Parke Bancorp, Inc. - Common Stock (PKBK)

Competitors to Parke Bancorp, Inc. - Common Stock (PKBK)

Bancorp of New Jersey, Inc.

Bancorp of New Jersey, Inc. provides a mix of commercial and residential banking services similar to Parke Bancorp. They cater to similar client demographics, focusing on local businesses and residents within the state. However, Bancorp of New Jersey has been expanding its digital banking services, which could increase its competitive posture against Parke. While both focus on community banking, Bancorp of New Jersey's tech upgrades create differentiation and draw in younger customers seeking modern banking solutions.

ConnectOne Bancorp, Inc. 

ConnectOne Bancorp competes with Parke Bancorp by offering similar community-focused banking services, including commercial loans and deposit products tailored for local businesses. Their strategy includes digital banking enhancements and personalized customer service, which resonate well with small to mid-sized enterprises. Although Parke has a strong community presence, ConnectOne’s innovative approach to technology integration in banking gives it a competitive edge, particularly in attracting tech-savvy customers.

OceanFirst Financial Corp. 

OceanFirst Financial Corp. competes directly with Parke Bancorp primarily in the New Jersey market by providing a full suite of banking services, including personal and commercial banking, as well as wealth management. OceanFirst has a broader product offering and a more extensive branch network, which gives it an edge in attracting and retaining customers seeking convenience and a variety of financial services. This competitive advantage in scale and customer reach positions OceanFirst as a leading competitor.

South Jersey Industries, Inc.

South Jersey Industries primarily operates in the utility and energy sector, focusing on regulated water and gas services. Its competition with Parke Bancorp arises in their overlapping interests in regional economic development and growth financing. While Parke Bancorp specializes in banking and financial services tailored towards local businesses, South Jersey Industries may leverage its strong position in energy to attract investments and partnerships, posing competition in the regional economic sphere.

Valley National Bancorp 

Valley National Bancorp competes with Parke Bancorp by providing a wide range of financial products and services, including commercial banking, retail banking, and investment services. Valley National's established presence across New Jersey and other regions enables it to offer a comprehensive service package which may appeal to larger businesses compared to the more specialized offerings from Parke. Their substantial asset base and diverse customer segments allow them to leverage economies of scale, making them a formidable competitor.