PARK NATIONAL CORP /OH/PRK

PARK NATIONAL CORP /OH/ Segments Disclosure

10-KFiled Feb 23, 20262 min read
Segment Information
Park's chief operating decision maker is Park's Chief Executive Officer and President. While the chief decision maker monitors the operating results of its lines of business, operations are managed and financial performance is evaluated on a consolidated basis. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment.

The segment is determined by the level of information provided to the chief operating decision maker, who uses such information to review performance of various components of the business, which are then aggregated if operating performance, products, and services are similar. The chief operating decision maker will evaluate the financial performance of Park's business components such as by evaluating interest income, interest expense, other revenue streams, significant expenses, and budget to actual results in assessing Park's segment and in the determination of allocation resources. The chief operating
decision maker uses consolidated net income to benchmark Park against its peers. The benchmarking analysis coupled with monitoring of budget to actual results are used in assessment of performance and in establishing compensation. Loans, investments, deposits, and fiduciary income provide the revenues in the banking operation. Interest expense, provisions for credit losses, and payroll/benefits provide the significant expenses in the banking operation. All operations are domestic.

Accounting policies for Park's reportable segment are the same as described in Note 1 - Summary of Significant Accounting Policies. Segment performance is evaluated using consolidated net income. Information reported internally for performance assessment by the chief operating decision maker follows, inclusive of reconciliations of significant segment totals to the financial statements.

Banking Segment
(in thousands)202520242023
Interest Income$544,540 $522,965 $471,670 
Reconciliation of Revenue
Other revenues$119,881 $122,588 $92,634 
Total consolidated revenues$664,421 $645,553 $564,304 
Less:
Interest expense$107,229 $124,946 $98,557 
Segment net interest income and noninterest income$557,192 $520,607 $465,747 
Less:
Provision for credit losses11,48814,5432,904
Salaries152,735147,311139,237
Employee benefits40,36241,72442,264
Occupancy expense13,37912,81613,114
Furniture and equipment expense8,7619,98312,233
Data processing fees45,26940,56437,637
Professional fees and services31,45231,14629,173
Marketing6,0746,3185,471
Insurance6,3556,7357,640
Communication4,5194,0974,210
State tax expense4,8994,5004,657
Amortization of intangible assets1,0421,2151,323
Foundation contributions1,0002,0001,000
Miscellaneous8,53412,93011,280
Income taxes41,25033,30526,870
Segment net income/consolidated net income$180,073 $151,420 $126,734 
(in thousands)202520242023
Other segment disclosures
Interest income544,540522,965471,670
Interest expense107,229124,94698,557
Depreciation11,19112,19214,015
Amortization1,0421,2151,323
Other significant noncash items:
Provision for credit losses11,48814,5432,904
Segment assets9,805,0139,805,3509,836,453
Reconciliation of assets
Total assets for reportable segments$9,805,013 9,805,3509,836,453
Other assets———
Total consolidated assets$9,805,013 9,805,3509,836,453
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Historical Timeline

Fiscal YearFiled
2025Feb 23, 2026Showing above
2024Feb 24, 2025
2022Mar 1, 2023
2021Feb 24, 2022
2020Feb 26, 2021
2019Feb 28, 2020
2018Feb 26, 2019
2017Feb 27, 2018
2016Feb 21, 2017
2015Feb 18, 2016

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

Income TaxesRevenueEarnings Per ShareFair ValuePP&EGoodwill & IntangiblesLeasesDebtStock CompensationNew Standards