Ralph Bonadies
About Ralph Bonadies
Ralph A. Bonadies (age 68 at 12/31/2024) is Senior Vice President and Chief Risk Officer (CRO) at Parke Bancorp/Parke Bank; he joined in January 2023 after 20+ years in risk and compliance roles across banks and consulting . In addition to enterprise risk, he assumed BSA Officer responsibilities when the prior BSA Officer resigned, reflecting heightened regulatory focus on BSA/AML at the bank . Company performance context during his tenure: Net Income declined from $41.8M (2022) to $27.5M (2024), while cumulative TSR “value of $100 investment” moved from $152 (through 2022) to $109 (through 2024) as disclosed in the SEC pay-versus-performance tables .
| Company Performance Context | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Net Income ($USD) | $41,796,000 | $28,436,000 | $27,492,000 |
| “Value of $100” Cumulative TSR (per proxy) | $152 (12/31/2020–12/31/2022) | $151 (12/31/2020–12/31/2023) | $109 (period per 2024 table) |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Amboy Bank | Chief Risk Officer | 2021–2022 | Led enterprise risk function at a New Jersey bank |
| Crown Bank | BSA Officer & Compliance Officer | 2017–2021 | Oversaw BSA/AML and compliance program |
| Provident Bank | Compliance Manager | 2014–2017 | Managed regulatory compliance for a larger regional bank |
| RSM McGladrey | Regulatory Compliance Supervisor | 2011–2014 | Advised on regulatory compliance (consulting) |
| Freedom Credit Union | BSA Officer & Compliance Officer | 2003–2011 | Built and ran BSA/AML program |
External Roles
- None disclosed for Bonadies in the company’s proxy statements .
Fixed Compensation
- Not a Named Executive Officer (NEO); his base salary and cash compensation were not disclosed in the Summary Compensation Tables (which covered CEO, COO, CFO) .
Performance Compensation
- No individual bonus plan, equity grant, or performance metric detail was disclosed for Bonadies (non-NEO) .
- Program context: the Compensation Committee pays the CEO a bonus equal to 10% of bank pre-tax profit (capped at 50% of salary), while other NEO bonuses are discretionary; the Committee does not evaluate cumulative TSR when setting pay .
- Company equity practice: when granted, options vest 20% annually over five years; timing of grants is not set to MNPI .
Equity Ownership & Alignment
| Metric | 2023 (record date 3/13/2024) | 2025 (record date 3/12/2025) |
|---|---|---|
| Common shares beneficially owned | 56 | 56 |
| Stock options exercisable within 60 days | 0 | 0 |
| Shares pledged as collateral | None disclosed for Bonadies (table notes only cite 50,000 pledged shares for Director Dobson) | |
| Shares outstanding (for context) | 11,958,321 | 11,842,596 |
| Ownership as % of shares outstanding (calc.) | ~0.00047% (56 / 11,958,321) | ~0.00047% (56 / 11,842,596) |
Additional alignment considerations:
- The company has not adopted an anti-hedging/anti-pledging policy; hedging by officers and directors is not prohibited under the policy disclosed, which is a governance negative for alignment .
- No executive stock ownership guidelines are disclosed in the proxy materials reviewed .
Insider filings:
- SEC Form 5 (FY2023) lists Bonadies as Officer (SVP Chief Risk Officer) with 56 common shares beneficially owned and no reported derivative positions .
Employment Terms
- Title/Start: Senior Vice President and Chief Risk Officer; joined January 2023 .
- Agreements: The proxy discloses an employment agreement for the CEO and change‑in‑control (CIC) severance agreements for the COO and CFO; no CIC or employment agreement is disclosed for Bonadies .
- Non‑compete: CEO has a two‑year non‑compete in specified NJ counties; CFO’s CIC agreement includes a one‑year non‑compete; no such provisions are disclosed for Bonadies .
Investment Implications
- Alignment and selling pressure: With only 56 shares and no disclosed options or unvested equity, Bonadies has minimal “forced-seller” vesting events and limited skin-in-the-game; combined with the absence of an anti-hedging policy, this reduces direct shareholder alignment signals .
- Retention/CIC risk: Unlike the COO and CFO, Bonadies is not disclosed as having a CIC agreement, suggesting lower potential change‑in‑control costs but less retention protection in a sale scenario .
- Execution focus: Management meeting remarks underscore his dual remit over enterprise risk and BSA/AML during an elevated regulatory period—areas that can directly affect credit growth pacing, risk appetite, and expense run‑rate (compliance investments) .
- Governance watch‑items: Absence of hedging/pledging prohibitions and lack of ownership guidelines are governance red flags at the firm level; investors should monitor any future grants or policy changes that improve alignment .