- Parke Bancorp is a small bank in New Jersey, mainly focusing on a residential real estate heavy loan book.
- The total amount of loans past due increased substantially in Q1, but this is related to a CRE loan and there shouldn't be heavy losses.
- The bank didn't record any additional loan loss provisions further boosting the EPS to $0.85 in Q1.
- Trading at less than 8X earnings and at just 1.1X TBV, Parke Bancorp is getting very interesting from both a value and income perspective.
For further details see:
Parke Bancorp: Offering A 3% Dividend Yield With A 20% Payout Ratio