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B PARKE BANCORPINC Parke Bancorp , Inc. 601 Delsea Drive , Washington Township , NJ 08080 Contact : Vito S. Pantilione , President and CEO John S. Kaufman , Senior Vice President and CFO ( 856 ) 256-2500 PARKE BANCORP , INC . ANNOUNCES THIRD QUARTER EARNINGS Highlights : Net Income : Revenue : Total Assets : Total Loans : Total Deposits : $ 10.5 million $ 22.8 million for Q3 2021 $ 2.16 billion , increased 3.7 % over December 31 , 2020 $ 1.47 billion , decreased 5.9 % over December 31 , 2020 $ 1.78 billion , increased 11.9 % over December 31 , 2020 WASHINGTON TOWNSHIP , NJ , October 20 , 2021 - Parke Bancorp , Inc. ( “ Parke Bancorp " or the " Company " ) ( NASDAQ : " PKBK " ) , the parent company of Parke Bank , announced its operating results for the quarter ended September 30 , 2021 . • • • Highlights for the three and nine months ended September 30 , 2021 : • Net income available to common shareholders was $ 10.5 million , or $ 0.88 per basic common share and $ 0.87 per diluted common share , for the three months ended September 30 , 2021 , an increase of $ 4.0 million , or 60.6 % , compared to net income available to common shareholders of $ 6.5 million , or $ 0.55 per basic common share and $ 0.55 per diluted common share , for the same quarter in 2020. The increase is primarily driven by an increase in net interest income , reduced loan loss provision , and higher non - interest income , partially offset by higher non - interest expense . Net interest income increased 13.2 % to $ 17.5 million for the three months ended September 30 , 2021 , compared to $ 15.4 million for the same period in 2020 . Net income available to common shareholders was $ 30.7 million , or $ 2.58 per basic common share and $ 2.53 per diluted common share , for the nine months ended September 30 , 2021 , an increase of $ 10.4 million , or 51.3 % , compared to net income available to common shareholders of $ 20.3 million , or $ 1.71 per basic common share and $ 1.69 per diluted common share , for the same period in 2020. The increase is primarily driven by an increase in net interest income , reduced loan loss provision , and higher non - interest income , partially offset by higher non - interest expense . Net interest income increased 15.0 % to $ 52.4 million for the nine months ended September 30 , 2021 , compared to $ 45.5 million for the same period in 2020 .