$PRK

PARK NATIONAL CORP /OH/

CIK:0000805676|SEC Filings

Consolidated Condensed Statements Of Income - USD ($)	3 Months Ended		6 Months Ended
Consolidated Condensed Statements Of Income - USD ($)	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest and dividend income:
Interest and fees on loans	$ 154,692,000	$ 125,543,000	$ 296,734,000	$ 246,191,000
Interest and dividends on:
Obligations of U.S. Government, its agencies and other securities	9,320,000	6,693,000	15,164,000	13,823,000
Interest Income, Securities, State and Municipal	2,123,000	1,503,000	4,349,000	2,772,000
Other interest income	6,192,000	2,757,000	10,857,000	5,910,000
Total interest and dividend income	172,327,000	136,496,000	327,104,000	268,696,000
Interest on deposits:
Demand and savings deposits	23,517,000	19,055,000	44,366,000	37,491,000
Time deposits	9,122,000	5,821,000	16,654,000	12,591,000
Interest on borrowings:
Short-term borrowings	600,000	300,000	1,067,000	591,000
Long-term debt	231,000	2,329,000	380,000	4,655,000
Total interest expense	33,470,000	27,505,000	62,467,000	55,328,000
Net interest income	138,857,000	108,991,000	264,637,000	213,368,000
Provision for credit losses	4,575,000	2,853,000	7,247,000	3,609,000
Net interest income after provision for credit losses	134,282,000	106,138,000	257,390,000	209,759,000
Noninterest Income [Abstract]
Debit card fee income	8,107,000	6,607,000	15,080,000	12,696,000
Bank owned life insurance income	2,125,000	1,762,000	3,832,000	3,274,000
ATM Fees	450,000	367,000	830,000	702,000
Debt Securities, Available-for-Sale, Gain (Loss)	0	0	1,084,000	0
Gain on equity securities, net	4,555,000	2,480,000	5,354,000	1,618,000
Other components of net periodic benefit income	2,449,000	2,344,000	4,941,000	4,688,000
Other	506,000	759,000	1,422,000	750,000
Total other income	39,540,000	32,186,000	73,268,000	57,932,000
Other expense:
Salaries and employee benefits	46,023,000	38,560,000	91,600,000	74,776,000
Employee Benefits and Share-based Compensation	11,918,000	9,108,000	23,610,000	19,624,000
Occupancy expense	4,027,000	3,269,000	8,599,000	6,788,000
Furniture and equipment expense	3,014,000	2,234,000	5,531,000	4,535,000
Data processing fees	15,113,000	11,021,000	28,254,000	21,550,000
Professional fees and services	8,731,000	7,395,000	25,559,000	14,702,000
Marketing	1,550,000	1,295,000	3,106,000	2,823,000
Insurance	1,986,000	1,667,000	4,060,000	3,353,000
Communication	1,400,000	941,000	2,825,000	2,143,000
Excise and Sales Taxes	1,529,000	1,350,000	2,896,000	2,536,000
Intangible Asset, Finite-Lived, Amortization Expense	2,072,000	273,000	3,351,000	547,000
Other expense	3,597,000	1,864,000	6,728,000	3,764,000
Total other expense	100,960,000	78,977,000	206,119,000	157,141,000
Income before income taxes	72,862,000	59,347,000	124,539,000	110,550,000
Income taxes	14,110,000	11,228,000	24,100,000	20,274,000
Net income	$ 58,752,000	$ 48,119,000	$ 100,439,000	$ 90,276,000
Net income available to common shareholders
Basic	$ 3.25	$ 2.98	$ 5.66	$ 5.59
Diluted	$ 3.23	$ 2.97	$ 5.64	$ 5.56
Weighted average common shares outstanding
Basic	18,085,919	16,129,951	17,733,921	16,144,647
Diluted	18,181,868	16,215,565	17,819,777	16,227,150
Cash dividends declared	$ 1.10	$ 1.07	$ 2.20	$ 2.14
Fiduciary and Trust [Member]
Noninterest Income [Abstract]
Revenue from Contract with Customer, Including Assessed Tax	$ 13,434,000	$ 11,622,000	$ 25,777,000	$ 22,616,000
Deposit Account [Member]
Noninterest Income [Abstract]
Revenue from Contract with Customer, Including Assessed Tax	3,790,000	2,514,000	7,138,000	4,921,000
Bank Servicing [Member]
Noninterest Income [Abstract]
Revenue from Contract with Customer, Including Assessed Tax	$ 4,124,000	$ 3,731,000	$ 7,810,000	$ 6,667,000

Consolidated Condensed Statements Of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
Net Income (Loss)	$ 100,439,000	$ 90,276,000
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	7,247,000	3,609,000
Amortization of Deferred Loan Origination Fees, Net	(5,804,000)	(4,843,000)
Net amortization of purchase accounting adjustments	740,000	209,000
Depreciation	5,807,000	5,741,000
(Accretion) amortization of investment securities, net	(1,034,000)	523,000
Gain (Loss) on Sale of Investments	(1,084,000)	0
Gain on equity securities, net	(5,354,000)	(1,618,000)
Loan originations to be sold in secondary market	(123,629,000)	(82,352,000)
Proceeds from sale of loans in secondary market	118,503,000	84,850,000
Share-based compensation expense	4,495,000	3,744,000
Bank owned life insurance income	(3,832,000)	(3,274,000)
Investment in qualified affordable housing tax credits amortization	4,521,000	4,551,000
Changes in assets and liabilities:
Increase in other assets	(340,000)	(3,730,000)
Decrease in other liabilities	(9,601,000)	(10,345,000)
Net cash provided by operating activities	88,045,000	87,189,000
Payments to Acquire Investments [Abstract]
Payments to Acquire Debt Securities, Available-for-sale	(567,522,000)	(86,971,000)
Equity securities	0	(3,159,000)
Proceeds from Sale and Maturity of Debt Securities, Available-for-Sale [Abstract]
Proceeds from Sale of Debt Securities, Available-for-sale	583,200,000	0
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale	140,730,000	147,380,000
Proceeds from Sale of Equity Securities, FV-NI	0	1,187,000
Proceeds from the sale of OREO	4,058,000	768,000
Payments to Acquire Other Investments	3,320,000	(783,000)
Payments for (Proceeds from) Federal Home Loan Bank Stock [Abstract]
Proceeds from Sale of Federal Home Loan Bank Stock	6,194,000	1,088,000
Payments to Acquire Federal Home Loan Bank Stock	(212,000)	(494,000)
Payments for (Proceeds from) Federal Reserve Bank Stock [Abstract]
Payments to Acquire Federal Reserve Bank Stock	(9,983,000)	0
Proceeds from Sale of Federal Reserve Bank Stock	2,191,000	0
Net loan originations, portfolio loans	(95,583,000)	(144,619,000)
Payment for Affordable Housing Program Obligation by Federal Home Loan Bank	(6,532,000)	(7,396,000)
Bank owned life insurance death benefits	1,884,000	2,539,000
Payment to Acquire Life Insurance Policy, Investing Activities	(2,540,000)	(2,763,000)
Payments to Acquire Businesses, Net of Cash Acquired	145,565,000	0
Purchases of premises and equipment	(10,955,000)	(2,391,000)
Net cash provided by (used in) investing activities	193,815,000	(95,614,000)
Financing activities:
Net increase in deposits	103,003,000	234,140,000
Increase (Decrease) in Other Deposits	105,265,000	(139,900,000)
Net (decrease) increase in short-term borrowings	(7,973,000)	5,238,000
Repayments of Subordinated Debt	(86,107,000)	0
Payment, Tax Withholding, Share-based Payment Arrangement	(2,988,000)	(2,948,000)
Cash dividends paid	(40,658,000)	(35,418,000)
Net cash provided by financing activities	64,936,000	40,978,000
Increase in cash and cash equivalents	346,796,000	32,553,000
Cash and cash equivalents at beginning of year	233,513,000	160,566,000
Cash and cash equivalents at end of period	580,309,000	193,119,000
Supplemental disclosures of cash flow information:
Cash paid for interest	64,110,000	55,302,000
Income Tax Paid, Federal, before Refund Received	12,000,000	14,000,000
Non cash activities:
Real Estate Owned, Transfer to Real Estate Owned	3,116,000	757,000
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	395,000	1,372,000
affordable housing program period increase decrease	11,000,000	11,000,000
Transfer to Investments	0	250,000
Consumer Portfolio Segment [Member]
Changes in assets and liabilities:
(Increase) decrease in prepaid dealer premiums	(734,000)	1,181,000
Mortgage Loans on Real Estate [Member]
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of loans in secondary market	$ (2,295,000)	$ (1,333,000)

Consolidated Condensed Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets:
Cash and due from banks	$ 144,485	$ 137,239
Money market instruments	435,824	96,274
Cash and cash equivalents	580,309	233,513
Marketable Securities [Abstract]
Debt Securities, Available-for-sale, Current	1,262,007	688,668
Other Investments and Securities, at Cost	127,372	113,474
Total investment securities	1,389,379	802,142
Loan balance	9,731,356	8,051,242
Financing Receivable, Allowance for Credit Loss	(110,686)	(92,973)
Net loans	9,620,670	7,958,269
Bank owned life insurance	280,037	241,662
Prepaid assets	205,418	197,814
Goodwill	263,917	159,595
Other intangible assets	37,069	2,395
Premises and equipment, net	96,430	61,627
Affordable housing tax credit investments	76,411	69,932
Other real estate owned	19,836	729
Interest Receivable	44,761	34,619
Operating Lease, Right-of-Use Asset	17,079	15,650
Servicing Asset	13,497	13,697
Other	32,197	13,369
Total assets	12,677,010	9,805,013
Liabilities and Shareholders' Equity:
Noninterest bearing	3,084,889	2,656,093
Interest bearing	7,585,395	5,587,620
Total deposits	10,670,284	8,243,713
Short-term borrowings	122,422	81,711
Subordinated debentures and notes	15,000	0
Unfunded commitments in affordable housing tax credit investments	30,054	25,586
Operating Lease, Liability	18,515	17,063
Off-Balance Sheet, Credit Loss, Liability	5,908	5,199
Accrued interest payable	6,226	4,076
Other	79,970	74,872
Total liabilities	10,948,379	8,452,220
Shareholders' equity:
Preferred shares (No par value; 200,000 shares authorized; No shares outstanding at June 30, 2026 or December 31, 2025)	0	0
Common Stock, Value, Issued	784,614	465,032
Retained earnings	1,128,448	1,067,823
Treasury shares (1,547,074 common shares at June 30, 2026 and 1,544,842 common shares at December 31, 2025)	(169,585)	(167,323)
Accumulated other comprehensive loss, net of taxes	(16,901)	(12,739)
Equity, Attributable to Parent, Total	1,726,576	1,352,793
Equity, Attributable to Noncontrolling Interest	2,055	0
Equity, Including Portion Attributable to Noncontrolling Interest, Total	1,728,631	1,352,793
Total liabilities and shareholders' equity	$ 12,677,010	$ 9,805,013