PARK NATIONAL CORP /OH/PRK
PARK NATIONAL CORP /OH/ Revenue Disclosure
Revenue from Contracts with Customers
All of Park's revenue from contracts with customers within the scope of ASC 606 is recognized within "Other income" in the Consolidated Statements of Income. All of Park's operations are considered by management to be aggregated in one reportable segment.
The following table presents the Corporation's sources of other income by revenue stream for the years ended December 31, 2025, 2024, and 2023:
| Year ended December 31, 2025 | Year ended December 31, 2024 | Year ended December 31, 2023 | ||||||||||||||||||
| Revenue by Operating Segment (in thousands) | PRK | PRK | PRK | |||||||||||||||||
| Income from fiduciary activities | ||||||||||||||||||||
| Personal trust and agency accounts | $ | 13,865 | 12,825 | 10,297 | ||||||||||||||||
| Employee benefit and retirement-related accounts | 11,971 | 11,093 | 9,894 | |||||||||||||||||
| Investment management and investment advisory agency accounts | 17,429 | 16,184 | 13,242 | |||||||||||||||||
| Other | 2,505 | 2,387 | 2,041 | |||||||||||||||||
| Service charges on deposit accounts | ||||||||||||||||||||
| Non-sufficient funds (NSF) fees | 2,957 | 3,236 | 3,744 | |||||||||||||||||
| Demand deposit account (DDA) charges | 6,447 | 5,286 | 4,229 | |||||||||||||||||
| Other | 647 | 479 | 472 | |||||||||||||||||
Other service income (1) | ||||||||||||||||||||
| Credit card | 2,776 | 2,652 | 2,799 | |||||||||||||||||
| HELOC | 443 | 389 | 369 | |||||||||||||||||
| Installment | 260 | 161 | 177 | |||||||||||||||||
| Real estate | 9,095 | 7,091 | 5,795 | |||||||||||||||||
| Commercial | 1,908 | 1,450 | 1,160 | |||||||||||||||||
| Debit card fee income | 25,793 | 25,873 | 26,522 | |||||||||||||||||
Bank owned life insurance income (2) | 6,610 | 7,770 | 5,338 | |||||||||||||||||
| ATM fees | 1,406 | 1,840 | 2,178 | |||||||||||||||||
Pension settlement gain (2) | — | 6,148 | — | |||||||||||||||||
Loss on the sale of debt securities, net (2) | (2,250) | (526) | (7,875) | |||||||||||||||||
Gain on equity securities, net (2) | 4,664 | 3,080 | 971 | |||||||||||||||||
Other components of net periodic pension benefit income (2) | 9,376 | 9,263 | 7,572 | |||||||||||||||||
Miscellaneous (3) | 3,979 | 5,907 | 3,709 | |||||||||||||||||
| Total other income | $ | 119,881 | $ | 122,588 | $ | 92,634 | ||||||||||||||
(1) "Other Service Income" totaled $14.5 million, $11.7 million, and $10.3 million for the years ended December 31, 2025, 2024, and 2023, respectively. Of this aggregate service revenue, approximately, $7.1 million, $5.7 million, and $5.2 million is within the scope of ASC 606, with the remaining $7.4 million, $6.0 million, and $5.1 million consisting primarily of residential real estate loan fees which are out of scope for each respective year.
(2) Not within the scope of ASC 606.
(3) "Miscellaneous" income includes brokerage income, safe deposit box rentals, gains/losses on asset sales, and miscellaneous bank fees totaling $4.0 million, $5.9 million, and $3.7 million for the years ended December 31, 2025, 2024, and 2023, respectively, all of which are within the scope of ASC 606.
A description of Park's material revenue streams accounted for under ASC 606 follows:
Income from fiduciary activities (gross): Park earns fiduciary fee income and investment brokerage fees from its contracts with wealth management customers for various fiduciary and investment-related services. These fees are earned over time as the Company provides the contracted monthly and quarterly services and are generally assessed based on the market value of the trust assets.
Service charges on deposit accounts and ATM fees: The Corporation earns fees from the Corporation's deposit customers for transaction-based, account maintenance, and overdraft services. Fees for transaction-based services, which include services such as ATM use fees, stop payment charges, statement rendering fees, and ACH fees, are recognized at the time the transaction is executed as that is the point in time the Corporation fulfills the customer's request. Account maintenance fees, which relate primarily to monthly maintenance, are generally recognized at the end of the month, representing the period over which the Corporation satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer's account balance.
Other service income: Other service income includes income from (1) the sale and servicing of loans sold to the secondary market, (2) incentive income from third-party credit card issuers, and (3) loan customers for various loan-related activities and
services. Income related to the sale and servicing of loans sold to the secondary market is included within "Other service income", but is not within the scope of ASC 606. Services that fall within the scope of ASC 606 are recognized as revenue when the Company satisfies the Company's performance obligation to the customer.
Debit card fee income: Park earns interchange fees from debit cardholder transactions conducted primarily through the Visa payment network. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, net of card network fees, concurrently with the transaction processing services provided to the cardholder.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 23, 2026 | Showing above |
| 2024 | Feb 24, 2025 | |
| 2023 | Feb 23, 2024 | |
| 2022 | Mar 1, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 28, 2020 | |
| 2018 | Feb 26, 2019 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.