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Overview / Commentary
856-256-2500
601 Delsea Drive
Sewell, NJ 08080

Parke Bank is headquartered in Sewell and is the 31st largest bank in the state of New Jersey. It is also the 857th largest bank in the nation. It was established in 1999 and as of March of 2014, it had grown to 69 employees at 6 locations. Parke Bank has a B health rating.

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Reviews (1)

I Have Been A Customer For 6 Years As A Borrower And Depositor - Excellent Bank

I have been with Parke Bank for six years.  They are fabulous to deal with as a business owner.  They call if there is an issue (like a check coming through with insuffient funds) so I can resolve it without incurring fees, they stay open late to wait for me if I am running over, they bend over backwards for customer service and when the recession hit and I had multiple projects with the bank as lender they stood behind me to help see the projects to completion.  Vito Pantileone who is the CEO is a man of his word and combines common sense and banking (a miracle in this age) and is an old fashioned - handshake is his word - kind of guy.  I may not get the cheapest rates but they are a bank that is reliable, has outstanding customer service and who I cannot recommend highly enough.



Health

Data for Q1 2014

Institution Health

B

Texas Ratio

GRADE:
C

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Parke Bank had $61.86 million in non-current loans and owned real-estate with $127.88 million in equity and loan loss allowances on hand to cover it. This gives Parke Bank a Texas Ratio of 48.37% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Parke Bank decreased slightly from 60.23% as of March 31, 2013 to 48.37% as of March 31, 2014, resulting in a positive change of 19.68%.This indicates that the balance sheet and financial strength for Parke Bank has improved slightly in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Parke Bank has increased its total deposits by $10.26 million, resulting in 1.64% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Parke Bank has shown is above average.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Parke Bank has $799.63 million in assets with $127.88 million in equity, resulting in a capitalization level of 15.99%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #34888
Year Established1999
Employees69
Primary RegulatorFDIC
Assets and Liabilities
Assets$799.63 million
Loans$648.70 million
Deposits$634.22 million
Equity Capital$108.44 million
Loan Loss Allowance$19.44 million
Unbacked Noncurrent Loans$32.70 million
Real Estate Owned$29.16 million
Historic Data - March 2013
Assets$756.69 million
Equity Capital$98.57 million
Loan Loss Allowance$19.86 million
Unbacked Noncurrent Loans$32.70 million
Real Estate Owned$25.40 million
Profit Margin - Quarterly
Net Interest Margin4.54%
Return on Assets1.2%
Return on Equity8.91%
Interest Income$9.61 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Parke Bank, we are a rate comparison website and can not provide official rates or promotions.

Parke Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.50%$100-Passbook Savings
0.50%$100-Statement Savings
0.50%--Holiday Club
0.50%$500-Business Statement Savings

Parke Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.40%$2,500-Money Market
0.40%$10k-Business Money Market

Parke Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.50%$50k-Platinum Now
0.40%--Parke 55 Plus
0.35%$1k-NOW

Parke Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.60%$500-60 Month CD
1.40%$500-48 Month CD
1.25%$500-36 Month CD
1.00%$500-13 Month CD
0.95%$500-24 Month CD
0.60%$500-12 Month CD
0.45%$500-6 Month CD

Parke Bank IRA Rates

DetailsAPYMINMAXPRODUCT
1.60%$500-60 Month IRA
1.40%$500-48 Month IRA
1.25%$500-36 Month IRA
1.00%$500-13 Month IRA
0.95%$500-24 Month IRA
0.60%$500-12 Month IRA
0.45%$500-6 Month IRA
Locations


Parke Bank Locations
Spruce Street Branch1610 Spruce StreetPhiladelphia, PA 19103
Northfield Office Branch501 Tilton RoadNorthfield, NJ 8225
Washington Township Branch567 Egg Harbor Road At Hurffville Cross Keys RoadSewell, NJ 8080
Parke Bank601 Delsea DriveSewell, NJ 8080
Galloway Branch67 E Jimmie Leeds RdGalloway, NJ 8205