PARK NATIONAL CORP /OH/

Listed Company

PRKCIK 0000805676NYSELarge AcceleratedNational Commercial BanksOhioFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$180.07M

Total Assets

$9.81B

Equity

$1.35B

Shares Out

18.07M

Op. Cash Flow

$198.32M

+ 13F Filer

Business

PARK NATIONAL CORP /OH/ is a financial holding company that owns and oversees banking and financial services subsidiaries, primarily Park National Bank. It provides deposit accounts, commercial and consumer lending, residential and construction real estate lending, wealth management and trust services, aircraft financing, commercial cash management, electronic funds transfers and internet and mobile banking. Its principal operating subsidiaries include a national bank, consumer finance, OREO and asset management affiliates and an aircraft finance company. Park distributes services through branch offices, ATMs, telephone, and online and mobile channels across Ohio, Kentucky, North Carolina and South Carolina.

Summary from filing dated 2025-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and Fee Income, Loans and Leases	500	468	400	323	317
Interest Income, Securities, US Treasury and Other US Government	24	42	53	36	19
Interest Income, Securities, State and Municipal	6	6	11	11	8
Other Interest and Dividend Income	15	8	8	8	880,000
Interest and Dividend Income, Operating, Total	545	523	472	378	346
Interest Expense, NOW Accounts, Money Market Accounts, and Savings Deposits	76	83	72	18	2
Interest Expense, Time Deposits	23	30	13	3	5
Interest Expense, Short-term Borrowings	1	3	5	1	767,000
Interest Expense, Long-term Debt	6	9	9	9	—
Total interest expense	107	125	99	31	—
Net interest income	437	398	373	347	330
Financing Receivable, Credit Loss, Expense (Reversal)	11	15	3	5	—
Interest Income (Expense), after Provision for Loan Loss, Total	426	383	370	343	342
Debit card fee income	26	26	27	26	26
Bank Owned Life Insurance Income	7	8	5	6	5
ATM Fees	1	2	2	2	2
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement	0	6	0	0	—
Gain (Loss) on Sale of Investments	−2	−526,000	−8	0	0
Gain on equity securities, net	5	3	971,000	3	5
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component	9	9	8	12	8
Noninterest Income, Other	4	6	4	9	11
Total other income	120	123	93	136	130
Salaries	153	147	139	133	126
Employee benefits	40	42	42	40	42
Occupancy expense	13	13	13	14	13
Furniture and equipment expense	9	10	12	12	11
Data processing fees	45	41	38	33	31
Professional fees and services	31	31	29	31	27
Marketing	6	6	5	5	6
Insurance	6	7	8	5	6
Communication	5	4	4	4	4
State tax expense	5	5	5	5	4
Amortization of Intangible Assets	1	1	1	1	2
Foundation contribution expense	1	2	1	4	4
Miscellaneous	9	13	11	10	9
Total other expense	324	321	309	298	284
Income before income taxes	221	185	154	180	188
Income taxes	41	33	27	32	34
Net Income (Loss) Attributable to Parent	180	151	127	148	154
Basic (in dollars per share)	11.18	9.38	7.84	9.13	9.45
Diluted (in dollars per share)	11.11	9.32	7.8	9.06	9.37

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and Due from Banks	137	122	160	157	145
Money market instruments	96	38	58	33	75
Cash and cash equivalents	234	161	218	190	219
Debt Securities, Available-for-sale, Current	689	997	1,333	1,734	1,754
Other Investments and Securities, at Cost	113	104	96	87	61
Total investment securities	802	1,101	1,429	1,821	1,815
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss	8,051	7,817	7,476	—	—
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest	93	88	84	85	83
Net loans	7,958	7,729	7,392	—	—
Bank Owned Life Insurance	242	237	232	220	216
Prepaid Expense, Current	198	190	166	154	144
Goodwill	160	160	160	160	160
Intangible Assets, Net (Excluding Goodwill)	2	3	5	6	7
Property, Plant and Equipment, Net	62	70	74	82	89
Investment, Proportional Amortization Method, Elected, Amount	70	66	63	61	59
Accrued Investment Income Receivable	35	36	39	35	23
Other real estate owned	700,000	900,000	1	1	800,000
Mortgage loan servicing rights	14	14	15	16	15
Operating Lease, Right-of-Use Asset	16	16	16	18	13
Other Assets, Miscellaneous	13	22	27	36	10
Other Assets	811	815	797	788	738
Assets, Total	9,805	9,805	9,836	9,855	9,560
Non-interest bearing	2,656	2,613	2,628	3,074	3,066
Interest-bearing Deposit Liabilities	5,588	5,531	5,414	5,160	4,838
Total deposits	8,244	8,144	8,043	8,235	7,905
Short-term Debt	82	90	328	227	239
Subordinated Debt	0	190	189	189	188
Debt, Current, Total	82	280	517	416	—
Operating Lease, Liability	17	17	17	19	14
Interest Payable	4	8	7	3	3
Investment Program, Proportional Amortization Method, Elected, Commitment	26	30	29	28	28
Off-Balance Sheet, Credit Loss, Liability	5	6	5	5	4
Other Liabilities Unclassified	75	78	74	79	68
Other Liabilities, Total	127	138	131	135	118
Total liabilities	8,452	8,562	8,691	8,786	8,449
Commitments and Contingencies	—	—	—	—	—
Preferred Stock, Value, Issued	0	0	0	0	0
Common Stock, Value, Issued	465	464	463	462	462
Accumulated Other Comprehensive Income (Loss), Net of Tax	−13	−46	−66	−102	15
Retained Earnings (Accumulated Deficit)	1,068	978	904	847	776
Treasury Stock, Value	167	151	156	138	142
Total shareholders equity	1,353	1,244	1,145	1,069	1,111
Liabilities and Equity, Total	9,805	9,805	9,836	9,855	9,560

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization of Deferred Loan Origination Fees, Net	−10	−9	−9	−12	−25
Depreciation	11	12	14	14	13
Accretion (Amortization) of Discounts and Premiums, Investments	883,000	2	4	4	2
Deferred Income Tax Expense (Benefit)	−2	−409,000	−703,000	611,000	−3
Share-based Payment Arrangement, Noncash Expense	9	8	8	7	8
Payments for Loan Originations, Loans to be Sold in Secondary Market	186	116	65	174	569
Proceeds From Loan Sales	191	116	65	185	609
Investment Program, Proportional Amortization Method, Applied, Amortization Expense	8	8	8	8	7
Increase (Decrease) in Other Operating Assets	−3	−9	−3	3	−12
Increase (Decrease) in Other Operating Liabilities	−9	1	−7	−5	−8
Net cash provided by operating activities	198	179	151	137	157
Proceeds from Sale of Federal Home Loan Bank Stock	1	18	12	2	9
Payments to Acquire Federal Home Loan Bank Stock	−494,000	−9	−18	0	0
Proceeds from Sale of Debt Securities	77	44	283	0	934,000
Proceeds from Sale and Maturity of Marketable Securities	1	0	1	—	—
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale	355	300	145	186	232
Proceeds from Sale of Other Real Estate	768,000	1	965,000	18	758,000
Payments to Acquire Debt Securities, Available-for-sale	88	3	4	317	954
Payments to Acquire Available-for-sale Securities, Equity	6	10	2	9	0
Payments for (Proceeds from) Investments	−384,000	−1	2	331,000	—
Payments for (Proceeds from) Loans and Leases	233	342	330	274	−312
Proceeds from Life Insurance Policy	5	12	2	10	6
Payment to Acquire Life Insurance Policy, Investing Activities	−3	−10	−11	−8	0
Payments for Affordable Housing Programs	16	11	9	10	11
Payments to Acquire Property, Plant, and Equipment	6	9	8	8	14
Net cash used in investing activities	86	−19	64	−405	−412
Increase (Decrease) in Deposits	90	215	−387	−457	605
(Increase) decrease in one way sell deposits	10	−114	195	787	−273
Proceeds from (Repayments of) Short-term Debt	−9	−238	101	−11	−103
Repayments of Subordinated Debt	−190	0	0	—	—
Payments Related to Tax Withholding for Share-based Compensation	3	3	3	3	2
Payments for Repurchase of Common Stock	20	0	23	0	16
Payments of Ordinary Dividends	90	77	69	77	74
Net cash used in financing activities	−212	−217	−186	239	104
Cash and Cash Equivalents, Period Increase (Decrease), Total	73	−58	29	−29	−151
Interest Paid, Excluding Capitalized Interest, Operating Activity	111	124	95	31	17
Income Tax Paid, Federal, before Refund Received	34	23	17	—	—
Real Estate Owned, Transfer to Real Estate Owned	848,000	1	1	13	150,000
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	2	3	545,000	8	—
Affordable Housing Program Obligation, Period Increase (Decrease)	12	12	10	10	10
Transfer to Investments	157,000	3	3	16	3

Filings

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Holdings (13F)

Portfolio as of 2026-01-14 · 445 positions

Reported AUM

$2.41B

Holdings

445

Top sector

$2.41B

Top sectors

Sector	Value	% of portfolio
Uncategorized	$2.41B	100.0%

Top holdings

Issuer	Ticker	Shares	Value	%
Park National Corporation	—	1.24M	$162.65M	6.8%
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JPMorgan Chase & Co	—	430.9K	$58.74M	2.4%
Alphabet Inc Class A	—	19.7K	$54.71M	2.3%
Target Corporation	—	241.4K	$51.23M	2.1%
Johnson & Johnson	—	276.1K	$48.94M	2.0%
Disney (Walt) Company	—	338.2K	$46.39M	1.9%
Abbott Laboratories	—	376.1K	$44.52M	1.9%