by Vito S. Pantilione and headquartered in Washington Township (Sewell), New Jersey. The bank operates seven full-service branches across Southern New Jersey and Philadelphia, serving individual consumers, small-to-mid-sized businesses, and selected specialized verticals. As of Q2 2026, total assets stood at $2.30 billion, total loans at $2.04 billion (year-end 2025), and total deposits at $1.76 billion (year-end 2025).

The bank offers a unified product portfolio spanning personal banking (high-yield checking up to 5% APY, savings up to 3.50% APY, money market, residential mortgages, credit cards) and business banking (complimentary checking, commercial loans, Remote Deposit Xpress, Positive Pay fraud prevention). A signature differentiator is its cannabis banking vertical, in which Parke has operated since 2015 as one of the first U.S. financial institutions to serve the federally restricted sector. Customer-facing technology includes iOS/Android mobile apps with CardValet card management, Zelle, Apple Pay, and 24/7 online account opening, while back-office initiatives include an AI-based BSA compliance program disclosed at the 2025 AGM.

Revenue is generated primarily through net interest income (NIM expanded to 4.17% in Q2 2026 from 3.32% a year earlier) supplemented by banking fees, service charges, and specialized commercial relationships such as the Lukoil North America fuel station banking arrangement alongside OceanFirst Bank. The go-to-market is direct-to-consumer and direct-to-SMB through the branch network and digital channels. In 2025, net income reached $37.8 million (up 37.3% YoY), and H1 2026 net income reached $24.1 million (up 50% YoY). The bank is recognized by Bank Director Magazine and Piper Sandler as a top-performing community bank and trades at a market capitalization of approximately $404.5 million as of August 2026.

Name

Parke Bank

Legal name

Parke Bancorp, Inc.

Website

https://parkebank.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

51–100 employees

Short description

Parke Bancorp, Inc. (NASDAQ: PKBK) is a New Jersey-based community bank holding company operating seven full-service branches across Southern New Jersey and Philadelphia, serving consumers, small-to-mid-sized businesses, cannabis operators, and selected specialized commercial clients with a full personal and business banking product suite.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Commercial Banking (522110), Offices of Bank Holding Companies (551111)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB), Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

Keywords

• Community banking
• Commercial lending
• Cannabis banking
• Small business lending
• Retail deposit products

Headquarters

HQ city

Sewell

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Net Interest Income: Primary revenue driver from interest earned on loans (commercial and retail) minus interest paid on deposits. Net interest margin improved to 4.17% from 3.32% year-over-year.
2. Banking Fees and Service Charges: Fees from checking accounts, savings accounts, wire transfers, and other banking services
3. Cannabis Banking Services: Specialized banking services for cannabis-related businesses, an emerging revenue stream for the bank

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Parke Bank is a full-service community commercial bank offering personal and business banking services through seven branches in South Jersey and Philadelphia, plus digital channels. Core offerings include high-yield personal checking and savings, residential mortgages, business checking and savings, commercial loans, and specialized cannabis banking services. The bank, founded in 1999 and traded on NASDAQ as PKBK, also provides mobile banking, credit cards, and Visa gift cards.

Product overview

Parke Bank is a full-service commercial bank offering a unified portfolio of personal and business banking products. Personal banking centers on reward-focused checking (Parke Exclusive Checking at 5% APY, Parke Cashback Advantage with 5% cashback), savings (Parke Exclusive Savings at 3.50% APY), and money market accounts (Parke Select with tiered rates up to 3.75% APY), complemented by residential mortgages, credit cards, and premium services like Card Valet. Business banking includes complimentary business checking, business savings, commercial loans, and specialized cannabis banking services, where Parke Bank is an industry pioneer since 2015. All segments access digital banking through the Parke Bank Mobile App and online banking with mobile deposits, fund transfers, Remote Deposit Xpress, and Positive Pay fraud protection.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Accounts Personal checking account options including Parke Exclusive Checking (5% APY on balances up to $25,000) and Parke Cashback Advantage (5% cashback on purchases up to $15 monthly) for individual consumers.
• Personal Savings Accounts Savings accounts including Parke Exclusive Savings earning 3.50% APY on balances up to $100,000 with qualifying checking account.
• Money Market Accounts Parke Select Personal or Business Money Market with tiered APYs: 3.44% on balances up to $49,999.99 and 3.68% on balances of $50,000 or greater, with up to 3.75% APY for qualifying checking customers.
• Residential Mortgages Home mortgage lending for purchasing or refinancing residential properties, including the Special Purpose Credit Program offering 3% down in approved Philadelphia census tracts and up to $10,000 in first-time buyer assistance.
• Credit Cards Credit card products issued in partnership with Pathward, N.A. for the Visa network with fraud protection.
• Debit Cards Personal and business debit cards with contactless tap-and-go, fraud alerts, real-time monitoring, and control via the mobile app.
• Business Checking Accounts Business checking options including complimentary accounts with no minimum balance and zero maintenance fees, targeted at small to mid-sized businesses.
• Business Savings Accounts Business savings options for depositing and growing business funds.
• Commercial Loan Products Business lending products to fund operations and growth, including SBA lending, commercial real estate financing, and construction financing.
• Cannabis Banking Specialized banking services for cannabis-related businesses including dispensaries, cultivators, wholesalers, and testing labs, providing cash management, capital access, and compliant account services.
• Parke Bank Mobile App and Online Banking Mobile banking applications for iOS and Android plus online banking platform offering account management, mobile deposits, bill pay, transfers, Card Valet, Zelle, Apple Pay, and real-time transaction monitoring.
• Business Online Banking Digital platform for businesses with ACH, wire transfers, Positive Pay fraud prevention, business debit cards, night drop deposit access, and Remote Deposit Xpress.
• Parke Bank Visa Gift Card Prepaid Visa gift cards loadable from $10 to $1,000 with a $5 one-time purchase fee, accepted everywhere Visa debit is accepted in the U.S., issued by Pathward, N.A.
• Premium Banking Services Enhanced services including Card Valet for debit card control, security features, and account management for personal customers.

Quantifiable outcome

• Net interest margin improved to 4.17% from 3.32% year-over-year
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability1 record

Feature3 records

Partnerships

One partnership is on record.

• CuraleafcoreTechnology or Integration · 1 January 2015Major cannabis dispensary operator maintaining three South Jersey locations with banking relationship at Parke Bank for approximately four years. Parke Bank provides cash management, capital access, and flexible banking services to support their dispensary operations, with same-day cashier's check services and quick account setup.

Scale indicators13 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• OceanFirst Bank: New Jersey-headquartered community bank of comparable size (~$14B assets) serving similar South Jersey / Philadelphia geography and small-to-mid-sized business segments; co-partner with Parke on the Lukoil engagement, making it the closest operational peer.
• Univest Financial Corporation: Pennsylvania-based community bank holding company of comparable asset size (~$7B) with similar commercial lending, mortgage, and retail banking product mix serving the greater Philadelphia region, directly overlapping Parke's market.
• Kearny Financial: New Jersey-headquartered community savings bank of comparable asset size (~$7B) with similar retail deposit and mortgage lending focus operating in the same NJ/regional geography.
• Lakeland Bancorp: New Jersey community bank holding company with similar asset size (~$10B) and comparable commercial/retail banking focus in overlapping Northern/Central NJ markets; comparable business model and customer base.
• ACNB Corporation: Mid-Atlantic community bank holding company of similar asset size (~$2.5B) operating in Pennsylvania/Maryland with similar community banking model, loan/deposit products, and shareholder return profile.
• 1st Constitution Bancorp: NJ-based community bank holding company with similar asset size (~$2.5B) operating in overlapping New Jersey markets with comparable commercial lending and deposit-gathering focus; closest asset-tier direct comparable.
• S&T Bancorp: Pennsylvania-based community bank holding company of similar asset size (~$3B) operating in western PA and contiguous markets with comparable commercial, retail, and small business banking offerings.
• Tompkins Financial Corporation: Northeast-focused community bank holding company (~$7B assets) with comparable business banking, retail deposit, and commercial lending focus; similar model of operating profitable community bank franchises in defined regional footprints.

Broad incumbents

• Customers Bancorp: Pennsylvania-headquartered commercial bank with broader national commercial and digital banking franchise; comparable in commercial lending and specialty banking segments though larger and more diversified than Parke.

Emerging players

• Safe Harbor Financial: Specialty financial institution focused exclusively on cannabis banking and compliant financial services for the cannabis industry; the most direct niche-specialist comparable to Parke's cannabis banking franchise.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookweb.facebook.com/ParkeBank
• LinkedInlinkedin.com/company/parke-bank
• Instagraminstagram.com/parkebank
• Xx.com/ParkeBank

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Parke Bank