Parke Bancorp (PKBK) 10-K 13 Mar 24 2023 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Mar. 11, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	000-51338
Entity Registrant Name	PARKE BANCORP, INC.
Entity Incorporation, State or Country Code	NJ
Entity Tax Identification Number	65-1241959
Entity Address, Address Line One	601 Delsea Drive
Entity Address, City or Town	Washington Township
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08080
City Area Code	856
Local Phone Number	256-2500
Title of 12(b) Security	Common Stock, $0.10 par value
Trading Symbol	PKBK
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 174.2
Entity Common Stock, Shares Outstanding (in shares)		11,958,321
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE 1. Portions of the Proxy Statement for the 2024 Annual Meeting of Shareholders. (Part III)
Entity Central Index Key	0001315399
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	S.R. Snodgrass, P.C.
Auditor Location	Cranberry Township, Pennsylvania
Auditor Firm ID	74

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Cash and due from banks	$ 12,716	$ 27,165
Interest earning deposits with banks	167,660	154,985
Cash and cash equivalents	180,376	182,150
Investment securities available for sale, at fair value	7,095	9,366
Investment securities held to maturity, net of allowance for credit losses of $0 at December 31, 2023 (fair value of $7,892 at December 31, 2023 and $7,805 at December 31, 2022)	9,292	9,378
Total investment securities	16,387	18,744
Loans, net of unearned income	1,787,340	1,751,459
Less: Allowance for credit losses	(32,131)	(31,845)
Net loans	1,755,209	1,719,614
Accrued interest receivable	8,555	8,768
Premises and equipment, net	5,579	5,958
Restricted stock	7,636	5,439
Bank owned life insurance (BOLI)	28,415	28,145
Deferred tax asset	9,262	9,184
Other real estate owned (OREO)	1,550	1,550
Other	10,531	5,363
Total Assets	2,023,500	1,984,915
Deposits
Noninterest-bearing deposits	232,189	352,546
Interest-bearing deposits	1,320,638	1,223,435
Total deposits	1,552,827	1,575,981
FHLBNY borrowings	125,000	83,150
Subordinated debentures	43,111	42,921
Accrued interest payable	4,146	2,664
Accrued expenses and other liabilities	14,099	14,165
Total liabilities	1,739,183	1,718,881
Shareholders' Equity
Preferred stock, 1,000,000 shares authorized, $1,000 liquidation value Series B non-cumulative convertible; 375 shares and 445 shares outstanding at December 31, 2023 and 2022, respectively	375	445
Common stock, $0.10 par value; authorized 15,000,000 shares; Issued: 12,240,821 shares and 12,225,097 shares at December 31, 2023 and 2022, respectively	1,224	1,223
Additional paid-in capital	136,700	136,201
Retained earnings	149,437	131,706
Accumulated other comprehensive loss	(404)	(526)
Treasury stock, 284,522 shares at December 31, 2023 and 2022, at cost	(3,015)	(3,015)
Total shareholders’ equity	284,317	266,034
Total liabilities and shareholders' equity	$ 2,023,500	$ 1,984,915

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Investment securities held to maturity, net of allowance for credit losses	$ 0
Investment securities held to maturity, fair value	$ 7,892	$ 7,805
Shareholders' Equity
Preferred stock, authorized (in shares)	1,000,000	1,000,000
Preferred stock, liquidation value per share (in dollars per share)	$ 1,000	$ 1,000
Preferred stock, shares outstanding (in shares)	375	445
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, authorized (in shares)	15,000,000	15,000,000
Common stock, issued (in shares)	12,240,821	12,225,097
Treasury stock, shares (in shares)	284,522	284,522

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Interest income:
Interest and fees on loans	$ 106,061	$ 82,900
Interest and dividends on investments	1,048	772
Interest on deposits with banks	5,595	3,811
Total interest income	112,704	87,483
Interest expense:
Interest on deposits	41,259	11,071
Interest on borrowings	7,231	3,085
Total interest expense	48,490	14,156
Net interest income	64,214	73,327
(Recovery of) provision for credit losses	(2,051)	1,800
Net interest income after (recovery of) provision for credit losses	66,265	71,527
Non-interest income
Service fees on deposit accounts	3,872	4,927
Other loan fees	851	1,379
Bank owned life insurance income	737	568
Gain on sale of SBA loans	0	98
Net gain on OREO	38	328
Other	1,194	1,082
Total non-interest income	6,692	8,382
Non-interest expense
Compensation and benefits	12,340	10,835
Professional services	2,328	2,249
Occupancy and equipment	2,604	2,522
Data processing	1,385	1,293
FDIC insurance and other assessments	1,292	1,050
OREO expense	839	493
Other operating expense	14,479	5,391
Total non-interest expense	35,267	23,833
Income before income tax expense	37,690	56,076
Income tax expense	9,228	14,253
Net income attributable to Company	28,462	41,823
Less: Preferred stock dividend	(26)	(27)
Net income available to common shareholders	$ 28,436	$ 41,796
Earnings per common share
Basic (in dollars per share)	$ 2.38	$ 3.51
Diluted (in dollars per share)	$ 2.35	$ 3.44
Weighted average common shares outstanding
Basic (in shares)	11,945,740	11,918,319
Diluted (in shares)	12,137,052	12,175,440

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 28,462	$ 41,823
Unrealized gains (losses) on investment securities, net of reclassification into income:
Unrealized gains (losses) on available for sale securities	165	(1,039)
Tax impact on unrealized (loss) gain	(43)	268
Total other comprehensive gain (loss)	122	(771)
Comprehensive income attributable to the Company	$ 28,584	$ 41,052

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Shares of Preferred Stock Outstanding, beginning balance (in shares) at Dec. 31, 2021			445,000
Balance at Dec. 31, 2021	$ 232,361		$ 445	$ 1,218	$ 135,451	$ 98,017		$ 245	$ (3,015)
Shares of Common Stock issued, beginning balance (in shares) at Dec. 31, 2021				12,182,081
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	41,823					41,823
Stock compensation issued/exercised (in shares)				43,016
Stock compensation issued/exercised	406			$ 5	401
Other comprehensive (loss) gain	(771)							(771)
Stock compensation expense	349				349
Dividend on preferred stock ($60.00 per share)	(27)					(27)
Dividend on common stock ($0.72 per share)	$ (8,107)					(8,107)
Shares of Preferred Stock Outstanding, ending balance (in shares) at Dec. 31, 2022	445		445,000
Balance at Dec. 31, 2022	$ 266,034	$ (2,102)	$ 445	$ 1,223	136,201	131,706	$ (2,102)	(526)	(3,015)
Shares of Common Stock issued, ending balance (in shares) at Dec. 31, 2022				12,225,097
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	Accounting Standards Update 2016-13
Net income	$ 28,462					28,462
Stock compensation issued/exercised (in shares)	3,782			6,096
Stock compensation issued/exercised	$ 33				33
Preferred stock shares conversion (in shares)			(70,000)	9,628
Preferred stock shares conversion	0		$ (70)	$ 1	69
Other comprehensive (loss) gain	122							122
Stock compensation expense	397				397
Dividend on preferred stock ($60.00 per share)	(26)					(26)
Dividend on common stock ($0.72 per share)	$ (8,603)					(8,603)
Shares of Preferred Stock Outstanding, ending balance (in shares) at Dec. 31, 2023	375		375,000
Balance at Dec. 31, 2023	$ 284,317		$ 375	$ 1,224	$ 136,700	$ 149,437		$ (404)	$ (3,015)
Shares of Common Stock issued, ending balance (in shares) at Dec. 31, 2023				12,240,821

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividend on preferred stock (in dollars per share)	$ 60	$ 60
Dividend on common stock (in dollars per share)	$ 0.72	$ 0.68

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash Flows from Operating Activities
Net income	$ 28,462	$ 41,823
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	464	646
(Recovery of) provision for credit losses	(2,051)	1,800
Increase in value of bank-owned life insurance	(736)	(568)
Gain on sale of SBA loans	0	(98)
SBA loans originated for sale	0	(1,723)
Proceeds from sale of SBA loans originated for sale	0	1,821
Net gain on OREO	(38)	(328)
Net accretion of purchase premiums and discounts on securities	(37)	(9)
Stock based compensation	397	349
Decrease (increase) in deferred income tax	595	(1,325)
Net changes in:
Increase in accrued interest receivable and other assets	(4,955)	(727)
Increase in accrued interest payable and other accrued liabilities	917	1,789
Net cash provided by operating activities	23,018	43,450
Cash Flows from Investing Activities
Repayments and maturities of investment securities available for sale	2,412	2,905
Repayments and maturities of investment securities held to maturity	147	590
Net increase in loans	(35,986)	(268,420)
Sales (purchases) of bank premises and equipment	105
Sales (purchases) of bank premises and equipment		(150)
Proceeds from sale of OREO, net	161	2,426
Proceeds from bank owned life insurance policy	466	0
Redemptions of restricted stock	10,819	912
Purchases of restricted stock	(13,016)	(1,207)
Net cash used in investing activities	(34,892)	(262,944)
Cash Flows from Financing Activities
Cash dividends	(8,629)	(7,886)
Proceeds from exercise of stock options	33	406
Net proceeds from issuance of subordinate debt	0	0
Earnings distribution from non-controlling interest	0	0
(Decrease) increase in FHLBNY short-term borrowings	(53,150)
(Decrease) increase in FHLBNY short-term borrowings		63,150
Increase (decrease) in FHLBNY long-term borrowings	95,000
Increase (decrease) in FHLBNY long-term borrowings		(58,150)
Net decrease in other borrowed funds	0	0
Net decrease in noninterest-bearing deposits	(120,357)	(201,264)
Net increase in interest-bearing deposits	97,203	8,835
Net cash provided by (used in) financing activities	10,100	(194,909)
Decrease in cash and cash equivalents	(1,774)	(414,403)
Cash and Cash Equivalents, January 1,	182,150	596,553
Cash and Cash Equivalents, December 31,	180,376	182,150
Supplemental Disclosure of Cash Flow Information:
Interest paid	47,008	13,095
Income taxes paid	14,677	13,923
Non-cash Investing and Financing Items
Loans transferred to OREO	123	1,994
Accrued dividends payable	$ 2,158	$ 2,156

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	Description of Business and Summary of Significant Accounting Policies Business: Parke Bancorp, Inc. (the “Company, we, us, our”) is a bank holding company headquartered in Sewell, New Jersey. Through subsidiaries, the Company provides individuals, corporations and other businesses, and institutions with commercial and retail banking services, principally loans and deposits. The Company was incorporated in January 2005 under the laws of the State of New Jersey for the sole purpose of becoming the holding company of Parke Bank (the "Bank"). The Bank is a commercial bank, which was incorporated on August 25, 1998, and commenced operations on January 28, 1999. The Bank is chartered by the New Jersey Department of Banking and Insurance and its deposits are insured by the Federal Deposit Insurance Corporation. The Bank maintains seven branch offices with its principal office at 601 Delsea Drive, Sewell, New Jersey, and additional branch office locations; 631 Tilton Road, Northfield, New Jersey, 567 Egg Harbor Road, Washington Township, New Jersey, 67 East Jimmie Leeds Road, Galloway Township, New Jersey, 1150 Haddon Avenue, Collingswood, New Jersey, 1610 Spruce Street, Philadelphia, Pennsylvania, and 1032 Arch Street, Philadelphia, Pennsylvania. Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with GAAP. We have reclassified certain prior year amounts to conform to the 2023 presentation, which did not have a material impact on our consolidated financial condition or results of operations. The accounting policies that materially affect the determination of financial position, results of operations and cash flows are summarized below. Principles of Consolidation : The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Parke Bank. Parke Capital Trust I, Parke Capital Trust II and Parke Capital Trust III are wholly-owned subsidiaries but are not consolidated because they do not meet the requirements for consolidation under applicable accounting guidance. All material inter-company balances and transactions have been eliminated. Cash and cash equivalents : Consists of cash and due from banks, and interest-bearing deposits and other-short term investments, all of which, if applicable, have stated maturities of three months or less when acquired. Investment Securities : Debt securities are recorded on a trade-date basis. We classify debt securities as held to maturity if we have the positive intent and ability to hold the securities to maturity. We report securities held to maturity on our consolidated balance sheets at carrying value, which generally equals amortized cost. Amortized cost reflects historical cost adjusted for amortization of premiums, accretion of discounts and any previously recorded impairments. Debt securities not classified as held to maturity or trading are designated as securities available for sale ("AFS") and carried at fair value with unrealized gains and losses, net of income taxes, reflected in accumulated other comprehensive income (loss). We did not have any securities classified as trading securities during 2023 or 2022. Interest on debt securities, including amortization of premiums and accretion of discounts, is included in interest income. Premiums and discounts are amortized or accreted to interest income at a constant effective yield over the contractual lives of the securities. Realized gains and losses from the sales of debt securities are determined on a specific security basis. These securities gains/(losses) are included in other noninterest income. Restricted Stock : Restricted stock includes investments in the common stock of the FHLBNY and the Atlantic Central Bankers Bank for which no readily available market exists and, accordingly, is carried at cost. The stocks have no quoted market value and are subject to redemption restrictions. Management reviews these stocks for credit loss based on the ultimate recoverability of the cost basis in the stock. The stocks’ values are determined by the ultimate recoverability of the par value rather than by recognizing temporary declines. Management considers such criteria as the significance of the decline in net assets, if any, the length of time this situation has persisted and the financial performance of the issuers. In addition, management considers any commitments by the FHLBNY to make payments required by law or regulation, the impact of legislative and regulatory changes on the customer base of the FHLBNY and the liquidity position of the FHLBNY. Loans : We classify loans as held for investment or held for sale based on our investment strategy and management’s intent and ability with regard to the loans which may change over time. The accounting and measurement framework for loans differs depending on the loan classification. Loans that we have the ability and intent to hold for the foreseeable future or until maturity or pay-off are classified as held for investment. Loans classified as held for investment are reported at their amortized cost, which is the outstanding principal balance, adjusted for any unearned income, unamortized deferred fees and costs, unamortized premiums and discounts and charge-offs. Interest income on the loans is recognized as earned based on contractual interest rates applied to daily principal amounts outstanding. Loan origination fees, direct loan origination costs, and loan premiums and discounts are deferred and accreted or amortized into net interest income using the constant effective yield method, over the contractual life of the loan. Loans originated with the intent to sell or for which we do not have the ability and intent to hold for the foreseeable future are classified as held for sale. Interest on these loans is recognized on an accrual basis. These loans are recorded at the lower of cost or fair value. Our Small Business Administration ("SBA") loans that management has the intention to sell are designated as held for sale and are reported at fair value. Fair value represents the face value of the guaranteed portion of SBA loans pending settlement. Loan origination fees and direct loan origination costs are deferred until the loan is sold and are recognized as part of the total gain or loss on sale. We calculate the gross gain or loss on loan sales as the difference between the proceeds received and the carrying value of the loans sold. Loan Fees : Loan fees and direct costs associated with loan originations are netted and deferred. The deferred amount is recognized as an adjustment to loan interest over the term of the related loan using the interest method. Prepayment penalties on loans are recognized in loan interest. Loan brokerage fees represent commissions earned for facilitating loans between borrowers and other companies and is recorded as other loan fee income. Non-accrual Loans : Loans are placed on non-accrual status when, in management's opinion, the borrower may be unable to meet contractual payment obligations as they become due, as well as when a loan is 90 days past due, unless the loan is well secured and in the process of collection, as required by regulatory provisions. Loans may be placed on non-accrual status regardless of whether or not such loans are considered past due. When interest accrual is discontinued, all unpaid accrued interest is reversed. Interest income is subsequently recognized only to the extent cash payments are received in excess of principal due. Allowance for Credit Losses on Loans and Leases : The allowance for credit losses represents management’s estimate of expected losses inherent in the Company’s lending activities excluding loans accounted for under fair value. The allowance for credit losses is maintained through charges to the provision for credit losses in the Consolidated Statements of Income as expected losses are estimated. Loans or portions thereof that are determined to be uncollectible are charged against the allowance, and subsequent recoveries, if any, are credited to the allowance. The Company performs periodic reviews of its loan and lease portfolios to identify credit risks and to assess the overall collectability of those portfolios. The Company's allowance for credit losses includes a general component and an asset-specific component for collateral-dependent loans. To determine the asset-specific component of the allowance, the loans are evaluated individually based on the fair value of the underlying collateral. The Company generally measures the asset-specific allowance as the difference between the net realizable value of loan collateral and the recorded investment of a loan. The general component of the allowance evaluates the impairments of pools of the loan portfolio collectively. It incorporates a historical valuation allowance and qualitative allowance. The historical valuation utilizes a vintage loss rate approach utilizing a third party software model. The vintage loss rate approach creates pools of loans based on the segments defined by management, and consists of commercial and industrial, construction, commercial - owner occupied, commercial - non-owner occupied, residential - 1 to 4 family, residential - 1 to 4 family investment, residential - multifamily, and consumer. The loan pools are aggregated by origination year. Charge-offs, net of recoveries, are allocated by the year of charge-off to each loan pool. An average life is prescribed to a pool of loans that were originated in a particular year. The actual charge-offs as a percent of total loans are calculated for each historical year, and projected for future years for each year within the average life time horizon. The sum of the actual charge-offs and projected charge-offs are divided by the average amortized origination amount for each respective year. Those charge-off percentages are added together to obtain an aggregated vintage loss percentage which is then multiplied by the outstanding loan balances to obtain a reserve requirement. The qualitative allowance component is based on general economic conditions and other qualitative risk factors both internal and external to the Company. It is generally determined by evaluating, among other things: (i) the experience, ability and effectiveness of the Bank's lending management and staff; (ii) the effectiveness of the Bank's lending policies, procedures and internal controls;(iii) volume and severity of loan credit quality; (iv) nature and volume of portfolio and term of loans (v) the composition and concentrations of credit; (vi) the effectiveness of the internal loan review system; and (vii) national and local economic trends and conditions, and industry conditions. Management evaluates the degree of risk that each one of these components has on the quality of the loan portfolio on a quarterly basis. Each component is determined to have either a high, high-moderate, moderate, low-moderate or low degree of risk. The results are then input into a "general allocation matrix" to determine an appropriate general valuation allowance. The Company has elected to exclude accrued interest receivable from the measurement of the ACL. When a loan is placed on non-accrual status, any outstanding accrued interest is generally reversed against interest income. The process of determining the level of the allowance for credit losses requires a high degree of estimate and judgment. It is reasonably possible that actual outcomes may differ from our estimates. Allowance for Credit Losses on Lending-Related Commitments : Parke estimates expected credit losses over the contractual period in which it is exposed to credit risk on contractual obligations to extend credit, unless the obligation is unconditionally cancellable by the Company. The allowance for credit losses on lending-related commitments is recorded in other liabilities in the consolidated balance sheet and is recorded as a provision for credit losses in the consolidated income statement. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over their estimated lives. The lifetime loss rates for off-balance sheet credit exposures are calculated in the same manner as on-balance sheet credit exposures, using the same model and economic forecasts, adjusted for the estimated likelihood that funding will occur. Individually Assessed Loans and Leases : ASC 326 provides that a loan or lease is measured individually if it does not share similar risk characteristics with other financial assets. For Parke, loans and leases which are identified to be individually assessed under CECL typically are those that are on non-accrual at the reporting date, and include collateral dependent loans. Collateral Dependent Loans Parke considers a loan to be collateral dependent when foreclosure of the underlying collateral is probable. Parke has also elected to apply the practical expedient to measure expected credit losses of a collateral dependent asset using the fair value of the collateral, less any estimated costs to sell, when foreclosure is not probable but repayment of the loan is expected to be provided substantially through the operation or sale of the collateral, and the borrower is experiencing financial difficulty. Allowance for Credit Losses on Held to Maturity Securities : We follow Accounting Standards Codification (ASC) 326-20, Financial Instruments - Credit Loss - Measured at Amortized Cost , to measure expected credit losses on held-to-maturity debt securities on a collective basis by security investment grade. The estimate of expected credit losses considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. The Company classifies the held-to-maturity debt securities into the following major security types: residential mortgage backed, and state and political subdivisions. These securities are highly rated with a history of no credit losses, and are assigned ratings based on the most recent data from ratings agencies depending on the availability of data for the security. Credit ratings of held-to-maturity debt securities, which are a significant input in calculating the expected credit loss, are reviewed on a quarterly basis. Based on the credit ratings of our held-to-maturity securities and our historical experience including no losses, we have determined that an allowance for credit loss on the held-to-maturity portfolio is not required Accrued interest receivable on held-to-maturity debt securities is excluded from the estimate of credit losses and is included in Accrued interest receivable on the Consolidated Statements of Financial Condition. Allowance for Credit Losses on Available for Sale Securities : We follow ASC 326-30, Financial Instruments - Credit Loss - Available-for-Sale Debt Securities , which provides guidance related to the recognition of and expanded disclosure requirements for expected credit losses on available-for-sale debt securities. For available-for-sale debt securities in an unrealized loss position, the Company first evaluates whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either criteria is met, the security's amortized cost basis is reduced to fair value and recognized as a reduction to non-interest income in the Consolidated Statements of Income. For debt securities available-for-sale which the Company does not intend to sell, or it is not likely the security would be required to be sold before recovery, we evaluate whether a decline in fair value has resulted from credit losses or other adverse factors, such as a change in the security's credit rating. In assessing whether a credit loss exists, the Company compares the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance is recorded, limited to the fair value of the security. Charge-Offs : We charge off loans as a reduction to the allowance for credit losses when we determine the loan is uncollectible and record subsequent recoveries of previously charged off amounts as an increase to the allowance for credit losses. Concentration of Credit Risk : The Company’s loans are generally to customers in Southern New Jersey, the Philadelphia area of Pennsylvania, and New York, New York. Loans to general building contractors, general merchandise stores, restaurants, motels, warehouse space, and real estate ventures (including construction loans) constitute a majority of commercial loans. The concentrations of credit by type of loan are set forth in Note 4. Generally, loans are collateralized by assets of the borrower and are expected to be repaid from the borrower’s cash flow or proceeds from the sale of selected assets of the borrower. Other Real Estate Owned (“OREO”) : Real estate acquired through foreclosure or other proceedings is carried at the lower of cost or estimated fair value, less estimated costs to sell. When a property is acquired, the excess of the loan balance over the estimated fair value is charged to the allowance for credit losses. Costs of improving OREO are capitalized to the extent that the carrying value does not exceed its fair value less estimated selling costs. Subsequent valuation adjustments, declines, if any, are recognized as a charge against current earnings. Holding costs are charged to expense. Gains and losses on sales are recognized in noninterest income as they occur. The OREO balance is included in other assets on the balance sheets. Interest Rate Risk : The Company is principally engaged in the business of attracting deposits from the general public and using these deposits, together with other borrowed and brokered funds, to make commercial, commercial mortgage, residential mortgage, and consumer loans, and to invest in overnight and term investment securities. Inherent in such activities is interest rate risk that results from differences in the maturities and repricing characteristics of these assets and liabilities. For this reason, management regularly monitors the level of interest rate risk and the potential impact on net income. Bank Premises and Equipment : Bank premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed and charged to expense using the straight-line method over the estimated useful lives of the assets, generally three years for computers and software, five Lease: Lease classification is determined at inception for all lease transactions with an initial term greater than one year. Operating leases are included as right-of-use (“ROU”) assets within other assets, and operating lease liabilities are classified as other liabilities on our consolidated balance sheets. Our operating lease expense is included in occupancy and equipment within non-interest expense in our consolidated statements of income. Stock-Based Compensation : Stock-based compensation expense is based on the grant date fair value, which is estimated using a Black-Scholes option pricing model. The fair value of stock-based compensation used in determining compensation expense generally equals the fair market value of our common stock on the date of grant. We generally recognize compensation expense on a straight-line basis over the award’s requisite service period based on the fair value of the award at grant date. Stock-based compensation expense is included in compensation and benefits in the consolidated statements of income. Revenue recognition : Our revenue includes net interest income on financial instruments and non-interest income. Interest income and fees on loans, investment securities, and other financial instruments are recognized based on the contractual provisions of the underlying arrangements according to applicable accounting guidance. Deposit-related-fee-based revenue within the scope of ASC Topic 606 - Revenue from Contracts with Customers (Topic 606) is included in non-interest income in our consolidated statements of income. Our deposit-related-fee-based revenues are recognized when or as those services are transferred to the customer and are generally recognized either immediately upon the completion of our service or over time as we perform services. Any services performed over time generally require that we render services each period and therefore we measure our progress in completing these services based upon the passage of time. Deposit-related fees are recognized over the period in which the related service is provided. Service charges on deposit accounts are earned on depository accounts for customers and include fees for account and overdraft services. Account services include fees for event-driven services and fees for periodic account maintenance activities. Our obligation for event-driven services is satisfied at the time of the event when the service is delivered, while our obligation for maintenance services is satisfied over the course of each month. Our obligation for overdraft services is satisfied at the time of the overdraft. Income Taxes : We recognize the current and deferred tax consequences of all transactions that have been recognized in the financial statements using the provisions of the enacted tax laws. Current income tax expense represents our estimated taxes to be paid or refunded for the current period. Deferred tax assets and liabilities are determined based on differences between the financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Thus, at the enactment date, deferred taxes are remeasured and the change is recognized in income tax expense. The recognition of deferred tax assets requires an assessment to determine the realization of such assets. Realization refers to the incremental benefit achieved through the reduction in future taxes payable or refunds receivable. We establish a valuation allowance for tax assets when it is more likely than not that they will not be realized, based upon all available evidence. Realization of deferred tax assets is dependent on generating sufficient taxable income in the future. When tax returns are filed, it is highly certain that some positions taken will be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that ultimately would be sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more-likely-than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. The evaluation of a tax position taken is considered by itself and not offset or aggregated with other positions. Tax positions that meet the more likely than not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest and penalties associated with unrecognized tax benefits would be recognized in income tax expense on the income statement. The Company did not recognize any interest or penalties related to income tax during the years ended December 31, 2023 and 2022, respectively. The Company does not have an accrual for uncertain tax positions as of December 31, 2023 and 2022, as deductions taken and benefits accrued are based on widely understood administrative practices and procedures and are based on clear and unambiguous tax law. All years after 2019 are open under the original federal statute of limitations. For state tax returns, the Company is subject to income tax examinations by local tax authorities for years 2019 and after, except for the State of New Jersey which is still subject to income tax examinations for years 2018 and after. Fair value: Fair value, also referred to as an exit price, is defined as the price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The fair value accounting guidance provides a three-level fair value hierarchy for classifying financial instruments. This hierarchy is based on whether the inputs to the valuation techniques used to measure fair value are observable or unobservable. Fair value measurement of a financial asset or liability is assigned to a level based on the lowest level of any input that is significant to the fair value measurement in its entirety. The accounting guidance for fair value requires that we maximize the use of observable inputs and minimize the use of unobservable inputs in determining fair value. Use of Estimates : The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Our most significant estimates pertain to our allowances for loan and lease losses, fair value measurements, individually evaluated loans, the carrying value of OREO, and the valuation of deferred income taxes. Actual results may differ from the estimates and the differences may be material to the consolidated financial statements. Segment Reporting: The Company operates one reportable segment of business, “community banking”. Through its community banking segment, the Company provides a broad range of retail and community banking services. Other Comprehensive Income : Comprehensive income consists of net income and other gains and losses affecting shareholders' equity that, under GAAP, are excluded from net income, including unrealized gains and losses on available for sale securities. For year 2023 and 2022, we did not reclassify any amounts from accumulated other comprehensive income (loss) to income. The following table provides the components of other comprehensive income, reclassifications to net income and the related tax effect for the year ended December 31, 2023 and 2022: Year ended December 31, 2023 2022 (Dollars in thousands) Investment securities: Net unrealized gain (loss) $ 165 $ (1,039) Tax effect related to the unrealized (gain) loss (43) 268 Accumulated other comprehensive income $ 122 $ (771) Earnings Per Common Share : Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share considers common stock equivalents (when dilutive) outstanding during the period such as options outstanding and convertible preferred stock. To the extent that stock equivalents are anti-dilutive, they have been excluded from the earnings per share calculation. Earnings per common share have been computed based on the following for 2023 and 2022: 2023 2022 (Dollars in thousands, except per share data) Basic earnings per common share Net income available to common shareholders $ 28,436 $ 41,796 Basic weighted-average common shares outstanding 11,945,740 11,918,319 Basic earnings per common share $ 2.38 $ 3.51 Diluted earnings per common share Net income available to common shareholders $ 28,436 $ 41,796 Dividend on Preferred Series B 26 27 Net income attributable to diluted common shares $ 28,462 $ 41,823 Basic weighted-average common shares outstanding 11,945,740 11,918,319 Dilutive potential common shares 191,312 257,121 Total diluted weighted-average common shares outstanding 12,137,052 12,175,440 Diluted earnings per common share $ 2.35 $ 3.44 For 2023 and 2022, there were 330,536 and 125,938 weighted average option shares outstanding, respectively, that were not included in the computation of diluted EPS because these shares were anti-dilutive. Contingent loss : Included in other operating expense is the one-time recognition of a $9.5 million contingent loss related to cash that was stolen from a third-party armored car carrier facility that was used by the Company. Statement of Cash Flows : Cash and cash equivalents include cash and due from financial institutions and federal funds sold. For the purposes of the statement of cash flows, changes in loans and deposits are shown on a net basis. Recently Issued Accounting Pronouncements : ASU 2020-04, Reference Rate Reform (Topic 848): In March 2020, the FASB issued ASU No. 2020.-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The amendments provide optional guidance to entities for a limited period of time to ease the transition in accounting for and recognizing the effects of reference rate reform on financial reporting. Under the guidance, modifications of contracts due to reference rate reform will not require contract remeasurement or reassessment of a previous accounting determination. For hedge accounting, modification of critical terms of the hedge due to changes in reference rate reform will not affect hedge accounting or dedesignate the hedging relationship. The guidance also provides specific expedients for fair value hedges, cash flow hedges, and excluded components. Further, the guidance provides a none-time election to sell or transfer held to maturity debt securities that are affected by the reference rate change. The guidance is effective upon issuance through December 31, 2022. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 , which extends the sunset (or expiration) date of Accounting Standards Codification (ASC) Topic 848 to December 31, 2024. This gives reporting entities two additional years to apply the accounting relief provided under ASC Topic 848 for matters related to reference rate reform. ASU 2022-06 is effective for all reporting entities immediately upon issuance and must be applied on a prospective basis. The Company does not expect the application of this guidance to have a material impact on the Consolidated Financial Statements. Accounting Pronouncements Adopted in 2023 In June 2016, the Financial Accounting Standard Board (FASB) issued accounting standards update ("ASU") 2016-13, Financial Instruments-Credit Losses. ASU 2016-13 (Topic 326) , replaces the incurred loss impairment methodology in current GAAP with a CECL methodology and requires consideration of a broader range of information to determine credit loss estimates. Financial assets measured at amortized cost will be presented at the net amount expected to be collected by using an allowance for credit losses. The ASU was amended in some aspects by subsequent Accounting Standards Updates. This guidance became effective on January 1, 2023 for the Company. Results and disclosures for reporting periods beginning after January 1, 2023 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company adopted this guidance, and subsequent related updates, using the modified retrospective approach for all financial assets measured at amortized cost, including loans and held-to-maturity debt securities, and unfunded commitments. On January 1, 2023, the Company recorded a cumulative effect decrease to retained earnings of $2.1 million, net of tax, of which $1.9 million related to loans, and $960.0 thousand related to unfunded commitments. There were no such charges for securities held by the Company at the date of adoption. The following table illustrates the impact of adopting ASC 326: (Amounts in thousands) January 1, 2023 Assets Pre-adoption Adoption Impact As Reported ACL on loans Commercial and Industrial $ 390 $

Cash and Due from Banks

Cash and Due from Banks	12 Months Ended
	Dec. 31, 2023
Cash and Due from Banks [Abstract]
Cash and Due from Banks	Cash and Due from Banks The Company maintains various deposit accounts with other banks to meet normal funds transaction requirements, to satisfy deposit reserve requirements, and to compensate other banks for certain correspondent services. Management is responsible for assessing the credit risk of its correspondent banks. At December 31, 2023 and 2022, the vast majority of the Company's cash deposits with other banks were due from the Federal Reserve Bank of Philadelphia and the Federal Home Loan Bank of New York.

Investment Securities

Investment Securities	12 Months Ended
	Dec. 31, 2023
Investments [Abstract]
Investment Securities	Investment Securities The following is a summary of the Company's investments in available for sale and held to maturity securities as of December 31, 2023 and 2022: As of December 31, 2023 Amortized Gross Gross Fair value Credit Losses ( Dollars in thousands) Available for sale: Residential mortgage-backed securities $ 7,639 $ 3 $ 547 $ 7,095 $ — Total available for sale $ 7,639 $ 3 $ 547 $ 7,095 $ — Held to maturity: States and political subdivisions $ 3,886 $ 38 $ 384 $ 3,540 $ — Residential mortgage-backed securities 5,406 — 1,054 4,352 — Total held to maturity $ 9,292 $ 38 $ 1,438 $ 7,892 $ — As of December 31, 2022 Amortized Gross Gross Fair value ( Dollars in thousands) Available for sale: Corporate debt obligations $ 500 $ — $ — $ 500 Residential mortgage-backed securities 9,575 3 712 8,866 Total available for sale $ 10,075 $ 3 $ 712 $ 9,366 Held to maturity: States and political subdivisions $ 3,822 $ 56 $ 533 $ 3,345 Residential mortgage-backed securities 5,556 — 1,096 4,460 Total held to maturity $ 9,378 $ 56 $ 1,629 $ 7,805 The amortized cost and fair value of debt securities classified as available for sale and held to maturity, by contractual maturity as of December 31, 2023, are as follows: Amortized Fair ( Dollars in thousands) Available for sale: Due within one year $ — $ — Due after one year through five years 2,996 2,814 Due after five years through ten years 1,008 942 Due after ten years 3,635 3,339 Total available for sale $ 7,639 $ 7,095 Held to maturity: Due within one year $ — $ — Due after one year through five years 1,412 1,450 Due after five years through ten years — — Due after ten years 7,880 6,442 Total held to maturity $ 9,292 $ 7,892 Expected maturities may differ from contractual maturities because the issuers of certain debt securities have the right to call or prepay their obligations without any penalty. During the year ending December 31, 2023 and 2022, the Company did not sell any investment securities. The following tables show the gross unrealized losses and fair value of the Company's available for sale securities which are aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2023 and December 31, 2022. As of December 31, 2023 Less Than 12 Months 12 Months or Greater Total Description of Securities Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Available for sale: Residential mortgage-backed securities $ 25 $ — $ 6,870 $ (547) $ 6,895 $ (547) Total available for sale $ 25 $ — $ 6,870 $ (547) $ 6,895 $ (547) As of December 31, 2022 Less Than 12 Months 12 Months or Greater Total Description of Securities Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Available for sale: Residential mortgage-backed securities $ 7,579 $ 576 $ 1,043 $ 136 $ 8,622 $ 712 Total available for sale $ 7,579 $ 576 $ 1,043 $ 136 $ 8,622 $ 712 Held to maturity: States and political subdivisions $ — $ — $ 1,943 $ 533 $ 1,943 $ 533 Residential mortgage-backed securities — — 4,460 1,096 4,460 1,096 Total held to maturity $ — $ — $ 6,403 $ 1,629 $ 6,403 $ 1,629 The Company’s unrealized loss for the available for sale securities is comprised of 3 securities in the less than 12 months loss position and 16 securities in the 12 months or greater loss position at December 31, 2023. The mortgage-backed securities that had unrealized losses were issued or guaranteed by the US government or government sponsored entities. The unrealized losses associated with those mortgage-backed securities are generally driven by changes in interest rates and not due to credit losses given the explicit or implicit guarantees provided by the U.S. government. The states and political subdivisions securities shown in the 2022 table that had unrealized losses were issued by a school district, and therefore the loss is attributed to changes in interest rates and not due to credit losses. Additionally, these securities are classified as held to maturity. Because the Company does not intend to sell the securities and it is not more likely than not that the Company will be required to sell these investments before recovery of their amortized cost basis, the Company does not consider the unrealized loss in these securities to be a credit loss at December 31, 2023. Impairment of Debt Securities

Loans Receivable and Allowance

Loans Receivable and Allowance for Credit Losses	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Loans Receivable and Allowance for Loan and Lease Losses	Loans Receivable and Allowance for Credit Losses Loans Receivable As of December 31, 2023, the Company had $1.79 billion in loans receivable outstanding. Outstanding balances include $2.7 million and $1.9 million at December 31, 2023 and 2022, respectively, for net deferred loan costs, and unamortized discounts. The portfolios of loans receivable at December 31, 2023, and December 31, 2022, consist of the following, by portfolio segment: December 31, 2023 December 31, 2022 (Dollars in thousands) Commercial and Industrial $ 35,451 $ 32,383 Construction 157,556 192,357 Real Estate Mortgage: Commercial – Owner Occupied 141,742 125,950 Commercial – Non-owner Occupied 369,909 377,452 Residential – 1 to 4 Family 449,682 444,820 Residential - 1 to 4 Family Investment 524,167 476,210 Residential – Multifamily 103,324 95,556 Consumer 5,509 6,731 Total Loan receivable 1,787,340 1,751,459 Allowance for credit losses on loans (32,131) (31,845) Total loan receivable, net of allowance for credit losses on loans $ 1,755,209 $ 1,719,614 An age analysis of past due loans by class at December 31, 2023 and December 31, 2022 as follows: December 31, 2023 30-59 60-89 Greater Total Past Current Total (Dollars in thousands) Commercial and Industrial $ — $ — $ 712 $ 712 $ 34,739 $ 35,451 Construction — — 1,091 1,091 156,465 157,556 Real Estate Mortgage: Commercial – Owner Occupied — — 1,117 1,117 140,625 141,742 Commercial – Non-owner Occupied — 1,549 3,107 4,656 365,253 369,909 Residential – 1 to 4 Family 58 1,793 1,211 3,062 446,620 449,682 Residential - 1 to 4 Family Investment — 440 — 440 523,727 524,167 Residential – Multifamily — — — — 103,324 103,324 Consumer 66 — — 66 5,443 5,509 Total Loans $ 124 $ 3,782 $ 7,238 $ 11,144 $ 1,776,196 $ 1,787,340 December 31, 2022 30-59 60-89 Greater Total Past Current Total Loans (Dollars in thousands) Commercial and Industrial $ — $ 89 $ — $ 89 $ 32,294 $ 32,383 Construction — — 1,091 1,091 191,266 192,357 Real Estate Mortgage: Commercial – Owner Occupied — — 400 400 125,550 125,950 Commercial – Non-owner Occupied — — 14,553 14,553 362,899 377,452 Residential – 1 to 4 Family 58 — 162 220 444,600 444,820 Residential - 1 to 4 Family Investment — — — — 476,210 476,210 Residential – Multifamily — — — — 95,556 95,556 Consumer 78 — 70 148 6,583 6,731 Total Loans $ 136 $ 89 $ 16,276 $ 16,501 $ 1,734,958 $ 1,751,459 The following table provides the amortized cost of loans on nonaccrual status: December 31, 2023 (amounts in thousands) Nonaccrual with no ACL Nonaccrual with ACL Total Nonaccrual Loans Past Due Over 90 Days Still Accruing Total Nonperforming Commercial and Industrial $ 277 $ 435 $ 712 $ — $ 712 Construction 1,091 — 1,091 — 1,091 Commercial - Owner Occupied 717 400 1,117 — 1,117 Commercial - Non-owner Occupied 3,107 — 3,107 — 3,107 Residential - 1 to 4 Family 1,211 — 1,211 — 1,211 Residential - 1 to 4 Family Investment — — — — — Residential - Multifamily — — — — — Consumer — — — — — Total $ 6,403 $ 835 $ 7,238 $ — $ 7,238 December 31, 2022 (amounts in thousands) Total Nonaccrual Loans Past Due Over 90 Days Still Accruing Commercial and Industrial $ — $ — Construction 1,091 — Commercial - Owner Occupied 587 — Commercial - Non-owner Occupied 19,568 — Residential - 1 to 4 Family 417 — Residential - 1 to 4 Family Investment — — Residential - Multifamily — — Consumer 70 — Total $ 21,733 $ — Allowance For Credit Losses (ACL) We maintain the ACL at a level that we believe to be appropriate to absorb estimated credit losses in the loan portfolios as of the balance sheet date. We established our allowance in accordance with guidance provided in Accounting Standard Codification ("ASC") - Financial Instruments - Credit Losses ("ASC 326"). The following tables present the information regarding the allowance for credit losses and associated loan data by portfolio segment under the CECL model in accordance with ASC 326: Twelve Months Ended December 31, 2023 As of December 31, 2023 Real Estate Mortgage (Dollars in thousands) Commercial and Industrial Construction Commercial Owner Occupied Commercial Non-owner Occupied Residential 1 to 4 Family Residential 1 to 4 Family Investment Residential Multifamily Consumer Total December 31, 2022 $ 390 $ 2,581 $ 2,298 $ 9,709 $ 6,076 $ 9,381 $ 1,347 $ 63 $ 31,845 Impact of adoption ASC 326 168 1,899 (171) (951) 1,782 (794) (128) 53 1,858 Charge-offs — — — — — — — — — Recoveries 15 — 3 — — — — — 18 Provisions (benefits) 353 (1,133) (335) (1,650) 1,203 196 (170) (54) (1,590) Ending Balance December 31 2023 $ 926 $ 3,347 $ 1,795 $ 7,108 $ 9,061 $ 8,783 $ 1,049 $ 62 $ 32,131 The increase in allowance for credit losses for construction is due to an increase in the vintage loss rate upon the implementation of CECL, partially offset by a decrease in loan balance during the year. The increase in the allowance for credit losses for residential 1 to 4 family is due to an increase in the vintage loss rate upon the implementation of CECL, as well as an increase in loan balance during the year. The decrease in allowance for credit losses for residential 1 to 4 family investment, and residential multifamily is due to lower vintage loss rates upon the implementation of CECL, partially offset by increases in loan balances during the year. The decrease in allowance for credit losses for commercial non-owner occupied is due to lower vintage loss rates upon the implementation of CECL, a decrease in loan balance, and a decrease in loss rates due to a decrease in non-performing loans. The following tables present the information regarding the allowance for loan losses and associated loan data by portfolio segment under the incurred loss model: Twelve Months Ended December 31, 2022 As of December 31, 2022 Real Estate Mortgage (Dollars in thousands) Commercial and Industrial Construction Commercial Owner Occupied Commercial Non-owner Occupied Residential 1 to 4 Family Residential 1 to 4 Family Investment Residential Multifamily Consumer Total December 31, 2021 $ 417 $ 2,662 $ 2,997 $ 7,476 $ 7,045 $ 7,925 $ 1,215 $ 108 $ 29,845 Charge-offs — — — — (66) — — — (66) Recoveries 14 100 18 — 134 — — — 266 Provisions (41) (181) (717) 2,233 (1,037) 1,456 132 (45) 1,800 Ending Balance December 31 2022 $ 390 $ 2,581 $ 2,298 $ 9,709 $ 6,076 $ 9,381 $ 1,347 $ 63 $ 31,845 Allowance for loan losses Individually evaluated for impairment $ — $ — $ 31 $ 500 $ 18 $ — $ — $ — $ 549 Collectively evaluated for impairment 390 2,581 2,267 9,209 6,058 9,381 1,347 63 31,296 Balance at December 31, 2022 $ 390 $ 2,581 $ 2,298 $ 9,709 $ 6,076 $ 9,381 $ 1,347 $ 63 $ 31,845 Loans Individually evaluated for impairment $ — $ 1,091 $ 587 $ 19,568 $ 417 $ — $ — $ 70 $ 21,733 Collectively evaluated for impairment 32,383 191,266 125,363 357,884 444,403 476,210 95,556 6,661 1,729,726 Balance at December 31, 2022 $ 32,383 $ 192,357 $ 125,950 $ 377,452 $ 444,820 $ 476,210 $ 95,556 $ 6,731 $ 1,751,459 Collateral-Dependent Loans The following table presents the collateral-dependent loans by portfolio segment and collateral type at December 31, 2023: (amounts in thousands) Real Estate Business Assets Other Commercial and Industrial $ 712 $ — $ — Construction 1,091 — — Commercial - Owner Occupied 1,117 — — Commercial - Non-owner Occupied 3,107 — — Residential - 1 to 4 Family 1,211 — — Residential - 1 to 4 Family Investment — — — Residential - Multifamily — — — Consumer — — — Total $ 7,238 $ — $ — Credit Quality Indicators : As part of the on-going monitoring of the credit quality of the Company's loan portfolio, management tracks certain credit quality indicators including trends related to the risk grades of loans, the level of classified loans, net charge-offs, nonperforming loans (see details above) and the general economic conditions in the region. The Company utilizes a risk grading matrix to assign a risk grade to each of its loans. Loans are graded on a scale of 1 to 7. Grades 1 through 4 are considered “Pass”. A description of the general characteristics of the seven risk grades is as follows: 1. Good : Borrower exhibits the strongest overall financial condition and represents the most creditworthy profile. 2. Satisfactory (A) : Borrower reflects a well-balanced financial condition, demonstrates a high level of creditworthiness and typically will have a strong banking relationship with the Bank. 3. Satisfactory (B) : Borrower exhibits a balanced financial condition and does not expose the Bank to more than a normal or average overall amount of risk. Loans are considered fully collectable. 4. Watch List : Borrower reflects a fair financial condition, but there exists an overall greater than average risk. Risk is deemed acceptable by virtue of increased monitoring and control over borrowings. Probability of timely repayment is present. 5. Other Assets Especially Mentioned (OAEM) : Financial condition is such that assets in this category have a potential weakness or pose unwarranted financial risk to the Bank even though the asset value is not currently individually evaluated. The asset does not currently warrant adverse classification but if not corrected could weaken and could create future increased risk exposure. Includes loans that require an increased degree of monitoring or servicing as a result of internal or external changes. 6. Substandard : This classification represents more severe cases of #5 (OAEM) characteristics that require increased monitoring. Assets are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Assets are inadequately protected by the current net worth and paying capacity of the borrower or of the collateral. Asset has a well-defined weakness or weaknesses that impairs the ability to repay debt and jeopardizes the timely liquidation or realization of the collateral at the asset’s net book value. 7. Doubtful : Assets which have all the weaknesses inherent in those assets classified #6 (Substandard) but the risks are more severe relative to financial deterioration in capital and/or asset value; accounting/evaluation techniques may be questionable and the overall possibility for collection in full is highly improbable. Borrowers in this category require constant monitoring, are considered work-out loans and present the potential for future loss to the Bank. The following tables provide an analysis of loans by portfolio segment based on the credit quality indicators used to determine the allowance for credit losses, as of December 31, 2023 under the current expected credit loss model. (Dollars in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving Loans at Amortized Cost Basis As of December 31, 2023 2023 2022 2021 2020 2019 Prior Total Commercial and Industrial Pass $ 4,724 $ 1,269 $ 87 $ 759 $ 598 $ 7,154 $ 20,148 $ 34,739 OAEM — — — — — — — — Substandard — 435 — — — — 277 712 Doubtful — — — — — — — — $ 4,724 $ 1,704 $ 87 $ 759 $ 598 $ 7,154 $ 20,425 $ 35,451 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Construction Pass $ 323 $ 3,335 $ 4,499 $ 195 $ — $ — $ 148,113 $ 156,465 OAEM — — — — — — — — Substandard — — — — — 1,091 — 1,091 Doubtful — — — — — — — — $ 323 $ 3,335 $ 4,499 $ 195 $ — $ 1,091 $ 148,113 $ 157,556 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Commercial – Owner Occupied Pass $ 19,842 $ 36,030 $ 21,536 $ 7,104 $ 8,346 $ 45,249 $ 2,518 $ 140,625 OAEM — — — — — — — — Substandard — — — — — 1,117 — 1,117 Doubtful — — — — — — — — $ 19,842 $ 36,030 $ 21,536 $ 7,104 $ 8,346 $ 46,366 $ 2,518 $ 141,742 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Commercial – Non-owner Occupied Pass $ 19,123 $ 93,805 $ 37,002 $ 33,316 $ 54,484 $ 112,471 $ 1,180 $ 351,381 OAEM — — — — — 15,421 — 15,421 Substandard — — — 250 2,586 271 — 3,107 Doubtful — — — — — — — — $ 19,123 $ 93,805 $ 37,002 $ 33,566 $ 57,070 $ 128,163 $ 1,180 $ 369,909 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Residential – 1 to 4 Family Performing $ 58,358 $ 117,044 $ 61,580 $ 33,037 $ 25,623 $ 148,124 $ 4,705 $ 448,471 Nonperforming 155 — — 285 771 — — 1,211 $ 58,513 $ 117,044 $ 61,580 $ 33,322 $ 26,394 $ 148,124 $ 4,705 $ 449,682 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Residential – 1 to 4 Family Investment Performing $ 87,734 $ 138,884 $ 116,487 $ 50,119 $ 54,576 $ 76,367 $ — $ 524,167 Nonperforming — — — — — — — — $ 87,734 $ 138,884 $ 116,487 $ 50,119 $ 54,576 $ 76,367 $ — $ 524,167 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Residential – Multifamily Pass $ 2,292 $ 23,030 $ 27,006 $ 12,159 $ 9,989 $ 28,848 $ — $ 103,324 OAEM — — — — — — — $ — Substandard — — — — — — — $ — Doubtful — — — — — — — — $ 2,292 $ 23,030 $ 27,006 $ 12,159 $ 9,989 $ 28,848 $ — $ 103,324 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Consumer Performing $ — $ — $ — $ — $ — $ 5,493 $ 16 $ 5,509 Nonperforming — — — — — — — — $ — $ — $ — $ — $ — $ 5,493 $ 16 $ 5,509 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — An analysis of the credit risk profile by internally assigned grades under the incurred loss model as of December 31, 2022 is as follows: December 31, 2022 Pass OAEM Substandard Doubtful Total (Dollars in thousands) Commercial and Industrial $ 32,383 $ — $ — $ — $ 32,383 Construction 191,266 — 1,091 — 192,357 Real Estate Mortgage: Commercial – Owner Occupied 122,523 3,027 400 — 125,950 Commercial – Non-owner Occupied 362,899 — 14,553 — 377,452 Residential – 1 to 4 Family 920,868 — 162 — 921,030 Residential – Multifamily 95,556 — — — 95,556 Consumer 6,661 — 70 — 6,731 Total $ 1,732,156 $ 3,027 $ 16,276 $ — $ 1,751,459 Modifications to Borrowers Experiencing Financial Difficulty At December 31, 2023, the Company did not make any modifications to borrowers experiencing financial difficulty. The following table provides detail on impaired loans and the associated ALLL at December 31, 2022: December 31, 2022 Recorded Unpaid Related (Dollars in thousands) With no related allowance recorded: Commercial and Industrial $ — $ — $ — Construction 1,091 5,808 — Real Estate Mortgage: Commercial – Owner Occupied — — — Commercial – Non-owner Occupied 11,116 11,116 — Residential – 1 to 4 Family 162 162 — Residential – Multifamily — — — Consumer 70 70 — 12,439 17,156 — With an allowance recorded: Commercial and Industrial — — — Construction — — — Real Estate Mortgage: Commercial – Owner Occupied 587 587 31 Commercial – Non-owner Occupied 8,452 8,452 500 Residential – 1 to 4 Family 255 255 18 Residential – Multifamily — — — Consumer — — — 9,294 9,294 549 Total: Commercial and Industrial — — — Construction 1,091 5,808 — Real Estate Mortgage: Commercial – Owner Occupied 587 587 31 Commercial – Non-owner Occupied 19,568 19,568 500 Residential – 1 to 4 Family 417 417 18 Residential – Multifamily — — — Consumer 70 70 — $ 21,733 $ 26,450 $ 549 The following table presents by loan portfolio class, the average recorded investment and interest income recognized on impaired loans for the year ended December 31, 2022: 2022 Average Interest (Dollars in thousands) Commercial and Industrial $ 114 $ — Construction 1,129 — Real Estate Mortgage: Commercial – Owner Occupied 1,772 31 Commercial – Non-owner Occupied 11,108 645 Residential – 1 to 4 Family 541 20 Residential – Multifamily — — Consumer 42 1 Total $ 14,706 $ 697 At December 31, 2022, we reported performing TDR loans (not reported as non-accrual loans) of $5.5 million. Non-performing TDRs were zero at December 31, 2022. There were no new loans modified as a TDR and no additional commitments to lend additional funds to debtors whose loans have been modified in TDRs for the year ended December 31, 2022. Loans to Related Parties : In the normal course of business, the Company has granted loans to its executive officers, directors and their affiliates (related parties). All loans to related parties were made in the ordinary course of business. An analysis of the activity of such related party loans for 2023 is as follows: 2023 (Dollars in thousands) Balance, beginning of year $ 843 Advances 301 Less: repayments (448) Balance, end of year $ 696 Pledged Loans: At December 31, 2023 and 2022, approximately $1.3 billion and $923.0 million, respectively, of unpaid principal balance of loans were pledged to the FHLBNY on borrowings (Note 7). This pledge consists of a blanket lien on residential mortgages and certain qualifying commercial real estate loans. Concentrations of Credit

OREO

OREO	12 Months Ended
	Dec. 31, 2023
Real Estate [Abstract]
OREO	OREO Other real estate owned (OREO) at December 31, 2023 was $1.6 million, compared to $1.6 million at December 31, 2022. The real estate owned at December 31, 2023, consisted of two properties. During 2023, the Company disposed of $161.0 thousand of OREO, recognizing a gain of $38.0 thousand, compared to $2.4 million of OREO sold in 2022, recognizing a gain of $328.0 thousand. The Company did not write-down any OREO property during 2023 or 2022. Operating expenses related to OREO, net of related income, for 2023 and 2022, were $839.0 thousand and $493.0 thousand, respectively. An analysis of OREO activity for the years ended December 31, 2023 and 2022 is as follows: For the Year Ended 2023 2022 (Dollars in thousands) Balance at beginning of period $ 1,550 $ 1,654 Real estate acquired in settlement of loans 123 1,994 Sales of OREO, net (161) (2,426) Valuation adjustments 38 328 Balance at end of period $ 1,550 $ 1,550

Deposits

Deposits	12 Months Ended
	Dec. 31, 2023
Deposits [Abstract]
Deposits	Deposits Deposits at December 31, 2023 and 2022, consisted of the following: 2023 2022 (Dollars in thousands) Noninterest-bearing demand $ 232,189 $ 352,546 NOWs 63,017 83,080 Money market deposits 567,080 348,680 Savings deposits 83,470 188,540 Time deposits over $250,000 93,696 119,009 Other time deposits 356,791 373,689 Brokered time deposits 156,584 110,437 Total deposits $ 1,552,827 $ 1,575,981 Scheduled maturities of certificates of deposit at December 31, 2023 are as follows: Years Ending December 31, (Dollars in thousands) 2024 $ 567,442 2025 28,327 2026 8,363 2027 2,723 2028 216 Total $ 607,071 The following table is a summary of interest expense on deposits by category: 2023 2022 (Dollars in thousands) NOWs $ 1,377 $ 417 Money market deposits 17,120 3,927 Savings deposits 1,486 905 Time deposits 15,232 4,890 Brokered time deposits 6,044 932 Total $ 41,259 $ 11,071

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Borrowings	Borrowings An analysis of borrowings at December 31, 2023 and 2022 is as follows: 2023 2022 Maturity Date or Range Amount Weighted Amount Weighted (Dollars in thousands, except rates) Borrowed funds: Federal Home Loan Bank advances Less than one year $ 30,000 5.61 % $ 83,150 1.84 % One to three years 95,000 4.93 % — — % Total $ 125,000 $ 83,150 Subordinated debentures, capital trusts November 2035 $ 5,155 7.30 % $ 5,155 6.35 % November 2035 5,155 7.30 % 5,155 6.35 % September 2037 3,093 7.15 % 3,093 6.27 % Total $ 13,403 $ 13,403 Subordinated debentures notes, net July 15, 2030 $ 29,708 6.50 % $ 29,518 6.50 % At December 31, 2023, the Company had a $944.4 million line of credit from the FHLBNY, of which $125.0 million, as detailed above, was outstanding, $50.0 million was a letter of credit to secure public deposits, and $769.4 million was unused. Subordinated Debentures – Capital Trusts : On August 23, 2005, Parke Capital Trust I, a Delaware statutory business trust and a wholly-owned subsidiary of the Company, issued $5,000,000 of variable rate capital trust pass-through securities to investors. The variable interest rate re-prices quarterly at the three-month SOFR plus a spread adjustment of 0.26161% plus 1.66% and was 7.30% at December 31, 2023. Parke Capital Trust I purchased $5,155,000 of variable rate junior subordinated deferrable interest debentures from the Company. The debentures are the sole asset of the Trust. The terms of the junior subordinated debentures are the same as the terms of the capital securities. The Company has also fully and unconditionally guaranteed the obligations of the Trust under the capital securities. The capital securities are redeemable by the Company on or after November 23, 2010, at par. The capital securities must be redeemed upon final maturity of the subordinated debentures on November 23, 2035. Proceeds of approximately $4.2 million were contributed to paid-in capital at the Bank. The remaining $955,000 was retained at the Company for future use. On August 23, 2005, Parke Capital Trust II, a Delaware statutory business trust and a wholly-owned subsidiary of the Company, issued $5,000,000 of fixed/variable rate capital trust pass-through securities to investors. Currently, the interest rate is variable at 7.30%. The variable interest rate re-prices quarterly at the three-month SOFR plus a spread adjustment of 0.26161% plus 1.66% beginning November 23, 2010. Parke Capital Trust II purchased $5,155,000 of variable rate junior subordinated deferrable interest debentures from the Company. The debentures are the sole asset of the Trust. The terms of the junior subordinated debentures are the same as the terms of the capital securities. The Company has also fully and unconditionally guaranteed the obligations of the Trust under the capital securities. The capital securities are redeemable by the Company on or after November 23, 2010, at par. The capital securities must be redeemed upon final maturity of the subordinated debentures on November 23, 2035. Proceeds of approximately $4.2 million were contributed to paid-in capital at the Bank. The remaining $955,000 was retained at the Company for future use. On June 21, 2007, Parke Capital Trust III, a Delaware statutory business trust and a wholly-owned subsidiary of the Company, issued $3,000,000 of variable rate capital trust pass-through securities to investors. The variable interest rate re-prices quarterly at the three-month SOFR plus a spread adjustment of 0.26161% plus 1.50% and was 7.15% at December 31, 2023. Parke Capital Trust III purchased $3,093,000 of variable rate junior subordinated deferrable interest debentures from the Company. The debentures are the sole asset of the Trust. The terms of the junior subordinated debentures are the same as the terms of the capital securities. The Company has also fully and unconditionally guaranteed the obligations of the Trust under the capital securities. The capital securities are redeemable by the Company on or after December 15, 2012, at par. The capital securities must be redeemed upon final maturity of the subordinated debentures on September 15, 2037. The proceeds were contributed to paid-in capital at the Bank. Subordinated Debentures – Notes : On July 15, 2020, Parke Bancorp, Inc. (the “Company”) issued and sold $30 million in aggregate principal amount of its 6.50% Fixed-to-Floating Rate Subordinated Notes due 2030 (the “Notes”) to certain qualified institutional buyers and accredited investors (the “Purchasers”). The Notes were offered and sold by the Company to eligible purchasers in a private offering in reliance on the exemption from the registration requirements of Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and the provisions of Regulation D promulgated thereunder (the “Private Placement”). The Company intends to use the net proceeds from the offering for general corporate purposes. The Notes have a ten-year term and, from and including the date of issuance to but excluding July 15, 2025, will bear interest at a fixed annual rate of 6.50%, payable semi-annually in arrears. From and including July 15, 2025 to but excluding the maturity date or earlier redemption date, the interest rate shall reset quarterly to an interest rate per annum equal to the then-current three-month SOFR (provided, that in the event the three-month SOFR is less than zero, the three-month SOFR will be deemed to be zero) plus 644 basis points, payable quarterly in arrears. The Notes are redeemable, in whole or in part, at the Company’s option, on any scheduled interest payment date on or after July 15, 2025, and at any time upon the occurrence of certain events. Any redemption of the Notes will be subject to prior regulatory approval to the extent required. There were approximately $948,000 in costs associated with the issuance of this debt.

Premises and Equipment

Premises and Equipment	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Premises and Equipment	Premises and Equipment A summary of the cost and accumulated depreciation and amortization of Company premises and equipment as of December 31, 2023 and 2022 is as follows: 2023 2022 (Dollars in thousands) Land $ 1,044 $ 1,044 Building and improvements 7,275 7,282 Furniture and equipment 3,946 4,044 Total premises and equipment 12,265 12,370 Less: accumulated depreciation and amortization (6,686) (6,412) Premises and equipment, net $ 5,579 $ 5,958 Depreciation and amortization expense was $401,000 and $457,000 in 2023 and 2022, respectively.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Leases We lease three retail branches, a loan office, and a parcel of land for a retail branch location. These leases generally have remaining terms of 10 years or less except the land lease, which has a remaining lease term of eighty-two years. Some of the leases may include options to renew the leases. The exercise of lease renewal is at our sole discretion. Our right-of-use assets and lease liabilities for operating leases are included in other assets and other liabilities on our consolidated balance sheets. We use the interest rate implicit in the lease or incremental borrowing rate in determining the present value of lease payments. At December 31, 2023, we had future minimum lease payments of $27.3 million and imputed interest of $24.9 million and lease liability of $2.5 million. The weighted average remaining lease term was 48.1 years and weighted average discount rate was 7.21% at December 31, 2023, respectively. Our operating lease expense is included in occupancy expenses within non-interest expense in our consolidated statements of income. Total operating lease expense consists of operating lease cost, which is recognized on a straight-line basis over the lease term, and variable lease cost, which is recognized based on actual amounts incurred. The following table presents information about our operating leases at the year ended December 31, 2023. Dollars in thousands 2023 Lease right of use assets (ROU) $ 2,455 Lease liabilities $ 2,455 The following table presents future undiscounted cash flows on our operating leases: Years Ending December 31, (Dollars in thousands) 2024 $ 360 2025 365 2026 283 2027 187 2028 192 Thereafter 25,922 Total undiscounted lease payments $ 27,309 Impact of present value discount $ (24,854)

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity Common Stock Dividend : The Company paid a $0.18 per share dividend each quarter 2023. During 2023, the Company paid a total of $8.6 million in common stock cash dividends. The Company paid a $0.16 per share quarterly dividend for the first and second quarters, and a $0.18 per share quarterly dividend for the third and fourth quarters of 2022. During 2022, the Company paid a total of $7.9 million in common stock cash dividends. The timing and amount of future dividends will be within the discretion of the Board of Directors and will depend on the consolidated earnings, financial condition, liquidity, and capital requirements of the Company and its subsidiaries, applicable governmental regulations and policies, and other factors deemed relevant by the Board. Treasury Stock : No treasury stock was repurchased during 2023 and 2022. Stock Options : After shareholder approval in 2020, the 2020 Equity Incentive Plan (the “2020 Plan”) became effective. In addition, the Company also has the 2015 Equity Incentive Plan (the “2015 Plan”). No future awards are being granted under the 2015 Plan. The 2020 Plan will terminate on the tenth anniversary of its effective date, after which no awards may be granted. Collectively, the 2015 Plan and the 2020 Plan are referred to as Stock Option Plans. Under the 2020 Plan, the Company may grant options to purchase up to 935,000 shares of Company's common stock and award up to 55,000 of restricted stock. At December 31, 2023, there were 455,000 shares remaining for future option grants, and 48,482 shares remaining for future restricted stock awards under the plan. During 2022, options to purchase 202,500 shares of common stock at $21.66 per share were awarded and will expire no later than ten years following the grant date. The options granted vest over a five-year service period, with 20% of the awards vesting on each anniversary of the date of grant. The fair value of the options granted, as computed using the Black-Sholes option-pricing model, was determined to be $4.96 per option based upon the following underlying assumptions: a risk-free interest rate, expected option life, expected stock price volatility, and dividend yield of 3.25%, 6.5 years, 27.07%, and 2.95%. respectively. The risk-free interest rate was based on the U.S. Treasury yield at the option grant date for securities with a term matching the expected life of the options granted. The expected life was calculated using the "simplified" method provided for under Staff Accounting Bulletin No. 110. Expected volatility was calculated based upon the actual price history of the Company's common stock up until the date of the option grants. The dividend yield was calculated using the previous four quarter payment history. The Company did not grant any options in 2023. Compensation expense for stock options was $397.8 thousand, and $348.7 thousand at December 31, 2023 and 2022, respectively. A summary of stock options at December 31, 2023 and 2022 was as follows: Year Ended Stock Options: Shares Weighted Average Exercise Price Outstanding at beginning of period 689,127 $15.93 Granted — $— Exercised (3,782) $8.95 Forfeited (4,000) $21.66 Outstanding at end of period 681,345 $15.94 Exercisable at end of period 470,349 $14.90 The total amount of compensation cost remaining to be recognized relating to unvested employees and directors option grants as of December 31, 2023 was $0.9 million. The weighted-average period over which the expense is expected to be recognized is 3.4 years. At December 31, 2023, the intrinsic value of options exercisable and all options outstanding was approximately $2.7 million and $3.1 million, respectively. The aggregate intrinsic value of options exercised in 2023 was $45.0 thousand. The total amount of compensation cost remaining to be recognized relating to unvested option grants as of December 31, 2022 was $1.3 million. The weighted-average period over which the expense is expected to be recognized was 4.2 years. At December 31, 2022, the intrinsic value of options exercisable and all options outstanding was approximately $1.7 million and $3.3 million, respectively. The aggregate intrinsic value of options exercised in 2022 was $508.6 thousand. Under the 2020 Plan, the Company was authorized to issue 55,000 shares of restricted stock upon the grant of awards. All restricted stocks vests over five years. The table below presents the status of the restricted stock units at December 31, 2023, and the changes during the year ended December 31, 2023. Restricted Stock Units Weighted Average Grant-Date Fair Value Outstanding and unvested at December 31, 2022 5,691 19.69 Granted — Vested (2,022) 19.77 Outstanding and unvested at December 31, 2023 3,669 19.64 The Company recognized $40,006 and $46,007 compensation costs of the restricted shares during year 2023 and 2022. The total amount of restricted stock expense remaining to be recognized is $72.0 thousand at December 31, 2023. Preferred Stock: In December of 2013, the Company completed a private placement of newly designated 6% Non-Cumulative Perpetual Convertible Preferred Stock, Series B, with a liquidation preference of $1,000 per share. The Company sold 20,000 shares in the placement for gross proceeds of $20.0 million. Each share of Series B Preferred Stock is convertible, at the option of the holder into approximately 137.6 shares of Common Stock at December 31, 2023. There were 375 shares of Series B Preferred Stock outstanding at December 31, 2023. Upon full conversion of the outstanding shares of the Series B Preferred Stock, the Company will issue approximately 51,600 shares of Common Stock assuming that the conversion rate does not change. The conversion rate and the total number of shares to be issued would be adjusted for future stock dividends, stock splits and other corporate actions. The conversion rate was set using a conversion price for the common stock of $10.64, which was approximately 20% over the closing price of the Common Stock on October 10, 2013, the day the Series B Preferred Stock was priced. During 2023, preferred stockholders converted 70 shares of preferred shares into 9,628 shares of common stock, respectively. There were no preferred shares converted to common stock during 2022. The Company has recorded dividends on preferred stock in the approximate amount of $26,000 and $27,000 for the years ended December 31, 2023 and 2022, respectively. The Company paid quarterly cash dividends of $15 per share on the preferred stock for year 2023. The preferred stock qualifies for and is accounted for as equity securities and is included in the Company’s Tier I capital since issued.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense for 2023 and 2022 consisted of the following: 2023 2022 (Dollars in thousands) Current tax expense: Federal $ 6,886 $ 12,696 State 2,336 2,865 9,222 15,561 Deferred tax expense/(benefit) 6 (1,308) Income tax expense $ 9,228 $ 14,253 The components of the net deferred tax asset at December 31, 2023 and 2022 were as follows: 2023 2022 (Dollars in thousands) Deferred tax assets: Allowance for credit losses $ 7,575 $ 7,758 Supplemental Executive Retirement Plan ("SERP") 1,636 1,537 Deferred Loan Fees 1,322 1,254 Nonaccrued interest 58 67 Non-qualified stock options and restricted stock 318 210 Write-down on partnership investment 138 133 Unrealized loss on securities 140 183 PPP Deferred Loan Fees 1 4 Other 210 54 11,398 11,200 Valuation allowance (138) (133) Total gross deferred tax assets 11,260 11,067 Deferred tax liabilities: Depreciation (71) (79) Partnership income (58) (55) Deferred loan costs (1,869) (1,749) Total gross deferred tax liabilities (1,998) (1,883) Net deferred tax asset $ 9,262 $ 9,184 A reconciliation of the Company’s effective income tax rate with the statutory federal rate for 2023 and 2022 is as follows: 2023 2022 (Dollars in thousands) At Federal statutory rate $ 7,915 $ 11,776 Adjustments resulting from: State income taxes, net of Federal tax benefit 1,557 2,400 Non-controlling interest — — Tax exempt income (20) (22) BOLI (155) (119) Stock compensation (8) (89) Nondeductible expenses 1 1 Nondeductible executive compensation 84 84 Other (146) 222 $ 9,228 $ 14,253 Management has evaluated the Company’s tax positions and concluded that the Company has taken no uncertain tax positions that require adjustments to the financial statements. With few exceptions, the Company is no longer subject to income tax examinations by federal and local tax authorities for years before 2020, and by the State of New Jersey for years before 2019. The Company is still subject to examination for 2020 and after.

Retirement Plans

Retirement Plans	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Retirement Plans	Retirement Plans The Company has a Supplemental Executive Retirement Plan (“SERP”) covering certain members of management. The net SERP pension cost was approximately $367.0 thousand in 2023 and $449.0 thousand in 2022. The unfunded benefit obligation, which was included in other liabilities, was approximately $6.4 million at December 31, 2023 and $6.3 million at December 31, 2022. The benefit obligation at December 31, 2023 and December 31, 2022 was calculated as follows: 2023 2022 (Dollars in thousands) Benefit obligation, January 1 $ 6,311 $ 6,101 Service cost/(benefit) 27 121 Interest cost 340 328 Benefits paid (239) (239) Accrued liability at December 31 $ 6,439 $ 6,311 The net SERP pension cost for 2023 and benefit for 2022 was calculated as follows: 2023 2022 (Dollars in thousands) Service cost $ 27 $ 121 Interest cost 340 328 $ 367 $ 449 The service cost for 2023 and 2022 are included in the compensation cost in the income statement. The discount rate used in determining the actuarial present value of the projected benefit obligation was 5.5% for 2023 and 2022. Annual benefit payments are estimated at $525,696 for 2024, $812,346 for 2025, $812,346 for 2026, $812,346 for 2027, $812,346 for 2028 and $4.9 million thereafter. The Company has a 401(k) Plan covering substantially all employees. Under the Plan, the Company is required to contribute 3% of all qualifying employees’ eligible salary to the Plan. The Plan expense in 2023 was $243.0 thousand and $246.0 thousand in 2022.

Regulatory Matters

Regulatory Matters	12 Months Ended
	Dec. 31, 2023
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]
Regulatory Matters	Regulatory Matters Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can result in regulatory action. Under the Basel III rules, the Company must hold a capital conservation buffer above the adequately capitalized risk-based capital ratios. The capital conservation buffer is 2.50%. The Bank made a one-time election to opt-out the net unrealized gain or loss on available for sale securities in computing regulatory capital. At December 31, 2023, the Bank was considered “well capitalized" under the regulatory framework for prompt corrective action. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. At year-end 2023 and 2022 the most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the institution's category. Community Bank Leverage Ratio The Economic Growth, Regulatory Relief and Consumer Protection Act (“EGRRCPA”), enacted in May 2018, introduced an optional simplified measure of capital adequacy for qualifying community banking organizations with total consolidated assets of less than $10 billion by instructing the federal banking regulators to establish a single “Community Bank Leverage Ratio” of tangible equity capital divided by average consolidated assets (“CBLR”) of between 8 and 10 percent. Under the statute, any qualifying depository institution or holding company that maintains a leverage ratio exceeding the CBLR will be considered to satisfy the generally applicable leverage and risk-based regulatory capital requirements. Under final regulations adopted by the federal banking agencies under the EGRRCPA, a community banking organization may opt into the CBLR framework if it has a Tier 1 leverage ratio of at least 9%, less than $10 billion in total consolidated assets, and limited amounts of off-balance-sheet exposures and trading assets and liabilities. A qualifying community banking organization that opts into the CBLR framework will not be required to report or calculate compliance with risk-based capital requirements and will also be considered to have met the well-capitalized ratio requirements under the prompt corrective action regulations. We have elected to use the CBLR framework and is presented as of December 31, 2023. The Company and Bank's regulatory capital as of December 31, 2023 and 2022, is presented in the following table. As of December 31, 2023 Actual For Capital Adequacy Purpose* Company Amount Ratio Amount Ratio (Dollars in thousands except ratios) Total risk-based capital $ 345,607 24.19% $ 114,291 8.00% Tier 1 risk-based capital 297,749 20.84% 85,718 6.00% Tier 1 leverage 297,749 15.04% 79,207 4.00% Tier 1 common equity 284,346 19.90% 64,289 4.50% Parke Bank Community Bank Leverage Ratio 326,465 16.49% 178,233 9.00% As of December 31, 2022 Actual For Capital Adequacy Purpose* Company Amount Ratio Amount Ratio (Dollars in thousands except ratios) Total risk-based capital $ 298,056 20.59% $ 115,797 8.00% Tier 1 risk-based capital 279,963 19.34% 86,848 6.00% Tier 1 leverage 279,963 14.40% 77,775 4.00% Tier 1 common equity 266,115 18.38% 65,136 4.50% Parke Bank Community Bank Leverage Ratio 308,155 15.85% 175,009 9.00% * Combination of both community bank leverage approach and the regular rule of capital adequacy.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated balance sheet. The contract or notional amounts of these instruments reflect the extent of the Company’s involvement in these particular classes of financial instruments. The Company’s exposure to the maximum possible credit risk in the event of nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contractual or notional amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require the payment of a fee. The Company evaluates each customer’s credit-worthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary upon extension of credit, is based on management’s credit evaluation. Collateral held varies but may include accounts receivable; inventory; property, plant and equipment and income-producing commercial properties. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Commitments to fund fixed-rate loans were immaterial at December 31, 2023. Variable-rate commitments are generally issued for less than one year and carry market rates of interest. Such instruments are not likely to be affected by annual rate caps triggered by rising interest rates. Management believes that off-balance sheet risk is not material to the results of operations or financial condition. As of December 31, 2023 and 2022, unused commitments to extend credit amounted to approximately $93.8 million and $159.0 million, respectively. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. As of December 31, 2023 and 2022, standby letters of credit with customers were $1.5 million and $1.5 million, respectively. On January 1, 2023, upon the adoption of ASU 2016-13, we recognized $1.0 million cumulative effect decrease to retained earnings for the allowance for credit losses of unfunded lending commitments. At December 31, 2023 and December 31, 2022, the allowance for credit losses of unfunded lending commitments was $0.5 million and zero, respectively. A provision recovery for unfunded lending commitments of $0.5 million was recognized during the year ended December 31, 2023, while there was no provision expense recognized in during the year ended December 31, 2022. The Company also has entered into an employment contract with the President of the Company, which provides for continued payment of certain employment salary and benefits prior to the expiration date of the agreement and in the event of a change in control, as defined. The Company has also entered into Change-in-Control Severance Agreements with certain officers which provide for the payment of severance in certain circumstances following a change in control. We provide banking services to customers that are licensed by various States to do business in the cannabis industry as growers, processors and dispensaries. Cannabis businesses are legal in these States, although it is not legal at the federal level. The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) published guidelines in 2014 for financial institutions servicing state legal cannabis businesses. A financial institution that provides services to cannabis-related businesses can comply with Bank Secrecy Act (“BSA”) disclosure standards by following the FinCEN guidelines. We maintain stringent written policies and procedures related to the acceptance of such businesses and to the monitoring and maintenance of such business accounts. We conduct a significant due diligence review of the cannabis business before the business is accepted, including confirmation that the business is properly licensed by the applicable state. Throughout the relationship, we continue monitoring the business, including site visits, to ensure that the business continues to meet our stringent requirements, including maintenance of required licenses and periodic financial reviews of the business. While we believe we are operating in compliance with the FinCEN guidelines, there can be no assurance that federal enforcement guidelines will not change. Federal prosecutors have significant discretion and there can be no assurance that the federal prosecutors will not choose to strictly enforce the federal laws governing cannabis. Any change in the Federal government’s enforcement position, could cause us to immediately cease providing banking services to the cannabis industry. At December 31, 2023 and 2022, deposit balances from cannabis customers were approximately $96.7 million and $177.3 million, or 6.2% and 11.3% of total deposits, respectively, with three customers accounting for 60.6% and 36.9% of the total at December 31, 2023 and 2022. At December 31, 2023 and 2022, there were cannabis-related loans in the amounts of $27.1 million and $3.8 million, respectively. Absecon Gardens Condominium Association v. Parke Bank Matter Absecon Gardens Condominium Association v. Parke Bank, One Mechanic Street, et al, Superior Court of New Jersey, Law Division, Atlantic County, Docket No. ATL-L-2321-21. The Company is the successor to the interests of the developer of the Absecon Gardens Condominium project in Absecon NJ. Some of the unit owners have suggested that the Company is responsible for contributions and/or repair for alleged damages purportedly relating to construction. The owners filed a Complaint, alleging that the damages total approximately $1.7 million. The matter is in the early stages of discovery so it is difficult to determine whether that amount accurately reflects the claimed damages, or whether the Company is in any way culpable for the damages. At this time it is too early to predict whether an unfavorable outcome will result. The Company is vigorously defending this matter. Mori Restaurant LLC v. Parke Bank Matter On May 20, 2014, Parke Bank (the "Bank") loaned Voorhees Diner Corporation ("VDC") the original principal sum of $1.0 million for purposes of tenant fit out, and operation, of the Voorhees Diner situated at 320 Route 73, Voorhees, New Jersey 08043. VDC leased the Diner property under that certain Lease with Mori Restaurant LLC ("Mori") dated May 20, 2014. In connection with the loan from the Bank and as security therefor, VDC pledged its leasehold interest to the Bank. On March 6, 2015, the loan was modified, and the principal amount of the loan was increased to $1.4 million. On January 8, 2020, the Bank declared VDC in default of its loan obligations. Judgment was entered against VDC and in favor of the Bank, and the court appointed Alan I. Gould, Esquire, as the Receiver for the Voorhees Diner Corporation. Mr. Gould subsequently caused VDC's leasehold interest in the Diner property to be sold at sheriffs sale. The Bank's REO subsidiary, 320 Route 73 LLC, was the successful bidder and took title thereto. Mori Restaurant has filed counterclaims against 320 Route 73 LLC and the Bank for rent allegedly accruing due during the period that the Receiver was in possession of the premises. As to all of Mori Restaurant’s claims, the Bank defendants’ primary, but not exclusive, defense in this matter is that, pursuant to that certain Fee Owner Consent executed by and between Mori Restaurant and the Bank, in November 2014, the lease between VDC and Mori Restaurant was terminated as a matter of law and neither the Bank nor 320 Route 73 LLC have liability to Mori Restaurant under the lease or otherwise. The Bank believes this suit is without merit, denies any and all liability and intends to vigorously defend against this matter. In the normal course of business, there are outstanding various contingent liabilities such as claims and legal action, which are not reflected in the financial statements. In the opinion of management, no material losses are anticipated as a result of these actions or claims.

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value	Fair Value Fair Value Measurements The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In accordance with the Fair Value Measurements and Disclosures (Topic 820) of FASB Accounting Standards Codification, the fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company's various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. Fair value is a market-based measurement, not an entity-specific measurement. The fair value guidance provides a consistent definition of fair value, which focuses on exit price in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions. In accordance with this guidance, the Company groups its assets and liabilities carried at fair value in three levels as follows: Level 1 Input: 1) Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 Inputs: 1) Quoted prices for similar assets or liabilities in active markets. 2) Quoted prices for identical or similar assets or liabilities in markets that are not active. 3) Inputs other than quoted prices that are observable, either directly or indirectly, for the term of the asset or liability (e.g., interest rates, yield curves, credit risks, prepayment speeds or volatilities) or “market corroborated inputs.” Level 3 Inputs: 1) Prices or valuation techniques that require inputs that are both unobservable (i.e. supported by little or no market activity) and that are significant to the fair value of the assets or liabilities. 2) These assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Fair Value on a Recurring Basis: The following is a description of the Company’s valuation methodologies for assets carried at fair value on a recurring basis. These methods may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Company believes that its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting measurement date. Investments in Available for Sale Securities: Where quoted prices are available in an active market, securities or other assets are classified in Level 1 of the valuation hierarchy. If quoted market prices are not available for the specific security, then fair values are provided by independent third-party valuation services. These valuation services estimate fair values using pricing models and other accepted valuation methodologies, such as quotes for similar securities and observable yield curves and spreads. As part of the Company’s overall valuation process, management evaluates these third-party methodologies to ensure that they are representative of exit prices in the Company’s principal markets. Securities in Level 2 include mortgage-backed securities, corporate debt obligations, and collateralized mortgage-backed securities. The table below presents the balances of assets and liabilities measured at fair value on a recurring basis at December 31, 2023 and 2022. F inancial Assets Level 1 Level 2 Level 3 Total (Dollars in thousands) Investment securities available for sale As of December 31, 2023 Residential mortgage-backed securities — 7,095 — 7,095 Total $ — $ 7,095 $ — $ 7,095 As of December 31, 2022 Corporate debt obligations $ — $ 500 $ — $ 500 Residential mortgage-backed securities — 8,866 — 8,866 Collateralized mortgage-backed securities — — — — Total $ — $ 9,366 $ — $ 9,366 For the year ended December 31, 2023, there were no transfers between the levels within the fair value hierarchy. There were no level 3 assets or liabilities held for the year ended at December 31, 2023 and December 31, 2022. Fair Value on a Non-Recurring Basis: Certain assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Financial Assets Level 1 Level 2 Level 3 Total (Dollars in thousands) As of December 31, 2023 Collateral dependent loans $ — $ — $ 1,655 $ 1,655 OREO $ — $ — $ 1,550 $ 1,550 As of December 31, 2022 Collateral dependent loans $ — $ — $ 1,091 $ 1,091 OREO $ — $ — $ 1,550 $ 1,550 All collateral dependent individually evaluated loans have an independent third-party full appraisal to determine the NRV based on the fair value of the underlying collateral, less cost to sell (a range of 5% to 10%) and other costs, such as unpaid real estate taxes, that have been identified. The appraisal will be based on an "as-is" valuation and will follow a reasonable valuation method that addresses the direct sales comparison, income, and cost approaches to market value, reconciles those approaches, and explains the elimination of each approach not used. Appraisals are updated every 12 months or sooner if we have identified possible further deterioration in value. OREO consists of real estate properties which are recorded at fair value. All properties have an independent third-party full appraisal to determine the fair value, less cost to sell (a range of 5% to 10%) and other costs, such as unpaid real estate taxes, that have been identified. The appraisal will be based on an "as-is" valuation and will follow a reasonable valuation method that addresses the direct sales comparison, income, and cost approaches to market value, reconciles those approaches, and explains the elimination of each approach not used. Appraisals are updated every 12 months or sooner if we have identified possible further deterioration in value. The following table summarizes the carrying amounts and fair values for financial instruments at December 31, 2023 and December 31, 2022: December 31, 2023 Carrying Amount Fair Value Total Level 1 Level 2 Level 3 (Dollars in thousands) Financial Assets: Cash and cash equivalents $ 180,376 $ 180,376 $ 180,376 $ — $ — Investment securities AFS 7,095 7,095 — 7,095 — Investment securities HTM 9,292 7,892 — 7,892 — Restricted stock 7,636 7,636 — — 7,636 Loans, net 1,755,209 1,727,842 — 1,718,866 8,976 Accrued interest receivable 8,555 8,555 — 8,555 — Financial Liabilities: Non-time deposits $ 945,756 $ 945,756 $ 945,756 $ — $ — Time deposits — 605,216 — 605,216 — Borrowings 168,111 172,985 — 172,985 — Accrued interest payable 4,146 4,146 — 4,146 — December 31, 2022 Carrying Amount Fair Value Total Level 1 Level 2 Level 3 (Dollars in thousands) Financial Assets: Cash and cash equivalents $ 182,150 $ 182,150 $ 182,150 $ — $ — Investment securities AFS 9,366 9,366 — 9,366 — Investment securities HTM 9,378 7,805 — 7,805 — Restricted stock 5,439 5,439 — — 5,439 Loans, net 1,719,614 1,661,974 — 1,641,444 20,530 Accrued interest receivable 8,768 8,768 — 8,768 — Financial Liabilities: Non-time deposits $ 972,846 $ 972,846 $ — $ 972,846 $ — Time deposits 603,135 609,097 — 609,097 — Borrowings 126,071 127,254 — 127,254 — Accrued interest payable 2,664 2,664 — 2,664 —

Parent Company Only Financial S

Parent Company Only Financial Statements	12 Months Ended
	Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]
Parent Company Only Financial Statements	Parent Company Only Financial Statements Condensed financial information of the parent company only is presented in the following two tables: Balance Sheets December 31, 2023 2022 (Dollars in thousands) Assets: Cash $ 4,111 $ 4,059 Investments in subsidiaries 326,464 308,030 Total assets $ 330,575 $ 312,089 Liabilities and Equity: Subordinated debentures $ 43,111 $ 42,921 Other liabilities 3,147 3,134 Equity 284,317 266,034 Total liabilities and equity $ 330,575 $ 312,089 Statements of Income Years ended December 31, 2023 2022 (Dollars in thousands) Income: Dividends from bank subsidiary $ 11,772 $ 10,766 Total income 11,772 10,766 Expense: Interest on subordinated debentures $ 3,048 $ 2,586 Salary 160 160 Other expenses 118 118 Total expenses 3,326 2,864 Net Income 8,446 7,902 Equity in undistributed income of subsidiaries 20,016 33,921 Net income 28,462 41,823 Preferred stock dividend and discount accretion (26) (27) Net income available to common shareholders $ 28,436 $ 41,796 Statements of Cash Flows Years ended December 31, 2023 2022 (Dollars in thousands) Cash Flows from Operating Activities Net income $ 28,462 $ 41,823 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed earnings of subsidiaries (20,016) (33,921) Amortization of subordinate debt issuance costs 190 190 Changes in (Increase) decrease in other assets — (2) Increase in accrued interest payable and other accrued 12 55 Net cash provided by operating activities 8,648 8,145 Cash Flows from Financing Activities Proceeds from exercise of stock options 33 406 Payment of dividend on preferred stock and common stock (8,629) (7,886) Net cash used in financing activities (8,596) (7,480) Increase in cash and cash equivalents 52 665 Cash and Cash Equivalents, January 1, 4,059 3,394 Cash and Cash Equivalents, December 31, $ 4,111 $ 4,059

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Business and Basis of Presentation	Business: Parke Bancorp, Inc. (the “Company, we, us, our”) is a bank holding company headquartered in Sewell, New Jersey. Through subsidiaries, the Company provides individuals, corporations and other businesses, and institutions with commercial and retail banking services, principally loans and deposits. The Company was incorporated in January 2005 under the laws of the State of New Jersey for the sole purpose of becoming the holding company of Parke Bank (the "Bank"). The Bank is a commercial bank, which was incorporated on August 25, 1998, and commenced operations on January 28, 1999. The Bank is chartered by the New Jersey Department of Banking and Insurance and its deposits are insured by the Federal Deposit Insurance Corporation. The Bank maintains seven branch offices with its principal office at 601 Delsea Drive, Sewell, New Jersey, and additional branch office locations; 631 Tilton Road, Northfield, New Jersey, 567 Egg Harbor Road, Washington Township, New Jersey, 67 East Jimmie Leeds Road, Galloway Township, New Jersey, 1150 Haddon Avenue, Collingswood, New Jersey, 1610 Spruce Street, Philadelphia, Pennsylvania, and 1032 Arch Street, Philadelphia, Pennsylvania. Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with GAAP. We have reclassified certain prior year amounts to conform to the 2023 presentation, which did not have a material impact on our consolidated financial condition or results of operations. The accounting policies that materially affect the determination of financial position, results of operations and cash flows are summarized below.
Principles of Consolidation	Principles of Consolidation : The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Parke Bank. Parke Capital Trust I, Parke Capital Trust II and Parke Capital Trust III are wholly-owned subsidiaries but are not consolidated because they do not meet the requirements for consolidation under applicable accounting guidance. All material inter-company balances and transactions have been eliminated.
Cash and cash equivalents	Cash and cash equivalents : Consists of cash and due from banks, and interest-bearing deposits and other-short term investments, all of which, if applicable, have stated maturities of three months or less when acquired. Statement of Cash Flows : Cash and cash equivalents include cash and due from financial institutions and federal funds sold. For the purposes of the statement of cash flows, changes in loans and deposits are shown on a net basis.
Investment Securities	Investment Securities : Debt securities are recorded on a trade-date basis. We classify debt securities as held to maturity if we have the positive intent and ability to hold the securities to maturity. We report securities held to maturity on our consolidated balance sheets at carrying value, which generally equals amortized cost. Amortized cost reflects historical cost adjusted for amortization of premiums, accretion of discounts and any previously recorded impairments. Debt securities not classified as held to maturity or trading are designated as securities available for sale ("AFS") and carried at fair value with unrealized gains and losses, net of income taxes, reflected in accumulated other comprehensive income (loss). We did not have any securities classified as trading securities during 2023 or 2022. Interest on debt securities, including amortization of premiums and accretion of discounts, is included in interest income. Premiums and discounts are amortized or accreted to interest income at a constant effective yield over the contractual lives of the securities. Realized gains and losses from the sales of debt securities are determined on a specific security basis. These securities gains/(losses) are included in other noninterest income.
Restricted Stock	Restricted Stock : Restricted stock includes investments in the common stock of the FHLBNY and the Atlantic Central Bankers Bank for which no readily available market exists and, accordingly, is carried at cost. The stocks have no quoted market value and are subject to redemption restrictions. Management reviews these stocks for credit loss based on the ultimate recoverability of the cost basis in the stock. The stocks’ values are determined by the ultimate recoverability of the par value rather than by recognizing temporary declines. Management considers such criteria as the significance of the decline in net assets, if any, the length of time this situation has persisted and the financial performance of the issuers. In addition, management considers any commitments by the FHLBNY to make payments required by law or regulation, the impact of legislative and regulatory changes on the customer base of the FHLBNY and the liquidity position of the FHLBNY.
Loans	Loans : We classify loans as held for investment or held for sale based on our investment strategy and management’s intent and ability with regard to the loans which may change over time. The accounting and measurement framework for loans differs depending on the loan classification. Loans that we have the ability and intent to hold for the foreseeable future or until maturity or pay-off are classified as held for investment. Loans classified as held for investment are reported at their amortized cost, which is the outstanding principal balance, adjusted for any unearned income, unamortized deferred fees and costs, unamortized premiums and discounts and charge-offs. Interest income on the loans is recognized as earned based on contractual interest rates applied to daily principal amounts outstanding. Loan origination fees, direct loan origination costs, and loan premiums and discounts are deferred and accreted or amortized into net interest income using the constant effective yield method, over the contractual life of the loan. Loans originated with the intent to sell or for which we do not have the ability and intent to hold for the foreseeable future are classified as held for sale. Interest on these loans is recognized on an accrual basis. These loans are recorded at the lower of cost or fair value. Our Small Business Administration ("SBA") loans that management has the intention to sell are designated as held for sale and are reported at fair value. Fair value represents the face value of the guaranteed portion of SBA loans pending settlement. Loan origination fees and direct loan origination costs are deferred until the loan is sold and are recognized as part of the total gain or loss on sale. We calculate the gross gain or loss on loan sales as the difference between the proceeds received and the carrying value of the loans sold.
Loan Fees	Loan Fees
Non-accrual Loans, Allowance for Credit Losses on Loans and Leases, Charge-Offs	Non-accrual Loans : Loans are placed on non-accrual status when, in management's opinion, the borrower may be unable to meet contractual payment obligations as they become due, as well as when a loan is 90 days past due, unless the loan is well secured and in the process of collection, as required by regulatory provisions. Loans may be placed on non-accrual status regardless of whether or not such loans are considered past due. When interest accrual is discontinued, all unpaid accrued interest is reversed. Interest income is subsequently recognized only to the extent cash payments are received in excess of principal due. Allowance for Credit Losses on Loans and Leases : The allowance for credit losses represents management’s estimate of expected losses inherent in the Company’s lending activities excluding loans accounted for under fair value. The allowance for credit losses is maintained through charges to the provision for credit losses in the Consolidated Statements of Income as expected losses are estimated. Loans or portions thereof that are determined to be uncollectible are charged against the allowance, and subsequent recoveries, if any, are credited to the allowance. The Company performs periodic reviews of its loan and lease portfolios to identify credit risks and to assess the overall collectability of those portfolios. The Company's allowance for credit losses includes a general component and an asset-specific component for collateral-dependent loans. To determine the asset-specific component of the allowance, the loans are evaluated individually based on the fair value of the underlying collateral. The Company generally measures the asset-specific allowance as the difference between the net realizable value of loan collateral and the recorded investment of a loan. The general component of the allowance evaluates the impairments of pools of the loan portfolio collectively. It incorporates a historical valuation allowance and qualitative allowance. The historical valuation utilizes a vintage loss rate approach utilizing a third party software model. The vintage loss rate approach creates pools of loans based on the segments defined by management, and consists of commercial and industrial, construction, commercial - owner occupied, commercial - non-owner occupied, residential - 1 to 4 family, residential - 1 to 4 family investment, residential - multifamily, and consumer. The loan pools are aggregated by origination year. Charge-offs, net of recoveries, are allocated by the year of charge-off to each loan pool. An average life is prescribed to a pool of loans that were originated in a particular year. The actual charge-offs as a percent of total loans are calculated for each historical year, and projected for future years for each year within the average life time horizon. The sum of the actual charge-offs and projected charge-offs are divided by the average amortized origination amount for each respective year. Those charge-off percentages are added together to obtain an aggregated vintage loss percentage which is then multiplied by the outstanding loan balances to obtain a reserve requirement. The qualitative allowance component is based on general economic conditions and other qualitative risk factors both internal and external to the Company. It is generally determined by evaluating, among other things: (i) the experience, ability and effectiveness of the Bank's lending management and staff; (ii) the effectiveness of the Bank's lending policies, procedures and internal controls;(iii) volume and severity of loan credit quality; (iv) nature and volume of portfolio and term of loans (v) the composition and concentrations of credit; (vi) the effectiveness of the internal loan review system; and (vii) national and local economic trends and conditions, and industry conditions. Management evaluates the degree of risk that each one of these components has on the quality of the loan portfolio on a quarterly basis. Each component is determined to have either a high, high-moderate, moderate, low-moderate or low degree of risk. The results are then input into a "general allocation matrix" to determine an appropriate general valuation allowance. The Company has elected to exclude accrued interest receivable from the measurement of the ACL. When a loan is placed on non-accrual status, any outstanding accrued interest is generally reversed against interest income. The process of determining the level of the allowance for credit losses requires a high degree of estimate and judgment. It is reasonably possible that actual outcomes may differ from our estimates. Allowance for Credit Losses on Lending-Related Commitments : Parke estimates expected credit losses over the contractual period in which it is exposed to credit risk on contractual obligations to extend credit, unless the obligation is unconditionally cancellable by the Company. The allowance for credit losses on lending-related commitments is recorded in other liabilities in the consolidated balance sheet and is recorded as a provision for credit losses in the consolidated income statement. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over their estimated lives. The lifetime loss rates for off-balance sheet credit exposures are calculated in the same manner as on-balance sheet credit exposures, using the same model and economic forecasts, adjusted for the estimated likelihood that funding will occur. Individually Assessed Loans and Leases : ASC 326 provides that a loan or lease is measured individually if it does not share similar risk characteristics with other financial assets. For Parke, loans and leases which are identified to be individually assessed under CECL typically are those that are on non-accrual at the reporting date, and include collateral dependent loans. Collateral Dependent Loans Parke considers a loan to be collateral dependent when foreclosure of the underlying collateral is probable. Parke has also elected to apply the practical expedient to measure expected credit losses of a collateral dependent asset using the fair value of the collateral, less any estimated costs to sell, when foreclosure is not probable but repayment of the loan is expected to be provided substantially through the operation or sale of the collateral, and the borrower is experiencing financial difficulty. Allowance for Credit Losses on Held to Maturity Securities : We follow Accounting Standards Codification (ASC) 326-20, Financial Instruments - Credit Loss - Measured at Amortized Cost , to measure expected credit losses on held-to-maturity debt securities on a collective basis by security investment grade. The estimate of expected credit losses considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. The Company classifies the held-to-maturity debt securities into the following major security types: residential mortgage backed, and state and political subdivisions. These securities are highly rated with a history of no credit losses, and are assigned ratings based on the most recent data from ratings agencies depending on the availability of data for the security. Credit ratings of held-to-maturity debt securities, which are a significant input in calculating the expected credit loss, are reviewed on a quarterly basis. Based on the credit ratings of our held-to-maturity securities and our historical experience including no losses, we have determined that an allowance for credit loss on the held-to-maturity portfolio is not required Accrued interest receivable on held-to-maturity debt securities is excluded from the estimate of credit losses and is included in Accrued interest receivable on the Consolidated Statements of Financial Condition. Allowance for Credit Losses on Available for Sale Securities : We follow ASC 326-30, Financial Instruments - Credit Loss - Available-for-Sale Debt Securities , which provides guidance related to the recognition of and expanded disclosure requirements for expected credit losses on available-for-sale debt securities. For available-for-sale debt securities in an unrealized loss position, the Company first evaluates whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either criteria is met, the security's amortized cost basis is reduced to fair value and recognized as a reduction to non-interest income in the Consolidated Statements of Income. For debt securities available-for-sale which the Company does not intend to sell, or it is not likely the security would be required to be sold before recovery, we evaluate whether a decline in fair value has resulted from credit losses or other adverse factors, such as a change in the security's credit rating. In assessing whether a credit loss exists, the Company compares the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance is recorded, limited to the fair value of the security. Charge-Offs
Concentration of Credit Risk	Concentration of Credit Risk : The Company’s loans are generally to customers in Southern New Jersey, the Philadelphia area of Pennsylvania, and New York, New York. Loans to general building contractors, general merchandise stores, restaurants, motels, warehouse space, and real estate ventures (including construction loans) constitute a majority of commercial loans. The concentrations of credit by type of loan are set forth in Note 4. Generally, loans are collateralized by assets of the borrower and are expected to be repaid from the borrower’s cash flow or proceeds from the sale of selected assets of the borrower.
Other Real Estate Owned (OREO)	Other Real Estate Owned (“OREO”) : Real estate acquired through foreclosure or other proceedings is carried at the lower of cost or estimated fair value, less estimated costs to sell. When a property is acquired, the excess of the loan balance over the estimated fair value is charged to the allowance for credit losses. Costs of improving OREO are capitalized to the extent that the carrying value does not exceed its fair value less estimated selling costs. Subsequent valuation adjustments, declines, if any, are recognized as a charge against current earnings. Holding costs are charged to expense. Gains and losses on sales are recognized in noninterest income as they occur. The OREO balance is included in other assets on the balance sheets.
Interest Rate Risk	Interest Rate Risk : The Company is principally engaged in the business of attracting deposits from the general public and using these deposits, together with other borrowed and brokered funds, to make commercial, commercial mortgage, residential mortgage, and consumer loans, and to invest in overnight and term investment securities. Inherent in such activities is interest rate risk that results from differences in the maturities and repricing characteristics of these assets and liabilities. For this reason, management regularly monitors the level of interest rate risk and the potential impact on net income.
Bank Premises and Equipment	Bank Premises and Equipment five
Lease	Lease:
Share-Based Compensation	Stock-Based Compensation
Revenue recognition	Revenue recognition : Our revenue includes net interest income on financial instruments and non-interest income. Interest income and fees on loans, investment securities, and other financial instruments are recognized based on the contractual provisions of the underlying arrangements according to applicable accounting guidance. Deposit-related-fee-based revenue within the scope of ASC Topic 606 - Revenue from Contracts with Customers (Topic 606) is included in non-interest income in our consolidated statements of income. Our deposit-related-fee-based revenues are recognized when or as those services are transferred to the customer and are generally recognized either immediately upon the completion of our service or over time as we perform services. Any services performed over time generally require that we render services each period and therefore we measure our progress in completing these services based upon the passage of time. Deposit-related fees are recognized over the period in which the related service is provided. Service charges on deposit accounts are earned on depository accounts for customers and include fees for account and overdraft services. Account services include fees for event-driven services and fees for periodic account maintenance activities. Our obligation for event-driven services is satisfied at the time of the event when the service is delivered, while our obligation for maintenance services is satisfied over the course of each month. Our obligation for overdraft services is satisfied at the time of the overdraft.
Income Taxes	Income Taxes : We recognize the current and deferred tax consequences of all transactions that have been recognized in the financial statements using the provisions of the enacted tax laws. Current income tax expense represents our estimated taxes to be paid or refunded for the current period. Deferred tax assets and liabilities are determined based on differences between the financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Thus, at the enactment date, deferred taxes are remeasured and the change is recognized in income tax expense. The recognition of deferred tax assets requires an assessment to determine the realization of such assets. Realization refers to the incremental benefit achieved through the reduction in future taxes payable or refunds receivable. We establish a valuation allowance for tax assets when it is more likely than not that they will not be realized, based upon all available evidence. Realization of deferred tax assets is dependent on generating sufficient taxable income in the future. When tax returns are filed, it is highly certain that some positions taken will be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that ultimately would be sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more-likely-than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. The evaluation of a tax position taken is considered by itself and not offset or aggregated with other positions. Tax positions that meet the more likely than not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest and penalties associated with unrecognized tax benefits would be recognized in income tax expense on the income statement.
Fair value	Fair value: Fair value, also referred to as an exit price, is defined as the price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The fair value accounting guidance provides a three-level fair value hierarchy for classifying financial instruments. This hierarchy is based on whether the inputs to the valuation techniques used to measure fair value are observable or unobservable. Fair value measurement of a financial asset or liability is assigned to a level based on the lowest level of any input that is significant to the fair value measurement in its entirety. The accounting guidance for fair value requires that we maximize the use of observable inputs and minimize the use of unobservable inputs in determining fair value.
Use of Estimates	Use of Estimates : The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Our most significant estimates pertain to our allowances for loan and lease losses, fair value measurements, individually evaluated loans, the carrying value of OREO, and the valuation of deferred income taxes. Actual results may differ from the estimates and the differences may be material to the consolidated financial statements.
Segment Reporting	Segment Reporting: The Company operates one reportable segment of business, “community banking”. Through its community banking segment, the Company provides a broad range of retail and community banking services.
Other Comprehensive Income	Other Comprehensive Income : Comprehensive income consists of net income and other gains and losses affecting shareholders' equity that, under GAAP, are excluded from net income, including unrealized gains and losses on available for sale securities.
Earnings Per Common Share	Earnings Per Common Share : Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share considers common stock equivalents (when dilutive) outstanding during the period such as options outstanding and
Contingent loss	Contingent loss
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements : ASU 2020-04, Reference Rate Reform (Topic 848): In March 2020, the FASB issued ASU No. 2020.-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The amendments provide optional guidance to entities for a limited period of time to ease the transition in accounting for and recognizing the effects of reference rate reform on financial reporting. Under the guidance, modifications of contracts due to reference rate reform will not require contract remeasurement or reassessment of a previous accounting determination. For hedge accounting, modification of critical terms of the hedge due to changes in reference rate reform will not affect hedge accounting or dedesignate the hedging relationship. The guidance also provides specific expedients for fair value hedges, cash flow hedges, and excluded components. Further, the guidance provides a none-time election to sell or transfer held to maturity debt securities that are affected by the reference rate change. The guidance is effective upon issuance through December 31, 2022. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 , which extends the sunset (or expiration) date of Accounting Standards Codification (ASC) Topic 848 to December 31, 2024. This gives reporting entities two additional years to apply the accounting relief provided under ASC Topic 848 for matters related to reference rate reform. ASU 2022-06 is effective for all reporting entities immediately upon issuance and must be applied on a prospective basis. The Company does not expect the application of this guidance to have a material impact on the Consolidated Financial Statements. Accounting Pronouncements Adopted in 2023 In June 2016, the Financial Accounting Standard Board (FASB) issued accounting standards update ("ASU") 2016-13, Financial Instruments-Credit Losses. ASU 2016-13 (Topic 326) , replaces the incurred loss impairment methodology in current GAAP with a CECL methodology and requires consideration of a broader range of information to determine credit loss estimates. Financial assets measured at amortized cost will be presented at the net amount expected to be collected by using an allowance for credit losses. The ASU was amended in some aspects by subsequent Accounting Standards Updates. This guidance became effective on January 1, 2023 for the Company. Results and disclosures for reporting periods beginning after January 1, 2023 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP.

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table provides the components of other comprehensive income, reclassifications to net income and the related tax effect for the year ended December 31, 2023 and 2022: Year ended December 31, 2023 2022 (Dollars in thousands) Investment securities: Net unrealized gain (loss) $ 165 $ (1,039) Tax effect related to the unrealized (gain) loss (43) 268 Accumulated other comprehensive income $ 122 $ (771)
Schedule of Earnings Per Common Share	Earnings per common share have been computed based on the following for 2023 and 2022: 2023 2022 (Dollars in thousands, except per share data) Basic earnings per common share Net income available to common shareholders $ 28,436 $ 41,796 Basic weighted-average common shares outstanding 11,945,740 11,918,319 Basic earnings per common share $ 2.38 $ 3.51 Diluted earnings per common share Net income available to common shareholders $ 28,436 $ 41,796 Dividend on Preferred Series B 26 27 Net income attributable to diluted common shares $ 28,462 $ 41,823 Basic weighted-average common shares outstanding 11,945,740 11,918,319 Dilutive potential common shares 191,312 257,121 Total diluted weighted-average common shares outstanding 12,137,052 12,175,440 Diluted earnings per common share $ 2.35 $ 3.44
Schedule of Allowances for Loan Losses Impact of Adoption	The following table illustrates the impact of adopting ASC 326: (Amounts in thousands) January 1, 2023 Assets Pre-adoption Adoption Impact As Reported ACL on loans Commercial and Industrial $ 390 $ 168 $ 558 Construction 2,581 1,899 4,480 Commercial - Owner Occupied 2,298 (171) 2,127 Commercial - Non-owner Occupied 9,709 (951) 8,758 Residential - 1 to 4 Family 6,076 1,782 7,858 Residential - 1 to 4 Family Investment 9,381 (794) 8,587 Residential - Multifamily 1,347 (128) 1,219 Consumer 63 53 116 Total ACL on loans 31,845 1,858 33,703 Deferred Tax Assets 9,184 716 9,900 Liabilities ACL for unfunded commitments — 960 960 Equity Retained Earnings $ 131,706 $ (2,102) $ 129,604

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2023
Investments [Abstract]
Schedule of Investments in Available-for-sale and Held-to-maturity Securities	The following is a summary of the Company's investments in available for sale and held to maturity securities as of December 31, 2023 and 2022: As of December 31, 2023 Amortized Gross Gross Fair value Credit Losses ( Dollars in thousands) Available for sale: Residential mortgage-backed securities $ 7,639 $ 3 $ 547 $ 7,095 $ — Total available for sale $ 7,639 $ 3 $ 547 $ 7,095 $ — Held to maturity: States and political subdivisions $ 3,886 $ 38 $ 384 $ 3,540 $ — Residential mortgage-backed securities 5,406 — 1,054 4,352 — Total held to maturity $ 9,292 $ 38 $ 1,438 $ 7,892 $ — As of December 31, 2022 Amortized Gross Gross Fair value ( Dollars in thousands) Available for sale: Corporate debt obligations $ 500 $ — $ — $ 500 Residential mortgage-backed securities 9,575 3 712 8,866 Total available for sale $ 10,075 $ 3 $ 712 $ 9,366 Held to maturity: States and political subdivisions $ 3,822 $ 56 $ 533 $ 3,345 Residential mortgage-backed securities 5,556 — 1,096 4,460 Total held to maturity $ 9,378 $ 56 $ 1,629 $ 7,805
Schedule of Investments Classified by Contractual Maturity	The amortized cost and fair value of debt securities classified as available for sale and held to maturity, by contractual maturity as of December 31, 2023, are as follows: Amortized Fair ( Dollars in thousands) Available for sale: Due within one year $ — $ — Due after one year through five years 2,996 2,814 Due after five years through ten years 1,008 942 Due after ten years 3,635 3,339 Total available for sale $ 7,639 $ 7,095 Held to maturity: Due within one year $ — $ — Due after one year through five years 1,412 1,450 Due after five years through ten years — — Due after ten years 7,880 6,442 Total held to maturity $ 9,292 $ 7,892
Schedule Gross Unrealized Losses and Fair Value of Investments with Continuous Unrealized Loss Position	The following tables show the gross unrealized losses and fair value of the Company's available for sale securities which are aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2023 and December 31, 2022. As of December 31, 2023 Less Than 12 Months 12 Months or Greater Total Description of Securities Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Available for sale: Residential mortgage-backed securities $ 25 $ — $ 6,870 $ (547) $ 6,895 $ (547) Total available for sale $ 25 $ — $ 6,870 $ (547) $ 6,895 $ (547) As of December 31, 2022 Less Than 12 Months 12 Months or Greater Total Description of Securities Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Available for sale: Residential mortgage-backed securities $ 7,579 $ 576 $ 1,043 $ 136 $ 8,622 $ 712 Total available for sale $ 7,579 $ 576 $ 1,043 $ 136 $ 8,622 $ 712 Held to maturity: States and political subdivisions $ — $ — $ 1,943 $ 533 $ 1,943 $ 533 Residential mortgage-backed securities — — 4,460 1,096 4,460 1,096 Total held to maturity $ — $ — $ 6,403 $ 1,629 $ 6,403 $ 1,629

Loans Receivable and Allowanc_2

Loans Receivable and Allowance for Credit Losses (Tables)	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Schedule of Portfolio of Loans Outstanding	The portfolios of loans receivable at December 31, 2023, and December 31, 2022, consist of the following, by portfolio segment: December 31, 2023 December 31, 2022 (Dollars in thousands) Commercial and Industrial $ 35,451 $ 32,383 Construction 157,556 192,357 Real Estate Mortgage: Commercial – Owner Occupied 141,742 125,950 Commercial – Non-owner Occupied 369,909 377,452 Residential – 1 to 4 Family 449,682 444,820 Residential - 1 to 4 Family Investment 524,167 476,210 Residential – Multifamily 103,324 95,556 Consumer 5,509 6,731 Total Loan receivable 1,787,340 1,751,459 Allowance for credit losses on loans (32,131) (31,845) Total loan receivable, net of allowance for credit losses on loans $ 1,755,209 $ 1,719,614 Collateral-Dependent Loans The following table presents the collateral-dependent loans by portfolio segment and collateral type at December 31, 2023: (amounts in thousands) Real Estate Business Assets Other Commercial and Industrial $ 712 $ — $ — Construction 1,091 — — Commercial - Owner Occupied 1,117 — — Commercial - Non-owner Occupied 3,107 — — Residential - 1 to 4 Family 1,211 — — Residential - 1 to 4 Family Investment — — — Residential - Multifamily — — — Consumer — — — Total $ 7,238 $ — $ —
Schedule of Age Analysis of Past Due Loans by Class	An age analysis of past due loans by class at December 31, 2023 and December 31, 2022 as follows: December 31, 2023 30-59 60-89 Greater Total Past Current Total (Dollars in thousands) Commercial and Industrial $ — $ — $ 712 $ 712 $ 34,739 $ 35,451 Construction — — 1,091 1,091 156,465 157,556 Real Estate Mortgage: Commercial – Owner Occupied — — 1,117 1,117 140,625 141,742 Commercial – Non-owner Occupied — 1,549 3,107 4,656 365,253 369,909 Residential – 1 to 4 Family 58 1,793 1,211 3,062 446,620 449,682 Residential - 1 to 4 Family Investment — 440 — 440 523,727 524,167 Residential – Multifamily — — — — 103,324 103,324 Consumer 66 — — 66 5,443 5,509 Total Loans $ 124 $ 3,782 $ 7,238 $ 11,144 $ 1,776,196 $ 1,787,340 December 31, 2022 30-59 60-89 Greater Total Past Current Total Loans (Dollars in thousands) Commercial and Industrial $ — $ 89 $ — $ 89 $ 32,294 $ 32,383 Construction — — 1,091 1,091 191,266 192,357 Real Estate Mortgage: Commercial – Owner Occupied — — 400 400 125,550 125,950 Commercial – Non-owner Occupied — — 14,553 14,553 362,899 377,452 Residential – 1 to 4 Family 58 — 162 220 444,600 444,820 Residential - 1 to 4 Family Investment — — — — 476,210 476,210 Residential – Multifamily — — — — 95,556 95,556 Consumer 78 — 70 148 6,583 6,731 Total Loans $ 136 $ 89 $ 16,276 $ 16,501 $ 1,734,958 $ 1,751,459
Schedule of Financing Receivable, Nonaccrual	The following table provides the amortized cost of loans on nonaccrual status: December 31, 2023 (amounts in thousands) Nonaccrual with no ACL Nonaccrual with ACL Total Nonaccrual Loans Past Due Over 90 Days Still Accruing Total Nonperforming Commercial and Industrial $ 277 $ 435 $ 712 $ — $ 712 Construction 1,091 — 1,091 — 1,091 Commercial - Owner Occupied 717 400 1,117 — 1,117 Commercial - Non-owner Occupied 3,107 — 3,107 — 3,107 Residential - 1 to 4 Family 1,211 — 1,211 — 1,211 Residential - 1 to 4 Family Investment — — — — — Residential - Multifamily — — — — — Consumer — — — — — Total $ 6,403 $ 835 $ 7,238 $ — $ 7,238 December 31, 2022 (amounts in thousands) Total Nonaccrual Loans Past Due Over 90 Days Still Accruing Commercial and Industrial $ — $ — Construction 1,091 — Commercial - Owner Occupied 587 — Commercial - Non-owner Occupied 19,568 — Residential - 1 to 4 Family 417 — Residential - 1 to 4 Family Investment — — Residential - Multifamily — — Consumer 70 — Total $ 21,733 $ —
Schedule of Analysis of Allowance for Loan Losses	The following tables present the information regarding the allowance for credit losses and associated loan data by portfolio segment under the CECL model in accordance with ASC 326: Twelve Months Ended December 31, 2023 As of December 31, 2023 Real Estate Mortgage (Dollars in thousands) Commercial and Industrial Construction Commercial Owner Occupied Commercial Non-owner Occupied Residential 1 to 4 Family Residential 1 to 4 Family Investment Residential Multifamily Consumer Total December 31, 2022 $ 390 $ 2,581 $ 2,298 $ 9,709 $ 6,076 $ 9,381 $ 1,347 $ 63 $ 31,845 Impact of adoption ASC 326 168 1,899 (171) (951) 1,782 (794) (128) 53 1,858 Charge-offs — — — — — — — — — Recoveries 15 — 3 — — — — — 18 Provisions (benefits) 353 (1,133) (335) (1,650) 1,203 196 (170) (54) (1,590) Ending Balance December 31 2023 $ 926 $ 3,347 $ 1,795 $ 7,108 $ 9,061 $ 8,783 $ 1,049 $ 62 $ 32,131 The increase in allowance for credit losses for construction is due to an increase in the vintage loss rate upon the implementation of CECL, partially offset by a decrease in loan balance during the year. The increase in the allowance for credit losses for residential 1 to 4 family is due to an increase in the vintage loss rate upon the implementation of CECL, as well as an increase in loan balance during the year. The decrease in allowance for credit losses for residential 1 to 4 family investment, and residential multifamily is due to lower vintage loss rates upon the implementation of CECL, partially offset by increases in loan balances during the year. The decrease in allowance for credit losses for commercial non-owner occupied is due to lower vintage loss rates upon the implementation of CECL, a decrease in loan balance, and a decrease in loss rates due to a decrease in non-performing loans. The following tables present the information regarding the allowance for loan losses and associated loan data by portfolio segment under the incurred loss model: Twelve Months Ended December 31, 2022 As of December 31, 2022 Real Estate Mortgage (Dollars in thousands) Commercial and Industrial Construction Commercial Owner Occupied Commercial Non-owner Occupied Residential 1 to 4 Family Residential 1 to 4 Family Investment Residential Multifamily Consumer Total December 31, 2021 $ 417 $ 2,662 $ 2,997 $ 7,476 $ 7,045 $ 7,925 $ 1,215 $ 108 $ 29,845 Charge-offs — — — — (66) — — — (66) Recoveries 14 100 18 — 134 — — — 266 Provisions (41) (181) (717) 2,233 (1,037) 1,456 132 (45) 1,800 Ending Balance December 31 2022 $ 390 $ 2,581 $ 2,298 $ 9,709 $ 6,076 $ 9,381 $ 1,347 $ 63 $ 31,845 Allowance for loan losses Individually evaluated for impairment $ — $ — $ 31 $ 500 $ 18 $ — $ — $ — $ 549 Collectively evaluated for impairment 390 2,581 2,267 9,209 6,058 9,381 1,347 63 31,296 Balance at December 31, 2022 $ 390 $ 2,581 $ 2,298 $ 9,709 $ 6,076 $ 9,381 $ 1,347 $ 63 $ 31,845 Loans Individually evaluated for impairment $ — $ 1,091 $ 587 $ 19,568 $ 417 $ — $ — $ 70 $ 21,733 Collectively evaluated for impairment 32,383 191,266 125,363 357,884 444,403 476,210 95,556 6,661 1,729,726 Balance at December 31, 2022 $ 32,383 $ 192,357 $ 125,950 $ 377,452 $ 444,820 $ 476,210 $ 95,556 $ 6,731 $ 1,751,459
Schedule of Analysis of Credit Risk Profile by Internally Assigned Grades	The following tables provide an analysis of loans by portfolio segment based on the credit quality indicators used to determine the allowance for credit losses, as of December 31, 2023 under the current expected credit loss model. (Dollars in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving Loans at Amortized Cost Basis As of December 31, 2023 2023 2022 2021 2020 2019 Prior Total Commercial and Industrial Pass $ 4,724 $ 1,269 $ 87 $ 759 $ 598 $ 7,154 $ 20,148 $ 34,739 OAEM — — — — — — — — Substandard — 435 — — — — 277 712 Doubtful — — — — — — — — $ 4,724 $ 1,704 $ 87 $ 759 $ 598 $ 7,154 $ 20,425 $ 35,451 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Construction Pass $ 323 $ 3,335 $ 4,499 $ 195 $ — $ — $ 148,113 $ 156,465 OAEM — — — — — — — — Substandard — — — — — 1,091 — 1,091 Doubtful — — — — — — — — $ 323 $ 3,335 $ 4,499 $ 195 $ — $ 1,091 $ 148,113 $ 157,556 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Commercial – Owner Occupied Pass $ 19,842 $ 36,030 $ 21,536 $ 7,104 $ 8,346 $ 45,249 $ 2,518 $ 140,625 OAEM — — — — — — — — Substandard — — — — — 1,117 — 1,117 Doubtful — — — — — — — — $ 19,842 $ 36,030 $ 21,536 $ 7,104 $ 8,346 $ 46,366 $ 2,518 $ 141,742 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Commercial – Non-owner Occupied Pass $ 19,123 $ 93,805 $ 37,002 $ 33,316 $ 54,484 $ 112,471 $ 1,180 $ 351,381 OAEM — — — — — 15,421 — 15,421 Substandard — — — 250 2,586 271 — 3,107 Doubtful — — — — — — — — $ 19,123 $ 93,805 $ 37,002 $ 33,566 $ 57,070 $ 128,163 $ 1,180 $ 369,909 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Residential – 1 to 4 Family Performing $ 58,358 $ 117,044 $ 61,580 $ 33,037 $ 25,623 $ 148,124 $ 4,705 $ 448,471 Nonperforming 155 — — 285 771 — — 1,211 $ 58,513 $ 117,044 $ 61,580 $ 33,322 $ 26,394 $ 148,124 $ 4,705 $ 449,682 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Residential – 1 to 4 Family Investment Performing $ 87,734 $ 138,884 $ 116,487 $ 50,119 $ 54,576 $ 76,367 $ — $ 524,167 Nonperforming — — — — — — — — $ 87,734 $ 138,884 $ 116,487 $ 50,119 $ 54,576 $ 76,367 $ — $ 524,167 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Residential – Multifamily Pass $ 2,292 $ 23,030 $ 27,006 $ 12,159 $ 9,989 $ 28,848 $ — $ 103,324 OAEM — — — — — — — $ — Substandard — — — — — — — $ — Doubtful — — — — — — — — $ 2,292 $ 23,030 $ 27,006 $ 12,159 $ 9,989 $ 28,848 $ — $ 103,324 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Consumer Performing $ — $ — $ — $ — $ — $ 5,493 $ 16 $ 5,509 Nonperforming — — — — — — — — $ — $ — $ — $ — $ — $ 5,493 $ 16 $ 5,509 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — An analysis of the credit risk profile by internally assigned grades under the incurred loss model as of December 31, 2022 is as follows: December 31, 2022 Pass OAEM Substandard Doubtful Total (Dollars in thousands) Commercial and Industrial $ 32,383 $ — $ — $ — $ 32,383 Construction 191,266 — 1,091 — 192,357 Real Estate Mortgage: Commercial – Owner Occupied 122,523 3,027 400 — 125,950 Commercial – Non-owner Occupied 362,899 — 14,553 — 377,452 Residential – 1 to 4 Family 920,868 — 162 — 921,030 Residential – Multifamily 95,556 — — — 95,556 Consumer 6,661 — 70 — 6,731 Total $ 1,732,156 $ 3,027 $ 16,276 $ — $ 1,751,459
Schedule of Impaired Loans	The following table provides detail on impaired loans and the associated ALLL at December 31, 2022: December 31, 2022 Recorded Unpaid Related (Dollars in thousands) With no related allowance recorded: Commercial and Industrial $ — $ — $ — Construction 1,091 5,808 — Real Estate Mortgage: Commercial – Owner Occupied — — — Commercial – Non-owner Occupied 11,116 11,116 — Residential – 1 to 4 Family 162 162 — Residential – Multifamily — — — Consumer 70 70 — 12,439 17,156 — With an allowance recorded: Commercial and Industrial — — — Construction — — — Real Estate Mortgage: Commercial – Owner Occupied 587 587 31 Commercial – Non-owner Occupied 8,452 8,452 500 Residential – 1 to 4 Family 255 255 18 Residential – Multifamily — — — Consumer — — — 9,294 9,294 549 Total: Commercial and Industrial — — — Construction 1,091 5,808 — Real Estate Mortgage: Commercial – Owner Occupied 587 587 31 Commercial – Non-owner Occupied 19,568 19,568 500 Residential – 1 to 4 Family 417 417 18 Residential – Multifamily — — — Consumer 70 70 — $ 21,733 $ 26,450 $ 549 The following table presents by loan portfolio class, the average recorded investment and interest income recognized on impaired loans for the year ended December 31, 2022: 2022 Average Interest (Dollars in thousands) Commercial and Industrial $ 114 $ — Construction 1,129 — Real Estate Mortgage: Commercial – Owner Occupied 1,772 31 Commercial – Non-owner Occupied 11,108 645 Residential – 1 to 4 Family 541 20 Residential – Multifamily — — Consumer 42 1 Total $ 14,706 $ 697
Schedule of Analysis of Loans to Related Parties	An analysis of the activity of such related party loans for 2023 is as follows: 2023 (Dollars in thousands) Balance, beginning of year $ 843 Advances 301 Less: repayments (448) Balance, end of year $ 696

OREO (Tables)

OREO (Tables)	12 Months Ended
	Dec. 31, 2023
Real Estate [Abstract]
Schedule of Analysis of OREO activity	An analysis of OREO activity for the years ended December 31, 2023 and 2022 is as follows: For the Year Ended 2023 2022 (Dollars in thousands) Balance at beginning of period $ 1,550 $ 1,654 Real estate acquired in settlement of loans 123 1,994 Sales of OREO, net (161) (2,426) Valuation adjustments 38 328 Balance at end of period $ 1,550 $ 1,550

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2023
Deposits [Abstract]
Schedule of Deposits	Deposits at December 31, 2023 and 2022, consisted of the following: 2023 2022 (Dollars in thousands) Noninterest-bearing demand $ 232,189 $ 352,546 NOWs 63,017 83,080 Money market deposits 567,080 348,680 Savings deposits 83,470 188,540 Time deposits over $250,000 93,696 119,009 Other time deposits 356,791 373,689 Brokered time deposits 156,584 110,437 Total deposits $ 1,552,827 $ 1,575,981
Scheduled Maturities of Certificates of Deposit	Scheduled maturities of certificates of deposit at December 31, 2023 are as follows: Years Ending December 31, (Dollars in thousands) 2024 $ 567,442 2025 28,327 2026 8,363 2027 2,723 2028 216 Total $ 607,071
Schedule of Interest Expense	The following table is a summary of interest expense on deposits by category: 2023 2022 (Dollars in thousands) NOWs $ 1,377 $ 417 Money market deposits 17,120 3,927 Savings deposits 1,486 905 Time deposits 15,232 4,890 Brokered time deposits 6,044 932 Total $ 41,259 $ 11,071

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Analysis of Borrowings	An analysis of borrowings at December 31, 2023 and 2022 is as follows: 2023 2022 Maturity Date or Range Amount Weighted Amount Weighted (Dollars in thousands, except rates) Borrowed funds: Federal Home Loan Bank advances Less than one year $ 30,000 5.61 % $ 83,150 1.84 % One to three years 95,000 4.93 % — — % Total $ 125,000 $ 83,150 Subordinated debentures, capital trusts November 2035 $ 5,155 7.30 % $ 5,155 6.35 % November 2035 5,155 7.30 % 5,155 6.35 % September 2037 3,093 7.15 % 3,093 6.27 % Total $ 13,403 $ 13,403 Subordinated debentures notes, net July 15, 2030 $ 29,708 6.50 % $ 29,518 6.50 %

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Premises and Equipment	A summary of the cost and accumulated depreciation and amortization of Company premises and equipment as of December 31, 2023 and 2022 is as follows: 2023 2022 (Dollars in thousands) Land $ 1,044 $ 1,044 Building and improvements 7,275 7,282 Furniture and equipment 3,946 4,044 Total premises and equipment 12,265 12,370 Less: accumulated depreciation and amortization (6,686) (6,412) Premises and equipment, net $ 5,579 $ 5,958

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Assets and Liabilities, Lessee	The following table presents information about our operating leases at the year ended December 31, 2023. Dollars in thousands 2023 Lease right of use assets (ROU) $ 2,455 Lease liabilities $ 2,455
Schedule of Future Undiscounted Cash Flows on Operating Leases	The following table presents future undiscounted cash flows on our operating leases: Years Ending December 31, (Dollars in thousands) 2024 $ 360 2025 365 2026 283 2027 187 2028 192 Thereafter 25,922 Total undiscounted lease payments $ 27,309 Impact of present value discount $ (24,854)

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Schedule of Stock Options Activity	A summary of stock options at December 31, 2023 and 2022 was as follows: Year Ended Stock Options: Shares Weighted Average Exercise Price Outstanding at beginning of period 689,127 $15.93 Granted — $— Exercised (3,782) $8.95 Forfeited (4,000) $21.66 Outstanding at end of period 681,345 $15.94 Exercisable at end of period 470,349 $14.90
Schedule of Share-Based Payment Arrangement, Restricted Stock Unit, Activity	The table below presents the status of the restricted stock units at December 31, 2023, and the changes during the year ended December 31, 2023. Restricted Stock Units Weighted Average Grant-Date Fair Value Outstanding and unvested at December 31, 2022 5,691 19.69 Granted — Vested (2,022) 19.77 Outstanding and unvested at December 31, 2023 3,669 19.64

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense	Income tax expense for 2023 and 2022 consisted of the following: 2023 2022 (Dollars in thousands) Current tax expense: Federal $ 6,886 $ 12,696 State 2,336 2,865 9,222 15,561 Deferred tax expense/(benefit) 6 (1,308) Income tax expense $ 9,228 $ 14,253
Schedule of Net Deferred Tax Asset	The components of the net deferred tax asset at December 31, 2023 and 2022 were as follows: 2023 2022 (Dollars in thousands) Deferred tax assets: Allowance for credit losses $ 7,575 $ 7,758 Supplemental Executive Retirement Plan ("SERP") 1,636 1,537 Deferred Loan Fees 1,322 1,254 Nonaccrued interest 58 67 Non-qualified stock options and restricted stock 318 210 Write-down on partnership investment 138 133 Unrealized loss on securities 140 183 PPP Deferred Loan Fees 1 4 Other 210 54 11,398 11,200 Valuation allowance (138) (133) Total gross deferred tax assets 11,260 11,067 Deferred tax liabilities: Depreciation (71) (79) Partnership income (58) (55) Deferred loan costs (1,869) (1,749) Total gross deferred tax liabilities (1,998) (1,883) Net deferred tax asset $ 9,262 $ 9,184
Schedule of Reconciliation of Effective Income Tax Rate with Statutory Federal Rate	A reconciliation of the Company’s effective income tax rate with the statutory federal rate for 2023 and 2022 is as follows: 2023 2022 (Dollars in thousands) At Federal statutory rate $ 7,915 $ 11,776 Adjustments resulting from: State income taxes, net of Federal tax benefit 1,557 2,400 Non-controlling interest — — Tax exempt income (20) (22) BOLI (155) (119) Stock compensation (8) (89) Nondeductible expenses 1 1 Nondeductible executive compensation 84 84 Other (146) 222 $ 9,228 $ 14,253

Retirement Plans (Tables)

Retirement Plans (Tables)	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Schedule of Benefit Obligation	The benefit obligation at December 31, 2023 and December 31, 2022 was calculated as follows: 2023 2022 (Dollars in thousands) Benefit obligation, January 1 $ 6,311 $ 6,101 Service cost/(benefit) 27 121 Interest cost 340 328 Benefits paid (239) (239) Accrued liability at December 31 $ 6,439 $ 6,311
Schedule of Net Periodic Pension Cost	The net SERP pension cost for 2023 and benefit for 2022 was calculated as follows: 2023 2022 (Dollars in thousands) Service cost $ 27 $ 121 Interest cost 340 328 $ 367 $ 449

Regulatory Matters (Tables)

Regulatory Matters (Tables)	12 Months Ended
	Dec. 31, 2023
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]
Schedule of Quantitative Measures Established by Regulation to Ensure Capital Adequacy Minimum Amounts and Ratios	The Company and Bank's regulatory capital as of December 31, 2023 and 2022, is presented in the following table. As of December 31, 2023 Actual For Capital Adequacy Purpose* Company Amount Ratio Amount Ratio (Dollars in thousands except ratios) Total risk-based capital $ 345,607 24.19% $ 114,291 8.00% Tier 1 risk-based capital 297,749 20.84% 85,718 6.00% Tier 1 leverage 297,749 15.04% 79,207 4.00% Tier 1 common equity 284,346 19.90% 64,289 4.50% Parke Bank Community Bank Leverage Ratio 326,465 16.49% 178,233 9.00% As of December 31, 2022 Actual For Capital Adequacy Purpose* Company Amount Ratio Amount Ratio (Dollars in thousands except ratios) Total risk-based capital $ 298,056 20.59% $ 115,797 8.00% Tier 1 risk-based capital 279,963 19.34% 86,848 6.00% Tier 1 leverage 279,963 14.40% 77,775 4.00% Tier 1 common equity 266,115 18.38% 65,136 4.50% Parke Bank Community Bank Leverage Ratio 308,155 15.85% 175,009 9.00% * Combination of both community bank leverage approach and the regular rule of capital adequacy.

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The table below presents the balances of assets and liabilities measured at fair value on a recurring basis at December 31, 2023 and 2022. F inancial Assets Level 1 Level 2 Level 3 Total (Dollars in thousands) Investment securities available for sale As of December 31, 2023 Residential mortgage-backed securities — 7,095 — 7,095 Total $ — $ 7,095 $ — $ 7,095 As of December 31, 2022 Corporate debt obligations $ — $ 500 $ — $ 500 Residential mortgage-backed securities — 8,866 — 8,866 Collateralized mortgage-backed securities — — — — Total $ — $ 9,366 $ — $ 9,366
Schedule of Fair Value on a Non-Recurring Basis	Certain assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Financial Assets Level 1 Level 2 Level 3 Total (Dollars in thousands) As of December 31, 2023 Collateral dependent loans $ — $ — $ 1,655 $ 1,655 OREO $ — $ — $ 1,550 $ 1,550 As of December 31, 2022 Collateral dependent loans $ — $ — $ 1,091 $ 1,091 OREO $ — $ — $ 1,550 $ 1,550
Schedule of Carrying Value and Fair Value of Financial Instruments	The following table summarizes the carrying amounts and fair values for financial instruments at December 31, 2023 and December 31, 2022: December 31, 2023 Carrying Amount Fair Value Total Level 1 Level 2 Level 3 (Dollars in thousands) Financial Assets: Cash and cash equivalents $ 180,376 $ 180,376 $ 180,376 $ — $ — Investment securities AFS 7,095 7,095 — 7,095 — Investment securities HTM 9,292 7,892 — 7,892 — Restricted stock 7,636 7,636 — — 7,636 Loans, net 1,755,209 1,727,842 — 1,718,866 8,976 Accrued interest receivable 8,555 8,555 — 8,555 — Financial Liabilities: Non-time deposits $ 945,756 $ 945,756 $ 945,756 $ — $ — Time deposits — 605,216 — 605,216 — Borrowings 168,111 172,985 — 172,985 — Accrued interest payable 4,146 4,146 — 4,146 — December 31, 2022 Carrying Amount Fair Value Total Level 1 Level 2 Level 3 (Dollars in thousands) Financial Assets: Cash and cash equivalents $ 182,150 $ 182,150 $ 182,150 $ — $ — Investment securities AFS 9,366 9,366 — 9,366 — Investment securities HTM 9,378 7,805 — 7,805 — Restricted stock 5,439 5,439 — — 5,439 Loans, net 1,719,614 1,661,974 — 1,641,444 20,530 Accrued interest receivable 8,768 8,768 — 8,768 — Financial Liabilities: Non-time deposits $ 972,846 $ 972,846 $ — $ 972,846 $ — Time deposits 603,135 609,097 — 609,097 — Borrowings 126,071 127,254 — 127,254 — Accrued interest payable 2,664 2,664 — 2,664 —

Parent Company Only Financial_2

Parent Company Only Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]
Schedule of Condensed Financial Information of the Parent Company	Condensed financial information of the parent company only is presented in the following two tables: Balance Sheets December 31, 2023 2022 (Dollars in thousands) Assets: Cash $ 4,111 $ 4,059 Investments in subsidiaries 326,464 308,030 Total assets $ 330,575 $ 312,089 Liabilities and Equity: Subordinated debentures $ 43,111 $ 42,921 Other liabilities 3,147 3,134 Equity 284,317 266,034 Total liabilities and equity $ 330,575 $ 312,089 Statements of Income Years ended December 31, 2023 2022 (Dollars in thousands) Income: Dividends from bank subsidiary $ 11,772 $ 10,766 Total income 11,772 10,766 Expense: Interest on subordinated debentures $ 3,048 $ 2,586 Salary 160 160 Other expenses 118 118 Total expenses 3,326 2,864 Net Income 8,446 7,902 Equity in undistributed income of subsidiaries 20,016 33,921 Net income 28,462 41,823 Preferred stock dividend and discount accretion (26) (27) Net income available to common shareholders $ 28,436 $ 41,796 Statements of Cash Flows Years ended December 31, 2023 2022 (Dollars in thousands) Cash Flows from Operating Activities Net income $ 28,462 $ 41,823 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed earnings of subsidiaries (20,016) (33,921) Amortization of subordinate debt issuance costs 190 190 Changes in (Increase) decrease in other assets — (2) Increase in accrued interest payable and other accrued 12 55 Net cash provided by operating activities 8,648 8,145 Cash Flows from Financing Activities Proceeds from exercise of stock options 33 406 Payment of dividend on preferred stock and common stock (8,629) (7,886) Net cash used in financing activities (8,596) (7,480) Increase in cash and cash equivalents 52 665 Cash and Cash Equivalents, January 1, 4,059 3,394 Cash and Cash Equivalents, December 31, $ 4,111 $ 4,059

Description of Business and S_4

Description of Business and Summary of Significant Accounting Policies - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) segment branch shares	Dec. 31, 2022 USD ($) shares	Jan. 01, 2023 USD ($)
Property, Plant and Equipment [Line Items]
Date of commenced of operations	Jan. 28, 1999
Number of additional branch office locations | branch	7
Minimum period for a loan past due to be classified under non accrual status	90 days
Recognize interest, related to income tax	$ 0	$ 0
Recognize penalties, related to income tax	0	0
Uncertain tax positions	$ 0	0
Number of reportable segments | segment	1
Contingent loss	$ 9,500,000
Retained earnings	(149,437,000)	(131,706,000)	$ (129,604,000)
ACL for unfunded commitments		0	960,000
Accounting Standards Update 2016-13
Property, Plant and Equipment [Line Items]
Retained earnings			2,100,000
Adjustment for adoption of new ASU			1,900,000
ACL for unfunded commitments	$ 500,000	$ 0	$ 960,000
Common Stock Options
Property, Plant and Equipment [Line Items]
Securities not included in the computation of diluted EPS (in shares) | shares	330,536	125,938
Computer Equipment
Property, Plant and Equipment [Line Items]
Estimated Useful lives	3 years
Equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful lives	5 years
Equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful lives	10 years
Building
Property, Plant and Equipment [Line Items]
Estimated Useful lives	40 years

Description of Business and S_5

Description of Business and Summary of Significant Accounting Policies - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net unrealized gain (loss)	$ 165	$ (1,039)
Tax effect related to the unrealized (gain) loss	(43)	268
Total other comprehensive gain (loss)	122	(771)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total other comprehensive gain (loss)	$ 122	$ (771)

Description of Business and S_6

Description of Business and Summary of Significant Accounting Policies - Schedule of Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Basic earnings per common share
Net income available to common shareholders	$ 28,436	$ 41,796
Basic weighted-average common shares outstanding (in shares)	11,945,740	11,918,319
Basic earnings per common share (in dollars per share)	$ 2.38	$ 3.51
Diluted earnings per common share
Net income available to common shareholders	$ 28,436	$ 41,796
Dividend on Preferred Series B	26	27
Net income attributable to diluted common shares	$ 28,462	$ 41,823
Basic weighted-average common shares outstanding (in shares)	11,945,740	11,918,319
Dilutive potential common shares (in shares)	191,312	257,121
Total diluted weighted-average common shares outstanding (in shares)	12,137,052	12,175,440
Diluted earnings per common share (in dollars per share)	$ 2.35	$ 3.44

Description of Business and S_7

Description of Business and Summary of Significant Accounting Policies - Schedule of Allowances for Loan Losses Impact of Adoption (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2022	Dec. 31, 2021
Assets
Total ACL on loans	$ 32,131	$ 33,703	$ 31,845	$ 29,845
Deferred tax asset	9,262	9,900	9,184
Liabilities
ACL for unfunded commitments		960	0
Equity
Retained earnings	149,437	129,604	131,706
Cumulative Effect, Period of Adoption, Adjusted Balance
Assets
Total ACL on loans		1,858
Deferred tax asset		716
Liabilities
ACL for unfunded commitments		960
Equity
Retained earnings		(2,102)
Commercial and Industrial
Assets
Total ACL on loans	926	558	390	417
Commercial and Industrial | Cumulative Effect, Period of Adoption, Adjusted Balance
Assets
Total ACL on loans		168
Construction
Assets
Total ACL on loans	3,347	4,480	2,581	2,662
Construction | Cumulative Effect, Period of Adoption, Adjusted Balance
Assets
Total ACL on loans		1,899
Real Estate Mortgage: | Commercial – Owner Occupied
Assets
Total ACL on loans	1,795	2,127	2,298	2,997
Real Estate Mortgage: | Commercial – Non-owner Occupied
Assets
Total ACL on loans	7,108	8,758	9,709	7,476
Real Estate Mortgage: | Residential – 1 to 4 Family
Assets
Total ACL on loans	9,061	7,858	6,076	7,045
Real Estate Mortgage: | Residential - 1 to 4 Family Investment
Assets
Total ACL on loans	8,783	8,587	9,381	7,925
Real Estate Mortgage: | Residential – Multifamily
Assets
Total ACL on loans	1,049	1,219	1,347	1,215
Real Estate Mortgage: | Cumulative Effect, Period of Adoption, Adjusted Balance | Commercial – Owner Occupied
Assets
Total ACL on loans		(171)
Real Estate Mortgage: | Cumulative Effect, Period of Adoption, Adjusted Balance | Commercial – Non-owner Occupied
Assets
Total ACL on loans		(951)
Real Estate Mortgage: | Cumulative Effect, Period of Adoption, Adjusted Balance | Residential – 1 to 4 Family
Assets
Total ACL on loans		1,782
Real Estate Mortgage: | Cumulative Effect, Period of Adoption, Adjusted Balance | Residential - 1 to 4 Family Investment
Assets
Total ACL on loans		(794)
Real Estate Mortgage: | Cumulative Effect, Period of Adoption, Adjusted Balance | Residential – Multifamily
Assets
Total ACL on loans		(128)
Consumer
Assets
Total ACL on loans	$ 62	116	$ 63	$ 108
Consumer | Cumulative Effect, Period of Adoption, Adjusted Balance
Assets
Total ACL on loans		$ 53

Investment Securities - Schedul

Investment Securities - Schedule of Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Available for sale:
Amortized cost	$ 7,639	$ 10,075
Gross unrealized gains	3	3
Gross unrealized losses	547	712
Fair value	7,095	9,366
Credit Losses	0
Held to maturity:
Amortized cost	9,292	9,378
Gross unrealized gains	38	56
Gross unrealized losses	1,438	1,629
Fair value	7,892	7,805
Credit Losses	0
Corporate debt obligations
Available for sale:
Amortized cost		500
Gross unrealized gains		0
Gross unrealized losses		0
Fair value		500
Residential mortgage-backed securities
Available for sale:
Amortized cost	7,639	9,575
Gross unrealized gains	3	3
Gross unrealized losses	547	712
Fair value	7,095	8,866
Credit Losses	0
Held to maturity:
Amortized cost	5,406	5,556
Gross unrealized gains	0	0
Gross unrealized losses	1,054	1,096
Fair value	4,352	4,460
Credit Losses	0
States and political subdivisions
Held to maturity:
Amortized cost	3,886	3,822
Gross unrealized gains	38	56
Gross unrealized losses	384	533
Fair value	3,540	$ 3,345
Credit Losses	$ 0

Investment Securities - Amortiz

Investment Securities - Amortized Cost and Fair Value of Debt Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Amortized Cost
Due within one year	$ 0
Due after one year through five years	2,996
Due after five years through ten years	1,008
Due after ten years	3,635
Amortized cost	7,639	$ 10,075
Fair Value
Due within one year	0
Due after one year through five years	2,814
Due after five years through ten years	942
Due after ten years	3,339
Total available for sale	7,095	9,366
Amortized Cost
Due within one year	0
Due after one year through five years	1,412
Due after five years through ten years	0
Due after ten years	7,880
Amortized cost	9,292	9,378
Fair Value
Due within one year	0
Due after one year through five years	1,450
Due after five years through ten years	0
Due after ten years	6,442
Total held to maturity	$ 7,892	$ 7,805

Investment Securities - Gross U

Investment Securities - Gross Unrealized Losses and Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Available for sale:
Less Than 12 Months, Fair Value	$ 25	$ 7,579
12 Months or Greater, Fair value	6,870	1,043
Total, Fair Value	6,895	8,622
Less Than 12 Months, Unrealized Losses	0	576
12 Months or Greater, Unrealized Losses	547	136
Total, Unrealized Losses	547	712
Held to maturity:
Less Than 12 Months, Fair Value		0
12 Months or Greater, Fair value		6,403
Total, Fair Value		6,403
Less Than 12 Months, Unrealized Losses		0
12 Months or Greater, Unrealized Losses		1,629
Total, Unrealized Losses		1,629
States and political subdivisions
Held to maturity:
Less Than 12 Months, Fair Value		0
12 Months or Greater, Fair value		1,943
Total, Fair Value		1,943
Less Than 12 Months, Unrealized Losses		0
12 Months or Greater, Unrealized Losses		533
Total, Unrealized Losses		533
Residential mortgage-backed securities
Available for sale:
Less Than 12 Months, Fair Value	25	7,579
12 Months or Greater, Fair value	6,870	1,043
Total, Fair Value	6,895	8,622
Less Than 12 Months, Unrealized Losses	0	576
12 Months or Greater, Unrealized Losses	547	136
Total, Unrealized Losses	$ 547	712
Held to maturity:
Less Than 12 Months, Fair Value		0
12 Months or Greater, Fair value		4,460
Total, Fair Value		4,460
Less Than 12 Months, Unrealized Losses		0
12 Months or Greater, Unrealized Losses		1,096
Total, Unrealized Losses		$ 1,096

Investment Securities - Narrati

Investment Securities - Narrative (Details) - Residential mortgage-backed securities	Dec. 31, 2023 security
Debt Securities, Available-for-sale [Line Items]
Debt securities, number of securities in less than 12 months loss position	3
Debt securities, number of securities in greater than 12 months loss position	16

Loans Receivable and Allowanc_3

Loans Receivable and Allowance for Credit Losses - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) loan	Dec. 31, 2023 USD ($)
Receivables [Abstract]
Loans, net of unearned income	$ 1,751,459	$ 1,787,340
Unearned income, net deferred loan fees and unamortized discounts and premiums	1,900	2,700
Performing TDRs	5,500
Non-performing TDRs	$ 0
Number of loans modified as TDRs | loan	0
Federal home loan bank, advances, general debt obligations, disclosures, collateral pledged	$ 923,000	$ 1,300,000

Loans Receivable and Allowanc_4

Loans Receivable and Allowance for Credit Losses - Loan Portfolios (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of unearned income	$ 1,787,340		$ 1,751,459
Less: Allowance for credit losses	(32,131)	$ (33,703)	(31,845)	$ (29,845)
Net loans	1,755,209		1,719,614
Commercial and Industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of unearned income	35,451		32,383
Less: Allowance for credit losses	(926)	(558)	(390)	(417)
Construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of unearned income	157,556		192,357
Less: Allowance for credit losses	(3,347)	(4,480)	(2,581)	(2,662)
Real Estate Mortgage: | Commercial – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of unearned income	141,742		125,950
Less: Allowance for credit losses	(1,795)	(2,127)	(2,298)	(2,997)
Real Estate Mortgage: | Commercial – Non-owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of unearned income	369,909		377,452
Less: Allowance for credit losses	(7,108)	(8,758)	(9,709)	(7,476)
Real Estate Mortgage: | Residential – 1 to 4 Family
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of unearned income	449,682		444,820
Less: Allowance for credit losses	(9,061)	(7,858)	(6,076)	(7,045)
Real Estate Mortgage: | Residential - 1 to 4 Family Investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of unearned income	524,167		476,210
Less: Allowance for credit losses	(8,783)	(8,587)	(9,381)	(7,925)
Real Estate Mortgage: | Residential – Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of unearned income	103,324		95,556
Less: Allowance for credit losses	(1,049)	(1,219)	(1,347)	(1,215)
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of unearned income	5,509		6,731
Less: Allowance for credit losses	$ (62)	$ (116)	$ (63)	$ (108)

Loans Receivable and Allowanc_5

Loans Receivable and Allowance for Credit Losses - Nonaccrual and Past Due Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Total Loans	$ 1,787,340	$ 1,751,459
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	124	136
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	3,782	89
Greater than 90 Days
Financing Receivable, Past Due [Line Items]
Total Loans	7,238	16,276
Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	11,144	16,501
Current
Financing Receivable, Past Due [Line Items]
Total Loans	1,776,196	1,734,958
Commercial and Industrial
Financing Receivable, Past Due [Line Items]
Total Loans	35,451	32,383
Commercial and Industrial | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Commercial and Industrial | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	89
Commercial and Industrial | Greater than 90 Days
Financing Receivable, Past Due [Line Items]
Total Loans	712	0
Commercial and Industrial | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	712	89
Commercial and Industrial | Current
Financing Receivable, Past Due [Line Items]
Total Loans	34,739	32,294
Construction
Financing Receivable, Past Due [Line Items]
Total Loans	157,556	192,357
Construction | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Construction | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Construction | Greater than 90 Days
Financing Receivable, Past Due [Line Items]
Total Loans	1,091	1,091
Construction | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	1,091	1,091
Construction | Current
Financing Receivable, Past Due [Line Items]
Total Loans	156,465	191,266
Real Estate Mortgage: | Commercial – Owner Occupied
Financing Receivable, Past Due [Line Items]
Total Loans	141,742	125,950
Real Estate Mortgage: | Commercial – Owner Occupied | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Real Estate Mortgage: | Commercial – Owner Occupied | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Real Estate Mortgage: | Commercial – Owner Occupied | Greater than 90 Days
Financing Receivable, Past Due [Line Items]
Total Loans	1,117	400
Real Estate Mortgage: | Commercial – Owner Occupied | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	1,117	400
Real Estate Mortgage: | Commercial – Owner Occupied | Current
Financing Receivable, Past Due [Line Items]
Total Loans	140,625	125,550
Real Estate Mortgage: | Commercial – Non-owner Occupied
Financing Receivable, Past Due [Line Items]
Total Loans	369,909	377,452
Real Estate Mortgage: | Commercial – Non-owner Occupied | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Real Estate Mortgage: | Commercial – Non-owner Occupied | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	1,549	0
Real Estate Mortgage: | Commercial – Non-owner Occupied | Greater than 90 Days
Financing Receivable, Past Due [Line Items]
Total Loans	3,107	14,553
Real Estate Mortgage: | Commercial – Non-owner Occupied | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	4,656	14,553
Real Estate Mortgage: | Commercial – Non-owner Occupied | Current
Financing Receivable, Past Due [Line Items]
Total Loans	365,253	362,899
Real Estate Mortgage: | Residential – 1 to 4 Family
Financing Receivable, Past Due [Line Items]
Total Loans	449,682	444,820
Real Estate Mortgage: | Residential – 1 to 4 Family | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	58	58
Real Estate Mortgage: | Residential – 1 to 4 Family | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	1,793	0
Real Estate Mortgage: | Residential – 1 to 4 Family | Greater than 90 Days
Financing Receivable, Past Due [Line Items]
Total Loans	1,211	162
Real Estate Mortgage: | Residential – 1 to 4 Family | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	3,062	220
Real Estate Mortgage: | Residential – 1 to 4 Family | Current
Financing Receivable, Past Due [Line Items]
Total Loans	446,620	444,600
Real Estate Mortgage: | Residential - 1 to 4 Family Investment
Financing Receivable, Past Due [Line Items]
Total Loans	524,167	476,210
Real Estate Mortgage: | Residential - 1 to 4 Family Investment | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Real Estate Mortgage: | Residential - 1 to 4 Family Investment | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	440	0
Real Estate Mortgage: | Residential - 1 to 4 Family Investment | Greater than 90 Days
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Real Estate Mortgage: | Residential - 1 to 4 Family Investment | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	440	0
Real Estate Mortgage: | Residential - 1 to 4 Family Investment | Current
Financing Receivable, Past Due [Line Items]
Total Loans	523,727	476,210
Real Estate Mortgage: | Residential – Multifamily
Financing Receivable, Past Due [Line Items]
Total Loans	103,324	95,556
Real Estate Mortgage: | Residential – Multifamily | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Real Estate Mortgage: | Residential – Multifamily | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Real Estate Mortgage: | Residential – Multifamily | Greater than 90 Days
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Real Estate Mortgage: | Residential – Multifamily | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Real Estate Mortgage: | Residential – Multifamily | Current
Financing Receivable, Past Due [Line Items]
Total Loans	103,324	95,556
Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	5,509	6,731
Consumer | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	66	78
Consumer | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Consumer | Greater than 90 Days
Financing Receivable, Past Due [Line Items]
Total Loans	0	70
Consumer | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	66	148
Consumer | Current
Financing Receivable, Past Due [Line Items]
Total Loans	$ 5,443	$ 6,583

Loans Receivable and Allowanc_6

Loans Receivable and Allowance for Credit Losses - Nonaccrual Status (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with no ACL	$ 6,403
Nonaccrual with ACL	835
Total Nonaccrual	7,238	$ 21,733
Loans > 90 Days and Accruing	0	0
Commercial and Industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with no ACL	277
Nonaccrual with ACL	435
Total Nonaccrual	712	0
Loans > 90 Days and Accruing	0	0
Construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with no ACL	1,091
Nonaccrual with ACL	0
Total Nonaccrual	1,091	1,091
Loans > 90 Days and Accruing	0	0
Real Estate Mortgage: | Commercial – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with no ACL	717
Nonaccrual with ACL	400
Total Nonaccrual	1,117	587
Loans > 90 Days and Accruing	0	0
Real Estate Mortgage: | Commercial – Non-owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with no ACL	3,107
Nonaccrual with ACL	0
Total Nonaccrual	3,107	19,568
Loans > 90 Days and Accruing	0	0
Real Estate Mortgage: | Residential – 1 to 4 Family
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with no ACL	1,211
Nonaccrual with ACL	0
Total Nonaccrual	1,211	417
Loans > 90 Days and Accruing	0	0
Real Estate Mortgage: | Residential - 1 to 4 Family Investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with no ACL	0
Nonaccrual with ACL	0
Total Nonaccrual	0	0
Loans > 90 Days and Accruing	0	0
Real Estate Mortgage: | Residential – Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with no ACL	0
Nonaccrual with ACL	0
Total Nonaccrual	0	0
Loans > 90 Days and Accruing	0	0
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with no ACL	0
Nonaccrual with ACL	0
Total Nonaccrual	0	70
Loans > 90 Days and Accruing	$ 0	$ 0

Loans Receivable and Allowanc_7

Loans Receivable and Allowance for Credit Losses - Allowance For Loan And Lease Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2023
Allowance for Loan Losses [Roll Forward]
Beginning balance	$ 31,845	$ 29,845
Charge-offs	0	(66)
Recoveries	18	266
Provisions (benefits)	(1,590)
(Recovery of) provision for credit losses	(2,051)	1,800
Ending balance	32,131	31,845
Allowance for loan losses
Individually evaluated for impairment		549
Collectively evaluated for impairment		31,296
Allowance for loan losses	32,131	31,845	$ 33,703
Loans
Individually evaluated for impairment		21,733
Collectively evaluated for impairment		1,729,726
Total	1,787,340	1,751,459
Accounting Standards Update 2016-13
Allowance for Loan Losses [Roll Forward]
Beginning balance	1,858
Ending balance		1,858
Allowance for loan losses
Allowance for loan losses		1,858
Commercial and Industrial
Allowance for Loan Losses [Roll Forward]
Beginning balance	390	417
Charge-offs	0	0
Recoveries	15	14
Provisions (benefits)	353
(Recovery of) provision for credit losses		(41)
Ending balance	926	390
Allowance for loan losses
Individually evaluated for impairment		0
Collectively evaluated for impairment		390
Allowance for loan losses	926	390	558
Loans
Individually evaluated for impairment		0
Collectively evaluated for impairment		32,383
Total	35,451	32,383
Commercial and Industrial | Accounting Standards Update 2016-13
Allowance for Loan Losses [Roll Forward]
Beginning balance	168
Ending balance		168
Allowance for loan losses
Allowance for loan losses		168
Construction
Allowance for Loan Losses [Roll Forward]
Beginning balance	2,581	2,662
Charge-offs	0	0
Recoveries	0	100
Provisions (benefits)	(1,133)
(Recovery of) provision for credit losses		(181)
Ending balance	3,347	2,581
Allowance for loan losses
Individually evaluated for impairment		0
Collectively evaluated for impairment		2,581
Allowance for loan losses	3,347	2,581	4,480
Loans
Individually evaluated for impairment		1,091
Collectively evaluated for impairment		191,266
Total	157,556	192,357
Construction | Accounting Standards Update 2016-13
Allowance for Loan Losses [Roll Forward]
Beginning balance	1,899
Ending balance		1,899
Allowance for loan losses
Allowance for loan losses		1,899
Real Estate Mortgage: | Commercial – Owner Occupied
Allowance for Loan Losses [Roll Forward]
Beginning balance	2,298	2,997
Charge-offs	0	0
Recoveries	3	18
Provisions (benefits)	(335)
(Recovery of) provision for credit losses		(717)
Ending balance	1,795	2,298
Allowance for loan losses
Individually evaluated for impairment		31
Collectively evaluated for impairment		2,267
Allowance for loan losses	1,795	2,298	2,127
Loans
Individually evaluated for impairment		587
Collectively evaluated for impairment		125,363
Total	141,742	125,950
Real Estate Mortgage: | Commercial – Owner Occupied | Accounting Standards Update 2016-13
Allowance for Loan Losses [Roll Forward]
Beginning balance	(171)
Ending balance		(171)
Allowance for loan losses
Allowance for loan losses		(171)
Real Estate Mortgage: | Commercial – Non-owner Occupied
Allowance for Loan Losses [Roll Forward]
Beginning balance	9,709	7,476
Charge-offs	0	0
Recoveries	0	0
Provisions (benefits)	(1,650)
(Recovery of) provision for credit losses		2,233
Ending balance	7,108	9,709
Allowance for loan losses
Individually evaluated for impairment		500
Collectively evaluated for impairment		9,209
Allowance for loan losses	7,108	9,709	8,758
Loans
Individually evaluated for impairment		19,568
Collectively evaluated for impairment		357,884
Total	369,909	377,452
Real Estate Mortgage: | Commercial – Non-owner Occupied | Accounting Standards Update 2016-13
Allowance for Loan Losses [Roll Forward]
Beginning balance	(951)
Ending balance		(951)
Allowance for loan losses
Allowance for loan losses		(951)
Real Estate Mortgage: | Residential – 1 to 4 Family
Allowance for Loan Losses [Roll Forward]
Beginning balance	6,076	7,045
Charge-offs	0	(66)
Recoveries	0	134
Provisions (benefits)	1,203
(Recovery of) provision for credit losses		(1,037)
Ending balance	9,061	6,076
Allowance for loan losses
Individually evaluated for impairment		18
Collectively evaluated for impairment		6,058
Allowance for loan losses	9,061	6,076	7,858
Loans
Individually evaluated for impairment		417
Collectively evaluated for impairment		444,403
Total	449,682	444,820
Real Estate Mortgage: | Residential – 1 to 4 Family | Accounting Standards Update 2016-13
Allowance for Loan Losses [Roll Forward]
Beginning balance	1,782
Ending balance		1,782
Allowance for loan losses
Allowance for loan losses		1,782
Real Estate Mortgage: | Residential - 1 to 4 Family Investment
Allowance for Loan Losses [Roll Forward]
Beginning balance	9,381	7,925
Charge-offs	0	0
Recoveries	0	0
Provisions (benefits)	196
(Recovery of) provision for credit losses		1,456
Ending balance	8,783	9,381
Allowance for loan losses
Individually evaluated for impairment		0
Collectively evaluated for impairment		9,381
Allowance for loan losses	8,783	9,381	8,587
Loans
Individually evaluated for impairment		0
Collectively evaluated for impairment		476,210
Total	524,167	476,210
Real Estate Mortgage: | Residential - 1 to 4 Family Investment | Accounting Standards Update 2016-13
Allowance for Loan Losses [Roll Forward]
Beginning balance	(794)
Ending balance		(794)
Allowance for loan losses
Allowance for loan losses		(794)
Real Estate Mortgage: | Residential – Multifamily
Allowance for Loan Losses [Roll Forward]
Beginning balance	1,347	1,215
Charge-offs	0	0
Recoveries	0	0
Provisions (benefits)	(170)
(Recovery of) provision for credit losses		132
Ending balance	1,049	1,347
Allowance for loan losses
Individually evaluated for impairment		0
Collectively evaluated for impairment		1,347
Allowance for loan losses	1,049	1,347	1,219
Loans
Individually evaluated for impairment		0
Collectively evaluated for impairment		95,556
Total	103,324	95,556
Real Estate Mortgage: | Residential – Multifamily | Accounting Standards Update 2016-13
Allowance for Loan Losses [Roll Forward]
Beginning balance	(128)
Ending balance		(128)
Allowance for loan losses
Allowance for loan losses		(128)
Consumer
Allowance for Loan Losses [Roll Forward]
Beginning balance	63	108
Charge-offs	0	0
Recoveries	0	0
Provisions (benefits)	(54)
(Recovery of) provision for credit losses		(45)
Ending balance	62	63
Allowance for loan losses
Individually evaluated for impairment		0
Collectively evaluated for impairment		63
Allowance for loan losses	62	63	$ 116
Loans
Individually evaluated for impairment		70
Collectively evaluated for impairment		6,661
Total	5,509	6,731
Consumer | Accounting Standards Update 2016-13
Allowance for Loan Losses [Roll Forward]
Beginning balance	$ 53
Ending balance		53
Allowance for loan losses
Allowance for loan losses		$ 53

Loans Receivable and Allowanc_8

Loans Receivable and Allowance for Credit Losses - Collateral-Dependent Loans (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	$ 7,238
Real Estate | Commercial and Industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	712
Real Estate | Construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	1,091
Real Estate | Real Estate Mortgage: | Commercial – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	1,117
Real Estate | Real Estate Mortgage: | Commercial – Non-owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	3,107
Real Estate | Real Estate Mortgage: | Residential – 1 to 4 Family
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	1,211
Real Estate | Real Estate Mortgage: | Residential - 1 to 4 Family Investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Real Estate | Real Estate Mortgage: | Residential – Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Real Estate | Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Business Assets
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Business Assets | Commercial and Industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Business Assets | Construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Business Assets | Real Estate Mortgage: | Commercial – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Business Assets | Real Estate Mortgage: | Commercial – Non-owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Business Assets | Real Estate Mortgage: | Residential – 1 to 4 Family
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Business Assets | Real Estate Mortgage: | Residential - 1 to 4 Family Investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Business Assets | Real Estate Mortgage: | Residential – Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Business Assets | Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Other | Commercial and Industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Other | Construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Other | Real Estate Mortgage: | Commercial – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Other | Real Estate Mortgage: | Commercial – Non-owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Other | Real Estate Mortgage: | Residential – 1 to 4 Family
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Other | Real Estate Mortgage: | Residential - 1 to 4 Family Investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Other | Real Estate Mortgage: | Residential – Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Other | Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	$ 0

Loans Receivable and Allowanc_9

Loans Receivable and Allowance for Credit Losses - Schedule of Accounts Receivable, Allowance for Credit Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	$ 1,787,340	$ 1,751,459
Current period gross charge-offs
Total	0	66
Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		1,732,156
OAEM
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		3,027
Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		16,276
Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		0
Commercial and Industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	4,724
2022	1,704
2021	87
2020	759
2019	598
Prior	7,154
Revolving Loans at Amortized Cost Basis	20,425
Total	35,451	32,383
Current period gross charge-offs
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	0	0
Commercial and Industrial | Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	4,724
2022	1,269
2021	87
2020	759
2019	598
Prior	7,154
Revolving Loans at Amortized Cost Basis	20,148
Total	34,739	32,383
Commercial and Industrial | OAEM
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	0	0
Commercial and Industrial | Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	435
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	277
Total	712	0
Commercial and Industrial | Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	0	0
Construction
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	323
2022	3,335
2021	4,499
2020	195
2019	0
Prior	1,091
Revolving Loans at Amortized Cost Basis	148,113
Total	157,556	192,357
Current period gross charge-offs
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	0	0
Construction | Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	323
2022	3,335
2021	4,499
2020	195
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	148,113
Total	156,465	191,266
Construction | OAEM
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	0	0
Construction | Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	1,091
Revolving Loans at Amortized Cost Basis	0
Total	1,091	1,091
Construction | Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	0	0
Real Estate Mortgage: | Commercial – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	19,842
2022	36,030
2021	21,536
2020	7,104
2019	8,346
Prior	46,366
Revolving Loans at Amortized Cost Basis	2,518
Total	141,742	125,950
Current period gross charge-offs
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	0	0
Real Estate Mortgage: | Commercial – Non-owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	19,123
2022	93,805
2021	37,002
2020	33,566
2019	57,070
Prior	128,163
Revolving Loans at Amortized Cost Basis	1,180
Total	369,909	377,452
Current period gross charge-offs
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	0	0
Real Estate Mortgage: | Residential – 1 to 4 Family
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	58,513
2022	117,044
2021	61,580
2020	33,322
2019	26,394
Prior	148,124
Revolving Loans at Amortized Cost Basis	4,705
Total	449,682	444,820
Current period gross charge-offs
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	0	66
Real Estate Mortgage: | Residential – 1 to 4 Family | Performing
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	58,358
2022	117,044
2021	61,580
2020	33,037
2019	25,623
Prior	148,124
Revolving Loans at Amortized Cost Basis	4,705
Total	448,471
Real Estate Mortgage: | Residential – 1 to 4 Family | Nonperforming
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	155
2022	0
2021	0
2020	285
2019	771
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	1,211
Real Estate Mortgage: | Residential - 1 to 4 Family Investment
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	87,734
2022	138,884
2021	116,487
2020	50,119
2019	54,576
Prior	76,367
Revolving Loans at Amortized Cost Basis	0
Total	524,167	476,210
Current period gross charge-offs
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	0	0
Real Estate Mortgage: | Residential - 1 to 4 Family Investment | Performing
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	87,734
2022	138,884
2021	116,487
2020	50,119
2019	54,576
Prior	76,367
Revolving Loans at Amortized Cost Basis	0
Total	524,167
Real Estate Mortgage: | Residential - 1 to 4 Family Investment | Nonperforming
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	0
Real Estate Mortgage: | Residential – Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	2,292
2022	23,030
2021	27,006
2020	12,159
2019	9,989
Prior	28,848
Revolving Loans at Amortized Cost Basis	0
Total	103,324	95,556
Current period gross charge-offs
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	0	0
Real Estate Mortgage: | Pass | Commercial – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	19,842
2022	36,030
2021	21,536
2020	7,104
2019	8,346
Prior	45,249
Revolving Loans at Amortized Cost Basis	2,518
Total	140,625	122,523
Real Estate Mortgage: | Pass | Commercial – Non-owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	19,123
2022	93,805
2021	37,002
2020	33,316
2019	54,484
Prior	112,471
Revolving Loans at Amortized Cost Basis	1,180
Total	351,381	362,899
Real Estate Mortgage: | Pass | Residential – Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	2,292
2022	23,030
2021	27,006
2020	12,159
2019	9,989
Prior	28,848
Revolving Loans at Amortized Cost Basis	0
Total	103,324	95,556
Real Estate Mortgage: | OAEM | Commercial – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	0	3,027
Real Estate Mortgage: | OAEM | Commercial – Non-owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	15,421
Revolving Loans at Amortized Cost Basis	0
Total	15,421	0
Real Estate Mortgage: | OAEM | Residential – Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	0	0
Real Estate Mortgage: | Substandard | Commercial – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	1,117
Revolving Loans at Amortized Cost Basis	0
Total	1,117	400
Real Estate Mortgage: | Substandard | Commercial – Non-owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	250
2019	2,586
Prior	271
Revolving Loans at Amortized Cost Basis	0
Total	3,107	14,553
Real Estate Mortgage: | Substandard | Residential – Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	0	0
Real Estate Mortgage: | Doubtful | Commercial – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	0	0
Real Estate Mortgage: | Doubtful | Commercial – Non-owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	0	0
Real Estate Mortgage: | Doubtful | Residential – Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	0	0
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	5,493
Revolving Loans at Amortized Cost Basis	16
Total	5,509	6,731
Current period gross charge-offs
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	0	0
Consumer | Performing
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	5,493
Revolving Loans at Amortized Cost Basis	16
Total	5,509
Consumer | Nonperforming
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans at Amortized Cost Basis	0
Total	$ 0
Consumer | Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		6,661
Consumer | OAEM
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		0
Consumer | Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		70
Consumer | Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		$ 0

Loans Receivable and Allowan_10

Loans Receivable and Allowance for Credit Losses - Credit Quality Indicators (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 1,787,340	$ 1,751,459
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		1,732,156
OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		3,027
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		16,276
Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		0
Commercial and Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	35,451	32,383
Commercial and Industrial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	34,739	32,383
Commercial and Industrial | OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Commercial and Industrial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	712	0
Commercial and Industrial | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	157,556	192,357
Construction | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	156,465	191,266
Construction | OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Construction | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	1,091	1,091
Construction | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage: | Commercial – Owner Occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	141,742	125,950
Real Estate Mortgage: | Commercial – Non-owner Occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	369,909	377,452
Real Estate Mortgage: | Residential – 1 to 4 Family
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		921,030
Real Estate Mortgage: | Residential – Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	103,324	95,556
Real Estate Mortgage: | Pass | Commercial – Owner Occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	140,625	122,523
Real Estate Mortgage: | Pass | Commercial – Non-owner Occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	351,381	362,899
Real Estate Mortgage: | Pass | Residential – 1 to 4 Family
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		920,868
Real Estate Mortgage: | Pass | Residential – Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	103,324	95,556
Real Estate Mortgage: | OAEM | Commercial – Owner Occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	3,027
Real Estate Mortgage: | OAEM | Commercial – Non-owner Occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	15,421	0
Real Estate Mortgage: | OAEM | Residential – 1 to 4 Family
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		0
Real Estate Mortgage: | OAEM | Residential – Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage: | Substandard | Commercial – Owner Occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	1,117	400
Real Estate Mortgage: | Substandard | Commercial – Non-owner Occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	3,107	14,553
Real Estate Mortgage: | Substandard | Residential – 1 to 4 Family
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		162
Real Estate Mortgage: | Substandard | Residential – Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage: | Doubtful | Commercial – Owner Occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage: | Doubtful | Commercial – Non-owner Occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage: | Doubtful | Residential – 1 to 4 Family
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		0
Real Estate Mortgage: | Doubtful | Residential – Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 5,509	6,731
Consumer | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		6,661
Consumer | OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		0
Consumer | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		70
Consumer | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		$ 0

Loans Receivable and Allowan_11

Loans Receivable and Allowance for Credit Losses - Impaired Loans (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Recorded Investment
With no related allowance recorded	$ 12,439
With an allowance recorded	9,294
Total recorded investment	21,733
Unpaid Principal Balance
With no related allowance recorded	17,156
With an allowance recorded	9,294
Total unpaid principal balance	26,450
Related Allowance
Total related allowance	549
Average recorded investment and interest income recognized
Average Recorded Investment	14,706
Interest Income Recognized	697
Commercial and Industrial
Recorded Investment
With no related allowance recorded	0
With an allowance recorded	0
Total recorded investment	0
Unpaid Principal Balance
With no related allowance recorded	0
With an allowance recorded	0
Total unpaid principal balance	0
Related Allowance
Total related allowance	0
Average recorded investment and interest income recognized
Average Recorded Investment	114
Interest Income Recognized	0
Construction
Recorded Investment
With no related allowance recorded	1,091
With an allowance recorded	0
Total recorded investment	1,091
Unpaid Principal Balance
With no related allowance recorded	5,808
With an allowance recorded	0
Total unpaid principal balance	5,808
Related Allowance
Total related allowance	0
Average recorded investment and interest income recognized
Average Recorded Investment	1,129
Interest Income Recognized	0
Real Estate Mortgage: | Commercial – Owner Occupied
Recorded Investment
With no related allowance recorded	0
With an allowance recorded	587
Total recorded investment	587
Unpaid Principal Balance
With no related allowance recorded	0
With an allowance recorded	587
Total unpaid principal balance	587
Related Allowance
Total related allowance	31
Average recorded investment and interest income recognized
Average Recorded Investment	1,772
Interest Income Recognized	31
Real Estate Mortgage: | Commercial – Non-owner Occupied
Recorded Investment
With no related allowance recorded	11,116
With an allowance recorded	8,452
Total recorded investment	19,568
Unpaid Principal Balance
With no related allowance recorded	11,116
With an allowance recorded	8,452
Total unpaid principal balance	19,568
Related Allowance
Total related allowance	500
Average recorded investment and interest income recognized
Average Recorded Investment	11,108
Interest Income Recognized	645
Real Estate Mortgage: | Residential – 1 to 4 Family
Recorded Investment
With no related allowance recorded	162
With an allowance recorded	255
Total recorded investment	417
Unpaid Principal Balance
With no related allowance recorded	162
With an allowance recorded	255
Total unpaid principal balance	417
Related Allowance
Total related allowance	18
Average recorded investment and interest income recognized
Average Recorded Investment	541
Interest Income Recognized	20
Real Estate Mortgage: | Residential – Multifamily
Recorded Investment
With no related allowance recorded	0
With an allowance recorded	0
Total recorded investment	0
Unpaid Principal Balance
With no related allowance recorded	0
With an allowance recorded	0
Total unpaid principal balance	0
Related Allowance
Total related allowance	0
Average recorded investment and interest income recognized
Average Recorded Investment	0
Interest Income Recognized	0
Consumer
Recorded Investment
With no related allowance recorded	70
With an allowance recorded	0
Total recorded investment	70
Unpaid Principal Balance
With no related allowance recorded	70
With an allowance recorded	0
Total unpaid principal balance	70
Related Allowance
Total related allowance	0
Average recorded investment and interest income recognized
Average Recorded Investment	42
Interest Income Recognized	$ 1

Loans Receivable and Allowan_12

Loans Receivable and Allowance for Credit Losses - Related Party Loans (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Related party loans [Roll Forward]
Balance, beginning of year	$ 843
Advances	301
Less: repayments	(448)
Balance, end of year	$ 696

OREO - Narrative (Details)

OREO - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Real Estate [Abstract]
Other real estate	$ 1,550,000	$ 1,550,000	$ 1,654,000
Number of real estate properties owned | property	2
Sales of OREO, net	$ 161,000	2,426,000
Gains on sales of real estate	38,000	328,000
Write down of real estate carrying values	0
OREO expense, net of related income	$ 839,000	$ 493,000

OREO - Schedule of Analysis of

OREO - Schedule of Analysis of OREO activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Other Real Estate [Roll Forward]
Balance at beginning of period	$ 1,550,000	$ 1,654,000
Real estate acquired in settlement of loans	123,000	1,994,000
Sales of OREO, net	(161,000)	(2,426,000)
Valuation adjustments	38,000	328,000
Balance at end of period	$ 1,550,000	$ 1,550,000

Deposits - Schedule of Deposits

Deposits - Schedule of Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deposits, by Component, Alternative [Abstract]
Noninterest-bearing demand	$ 232,189	$ 352,546
NOWs	63,017	83,080
Money market deposits	567,080	348,680
Savings deposits	83,470	188,540
Time deposits over $250,000	93,696	119,009
Other time deposits	356,791	373,689
Brokered time deposits	156,584	110,437
Total deposits	$ 1,552,827	$ 1,575,981

Deposits - Schedule of Interest

Deposits - Schedule of Interest Expense (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Maturities of Time Deposits [Abstract]
2024	$ 567,442
2025	28,327
2026	8,363
2027	2,723
2028	216
Total	$ 607,071

Deposits - Scheduled Maturities

Deposits - Scheduled Maturities of Certificates of Deposit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Interest Expense on Deposit Liabilities, Disclosures [Abstract]
NOWs	$ 1,377	$ 417
Money market deposits	17,120	3,927
Savings deposits	1,486	905
Time deposits	15,232	4,890
Brokered time deposits	6,044	932
Total	$ 41,259	$ 11,071

Borrowings - Schedule of Analys

Borrowings - Schedule of Analysis of Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Jul. 15, 2020
Weighted Average Rate
Subordinated debentures	$ 43,111	$ 42,921
Federal Home Loan Bank advances
Amount
Advances maturing in less than one year	30,000	83,150
Advances maturing in one to three years	95,000	0
Federal Home Loan Bank advances	$ 125,000	$ 83,150
Weighted Average Rate
Advances maturing in less than one year	5.61%	1.84%
Advances maturing in one to three years	4.93%	0%
Subordinated debentures, capital trusts
Weighted Average Rate
Subordinated debentures	$ 13,403	$ 13,403
Subordinated debentures, capital trusts | Parke Capital Trust I
Weighted Average Rate
Subordinated debentures	$ 5,155	$ 5,155
Weighted Average Rate	7.30%	6.35%
Subordinated debentures, capital trusts | Parke Capital Trust II
Weighted Average Rate
Subordinated debentures	$ 5,155	$ 5,155
Weighted Average Rate	7.30%	6.35%
Subordinated debentures, capital trusts | Parke Capital Trust III
Weighted Average Rate
Subordinated debentures	$ 3,093	$ 3,093
Weighted Average Rate	7.15%	6.27%
Subordinated debentures notes, net
Weighted Average Rate
Subordinated debentures	$ 29,708	$ 29,518
Weighted Average Rate	6.50%	6.50%	6.50%

Borrowings - Narrative (Details

Borrowings - Narrative (Details) - USD ($)		12 Months Ended
	Jul. 15, 2020	Dec. 31, 2023	Dec. 31, 2022	Jun. 21, 2007	Aug. 23, 2005
Debt Instrument [Line Items]
Subordinated debentures		$ 43,111,000	$ 42,921,000
Federal Home Loan Bank advances
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		944,400,000
Line of credit facility amount outstanding		125,000,000
Letters of credit		50,000,000
Line of credit facility, remaining borrowing capacity		769,400,000
Subordinated debentures, capital trusts
Debt Instrument [Line Items]
Subordinated debentures		$ 13,403,000	$ 13,403,000
Subordinated debentures, capital trusts | SOFR
Debt Instrument [Line Items]
Credit spread adjustment		0.26161%
Subordinated debentures, capital trusts | Parke Capital Trust I
Debt Instrument [Line Items]
Aggregate principal amount					$ 5,000,000
Basis spread on variable rate		1.66%
Debt, weighted average interest rate		7.30%	6.35%
Subordinated debentures		$ 5,155,000	$ 5,155,000
Proceeds from debentures allocated to paid in capital at bank		4,200,000
Proceeds from debentures retained at company for future use		$ 955,000
Subordinated debentures, capital trusts | Parke Capital Trust II
Debt Instrument [Line Items]
Aggregate principal amount					$ 5,000,000
Basis spread on variable rate		1.66%
Debt, weighted average interest rate		7.30%	6.35%
Subordinated debentures		$ 5,155,000	$ 5,155,000
Proceeds from debentures allocated to paid in capital at bank		4,200,000
Proceeds from debentures retained at company for future use		$ 955,000
Subordinated debentures, capital trusts | Parke Capital Trust III
Debt Instrument [Line Items]
Aggregate principal amount				$ 3,000,000
Basis spread on variable rate		1.50%
Debt, weighted average interest rate		7.15%	6.27%
Subordinated debentures		$ 3,093,000	$ 3,093,000
Subordinated debentures notes, net
Debt Instrument [Line Items]
Aggregate principal amount	$ 30,000,000
Debt, weighted average interest rate	6.50%	6.50%	6.50%
Subordinated debentures		$ 29,708,000	$ 29,518,000
Debt instrument, term	10 years
Debt issuance costs	$ 948,000
Subordinated debentures notes, net | SOFR
Debt Instrument [Line Items]
Basis spread on variable rate	6.44%

Premises and Equipment (Details

Premises and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total premises and equipment	$ 12,265	$ 12,370
Less: accumulated depreciation and amortization	(6,686)	(6,412)
Premises and equipment, net	5,579	5,958
Depreciation and amortization expense	401	457
Land
Property, Plant and Equipment [Line Items]
Total premises and equipment	1,044	1,044
Building and improvements
Property, Plant and Equipment [Line Items]
Total premises and equipment	7,275	7,282
Furniture and equipment
Property, Plant and Equipment [Line Items]
Total premises and equipment	$ 3,946	$ 4,044

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) branch
Leases [Abstract]
Number of retail branches | branch	3
Remaining lease term except the land lease	10 years
Remaining lease term of land lease	82 years
Future minimum lease payments	$ 27,309
Imputed interest	24,854
Operating lease, liability	$ 2,455
Weighted average remaining lease term (in years)	48 years 1 month 6 days
Weighted average discount rate	7.21%

Leases - Assets and Liabilities

Leases - Assets and Liabilities (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
Lease right of use assets (ROU)	$ 2,455
Lease liabilities	$ 2,455
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other Liabilities

Leases - Future Undiscounted Ca

Leases - Future Undiscounted Cash Flows on Operating Leases (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 360
2025	365
2026	283
2027	187
2028	192
Thereafter	25,922
Total undiscounted lease payments	27,309
Impact of present value discount	$ (24,854)

Shareholders' Equity - Common S

Shareholders' Equity - Common Stock Dividend (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Cash dividend (in dollars per share)	$ 0.18	$ 0.18	$ 0.18	$ 0.18	$ 0.18	$ 0.18	$ 0.16	$ 0.16
Cash dividend paid									$ 8,600,000	$ 7,900,000
Treasury stock acquired (in shares)									0	0
Granted (in shares)									0	202,500
Weighted average grant date fair value (in dollars per share)										$ 21.66
Expiration period										10 years
Vesting period										5 years
Award vesting rights, percentage										20%
Fair value of options granted (in dollars per share)					$ 4.96					$ 4.96
Risk-free interest rate										3.25%
Expected term										6 years 6 months
Expected volatility										27.07%
Dividend yield										2.95%
Compensation cost not yet recognized	$ 900,000				$ 1,300,000				$ 900,000	$ 1,300,000
Aggregate intrinsic value, exercisable	2,700,000				1,700,000				2,700,000	1,700,000
Aggregate intrinsic value, outstanding	$ 3,100,000				$ 3,300,000				3,100,000	3,300,000
Aggregate intrinsic value of options exercised									$ 45,000	$ 508,600
Common Stock Options
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Cost not yet recognized, period for recognition									3 years 4 months 24 days	4 years 2 months 12 days
Equity Option
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share-based compensation expense									$ 397,800	$ 348,700
2020 Equity Incentive Plan | Common Stock Options
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares authorized to be purchased (in shares)	935,000								935,000
Number of remaining shares available for grant (in shares)	455,000								455,000
2020 Equity Incentive Plan | Restricted Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares authorized to be purchased (in shares)	55,000								55,000
Number of remaining shares available for grant (in shares)	48,482								48,482
Vesting period									5 years
Share-based compensation expense									$ 40,006,000	$ 46,007,000
Expense remaining to be recognized	$ 72,000								$ 72,000

Shareholders' Equity - Schedule

Shareholders' Equity - Schedule of Stock Options Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Shares
Outstanding beginning balance (in shares)	689,127
Granted (in shares)	0	202,500
Exercised (in shares)	(3,782)
Forfeited (in shares)	(4,000)
Outstanding ending balance (in shares)	681,345	689,127
Exercisable (in shares)	470,349
Weighted Average Exercise Price
Outstanding beginning balance (in dollars per share)	$ 15.93
Granted (in dollars per share)	0
Exercised (in dollars per share)	8.95
Forfeited (in dollars per share)	21.66
Outstanding ending balance (in dollars per share)	15.94	$ 15.93
Exercisable (in dollars per share)	$ 14.90

Shareholders' Equity - Schedu_2

Shareholders' Equity - Schedule of Share-Based Payment Arrangement, Restricted Stock Unit, Activity (Details) - Restricted Stock Units (RSUs)	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Restricted Stock Units
Outstanding and unvested, beginning balance (in shares) | shares	5,691
Granted (in shares) | shares	0
Vested (in shares) | shares	(2,022)
Outstanding and unvested, ending balance (in shares) | shares	3,669
Weighted Average Grant-Date Fair Value
Outstanding and unvested, beginning balance (in dollars per share) | $ / shares	$ 19.69
Granted (in dollars per share) | $ / shares
Vested (in dollars per share) | $ / shares	19.77
Outstanding and unvested, ending balance (in dollars per share) | $ / shares	$ 19.64

Shareholders' Equity - Preferre

Shareholders' Equity - Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	12 Months Ended
	Oct. 10, 2013	Dec. 31, 2013	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Perpetual preferred stock, liquidation preference (in dollars per share)			$ 1,000	$ 1,000
Preferred stock, shares outstanding (in shares)			375	445
Dividend on preferred stock			$ 26,000	$ 27,000
Cash dividend on preferred stock (in dollars per share)			$ 15
Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares outstanding (in shares)			375,000	445,000	445,000
Shares issued upon conversion (in shares)			(70,000)
Stock converted (in shares)			70
Common Stock
Class of Stock [Line Items]
Shares issued upon conversion (in shares)			9,628
Stock converted (in shares)			9,628
Series B Preferred Stock
Class of Stock [Line Items]
Perpetual preferred stock, dividend rate		6%
Perpetual preferred stock, liquidation preference (in dollars per share)		$ 1,000
Perpetual preferred stock, issued through placement (in shares)		20,000
Gross proceeds from issuance of perpetual preferred stock		$ 20,000
Conversion rate of convertible stock (in shares)			137.6
Preferred stock, shares outstanding (in shares)			375
Shares issued upon conversion (in shares)		51,600
Conversion price (in dollars per share)	$ 10.64
Preferred stock redemption premium	20%

Income Taxes - Income Tax Expen

Income Taxes - Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Current tax expense:
Federal	$ 6,886	$ 12,696
State	2,336	2,865
Total	9,222	15,561
Deferred tax expense/(benefit)	6	(1,308)
Income tax expense	$ 9,228	$ 14,253

Income Taxes - Deferred Assets

Income Taxes - Deferred Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Allowance for credit losses	$ 7,575	$ 7,758
Supplemental Executive Retirement Plan ("SERP")	1,636	1,537
Deferred Loan Fees	1,322	1,254
Nonaccrued interest	58	67
Non-qualified stock options and restricted stock	318	210
Write-down on partnership investment	138	133
Unrealized loss on securities	140	183
PPP Deferred Loan Fees	1	4
Other	210	54
Deferred tax assets	11,398	11,200
Valuation allowance	(138)	(133)
Total gross deferred tax assets	11,260	11,067
Deferred tax liabilities:
Depreciation	(71)	(79)
Partnership income	(58)	(55)
Deferred loan costs	(1,869)	(1,749)
Total gross deferred tax liabilities	(1,998)	(1,883)
Net deferred tax asset	$ 9,262	$ 9,184

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
At Federal statutory rate	$ 7,915	$ 11,776
Adjustments resulting from:
State income taxes, net of Federal tax benefit	1,557	2,400
Non-controlling interest	0	0
Tax exempt income	(20)	(22)
BOLI	(155)	(119)
Stock compensation	(8)	(89)
Nondeductible expenses	1	1
Nondeductible executive compensation	84	84
Other	(146)	222
Income tax expense	$ 9,228	$ 14,253

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income tax expense	$ 9,228	$ 14,253
Net income	$ 37,700	$ 56,100
Effective tax rate	24.50%	25.40%

Retirement Plans - Narrative (D

Retirement Plans - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Employee contribution	3%
Plan expenses	$ 243,000	$ 246,000
Supplemental Employee Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost	367,000	449,000
Unfunded benefit obligation	$ 6,400,000	$ 6,300,000
Discount rate of benefit obligation	5.50%	5.50%
Estimated annual benefit payments for 2024	$ 525,696
Estimated annual benefit payments for 2025	812,346
Estimated annual benefit payments for 2026	812,346
Estimated annual benefit payments for 2027	812,346
Estimated annual benefit payments for 2028	812,346
Estimated annual benefit payments, thereafter	$ 4,900,000

Retirement Plans - Schedule of

Retirement Plans - Schedule of Benefit Obligation (Details) - Supplemental Employee Retirement Plans - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined benefit plan change in benefit obligation [Roll Forward]
Benefit obligation, January 1	$ 6,311	$ 6,101
Service cost/(benefit)	27	121
Interest cost	340	328
Benefits paid	(239)	(239)
Accrued liability at December 31	$ 6,439	$ 6,311

Retirement Plans - Schedule o_2

Retirement Plans - Schedule of Net Periodic Pension Cost (Details) - Supplemental Employee Retirement Plans - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 27,000	$ 121,000
Interest cost	340,000	328,000
Net periodic benefit cost	$ 367,000	$ 449,000

Regulatory Matters (Details)

Regulatory Matters (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Parke Bancorp Inc.
Total risk-based capital
Total risk-based capital, Actual, Amount	$ 345,607	$ 298,056
Total risk-based capital, For Capital Adequacy Purposes, Amount	$ 114,291	$ 115,797
Total risk-based capital
Total risk-based capital, Actual, Ratio	0.2419	0.2059
Total risk-based capital, For Capital Adequacy Purposes, Ratio	0.0800	0.0800
Tier 1 Capital, Actual, Ratio	0.2084	0.1934
Tier 1 Capital, For Capital Adequacy Purposes, Ratio	0.0600	0.0600
Tier 1 risk-based capital
Actual, Amount	$ 297,749	$ 279,963
Tier 1 risk-based capital, For Capital Adequacy Purposes, Amount	85,718	86,848
Tier 1 leverage (Amount)
Tier 1 leverage, Actual, Amount	297,749	279,963
Tier 1 leverage, For Capital Adequacy Purposes, Amount	$ 79,207	$ 77,775
Tier 1 leverage (Ratio)
Tier 1 leverage, Actual, Ratio	0.1504	0.1440
Tier 1 leverage, For Capital Adequacy Purposes, Ratio	0.0400	0.0400
Tier 1 common equity
Tier 1 common equity, Actual, Amount	$ 284,346	$ 266,115
Tier 1 common equity, Actual, Ratio	0.1990	0.1838
Tier 1 common equity, For Capital Adequacy Purpose, Amount	$ 64,289	$ 65,136
Tier 1 common equity, For Capital Adequacy Purpose, Ratio	4.50%	4.50%
Parke Bank
Tier 1 leverage (Amount)
Tier 1 leverage, Actual, Amount	$ 326,465	$ 308,155
Tier 1 leverage, For Capital Adequacy Purposes, Amount	$ 178,233	$ 175,009
Tier 1 leverage (Ratio)
Tier 1 leverage, Actual, Ratio	0.1649	0.1585
Tier 1 leverage, For Capital Adequacy Purposes, Ratio	0.0900	0.0900

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2023	Dec. 31, 2021	Mar. 06, 2015	May 20, 2014
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Commitments fixed rates loans	$ 0
Retained earnings	(149,437,000)	$ (131,706,000)	$ (129,604,000)
ACL for unfunded commitments		0	960,000
Deposits	1,552,827,000	1,575,981,000
Loans, net of unearned income	1,787,340,000	1,751,459,000
Original principal amount	32,131,000	31,845,000	33,703,000	$ 29,845,000
Absecon Gardens Condominium Association v. Parke Bank Matter | Pending Litigation
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Loss contingency, damages, value	1,700,000
Mori Restaurant LLC v. Parke Bank Matter | Pending Litigation
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Original principal amount					$ 1,400,000	$ 1,000,000
Medical Use Cannabis Customers, Deposit Balances
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Deposits	$ 96,700,000	$ 177,300,000
Deposits Benchmark | Product Concentration Risk | Medical Use Cannabis Customers, Deposit Balances
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Concentration risk, percentage	6.20%	11.30%
Medical Use Cannabis Customers, Deposit Balances | Customer Concentration Risk | Two Customers
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Concentration risk, percentage	60.60%	36.90%
Accounting Standards Update 2016-13
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Retained earnings			2,100,000
ACL for unfunded commitments	$ 500,000	$ 0	960,000
Provisions (benefits)	500,000	0
Original principal amount		1,858,000
Unfunded Loan Commitment | Accounting Standards Update 2016-13
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Retained earnings			$ 1,000,000
Cannabis Related Loan
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Loans, net of unearned income	27,100,000	3,800,000
Commitments to Extend Credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet risks liability	93,800,000	159,000,000
Standby Letters of Credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet risks liability	$ 1,500,000	$ 1,500,000

Fair Value - Assets and Liabili

Fair Value - Assets and Liabilities at Fair Value (Details) - Recurring - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 7,095	$ 9,366
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	7,095	9,366
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0	0
Corporate debt obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale		500
Corporate debt obligations | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale		0
Corporate debt obligations | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale		500
Corporate debt obligations | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale		0
Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	7,095	8,866
Residential mortgage-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	0	0
Residential mortgage-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	7,095	8,866
Residential mortgage-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	$ 0	0
Collateralized mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale		0
Collateralized mortgage-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale		0
Collateralized mortgage-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale		0
Collateralized mortgage-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale		$ 0

Fair Value - Fair Value on a No

Fair Value - Fair Value on a Non-recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Minimum
Fair value on a non-recurring basis [Abstract]
Underlying collateral less cost to sell percentage	5%
Maximum
Fair value on a non-recurring basis [Abstract]
Underlying collateral less cost to sell percentage	10%
Nonrecurring
Fair value on a non-recurring basis [Abstract]
Collateral dependent loans	$ 1,655	$ 1,091
OREO	1,550	1,550
Nonrecurring | Level 1
Fair value on a non-recurring basis [Abstract]
Collateral dependent loans	0	0
OREO	0	0
Nonrecurring | Level 2
Fair value on a non-recurring basis [Abstract]
Collateral dependent loans	0	0
OREO	0	0
Nonrecurring | Level 3
Fair value on a non-recurring basis [Abstract]
Collateral dependent loans	1,655	1,091
OREO	$ 1,550	$ 1,550

Fair Value - Carrying and Fair

Fair Value - Carrying and Fair Values for Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial Assets:
Investment securities HTM	$ 7,892	$ 7,805
Carrying Amount
Financial Assets:
Cash and cash equivalents	180,376	182,150
Investment securities AFS	7,095	9,366
Investment securities HTM	9,292	9,378
Restricted stock	7,636	5,439
Loans, net	1,755,209	1,719,614
Accrued interest receivable	8,555	8,768
Financial Liabilities:
Non-time deposits	945,756	972,846
Time deposits	0	603,135
Borrowings	168,111	126,071
Accrued interest payable	4,146	2,664
Fair Value
Financial Assets:
Cash and cash equivalents	180,376	182,150
Investment securities AFS	7,095	9,366
Investment securities HTM	7,892	7,805
Restricted stock	7,636	5,439
Loans, net	1,727,842	1,661,974
Accrued interest receivable	8,555	8,768
Financial Liabilities:
Non-time deposits	945,756	972,846
Time deposits	605,216	609,097
Borrowings	172,985	127,254
Accrued interest payable	4,146	2,664
Fair Value | Level 1
Financial Assets:
Cash and cash equivalents	180,376	182,150
Investment securities AFS	0	0
Investment securities HTM	0	0
Restricted stock	0	0
Loans, net	0	0
Accrued interest receivable	0	0
Financial Liabilities:
Non-time deposits	945,756	0
Time deposits	0	0
Borrowings	0	0
Accrued interest payable	0	0
Fair Value | Level 2
Financial Assets:
Cash and cash equivalents	0	0
Investment securities AFS	7,095	9,366
Investment securities HTM	7,892	7,805
Restricted stock	0	0
Loans, net	1,718,866	1,641,444
Accrued interest receivable	8,555	8,768
Financial Liabilities:
Non-time deposits	0	972,846
Time deposits	605,216	609,097
Borrowings	172,985	127,254
Accrued interest payable	4,146	2,664
Fair Value | Level 3
Financial Assets:
Cash and cash equivalents	0	0
Investment securities AFS	0	0
Investment securities HTM	0	0
Restricted stock	7,636	5,439
Loans, net	8,976	20,530
Accrued interest receivable	0	0
Financial Liabilities:
Non-time deposits	0	0
Time deposits	0	0
Borrowings	0	0
Accrued interest payable	$ 0	$ 0

Parent Company Only Financial_3

Parent Company Only Financial Statements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Assets:
Total Assets	$ 2,023,500	$ 1,984,915
Liabilities and Equity:
Subordinated debentures	43,111	42,921
Total liabilities and shareholders' equity	2,023,500	1,984,915
Income:
Total income	112,704	87,483
Expense:
Total interest expense	48,490	14,156
Net Income	37,700	56,100
Net income	28,462	41,823
Preferred stock dividend and discount accretion	(26)	(27)
Net income available to common shareholders	28,436	41,796
Cash Flows from Operating Activities
Net income	28,462	41,823
Changes in
(Increase) decrease in other assets	(4,955)	(727)
Increase in accrued interest payable and other accrued liabilities	917	1,789
Net cash provided by operating activities	23,018	43,450
Cash Flows from Financing Activities
Proceeds from exercise of stock options	33	406
Net cash provided by (used in) financing activities	10,100	(194,909)
Increase in cash and cash equivalents	(1,774)	(414,403)
Cash and Cash Equivalents, January 1,	182,150	596,553
Cash and Cash Equivalents, December 31,	180,376	182,150
Parke Bancorp Inc.
Assets:
Cash	4,111	4,059
Investments in subsidiaries	326,464	308,030
Total Assets	330,575	312,089
Liabilities and Equity:
Subordinated debentures	43,111	42,921
Other liabilities	3,147	3,134
Equity	284,317	266,034
Total liabilities and shareholders' equity	330,575	312,089
Income:
Dividends from bank subsidiary	11,772	10,766
Total income	11,772	10,766
Expense:
Interest on subordinated debentures	3,048	2,586
Salary	160	160
Other expenses	118	118
Total interest expense	3,326	2,864
Net Income	8,446	7,902
Equity in undistributed income of subsidiaries	20,016	33,921
Net income	28,462	41,823
Preferred stock dividend and discount accretion	(26)	(27)
Net income available to common shareholders	28,436	41,796
Cash Flows from Operating Activities
Net income	28,462	41,823
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries	(20,016)	(33,921)
Amortization of subordinate debt issuance costs	190	190
Changes in
(Increase) decrease in other assets	0	(2)
Increase in accrued interest payable and other accrued liabilities	12	55
Net cash provided by operating activities	8,648	8,145
Cash Flows from Financing Activities
Proceeds from exercise of stock options	33	406
Payment of dividend on preferred stock and common stock	(8,629)	(7,886)
Net cash provided by (used in) financing activities	(8,596)	(7,480)
Increase in cash and cash equivalents	52	665
Cash and Cash Equivalents, January 1,	4,059	3,394
Cash and Cash Equivalents, December 31,	$ 4,111	$ 4,059