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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 10-Q/A
[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ending June 30, 1997
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________ to __________
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PARK BANCORP, INC.
(Exact name of Registrant as specified in its charter)
Delaware 36-4082530
(State of incorporation) (Commission (I.R.S. Employer
File Number) Identification No.)
2740 West 55th Street, Chicago, Illinois 60632
(773) 434-6040
(Address, including zip code, and telephone number, including
area code, of principal executive office)
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Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months, (or for such shorter period that the
registrant was required to file such reports) and (2) has been subject to
such filing requirements for the past 90 days.
YES: /X/ NO: / /
2,431,440 shares of common stock were outstanding as of August 4, 1997.
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PARK BANCORP, INC. AND SUBSIDIARY
CONSOLIDATED INCOME STATEMENT
(DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA)
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THREE MONTHS SIX MONTHS
ENDED JUNE 30, ENDED JUNE 30,
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1997 1996 1997 1996
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<S> <C> <C> <C> <C>
Interest income:
Loans receivable $1,396 $1,277 $2,800 $2,652
Securities 1,711 1,334 3,409 2,603
Other 23 - 71 -
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Total 3,130 2,611 6,280 5,255
Interest expense:
Deposits 1,493 1,556 2,991 3,108
Federal Home Loan Bank advances 50 4 121 5
Other borrowings 59 - 59 -
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Total 1,602 1,560 3,171 3,113
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Net interest income 1,528 1,051 3,109 2,142
Provision for loan losses - - - -
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Net interest income after provision for
loan losses 1,528 1,051 3,109 2,142
Noninterest income:
Income on sale of real estate 80 18 125 43
Service fee income 23 50 59 87
Other operating income 113 12 120 27
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Total noninterest income 216 80 304 157
Noninterest expense:
Compensation and benefits 645 432 1,236 868
Occupancy and equipment expense 114 100 234 226
Federal deposit insurance premiums 34 83 67 166
Data processing services 31 35 63 68
Advertising 46 7 69 25
Stationery, printing and supplies 26 31 60 43
Other operating expense 154 72 246 148
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Total noninterest expense 1,050 760 1,975 1,544
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Income before income taxes 694 371 1,438 755
Income tax expense 234 130 487 260
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Net income $ 460 $ 241 $ 951 $ 495
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Earnings per share $ .20 N/A $ .40 N/A
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
PARK BANCORP, INC.
/s/ David A. Remijas
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Date: August 7, 1997 David A Remijas
President and Chief Executive Officer
/s/ Steven J. Pokrak
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Date: August 7, 1997 Steven J. Pokrak
Treasurer and Chief Financial Officer
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