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ParkeBank (PKBK) |
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CEOCFO Current
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This is a printer friendly page! ParkeBank
is a personalized service-type bank that focuses on the needs of small, mid-sized and
professional business for all banking and loan needs Parke Bank (PKBK-NASD) is a New Jersey-chartered
commercial bank that maintains its principal office in Washington Township. It also
conducts business through branch offices located in Northfield, New Jersey and the Kennedy
Office located also in Washington Township, New Jersey. The Bank is a full service
commercial bank, with an emphasis on providing personal and business financial services to
individuals and small- to mid- sized businesses in Gloucester, Atlantic and Cape May
Counties in New Jersey and the Philadelphia area in Pennsylvania. The Federal Deposit
Insurance Corporation (FDIC) insures the Bank's deposits up to the maximum legal amount. “One of the things about our small community bank that is a little
different than what you see in the area is that we do a lot of construction lending; close
to 30% of our loan portfolio is construction loans.” Vito S. Pantilione,
president and CEO of Parke Bank continues on to say, “That goes
from the spot-lot house for an owner building their own home, to a builder that might be
building a spec house, to a residential subdivision with 50 or 60 lots, to a 55,000 square
ft. refrigerated warehouse, to a 30,000 square ft. food distribution plant. We do many
different types of construction loans. I have been doing construction lending for thirty
years, and we have someone here that has been doing it longer than me. I think we are good
at that and we understand the construction industry. I built houses long ago, so I
understand the problems builders have with contractors and the need to get cash out to
them. We built up a nice book of business for construction loans.” Asked how
they reach new customers, Mr. Pantilione responds, “If you service someone in the proper manner, they will tell someone
else because they are business people. They say “if you are having a problem, go talk
to ParkeBank”. For example, we just took on an excellent client who was having
difficulty with a large bank. They were going from this committee to that committee and
the client was getting frustrated. An accounting firm in their area knew of ParkeBank as
being familiar with the construction industry, so they called us. We met with the owner
the next day, they laid out their needs for construction equipment financing and this
Thursday we will get the loan approved and will close it in a week. If you respond
properly, your reputation gets out there and spreads.” Addressing investors Mr. Pantilione says, “I think that the
one thing investors would not see by just looking at the financial make-up of the bank is
that we have a board of directors that is different than any I have sat on. It is made up
of our customer base; these are the same types of people that we are servicing and I think
that makes a huge difference. About fifty percent of the loans that we bring in, someone
knows the business and understands it. That means so much, and when you deal with someone
that understands your business, that is unique. If you look at our financials,
historically, I think you will see bank that has performed at the top of its peer group.
If you look at our history, there is strong growth and earnings. We operate just like any
other business, our product just happens to be money.” ParkeBank always has the diversified needs of their
customers in mind. They a full service financial institution dedicated to total
satisfaction. ParkeBank’s role is to promote a positive image of community banking
with an emphasis on providing customized products, personalized service and the ability to
identify with each of their customers and their needs. |
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