The business operates in New Jersey and in Pennsylvania. The main office of the company is located in Washington Township, New Jersey. Parke Bank offers a wide range of financial services that are uniquely tailored to the needs of their customers, businesses and institutional partners. The retail banking services of the company are focused on deposit and checking accounts. Additionally, the business offers other products and services that are geared towards creating a better and easier banking experience to their customers.
As of December 2014, the company’s deposit is estimated to be around $647.9 million. This amount is the source of funds of Parke Bank to continue its lending activities. Additionally, they have ties with the Promontory Interfinancial Network. Parke Bancorp is also a member of the Federal Home Loan Banks, which allows the company to borrow funds for a short period of time. The lending activities of the company are limited to approximately $19.9 million per borrower. The consumer loans offered by the company are secured by personal property, automobiles and residential real estate. By the end of 2014, the company has declared their total loans to about $713 million.
Parke Bank conducts its trade in the counties of Atlantic, Cape May and Gloucester, Pennsylvania. The deposits in the bank are insured by the Federal Deposit Insurance Corporation (FDIC). Parke Bancorp, Inc. remains publicly traded on the NASDAQ Capital Market and continues to trade its common shares using the symbol PKBK.