Shareholders reelected Vito S. Pantilione, Dr. Edward Infantolino, and Elizabeth A. Milavsky to three-year terms and ratified S.R. Snodgrass, P.C. as the independent auditor; the advisory vote on pay drew a plurality favoring annual votes.
The board approved a quarterly cash dividend increase to $0.20 per share, effective in the second quarter of 2026.
Parke delivered strong results: 2025 net income rose 37.3% to $37.8 million with assets up 5% to $2.25 billion and loans up 8.9%, and Q1 2026 net income increased 52.3% to $11.8 million alongside improved efficiency, ROA, and ROE.
Parke Bancorp (NASDAQ:PKBK) shareholders elected three directors, ratified the company’s independent auditor, and cast advisory votes on executive compensation during the company’s virtual annual meeting, chaired by Board Chairman Daniel J. Dalton.
Dalton said the company’s records showed 11,730,950 shares of common stock outstanding as of the March 11, 2026 record date. He also said a quorum was present online or by proxy.
Election of directors: Vito S. Pantilione, Dr. Edward Infantolino, and Elizabeth A. Milavsky, each for a three-year term expiring in 2029
Auditor ratification: S.R. Snodgrass, P.C. as independent auditor for the fiscal year ending Dec. 31, 2026
Say-on-pay: An advisory, non-binding vote on executive compensation
Say-on-pay frequency: Whether the advisory vote should occur every 1, 2, or 3 years
On the fourth proposal, Dalton said the board recommended holding the executive compensation advisory vote once every three years, citing both the time needed for shareholders “to properly assess the impact” of compensation changes and the cost of adding agenda items.
After votes were tallied, the Inspector of Elections reported that a quorum was in attendance for all purposes. The operator, reading the inspector’s report, said shareholders elected Pantilione, Infantolino, and Milavsky to new three-year terms expiring in 2029.
The report also stated that more than a majority of shares present voted to ratify S.R. Snodgrass, P.C. as independent auditor for 2026.
On the say-on-pay frequency proposal, the report said a plurality of votes favored holding advisory votes on executive compensation every year. (The meeting transcript did not include the numerical vote totals or explicitly state the outcome of proposal 3 beyond its description as an advisory vote.)
President and CEO Vito S. Pantilione told shareholders that 2025 was “a pretty good year” for Parke Bank, while noting ongoing challenges for the industry including margin pressure, deposit competition, cybersecurity risk, and regulatory burden. He said the bank was “in the process of installing an AI program to help streamline and expedite processing of BSA requirements,” adding that management was “cautiously optimistic” it would meet expectations and reduce costs while acknowledging risks associated with AI.
Pantilione also provided financial highlights for the fiscal year ended Dec. 31, 2025:
Total assets: up 5% to $2.25 billion
Loans: up 8.9% to $2.04 billion
Deposits: up 7.8% to $1.8 billion
Net income: up 37.3% to $37.8 million (from $27.5 million in 2024)
Earnings per share: $3.20 (common) and $3.16 (diluted)
Return on average assets: 1.77% (up from 1.38%)
Return on average common equity: 12.07% (up from 9.36%)
Efficiency ratio: 35.03% (improved from 41.24%)
Tier 1 leverage ratio: 15.61% as of Dec. 31, 2025, which Pantilione said reflected repayment of subordinated debt
Allowance for credit losses: 1.7% (vs. 1.74% in 2024)
Pantilione also discussed first-quarter 2026 results compared with the first quarter of 2025. He said total assets increased 3.3% to $2.21 billion, gross loans increased 8.3% to $2.04 billion, and deposits grew 1.9% to $1.7 billion, which he said reflected “fierce competition for deposits.”
For the first quarter of 2026, he reported:
Net income: up 52.3% to $11.8 million
Efficiency ratio: 31.39% (vs. 37.51% in the prior-year quarter)
Return on average assets: 1.90%
Return on average equity: 14.47%
Net interest margin: 4.17%
He said net income growth was “partially supported by the increased yield on our growing loan portfolio,” along with “continued tight control of expenses.”
Near the conclusion of his remarks, Pantilione said the board approved an increase in the quarterly cash dividend to $0.20 per share, effective in the second quarter of 2026. He noted the meeting received one question, which concerned cash dividends and had been addressed by that announcement.
The meeting was adjourned following acceptance of the Inspector of Elections’ report.
Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-oriented financial institution headquartered in Kittanning, Pennsylvania. The company delivers a full range of retail and commercial banking services to individuals, small businesses and agricultural clients through a network of branches and ATMs, supported by secure online and mobile banking platforms.
Its product lineup includes deposit accounts—such as checking, savings, money market accounts and certificates of deposit—alongside a variety of lending solutions.
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