Filing Analysis
Parke Bancorp, Inc. has announced the declaration of a cash dividend of $0.18 per share. The dividend is payable on January 17, 2025, to shareholders of record as of January 3, 2025.
📋 Key Facts
- Dividend amount: $0.18 per share
- Record date: January 3, 2025
- Payment date: January 17, 2025
- Event type: Cash dividend declaration
Parke Bancorp, Inc. filed an 8-K to furnish its earnings press release for the three and nine months ended September 30, 2024. This is a routine regulatory filing used to disclose quarterly financial results.
📋 Key Facts
- Report date: October 18, 2024
- Reporting period: Three and nine months ended September 30, 2024
- The filing includes Exhibit 99.1 (Press Release) which is furnished but not filed under Section 18 of the Exchange Act.
Parke Bancorp, Inc. has declared a cash dividend of $0.18 per share. The dividend is payable on October 18, 2024, to shareholders of record as of the close of business on October 4, 2024.
📋 Key Facts
- Dividend amount: $0.18 per share
- Record date: October 4, 2024
- Payment date: October 18, 2024
- Dividend type: Cash dividend
Parke Bancorp, Inc. announced that its Board of Directors has authorized a stock repurchase program. The company intends to repurchase up to 5% of its outstanding common stock over the next twelve months.
📋 Key Facts
- Board of Directors adopted a stock repurchase program on August 2, 2024.
- The program allows for the repurchase of up to 5% of the Company's common stock.
- The repurchase period is set for twelve months from the announcement date, unless completed or extended sooner.
- Repurchases will be conducted via open market purchases in accordance with SEC regulations.
Parke Bancorp, Inc. filed an 8-K to furnish its earnings press release for the three and six months ended June 30, 2024. This is a routine quarterly results announcement.
📋 Key Facts
- Reported earnings for the three and six months ended June 30, 2024.
- Filed on July 19, 2024.
- Earnings information provided via Exhibit 99.1 (Press Release).
Parke Bancorp, Inc. announced the declaration of a cash dividend of $0.18 per share. The dividend is payable on July 19, 2024, to shareholders of record as of the close of business on July 5, 2024.
📋 Key Facts
- Dividend amount: $0.18 per share
- Record date: July 5, 2024
- Payment date: July 19, 2024
- Event type: Cash dividend declaration
Parke Bancorp, Inc. entered into a new Management Change In Control Severance Agreement with Ralph Gallo, Executive Vice President and Chief Operating Officer, effective retroactively to April 23, 2024.
🚩 Red Flags
- Potential significant cash outflow in the event of a future merger or acquisition (Change in Control).
📋 Key Facts
- Agreement is with Ralph Gallo, EVP and COO.
- The agreement is retroactive to April 23, 2024.
- Severance triggers upon involuntary termination without cause or voluntary resignation for good reason following a future change in control.
- Severance amount: Lump-sum equal to 2.5x the most recent three-year average salary and cash incentive/bonus payments (subject to Section 280G limits).
- Includes 18 months of medical, dental, and life insurance premium reimbursement.
- Subject to one-year non-compete and non-solicitation restrictions.
Parke Bancorp, Inc. reported the results of its annual meeting of shareholders held on April 23, 2024. The meeting included the election of directors and the ratification of the company's independent auditor.
📋 Key Facts
- Annual meeting of shareholders held on April 23, 2024.
- Daniel J. Dalton elected to the Board of Directors with 4,158,467 votes 'For'.
- Arret F. Dobson elected to the Board of Directors with 5,210,428 votes 'For'.
- Ratification of S.R. Snodgrass, P.C. as independent auditor for the fiscal year ending December 31, 2024, received 9,391,212 votes 'For'.
Parke Bancorp, Inc. filed an 8-K to furnish its earnings press release for the first quarter ended March 31, 2024. The filing serves as a formal mechanism to distribute quarterly financial results to the market.
📋 Key Facts
- Reported earnings for the three months ended March 31, 2024.
- Press release issued on April 19, 2024.
- The filing is pursuant to Item 2.02 (Results of Operations and Financial Condition).
Parke Bancorp, Inc. entered into a Management Change In Control Severance Agreement with its CFO, Jonathan D. Hill, on March 19, 2024. The agreement outlines severance benefits triggered by an involuntary termination or resignation for good reason following a future change in control.
🚩 Red Flags
- The agreement is specifically tied to a 'future change in control,' which may signal that the company is positioning itself for an M&A event or restructuring.
📋 Key Facts
- Agreement entered into on March 19, 2024.
- Applies to Jonathan D. Hill, Senior Vice President and Chief Financial Officer.
- Severance triggered by involuntary termination without cause or voluntary resignation for good reason following a change in control of the Company or Parke Bank.
- Lump-sum payment equal to 2.5 times the most recent three-year average salary and cash incentive/bonus payments (subject to Section 280G limits).
- Includes 18 months of medical, dental, and life insurance premium reimbursement.
- Subject to one-year non-compete and non-solicitation restrictions.
Parke Bancorp, Inc. announced the declaration of a cash dividend of $0.18 per share.
📋 Key Facts
- Dividend amount: $0.18 per share.
- Record date: April 5, 2024 (close of business).
- Payment date: April 19, 2024.
Parke Bancorp, Inc. filed an 8-K to announce its earnings results for the quarter and fiscal year ended December 31, 2023.
📋 Key Facts
- Earnings release issued on January 24, 2024.
- Covers financial results for the period ending December 31, 2023.
- The filing includes Exhibit 99.1 containing the press release.