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Two South Jersey bank firms have reported sharply higher earnings as executives expressed optimism for the year ahead. Cherry Hill-based 1st Colonial Bancorp Inc. on Monday posted net income of $1.7 million for the first quarter ended March 31, up from $5,000, or zero cents per share, a year earlier. That came after Parke Bancorp Inc. of Washington Township announced record first-quarter earnings of $9.4 million, or 79 cents per share. That compared to $7.2 million, or 61 cents per share, a year earlier. Both companies cited gains in non-interest income and lower provisions for loan losses, among other factors. 1st Colonial s improvement also reflected management changes and the addition of revenue-producing teams, said Robert White, who arrived in February 2020 as president and CEO. The firm operates 1st Colonial Community Bank.

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