10-Q 1 prk-20240331.htm 10-Q prk-20240331
FALSE2024Q10000805676--12-3100008056762024-01-012024-03-3100008056762024-05-01xbrli:shares00008056762024-03-31iso4217:USD00008056762023-12-3100008056762023-01-012023-03-310000805676us-gaap:FiduciaryAndTrustMember2024-01-012024-03-310000805676us-gaap:FiduciaryAndTrustMember2023-01-012023-03-310000805676us-gaap:DepositAccountMember2024-01-012024-03-310000805676us-gaap:DepositAccountMember2023-01-012023-03-310000805676us-gaap:BankServicingMember2024-01-012024-03-310000805676us-gaap:BankServicingMember2023-01-012023-03-31iso4217:USDxbrli:shares0000805676prk:QuarterlyDividendMember2024-01-012024-03-310000805676prk:QuarterlyDividendMember2023-01-012023-03-310000805676us-gaap:PreferredStockMember2023-12-310000805676us-gaap:CommonStockMember2023-12-310000805676us-gaap:RetainedEarningsMember2023-12-310000805676us-gaap:TreasuryStockCommonMember2023-12-310000805676us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310000805676us-gaap:RetainedEarningsMember2024-01-012024-03-310000805676us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-03-310000805676us-gaap:CommonStockMember2024-01-012024-03-310000805676us-gaap:TreasuryStockCommonMember2024-01-012024-03-310000805676us-gaap:PreferredStockMember2024-03-310000805676us-gaap:CommonStockMember2024-03-310000805676us-gaap:RetainedEarningsMember2024-03-310000805676us-gaap:TreasuryStockCommonMember2024-03-310000805676us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-03-310000805676us-gaap:PreferredStockMember2022-12-310000805676us-gaap:CommonStockMember2022-12-310000805676us-gaap:RetainedEarningsMember2022-12-310000805676us-gaap:TreasuryStockCommonMember2022-12-310000805676us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310000805676srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMember2022-12-310000805676srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:PreferredStockMember2022-12-310000805676srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:CommonStockMember2022-12-310000805676srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:RetainedEarningsMember2022-12-310000805676srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:TreasuryStockCommonMember2022-12-310000805676srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310000805676us-gaap:RetainedEarningsMember2023-01-012023-03-310000805676us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310000805676us-gaap:CommonStockMember2023-01-012023-03-310000805676us-gaap:TreasuryStockCommonMember2023-01-012023-03-310000805676us-gaap:PreferredStockMember2023-03-310000805676us-gaap:CommonStockMember2023-03-310000805676us-gaap:RetainedEarningsMember2023-03-310000805676us-gaap:TreasuryStockCommonMember2023-03-310000805676us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-310000805676us-gaap:MortgagesMember2024-01-012024-03-310000805676us-gaap:MortgagesMember2023-01-012023-03-310000805676us-gaap:ConsumerPortfolioSegmentMember2024-01-012024-03-310000805676us-gaap:ConsumerPortfolioSegmentMember2023-01-012023-03-3100008056762022-12-3100008056762023-03-310000805676us-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000805676us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2024-03-310000805676us-gaap:CollateralizedLoanObligationsMember2024-03-310000805676us-gaap:CorporateDebtSecuritiesMember2024-03-310000805676us-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000805676us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2023-12-310000805676us-gaap:CollateralizedLoanObligationsMember2023-12-310000805676us-gaap:CorporateDebtSecuritiesMember2023-12-310000805676prk:USGovernmentSponsoredAssetBackedSecuritiesAndUSTreasuryObligationsMember2024-03-31xbrli:pure0000805676us-gaap:CollateralPledgedMember2024-03-310000805676us-gaap:CollateralPledgedMember2023-12-310000805676us-gaap:EquitySecuritiesMember2024-01-012024-03-310000805676us-gaap:EquitySecuritiesMember2023-01-012023-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2024-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2023-12-310000805676prk:PPPLoansReceivableMember2024-03-310000805676prk:PPPLoansReceivableMember2023-12-310000805676us-gaap:BankOverdraftsMember2024-03-310000805676us-gaap:BankOverdraftsMember2023-12-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676prk:ConstructionRealEstateCommercialDomain2024-03-310000805676prk:ConstructionRealEstateCommercialDomain2023-12-310000805676prk:ConstructionRealEstateRetailMember2024-03-310000805676prk:ConstructionRealEstateRetailMember2023-12-310000805676prk:ResidentialRealEstateCommercialMember2024-03-310000805676prk:ResidentialRealEstateCommercialMember2023-12-310000805676prk:ResidentialRealEstateMortgageMember2024-03-310000805676prk:ResidentialRealEstateMortgageMember2023-12-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMember2024-03-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMember2023-12-310000805676prk:ResidentialRealEstateInstallmentMember2024-03-310000805676prk:ResidentialRealEstateInstallmentMember2023-12-310000805676prk:ConsumerLessGFSCAndCheckLoansMember2024-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMember2023-12-310000805676prk:CheckLoansMember2024-03-310000805676prk:CheckLoansMember2023-12-310000805676us-gaap:FinanceLeasesPortfolioSegmentMember2024-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMember2023-12-3100008056762023-01-012023-12-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2024-03-310000805676prk:PPPLoansReceivableMember2024-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2023-12-310000805676prk:PPPLoansReceivableMember2023-12-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310000805676us-gaap:NonperformingFinancingReceivableMemberprk:PPPLoansReceivableMember2024-03-310000805676us-gaap:NonperformingFinancingReceivableMemberus-gaap:BankOverdraftsMember2024-03-310000805676us-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676prk:ConstructionRealEstateCommercialDomainus-gaap:NonperformingFinancingReceivableMember2024-03-310000805676prk:ConstructionRealEstateRetailMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310000805676prk:ResidentialRealEstateInstallmentMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310000805676prk:CheckLoansMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310000805676us-gaap:NonperformingFinancingReceivableMember2024-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310000805676us-gaap:NonperformingFinancingReceivableMemberprk:PPPLoansReceivableMember2023-12-310000805676us-gaap:NonperformingFinancingReceivableMemberus-gaap:BankOverdraftsMember2023-12-310000805676us-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676prk:ConstructionRealEstateCommercialDomainus-gaap:NonperformingFinancingReceivableMember2023-12-310000805676prk:ConstructionRealEstateRetailMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310000805676prk:ResidentialRealEstateInstallmentMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310000805676prk:CheckLoansMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310000805676us-gaap:FinanceLeasesPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310000805676us-gaap:NonperformingFinancingReceivableMember2023-12-310000805676prk:CommercialFinancialAndAgriculturalMemberus-gaap:RealEstateMember2024-03-310000805676prk:BusinessAssetsMemberprk:CommercialFinancialAndAgriculturalMember2024-03-310000805676prk:OtherCollateralMemberprk:CommercialFinancialAndAgriculturalMember2024-03-310000805676prk:CommercialFinancialAndAgriculturalMemberus-gaap:CollateralPledgedMember2024-03-310000805676us-gaap:RealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676prk:BusinessAssetsMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676prk:OtherCollateralMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676us-gaap:CollateralPledgedMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676us-gaap:RealEstateMemberprk:ConstructionRealEstateCommercialDomain2024-03-310000805676prk:BusinessAssetsMemberprk:ConstructionRealEstateCommercialDomain2024-03-310000805676prk:OtherCollateralMemberprk:ConstructionRealEstateCommercialDomain2024-03-310000805676prk:ConstructionRealEstateCommercialDomainus-gaap:CollateralPledgedMember2024-03-310000805676us-gaap:RealEstateMemberprk:ResidentialRealEstateCommercialMember2024-03-310000805676prk:BusinessAssetsMemberprk:ResidentialRealEstateCommercialMember2024-03-310000805676prk:OtherCollateralMemberprk:ResidentialRealEstateCommercialMember2024-03-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:CollateralPledgedMember2024-03-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:RealEstateMember2024-03-310000805676prk:ResidentialRealEstateMortgageMemberprk:BusinessAssetsMember2024-03-310000805676prk:ResidentialRealEstateMortgageMemberprk:OtherCollateralMember2024-03-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:CollateralPledgedMember2024-03-310000805676us-gaap:RealEstateMemberus-gaap:FinanceLeasesPortfolioSegmentMember2024-03-310000805676prk:BusinessAssetsMemberus-gaap:FinanceLeasesPortfolioSegmentMember2024-03-310000805676prk:OtherCollateralMemberus-gaap:FinanceLeasesPortfolioSegmentMember2024-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMemberus-gaap:CollateralPledgedMember2024-03-310000805676us-gaap:RealEstateMember2024-03-310000805676prk:BusinessAssetsMember2024-03-310000805676prk:OtherCollateralMember2024-03-310000805676prk:CommercialFinancialAndAgriculturalMemberus-gaap:RealEstateMember2023-12-310000805676prk:BusinessAssetsMemberprk:CommercialFinancialAndAgriculturalMember2023-12-310000805676prk:OtherCollateralMemberprk:CommercialFinancialAndAgriculturalMember2023-12-310000805676prk:CommercialFinancialAndAgriculturalMemberus-gaap:CollateralPledgedMember2023-12-310000805676us-gaap:RealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676prk:BusinessAssetsMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676prk:OtherCollateralMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676us-gaap:CollateralPledgedMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676us-gaap:RealEstateMemberprk:ConstructionRealEstateCommercialDomain2023-12-310000805676prk:BusinessAssetsMemberprk:ConstructionRealEstateCommercialDomain2023-12-310000805676prk:OtherCollateralMemberprk:ConstructionRealEstateCommercialDomain2023-12-310000805676prk:ConstructionRealEstateCommercialDomainus-gaap:CollateralPledgedMember2023-12-310000805676us-gaap:RealEstateMemberprk:ResidentialRealEstateCommercialMember2023-12-310000805676prk:BusinessAssetsMemberprk:ResidentialRealEstateCommercialMember2023-12-310000805676prk:OtherCollateralMemberprk:ResidentialRealEstateCommercialMember2023-12-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:CollateralPledgedMember2023-12-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:RealEstateMember2023-12-310000805676prk:ResidentialRealEstateMortgageMemberprk:BusinessAssetsMember2023-12-310000805676prk:ResidentialRealEstateMortgageMemberprk:OtherCollateralMember2023-12-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:CollateralPledgedMember2023-12-310000805676us-gaap:RealEstateMemberus-gaap:FinanceLeasesPortfolioSegmentMember2023-12-310000805676prk:BusinessAssetsMemberus-gaap:FinanceLeasesPortfolioSegmentMember2023-12-310000805676prk:OtherCollateralMemberus-gaap:FinanceLeasesPortfolioSegmentMember2023-12-310000805676us-gaap:FinanceLeasesPortfolioSegmentMemberus-gaap:CollateralPledgedMember2023-12-310000805676us-gaap:RealEstateMember2023-12-310000805676prk:BusinessAssetsMember2023-12-310000805676prk:OtherCollateralMember2023-12-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2024-01-012024-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2023-01-012023-03-310000805676prk:PPPLoansReceivableMember2024-01-012024-03-310000805676prk:PPPLoansReceivableMember2023-01-012023-03-310000805676us-gaap:BankOverdraftsMember2024-01-012024-03-310000805676us-gaap:BankOverdraftsMember2023-01-012023-03-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMember2024-01-012024-03-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMember2023-01-012023-03-310000805676prk:ConstructionRealEstateCommercialDomain2024-01-012024-03-310000805676prk:ConstructionRealEstateCommercialDomain2023-01-012023-03-310000805676prk:ConstructionRealEstateRetailMember2024-01-012024-03-310000805676prk:ConstructionRealEstateRetailMember2023-01-012023-03-310000805676prk:ResidentialRealEstateCommercialMember2024-01-012024-03-310000805676prk:ResidentialRealEstateCommercialMember2023-01-012023-03-310000805676prk:ResidentialRealEstateMortgageMember2024-01-012024-03-310000805676prk:ResidentialRealEstateMortgageMember2023-01-012023-03-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMember2024-01-012024-03-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMember2023-01-012023-03-310000805676prk:ResidentialRealEstateInstallmentMember2024-01-012024-03-310000805676prk:ResidentialRealEstateInstallmentMember2023-01-012023-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMember2024-01-012024-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMember2023-01-012023-03-310000805676prk:CheckLoansMember2024-01-012024-03-310000805676prk:CheckLoansMember2023-01-012023-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMember2024-01-012024-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMember2023-01-012023-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberus-gaap:FinancialAssetPastDueMember2024-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000805676us-gaap:FinancialAssetPastDueMemberprk:PPPLoansReceivableMember2024-03-310000805676us-gaap:FinancialAssetNotPastDueMemberprk:PPPLoansReceivableMember2024-03-310000805676us-gaap:FinancialAssetNotPastDueMemberus-gaap:BankOverdraftsMember2024-03-310000805676us-gaap:BankOverdraftsMember2024-03-310000805676us-gaap:FinancialAssetPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676prk:ConstructionRealEstateCommercialDomainus-gaap:FinancialAssetNotPastDueMember2024-03-310000805676prk:ConstructionRealEstateRetailMemberus-gaap:FinancialAssetPastDueMember2024-03-310000805676prk:ConstructionRealEstateRetailMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:FinancialAssetPastDueMember2024-03-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:FinancialAssetPastDueMember2024-03-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMemberus-gaap:FinancialAssetPastDueMember2024-03-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000805676prk:ResidentialRealEstateInstallmentMemberus-gaap:FinancialAssetPastDueMember2024-03-310000805676prk:ResidentialRealEstateInstallmentMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberus-gaap:FinancialAssetPastDueMember2024-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000805676prk:CheckLoansMemberus-gaap:FinancialAssetPastDueMember2024-03-310000805676prk:CheckLoansMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000805676us-gaap:FinancialAssetPastDueMember2024-03-310000805676us-gaap:FinancialAssetNotPastDueMember2024-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberus-gaap:FinancialAssetPastDueMember2023-12-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000805676us-gaap:FinancialAssetPastDueMemberprk:PPPLoansReceivableMember2023-12-310000805676us-gaap:FinancialAssetNotPastDueMemberprk:PPPLoansReceivableMember2023-12-310000805676us-gaap:FinancialAssetNotPastDueMemberus-gaap:BankOverdraftsMember2023-12-310000805676us-gaap:BankOverdraftsMember2023-12-310000805676us-gaap:FinancialAssetPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676us-gaap:FinancialAssetPastDueMemberprk:ConstructionRealEstateCommercialDomain2023-12-310000805676prk:ConstructionRealEstateCommercialDomainus-gaap:FinancialAssetNotPastDueMember2023-12-310000805676prk:ConstructionRealEstateRetailMemberus-gaap:FinancialAssetPastDueMember2023-12-310000805676prk:ConstructionRealEstateRetailMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:FinancialAssetPastDueMember2023-12-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:FinancialAssetPastDueMember2023-12-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMemberus-gaap:FinancialAssetPastDueMember2023-12-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000805676prk:ResidentialRealEstateInstallmentMemberus-gaap:FinancialAssetPastDueMember2023-12-310000805676prk:ResidentialRealEstateInstallmentMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberus-gaap:FinancialAssetPastDueMember2023-12-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000805676prk:CheckLoansMemberus-gaap:FinancialAssetPastDueMember2023-12-310000805676prk:CheckLoansMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000805676us-gaap:FinanceLeasesPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000805676us-gaap:FinancialAssetPastDueMember2023-12-310000805676us-gaap:FinancialAssetNotPastDueMember2023-12-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberus-gaap:PassMember2024-03-310000805676prk:FiveRatedMemberprk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2024-03-310000805676prk:SixRatedMemberprk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2024-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberprk:ImpairedMember2024-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2024-01-012024-03-310000805676us-gaap:PassMemberprk:PPPLoansReceivableMember2024-03-310000805676prk:FiveRatedMemberprk:PPPLoansReceivableMember2024-03-310000805676prk:SixRatedMemberprk:PPPLoansReceivableMember2024-03-310000805676prk:ImpairedMemberprk:PPPLoansReceivableMember2024-03-310000805676prk:PPPLoansReceivableMember2024-01-012024-03-310000805676us-gaap:PassMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676prk:FiveRatedMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676prk:SixRatedMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676prk:ImpairedMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676prk:ConstructionRealEstateCommercialDomainus-gaap:PassMember2024-03-310000805676prk:FiveRatedMemberprk:ConstructionRealEstateCommercialDomain2024-03-310000805676prk:SixRatedMemberprk:ConstructionRealEstateCommercialDomain2024-03-310000805676prk:ImpairedMemberprk:ConstructionRealEstateCommercialDomain2024-03-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:PassMember2024-03-310000805676prk:FiveRatedMemberprk:ResidentialRealEstateCommercialMember2024-03-310000805676prk:SixRatedMemberprk:ResidentialRealEstateCommercialMember2024-03-310000805676prk:ResidentialRealEstateCommercialMemberprk:ImpairedMember2024-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMemberus-gaap:PassMember2024-03-310000805676prk:FiveRatedMemberus-gaap:FinanceLeasesPortfolioSegmentMember2024-03-310000805676prk:SixRatedMemberus-gaap:FinanceLeasesPortfolioSegmentMember2024-03-310000805676prk:ImpairedMemberus-gaap:FinanceLeasesPortfolioSegmentMember2024-03-310000805676us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMember2024-03-310000805676prk:FiveRatedMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000805676prk:SixRatedMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000805676us-gaap:CommercialPortfolioSegmentMemberprk:ImpairedMember2024-03-310000805676us-gaap:CommercialPortfolioSegmentMember2024-03-310000805676us-gaap:CommercialPortfolioSegmentMember2024-01-012024-03-310000805676us-gaap:PassMemberprk:CommercialFinancialAndAgriculturalMember2023-12-310000805676prk:FiveRatedMemberprk:CommercialFinancialAndAgriculturalMember2023-12-310000805676prk:SixRatedMemberprk:CommercialFinancialAndAgriculturalMember2023-12-310000805676prk:ImpairedMemberprk:CommercialFinancialAndAgriculturalMember2023-12-310000805676prk:CommercialFinancialAndAgriculturalMember2023-12-310000805676prk:CommercialFinancialAndAgriculturalMember2023-01-012023-12-310000805676us-gaap:PassMemberprk:PPPLoansReceivableMember2023-12-310000805676prk:FiveRatedMemberprk:PPPLoansReceivableMember2023-12-310000805676prk:SixRatedMemberprk:PPPLoansReceivableMember2023-12-310000805676prk:ImpairedMemberprk:PPPLoansReceivableMember2023-12-310000805676prk:PPPLoansReceivableMember2023-01-012023-12-310000805676us-gaap:PassMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676prk:FiveRatedMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676prk:SixRatedMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676prk:ImpairedMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMember2023-01-012023-12-310000805676prk:ConstructionRealEstateCommercialDomainus-gaap:PassMember2023-12-310000805676prk:FiveRatedMemberprk:ConstructionRealEstateCommercialDomain2023-12-310000805676prk:SixRatedMemberprk:ConstructionRealEstateCommercialDomain2023-12-310000805676prk:ImpairedMemberprk:ConstructionRealEstateCommercialDomain2023-12-310000805676prk:ConstructionRealEstateCommercialDomain2023-01-012023-12-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:PassMember2023-12-310000805676prk:FiveRatedMemberprk:ResidentialRealEstateCommercialMember2023-12-310000805676prk:SixRatedMemberprk:ResidentialRealEstateCommercialMember2023-12-310000805676prk:ResidentialRealEstateCommercialMemberprk:ImpairedMember2023-12-310000805676prk:ResidentialRealEstateCommercialMember2023-01-012023-12-310000805676us-gaap:FinanceLeasesPortfolioSegmentMemberus-gaap:PassMember2023-12-310000805676prk:FiveRatedMemberus-gaap:FinanceLeasesPortfolioSegmentMember2023-12-310000805676prk:SixRatedMemberus-gaap:FinanceLeasesPortfolioSegmentMember2023-12-310000805676prk:ImpairedMemberus-gaap:FinanceLeasesPortfolioSegmentMember2023-12-310000805676us-gaap:FinanceLeasesPortfolioSegmentMember2023-01-012023-12-310000805676us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMember2023-12-310000805676prk:FiveRatedMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000805676prk:SixRatedMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000805676us-gaap:CommercialPortfolioSegmentMemberprk:ImpairedMember2023-12-310000805676us-gaap:CommercialPortfolioSegmentMember2023-12-310000805676us-gaap:CommercialPortfolioSegmentMember2023-01-012023-12-310000805676us-gaap:PerformingFinancingReceivableMemberus-gaap:BankOverdraftsMember2024-03-310000805676us-gaap:BankOverdraftsMember2024-01-012024-03-310000805676us-gaap:PerformingFinancingReceivableMemberprk:ConstructionRealEstateRetailMember2024-03-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:PerformingFinancingReceivableMember2024-03-310000805676us-gaap:PerformingFinancingReceivableMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2024-03-310000805676us-gaap:PerformingFinancingReceivableMemberprk:ResidentialRealEstateInstallmentMember2024-03-310000805676us-gaap:PerformingFinancingReceivableMemberprk:ConsumerLessGFSCAndCheckLoansMember2024-03-310000805676us-gaap:PerformingFinancingReceivableMemberprk:CheckLoansMember2024-03-310000805676us-gaap:PerformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2024-03-310000805676us-gaap:ConsumerPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310000805676us-gaap:ConsumerPortfolioSegmentMember2024-03-310000805676us-gaap:ConsumerPortfolioSegmentMember2024-01-012024-03-310000805676us-gaap:PerformingFinancingReceivableMemberus-gaap:BankOverdraftsMember2023-12-310000805676us-gaap:BankOverdraftsMember2023-01-012023-12-310000805676us-gaap:PerformingFinancingReceivableMemberprk:ConstructionRealEstateRetailMember2023-12-310000805676prk:ConstructionRealEstateRetailMember2023-01-012023-12-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:PerformingFinancingReceivableMember2023-12-310000805676prk:ResidentialRealEstateMortgageMember2023-01-012023-12-310000805676us-gaap:PerformingFinancingReceivableMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2023-12-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMember2023-01-012023-12-310000805676us-gaap:PerformingFinancingReceivableMemberprk:ResidentialRealEstateInstallmentMember2023-12-310000805676prk:ResidentialRealEstateInstallmentMember2023-01-012023-12-310000805676us-gaap:PerformingFinancingReceivableMemberprk:ConsumerLessGFSCAndCheckLoansMember2023-12-310000805676prk:ConsumerLessGFSCAndCheckLoansMember2023-01-012023-12-310000805676us-gaap:PerformingFinancingReceivableMemberprk:CheckLoansMember2023-12-310000805676prk:CheckLoansMember2023-01-012023-12-310000805676us-gaap:PerformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000805676us-gaap:ConsumerPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310000805676us-gaap:ConsumerPortfolioSegmentMember2023-12-310000805676us-gaap:ConsumerPortfolioSegmentMember2023-01-012023-12-310000805676us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2024-03-310000805676us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2023-12-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberus-gaap:PrincipalForgivenessMember2024-01-012024-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberus-gaap:PaymentDeferralMember2024-01-012024-03-310000805676us-gaap:ExtendedMaturityMemberprk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2024-01-012024-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberus-gaap:InterestRateBelowMarketReductionMember2024-01-012024-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2024-01-012024-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberprk:ModificationOtherMember2024-01-012024-03-310000805676us-gaap:PrincipalForgivenessMemberprk:PPPLoansReceivableMember2024-01-012024-03-310000805676prk:PPPLoansReceivableMemberus-gaap:PaymentDeferralMember2024-01-012024-03-310000805676us-gaap:ExtendedMaturityMemberprk:PPPLoansReceivableMember2024-01-012024-03-310000805676us-gaap:InterestRateBelowMarketReductionMemberprk:PPPLoansReceivableMember2024-01-012024-03-310000805676us-gaap:ExtendedMaturityAndInterestRateReductionMemberprk:PPPLoansReceivableMember2024-01-012024-03-310000805676prk:ModificationOtherMemberprk:PPPLoansReceivableMember2024-01-012024-03-310000805676us-gaap:PrincipalForgivenessMemberus-gaap:BankOverdraftsMember2024-01-012024-03-310000805676us-gaap:BankOverdraftsMemberus-gaap:PaymentDeferralMember2024-01-012024-03-310000805676us-gaap:ExtendedMaturityMemberus-gaap:BankOverdraftsMember2024-01-012024-03-310000805676us-gaap:InterestRateBelowMarketReductionMemberus-gaap:BankOverdraftsMember2024-01-012024-03-310000805676us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:BankOverdraftsMember2024-01-012024-03-310000805676prk:ModificationOtherMemberus-gaap:BankOverdraftsMember2024-01-012024-03-310000805676us-gaap:PrincipalForgivenessMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-01-012024-03-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PaymentDeferralMember2024-01-012024-03-310000805676us-gaap:ExtendedMaturityMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-01-012024-03-310000805676us-gaap:InterestRateBelowMarketReductionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-01-012024-03-310000805676us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-01-012024-03-310000805676prk:ModificationOtherMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-01-012024-03-310000805676us-gaap:PrincipalForgivenessMemberprk:ConstructionRealEstateCommercialDomain2024-01-012024-03-310000805676prk:ConstructionRealEstateCommercialDomainus-gaap:PaymentDeferralMember2024-01-012024-03-310000805676us-gaap:ExtendedMaturityMemberprk:ConstructionRealEstateCommercialDomain2024-01-012024-03-310000805676prk:ConstructionRealEstateCommercialDomainus-gaap:InterestRateBelowMarketReductionMember2024-01-012024-03-310000805676us-gaap:ExtendedMaturityAndInterestRateReductionMemberprk:ConstructionRealEstateCommercialDomain2024-01-012024-03-310000805676prk:ModificationOtherMemberprk:ConstructionRealEstateCommercialDomain2024-01-012024-03-310000805676us-gaap:PrincipalForgivenessMemberprk:ConstructionRealEstateRetailMember2024-01-012024-03-310000805676prk:ConstructionRealEstateRetailMemberus-gaap:PaymentDeferralMember2024-01-012024-03-310000805676us-gaap:ExtendedMaturityMemberprk:ConstructionRealEstateRetailMember2024-01-012024-03-310000805676prk:ConstructionRealEstateRetailMemberus-gaap:InterestRateBelowMarketReductionMember2024-01-012024-03-310000805676us-gaap:ExtendedMaturityAndInterestRateReductionMemberprk:ConstructionRealEstateRetailMember2024-01-012024-03-310000805676prk:ModificationOtherMemberprk:ConstructionRealEstateRetailMember2024-01-012024-03-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:PrincipalForgivenessMember2024-01-012024-03-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:PaymentDeferralMember2024-01-012024-03-310000805676us-gaap:ExtendedMaturityMemberprk:ResidentialRealEstateCommercialMember2024-01-012024-03-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:InterestRateBelowMarketReductionMember2024-01-012024-03-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2024-01-012024-03-310000805676prk:ModificationOtherMemberprk:ResidentialRealEstateCommercialMember2024-01-012024-03-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:PrincipalForgivenessMember2024-01-012024-03-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:PaymentDeferralMember2024-01-012024-03-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:ExtendedMaturityMember2024-01-012024-03-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:InterestRateBelowMarketReductionMember2024-01-012024-03-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2024-01-012024-03-310000805676prk:ResidentialRealEstateMortgageMemberprk:ModificationOtherMember2024-01-012024-03-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMemberus-gaap:PrincipalForgivenessMember2024-01-012024-03-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMemberus-gaap:PaymentDeferralMember2024-01-012024-03-310000805676us-gaap:ExtendedMaturityMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2024-01-012024-03-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMemberus-gaap:InterestRateBelowMarketReductionMember2024-01-012024-03-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2024-01-012024-03-310000805676prk:ModificationOtherMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2024-01-012024-03-310000805676prk:ResidentialRealEstateInstallmentMemberus-gaap:PrincipalForgivenessMember2024-01-012024-03-310000805676prk:ResidentialRealEstateInstallmentMemberus-gaap:PaymentDeferralMember2024-01-012024-03-310000805676us-gaap:ExtendedMaturityMemberprk:ResidentialRealEstateInstallmentMember2024-01-012024-03-310000805676prk:ResidentialRealEstateInstallmentMemberus-gaap:InterestRateBelowMarketReductionMember2024-01-012024-03-310000805676prk:ResidentialRealEstateInstallmentMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2024-01-012024-03-310000805676prk:ModificationOtherMemberprk:ResidentialRealEstateInstallmentMember2024-01-012024-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberus-gaap:PrincipalForgivenessMember2024-01-012024-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberus-gaap:PaymentDeferralMember2024-01-012024-03-310000805676us-gaap:ExtendedMaturityMemberprk:ConsumerLessGFSCAndCheckLoansMember2024-01-012024-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberus-gaap:InterestRateBelowMarketReductionMember2024-01-012024-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2024-01-012024-03-310000805676prk:ModificationOtherMemberprk:ConsumerLessGFSCAndCheckLoansMember2024-01-012024-03-310000805676prk:CheckLoansMemberus-gaap:PrincipalForgivenessMember2024-01-012024-03-310000805676prk:CheckLoansMemberus-gaap:PaymentDeferralMember2024-01-012024-03-310000805676us-gaap:ExtendedMaturityMemberprk:CheckLoansMember2024-01-012024-03-310000805676prk:CheckLoansMemberus-gaap:InterestRateBelowMarketReductionMember2024-01-012024-03-310000805676prk:CheckLoansMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2024-01-012024-03-310000805676prk:ModificationOtherMemberprk:CheckLoansMember2024-01-012024-03-310000805676us-gaap:PrincipalForgivenessMemberus-gaap:FinanceLeasesPortfolioSegmentMember2024-01-012024-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMemberus-gaap:PaymentDeferralMember2024-01-012024-03-310000805676us-gaap:ExtendedMaturityMemberus-gaap:FinanceLeasesPortfolioSegmentMember2024-01-012024-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMemberus-gaap:InterestRateBelowMarketReductionMember2024-01-012024-03-310000805676us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:FinanceLeasesPortfolioSegmentMember2024-01-012024-03-310000805676prk:ModificationOtherMemberus-gaap:FinanceLeasesPortfolioSegmentMember2024-01-012024-03-310000805676us-gaap:PrincipalForgivenessMember2024-01-012024-03-310000805676us-gaap:PaymentDeferralMember2024-01-012024-03-310000805676us-gaap:ExtendedMaturityMember2024-01-012024-03-310000805676us-gaap:InterestRateBelowMarketReductionMember2024-01-012024-03-310000805676us-gaap:ExtendedMaturityAndInterestRateReductionMember2024-01-012024-03-310000805676prk:ModificationOtherMember2024-01-012024-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberus-gaap:PrincipalForgivenessMember2023-01-012023-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberus-gaap:PaymentDeferralMember2023-01-012023-03-310000805676us-gaap:ExtendedMaturityMemberprk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2023-01-012023-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberus-gaap:InterestRateBelowMarketReductionMember2023-01-012023-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberprk:ModificationOtherMember2023-01-012023-03-310000805676us-gaap:PrincipalForgivenessMemberprk:PPPLoansReceivableMember2023-01-012023-03-310000805676prk:PPPLoansReceivableMemberus-gaap:PaymentDeferralMember2023-01-012023-03-310000805676us-gaap:ExtendedMaturityMemberprk:PPPLoansReceivableMember2023-01-012023-03-310000805676us-gaap:InterestRateBelowMarketReductionMemberprk:PPPLoansReceivableMember2023-01-012023-03-310000805676us-gaap:ExtendedMaturityAndInterestRateReductionMemberprk:PPPLoansReceivableMember2023-01-012023-03-310000805676prk:ModificationOtherMemberprk:PPPLoansReceivableMember2023-01-012023-03-310000805676us-gaap:PrincipalForgivenessMemberus-gaap:BankOverdraftsMember2023-01-012023-03-310000805676us-gaap:BankOverdraftsMemberus-gaap:PaymentDeferralMember2023-01-012023-03-310000805676us-gaap:ExtendedMaturityMemberus-gaap:BankOverdraftsMember2023-01-012023-03-310000805676us-gaap:InterestRateBelowMarketReductionMemberus-gaap:BankOverdraftsMember2023-01-012023-03-310000805676us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:BankOverdraftsMember2023-01-012023-03-310000805676prk:ModificationOtherMemberus-gaap:BankOverdraftsMember2023-01-012023-03-310000805676us-gaap:PrincipalForgivenessMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-01-012023-03-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PaymentDeferralMember2023-01-012023-03-310000805676us-gaap:ExtendedMaturityMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-01-012023-03-310000805676us-gaap:InterestRateBelowMarketReductionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-01-012023-03-310000805676us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-01-012023-03-310000805676prk:ModificationOtherMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-01-012023-03-310000805676us-gaap:PrincipalForgivenessMemberprk:ConstructionRealEstateCommercialDomain2023-01-012023-03-310000805676prk:ConstructionRealEstateCommercialDomainus-gaap:PaymentDeferralMember2023-01-012023-03-310000805676us-gaap:ExtendedMaturityMemberprk:ConstructionRealEstateCommercialDomain2023-01-012023-03-310000805676prk:ConstructionRealEstateCommercialDomainus-gaap:InterestRateBelowMarketReductionMember2023-01-012023-03-310000805676us-gaap:ExtendedMaturityAndInterestRateReductionMemberprk:ConstructionRealEstateCommercialDomain2023-01-012023-03-310000805676prk:ModificationOtherMemberprk:ConstructionRealEstateCommercialDomain2023-01-012023-03-310000805676us-gaap:PrincipalForgivenessMemberprk:ConstructionRealEstateRetailMember2023-01-012023-03-310000805676prk:ConstructionRealEstateRetailMemberus-gaap:PaymentDeferralMember2023-01-012023-03-310000805676us-gaap:ExtendedMaturityMemberprk:ConstructionRealEstateRetailMember2023-01-012023-03-310000805676prk:ConstructionRealEstateRetailMemberus-gaap:InterestRateBelowMarketReductionMember2023-01-012023-03-310000805676us-gaap:ExtendedMaturityAndInterestRateReductionMemberprk:ConstructionRealEstateRetailMember2023-01-012023-03-310000805676prk:ModificationOtherMemberprk:ConstructionRealEstateRetailMember2023-01-012023-03-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:PrincipalForgivenessMember2023-01-012023-03-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:PaymentDeferralMember2023-01-012023-03-310000805676us-gaap:ExtendedMaturityMemberprk:ResidentialRealEstateCommercialMember2023-01-012023-03-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:InterestRateBelowMarketReductionMember2023-01-012023-03-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-03-310000805676prk:ModificationOtherMemberprk:ResidentialRealEstateCommercialMember2023-01-012023-03-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:PrincipalForgivenessMember2023-01-012023-03-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:PaymentDeferralMember2023-01-012023-03-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:ExtendedMaturityMember2023-01-012023-03-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:InterestRateBelowMarketReductionMember2023-01-012023-03-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-03-310000805676prk:ResidentialRealEstateMortgageMemberprk:ModificationOtherMember2023-01-012023-03-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMemberus-gaap:PrincipalForgivenessMember2023-01-012023-03-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMemberus-gaap:PaymentDeferralMember2023-01-012023-03-310000805676us-gaap:ExtendedMaturityMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2023-01-012023-03-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMemberus-gaap:InterestRateBelowMarketReductionMember2023-01-012023-03-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-03-310000805676prk:ModificationOtherMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2023-01-012023-03-310000805676prk:ResidentialRealEstateInstallmentMemberus-gaap:PrincipalForgivenessMember2023-01-012023-03-310000805676prk:ResidentialRealEstateInstallmentMemberus-gaap:PaymentDeferralMember2023-01-012023-03-310000805676us-gaap:ExtendedMaturityMemberprk:ResidentialRealEstateInstallmentMember2023-01-012023-03-310000805676prk:ResidentialRealEstateInstallmentMemberus-gaap:InterestRateBelowMarketReductionMember2023-01-012023-03-310000805676prk:ResidentialRealEstateInstallmentMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-03-310000805676prk:ModificationOtherMemberprk:ResidentialRealEstateInstallmentMember2023-01-012023-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberus-gaap:PrincipalForgivenessMember2023-01-012023-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberus-gaap:PaymentDeferralMember2023-01-012023-03-310000805676us-gaap:ExtendedMaturityMemberprk:ConsumerLessGFSCAndCheckLoansMember2023-01-012023-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberus-gaap:InterestRateBelowMarketReductionMember2023-01-012023-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-03-310000805676prk:ModificationOtherMemberprk:ConsumerLessGFSCAndCheckLoansMember2023-01-012023-03-310000805676prk:CheckLoansMemberus-gaap:PrincipalForgivenessMember2023-01-012023-03-310000805676prk:CheckLoansMemberus-gaap:PaymentDeferralMember2023-01-012023-03-310000805676us-gaap:ExtendedMaturityMemberprk:CheckLoansMember2023-01-012023-03-310000805676prk:CheckLoansMemberus-gaap:InterestRateBelowMarketReductionMember2023-01-012023-03-310000805676prk:CheckLoansMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-03-310000805676prk:ModificationOtherMemberprk:CheckLoansMember2023-01-012023-03-310000805676us-gaap:PrincipalForgivenessMemberus-gaap:FinanceLeasesPortfolioSegmentMember2023-01-012023-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMemberus-gaap:PaymentDeferralMember2023-01-012023-03-310000805676us-gaap:ExtendedMaturityMemberus-gaap:FinanceLeasesPortfolioSegmentMember2023-01-012023-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMemberus-gaap:InterestRateBelowMarketReductionMember2023-01-012023-03-310000805676us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:FinanceLeasesPortfolioSegmentMember2023-01-012023-03-310000805676prk:ModificationOtherMemberus-gaap:FinanceLeasesPortfolioSegmentMember2023-01-012023-03-310000805676us-gaap:PrincipalForgivenessMember2023-01-012023-03-310000805676us-gaap:PaymentDeferralMember2023-01-012023-03-310000805676us-gaap:ExtendedMaturityMember2023-01-012023-03-310000805676us-gaap:InterestRateBelowMarketReductionMember2023-01-012023-03-310000805676us-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-03-310000805676prk:ModificationOtherMember2023-01-012023-03-310000805676us-gaap:FinancingReceivables60To89DaysPastDueMember2024-01-012024-03-310000805676us-gaap:FinancingReceivables30To59DaysPastDueMember2024-01-012024-03-310000805676us-gaap:FinancingReceivables1To29DaysPastDueMember2024-01-012024-03-310000805676srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccountingStandardsUpdate202202Member2022-12-310000805676srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMemberus-gaap:AccountingStandardsUpdate202202Member2022-12-310000805676prk:CommercialFinancialAndAgriculturalMember2023-12-310000805676prk:ConstructionRealEstateMember2023-12-310000805676us-gaap:ResidentialPortfolioSegmentMember2023-12-310000805676us-gaap:ConsumerPortfolioSegmentMember2023-12-310000805676prk:CommercialFinancialAndAgriculturalMember2024-01-012024-03-310000805676prk:ConstructionRealEstateMember2024-01-012024-03-310000805676us-gaap:ResidentialPortfolioSegmentMember2024-01-012024-03-310000805676us-gaap:ConsumerPortfolioSegmentMember2024-01-012024-03-310000805676prk:CommercialFinancialAndAgriculturalMember2024-03-310000805676prk:ConstructionRealEstateMember2024-03-310000805676us-gaap:ResidentialPortfolioSegmentMember2024-03-310000805676us-gaap:ConsumerPortfolioSegmentMember2024-03-310000805676prk:CommercialFinancialAndAgriculturalMember2022-12-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMember2022-12-310000805676prk:ConstructionRealEstateMember2022-12-310000805676us-gaap:ResidentialPortfolioSegmentMember2022-12-310000805676us-gaap:ConsumerPortfolioSegmentMember2022-12-310000805676us-gaap:FinanceLeasesPortfolioSegmentMember2022-12-310000805676prk:CommercialFinancialAndAgriculturalMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2022-12-310000805676srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-12-310000805676srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberprk:ConstructionRealEstateMember2022-12-310000805676srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ResidentialPortfolioSegmentMember2022-12-310000805676srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000805676srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:FinanceLeasesPortfolioSegmentMember2022-12-310000805676srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2022-12-310000805676prk:CommercialFinancialAndAgriculturalMember2023-01-012023-03-310000805676prk:ConstructionRealEstateMember2023-01-012023-03-310000805676us-gaap:ResidentialPortfolioSegmentMember2023-01-012023-03-310000805676us-gaap:ConsumerPortfolioSegmentMember2023-01-012023-03-310000805676prk:CommercialFinancialAndAgriculturalMember2023-03-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMember2023-03-310000805676prk:ConstructionRealEstateMember2023-03-310000805676us-gaap:ResidentialPortfolioSegmentMember2023-03-310000805676us-gaap:ConsumerPortfolioSegmentMember2023-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMember2023-03-310000805676us-gaap:RealEstateLoanMember2024-03-310000805676us-gaap:RealEstateLoanMember2023-12-310000805676us-gaap:CoreDepositsMember2024-03-310000805676us-gaap:CoreDepositsMember2023-12-310000805676us-gaap:OtherInvesteesMember2024-03-310000805676us-gaap:OtherInvesteesMember2023-12-310000805676us-gaap:CommercialRealEstateMember2024-03-310000805676us-gaap:CommercialRealEstateMember2023-12-310000805676us-gaap:ResidentialRealEstateMember2024-03-310000805676us-gaap:ResidentialRealEstateMember2023-12-310000805676us-gaap:OtherAssetsMember2024-03-310000805676us-gaap:OtherLiabilitiesMember2024-03-310000805676us-gaap:OtherAssetsMember2023-12-310000805676us-gaap:OtherLiabilitiesMember2023-12-310000805676us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-03-310000805676us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2023-12-310000805676us-gaap:MaturityOvernightMember2024-03-310000805676us-gaap:MaturityUpTo30DaysMember2024-03-310000805676us-gaap:Maturity30To90DaysMember2024-03-310000805676us-gaap:MaturityOver90DaysMember2024-03-310000805676us-gaap:MaturityOvernightMember2023-12-310000805676us-gaap:MaturityUpTo30DaysMember2023-12-310000805676us-gaap:Maturity30To90DaysMember2023-12-310000805676us-gaap:MaturityOver90DaysMember2023-12-310000805676prk:LoanDerivativeMember2024-03-310000805676prk:LoanDerivativeMember2023-12-310000805676prk:LoanDerivativeMember2024-01-012024-03-310000805676prk:LoanDerivativeMember2023-01-012023-12-310000805676prk:LoanDerivativeMemberus-gaap:OtherAssetsMember2024-03-310000805676prk:LoanDerivativeMemberus-gaap:OtherAssetsMember2024-01-012024-03-310000805676prk:LoanDerivativeMemberus-gaap:OtherAssetsMember2023-12-310000805676prk:LoanDerivativeMemberus-gaap:OtherAssetsMember2023-01-012023-12-310000805676prk:LoanDerivativeMemberus-gaap:IndividuallyImmaterialCounterpartiesMemberus-gaap:OtherAssetsMember2024-03-310000805676prk:LoanDerivativeMemberus-gaap:IndividuallyImmaterialCounterpartiesMemberus-gaap:OtherAssetsMember2024-01-012024-03-310000805676prk:LoanDerivativeMemberus-gaap:IndividuallyImmaterialCounterpartiesMemberus-gaap:OtherAssetsMember2023-12-310000805676prk:LoanDerivativeMemberus-gaap:IndividuallyImmaterialCounterpartiesMemberus-gaap:OtherAssetsMember2023-01-012023-12-310000805676us-gaap:InterestRateSwapMemberus-gaap:OtherAssetsMember2024-03-310000805676us-gaap:InterestRateSwapMemberus-gaap:OtherAssetsMember2024-01-012024-03-310000805676us-gaap:InterestRateSwapMemberus-gaap:OtherAssetsMember2023-12-310000805676us-gaap:InterestRateSwapMemberus-gaap:OtherAssetsMember2023-01-012023-12-310000805676prk:LoanDerivativeMemberus-gaap:OtherLiabilitiesMember2024-03-310000805676prk:LoanDerivativeMemberus-gaap:OtherLiabilitiesMember2024-01-012024-03-310000805676prk:LoanDerivativeMemberus-gaap:OtherLiabilitiesMember2023-12-310000805676prk:LoanDerivativeMemberus-gaap:OtherLiabilitiesMember2023-01-012023-12-310000805676prk:LoanDerivativeMemberus-gaap:OtherLiabilitiesMemberus-gaap:IndividuallyImmaterialCounterpartiesMember2024-03-310000805676prk:LoanDerivativeMemberus-gaap:OtherLiabilitiesMemberus-gaap:IndividuallyImmaterialCounterpartiesMember2024-01-012024-03-310000805676prk:LoanDerivativeMemberus-gaap:OtherLiabilitiesMemberus-gaap:IndividuallyImmaterialCounterpartiesMember2023-12-310000805676prk:LoanDerivativeMemberus-gaap:OtherLiabilitiesMemberus-gaap:IndividuallyImmaterialCounterpartiesMember2023-01-012023-12-310000805676us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMember2024-03-310000805676us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMember2024-01-012024-03-310000805676us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMember2023-12-310000805676us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMember2023-01-012023-12-310000805676prk:InterestRateLockCommitmentMember2024-03-310000805676prk:InterestRateLockCommitmentMember2023-12-310000805676us-gaap:SwapMember2024-03-310000805676us-gaap:SwapMember2023-12-310000805676us-gaap:PerformanceSharesMemberus-gaap:CommonStockMember2024-01-012024-03-310000805676us-gaap:PerformanceSharesMemberus-gaap:CommonStockMember2023-01-012023-03-310000805676prk:A2017EmployeesLongTermIncentivePlanMember2024-03-310000805676prk:A2017NonEmployeeDirectorsLTIPMember2024-03-310000805676us-gaap:PerformanceSharesMemberprk:A2017EmployeesLongTermIncentivePlanMember2024-01-012024-03-310000805676us-gaap:PerformanceSharesMemberprk:A2017EmployeesLongTermIncentivePlanMember2023-01-012023-03-310000805676prk:A2017EmployeesLongTermIncentivePlanMember2024-01-012024-03-310000805676us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2024-01-012024-03-310000805676us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2023-01-012023-03-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel2Member2024-03-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000805676prk:USGovernmentSponsoredEntitiesAssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-03-310000805676prk:USGovernmentSponsoredEntitiesAssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:FairValueInputsLevel2Member2024-03-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMember2024-03-310000805676us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2024-03-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMember2024-03-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EquitySecuritiesMember2024-03-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2024-03-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-03-310000805676us-gaap:FairValueMeasurementsRecurringMember2024-03-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:LoansReceivableMemberus-gaap:FairValueInputsLevel2Member2024-03-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:LoansReceivableMember2024-03-310000805676us-gaap:SwapMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-03-310000805676us-gaap:SwapMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel2Member2023-12-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000805676prk:USGovernmentSponsoredEntitiesAssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2023-12-310000805676prk:USGovernmentSponsoredEntitiesAssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:FairValueInputsLevel2Member2023-12-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMember2023-12-310000805676us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2023-12-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMember2023-12-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EquitySecuritiesMember2023-12-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2023-12-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2023-12-310000805676us-gaap:FairValueMeasurementsRecurringMember2023-12-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:LoansReceivableMemberus-gaap:FairValueInputsLevel2Member2023-12-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:LoansReceivableMember2023-12-310000805676us-gaap:SwapMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-12-310000805676us-gaap:SwapMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000805676us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-12-310000805676us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2024-01-012024-03-310000805676us-gaap:SwapMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-01-012024-03-310000805676us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-03-310000805676us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2022-12-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EquitySecuritiesMember2022-12-310000805676us-gaap:SwapMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2022-12-310000805676us-gaap:EquitySecuritiesMember2023-01-012023-03-310000805676us-gaap:SwapMember2023-01-012023-03-310000805676us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-01-012023-03-310000805676us-gaap:SwapMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-01-012023-03-310000805676us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-03-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EquitySecuritiesMember2023-03-310000805676us-gaap:SwapMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialRealEstateMemberus-gaap:FairValueInputsLevel3Member2024-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialRealEstateMember2024-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2024-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMember2024-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2024-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialRealEstateMemberus-gaap:FairValueInputsLevel3Member2023-12-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialRealEstateMember2023-12-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2023-12-310000805676us-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2023-12-310000805676prk:CommercialReceivablesExcludingCommercialFinancialAndAgriculturalDomain2024-03-310000805676prk:FinancingReceivableNotCollateralDependentDomain2024-03-310000805676prk:CommercialReceivablesExcludingCommercialFinancialAndAgriculturalDomain2023-12-310000805676prk:FinancingReceivableNotCollateralDependentDomain2023-12-310000805676us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676us-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676us-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676us-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676us-gaap:LoansReceivableMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputCapRateMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:MinimumMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676us-gaap:LoansReceivableMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputCapRateMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:MaximumMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676us-gaap:LoansReceivableMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputCapRateMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:WeightedAverageMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000805676us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:ResidentialRealEstateMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2024-03-310000805676us-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:ResidentialRealEstateMemberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMember2024-03-310000805676us-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:ResidentialRealEstateMemberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMember2024-03-310000805676us-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:ResidentialRealEstateMemberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMember2024-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:LoansReceivableMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676us-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676us-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676us-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676us-gaap:LoansReceivableMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputCapRateMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:MinimumMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676us-gaap:LoansReceivableMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputCapRateMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:MaximumMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676us-gaap:LoansReceivableMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputCapRateMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:WeightedAverageMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000805676us-gaap:ResidentialRealEstateMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:LoansReceivableMember2023-12-310000805676us-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:ResidentialRealEstateMemberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMember2023-12-310000805676us-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:ResidentialRealEstateMemberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMember2023-12-310000805676us-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:ResidentialRealEstateMemberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMember2023-12-310000805676us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2024-03-310000805676us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2023-12-310000805676us-gaap:CarryingReportedAmountFairValueDisclosureMember2024-03-310000805676us-gaap:FairValueInputsLevel1Member2024-03-310000805676us-gaap:FairValueInputsLevel2Member2024-03-310000805676us-gaap:FairValueInputsLevel3Member2024-03-310000805676us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:EquitySecuritiesMember2024-03-310000805676us-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMember2024-03-310000805676us-gaap:FairValueInputsLevel3Memberus-gaap:EquitySecuritiesMember2024-03-310000805676us-gaap:EquitySecuritiesMember2024-03-310000805676us-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000805676us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:LoansReceivableMember2024-03-310000805676us-gaap:LoansReceivableMemberus-gaap:FairValueInputsLevel1Member2024-03-310000805676us-gaap:LoansReceivableMemberus-gaap:FairValueInputsLevel2Member2024-03-310000805676us-gaap:FairValueInputsLevel3Memberus-gaap:LoansReceivableMember2024-03-310000805676us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:LoansReceivableMember2024-03-310000805676us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:SwapMember2024-03-310000805676us-gaap:SwapMemberus-gaap:FairValueInputsLevel3Member2024-03-310000805676us-gaap:LoansReceivableMember2024-03-310000805676us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000805676us-gaap:FairValueInputsLevel1Member2023-12-310000805676us-gaap:FairValueInputsLevel2Member2023-12-310000805676us-gaap:FairValueInputsLevel3Member2023-12-310000805676us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:EquitySecuritiesMember2023-12-310000805676us-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMember2023-12-310000805676us-gaap:FairValueInputsLevel3Memberus-gaap:EquitySecuritiesMember2023-12-310000805676us-gaap:EquitySecuritiesMember2023-12-310000805676us-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000805676us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:LoansReceivableMember2023-12-310000805676us-gaap:LoansReceivableMemberus-gaap:FairValueInputsLevel1Member2023-12-310000805676us-gaap:LoansReceivableMemberus-gaap:FairValueInputsLevel2Member2023-12-310000805676us-gaap:FairValueInputsLevel3Memberus-gaap:LoansReceivableMember2023-12-310000805676us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:LoansReceivableMember2023-12-310000805676us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:SwapMember2023-12-310000805676us-gaap:SwapMemberus-gaap:FairValueInputsLevel3Member2023-12-310000805676us-gaap:LoansReceivableMember2023-12-310000805676prk:WithinScopeDomain2024-01-012024-03-310000805676prk:WithinScopeDomain2023-01-012023-03-310000805676prk:OutofScopeDomain2023-01-012023-03-31

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 10-Q
 
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2024
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ______________________ to __________________________

  
Commission File Number1-13006
 
PARK NATIONAL CORPORATION
(Exact name of registrant as specified in its charter)
 
Ohio 31-1179518
(State or other jurisdiction of
incorporation or organization)
 (I.R.S. Employer Identification No.)
50 North Third Street, P.O. Box 3500Newark,Ohio43058-3500
(Address of principal executive offices) (Zip Code)
(740) 349-8451
(Registrant’s telephone number, including area code)
N/A
(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common shares, without par valuePRKNYSE American


Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

 Yes   ☒   No   ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes  ☒   No  ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”,
“smaller reporting company”, and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filer
Non-accelerated filerSmaller reporting company    
Emerging growth company
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

 Yes      No   ☒

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date: 16,149,523 Common Shares, no par value per share, outstanding at May 1, 2024.




PARK NATIONAL CORPORATION
 
CONTENTS
 Page
PART I.   FINANCIAL INFORMATION 
  
Item 1.  Financial Statements 
  
  
  
  
  
  
  
  
  
  
86 
  
  
  
  
  
  
  
  
3


Glossary of Abbreviations and Acronyms

Park has identified the following list of abbreviations and acronyms that are used in the Unaudited Consolidated Condensed Financial Statements, Notes to Unaudited Consolidated Condensed Financial Statements, and Management's Discussion and Analysis of Financial Condition and Results of Operations.

ACHAutomated clearing houseLDALoss driver analysis
ACLAllowance for credit lossesLGDLoss given default
AFSAvailable-for-saleLTIPLong-Term Incentive Plan
AllowanceAllowance for credit lossesMSRsMortgage servicing rights
ASCAccounting Standards CodificationNAVNet asset value
ASUAccounting Standards UpdateNewDominionNewDominion Bank
ATMAutomated teller machineNSFNon-sufficient funds
Carolina AllianceCAB Financial Corporation and its subsidiariesOREOOther real estate owned
CompanyPark National Corporation and its subsidiariesParkPark National Corporation and its subsidiaries
CorporationPark National Corporation and its subsidiariesPark National BankThe Park National Bank
COVID-19Novel coronavirusPBRSUsPerformance-based restricted stock units
DCFDiscounted cash flowPCDPurchased credit deteriorated
DDADemand deposit accountPDProbability of default
EPSEarnings per common sharePNBThe Park National Bank
FASBFinancial Accounting Standards BoardPPPCARES Act Paycheck Protection Program
FDICFederal Deposit Insurance CorporationPTPPPre-tax, pre-provision
FFIECFederal Financial Institutions Examination CouncilRegistrantPark National Corporation
FHLBFederal Home Loan BankROURight-of-use
FRBFederal Reserve BankSARsStock appreciation rights
FTEFully taxable equivalentSECU.S. Securities and Exchange Commission
GDPGross domestic productSERPSupplemental Executive Retirement Plan
HELOCHome equity line of creditTBRSUsTime-based restricted stock units
HPIHome price indexTDRsTroubled debt restructurings
ICSInsured Cash SweepU.S.United States of America
IRLCInterest rate lock commitmentU.S. GAAPUnited States Generally Accepted Accounting Principles
KSOPPark's qualified retirement plan that combines an employee stock ownership plan (ESOP) with a 401(k) planUnited StatesUnited States of America
VOVVerification of value
4

Table of Contents


PART I. FINANCIAL INFORMATION
Item 1.      Financial Statements

PARK NATIONAL CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheets (Unaudited)
(in thousands, except common share and per common share data)    
                
March 31,
2024
December 31, 2023
Assets:  
Cash and due from banks$112,117 $160,477 
Money market instruments193,964 57,791 
Cash and cash equivalents306,081 218,268 
Investment securities:  
Debt securities available-for-sale, at fair value (amortized cost of $1,334,973 and $1,418,770 at March 31, 2024 and December 31, 2023, respectively, and no allowance for credit losses at March 31, 2024 or at December 31, 2023)
1,248,787 1,332,842 
Other investment securities90,960 96,302 
Total investment securities1,339,747 1,429,144 
Loans7,525,005 7,476,221 
Allowance for credit losses(85,084)(83,745)
Net loans7,439,921 7,392,476 
Bank owned life insurance233,245 231,631 
Prepaid assets167,488 165,879 
Goodwill159,595 159,595 
Other intangible assets4,332 4,652 
Premises and equipment, net73,818 74,211 
Affordable housing tax credit investments60,565 62,703 
OREO1,674 983 
Accrued interest receivable38,052 39,236 
Operating lease ROU asset15,786 15,715 
Mortgage loan servicing rights14,435 14,656 
Other26,338 27,304 
Total assets$9,881,077 $9,836,453 

5

Table of Contents


PARK NATIONAL CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheets (Unaudited) (Continued)
(in thousands, except common share and per common share data)

March 31,
2024
December 31, 2023
Liabilities and Shareholders' Equity:  
Deposits:  
Non-interest bearing$2,587,152 $2,628,234 
Interest bearing5,718,880 5,414,332 
Total deposits8,306,032 8,042,566 
Short-term borrowings105,859 328,182 
Subordinated notes189,271 189,147 
Unfunded commitments in affordable housing tax credit investments24,674 28,768 
Operating lease liability16,510 16,605 
Allowance for credit losses on off-balance sheet commitments5,021 5,103 
Accrued interest payable5,494 6,860 
Other66,237 73,929 
Total liabilities$8,719,098 $8,691,160 
Shareholders' equity:  
Preferred shares (No par value; 200,000 shares authorized; No shares issued)
$ $ 
Common shares (No par value; 20,000,000 shares authorized; 17,623,104 common shares issued at March 31, 2024 and at December 31, 2023)
459,532 463,280 
Retained earnings921,101 903,877 
Treasury shares (1,473,581 common shares at March 31, 2024 and 1,506,625 common shares at December 31, 2023)
(152,259)(155,673)
Accumulated other comprehensive loss, net of taxes(66,395)(66,191)
Total shareholders' equity1,161,979 1,145,293 
Total liabilities and shareholders’ equity$9,881,077 $9,836,453 

SEE ACCOMPANYING NOTES TO UNAUDITED CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
6

Table of Contents


PARK NATIONAL CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Income (Unaudited)
(in thousands, except common share and per common share data)

Three Months Ended
March 31,
 20242023
Interest and dividend income:  
Interest and fees on loans$111,211 $91,614 
Interest and dividends on:  
Debt securities - taxable11,899 12,979 
Debt securities - tax-exempt1,410 2,912 
Other interest income2,120 3,396 
Total interest and dividend income126,640 110,901 
Interest expense:  
Interest on deposits:  
Demand and savings deposits19,855 14,212 
Time deposits7,338 1,347 
Interest on borrowings:  
Short-term borrowings1,464 824 
Subordinated notes2,360 2,320 
Total interest expense31,017 18,703 
Net interest income95,623 92,198 
Provision for credit losses2,180 183 
Net interest income after provision for credit losses$93,443 $92,015 
Other income:  
Income from fiduciary activities$10,024 $8,615 
Service charges on deposit accounts2,106 2,241 
Other service income2,524 2,697 
Debit card fee income6,243 6,457 
Bank owned life insurance income2,629 1,185 
ATM fees496 533 
Gain (loss) on the sale of OREO, net121 (9)
Loss on the sale of debt securities, net(398) 
Loss on equity securities, net(687)(405)
Other components of net periodic pension benefit income2,204 1,893 
Miscellaneous938 1,180 
Total other income$26,200 $24,387 


7

Table of Contents


PARK NATIONAL CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Income (Unaudited) (Continued)
(in thousands, except common share and per common share data)

Three Months Ended
March 31,
 20242023
Other expense:  
Salaries$35,733 $34,871 
Employee benefits11,560 10,816 
Occupancy expense3,181 3,353 
Furniture and equipment expense2,583 3,246 
Data processing fees8,808 8,750 
Professional fees and services6,817 7,221 
Marketing1,741 1,319 
Insurance1,718 1,814 
Communication1,036 1,037 
State tax expense1,110 1,278 
Amortization of intangible assets320 327 
Miscellaneous2,621 2,471 
Total other expense$77,228 $76,503 
Income before income taxes$42,415 $39,899 
Income taxes7,211 6,166 
Net income$35,204 $33,733 
Earnings per common share:
Basic$2.18 $2.08 
Diluted$2.17 $2.07 
Weighted average common shares outstanding:  
Basic16,116,842 16,242,353 
Diluted16,191,065 16,324,823 
Regular cash dividends declared per common share$1.06 $1.05 
 
SEE ACCOMPANYING NOTES TO UNAUDITED CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
 


8

Table of Contents


PARK NATIONAL CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income (Unaudited)
(in thousands)

Three Months Ended
March 31,
 20242023
Net income$35,204 $33,733 
Other comprehensive (loss) income, net of tax:
Unrealized net holding (loss) gain on debt securities available-for-sale, net of income tax effect of $(138) and $3,285 for the three months ended March 31, 2024 and 2023, respectively
(518)12,361 
Net loss realized on sale of debt securities, AFS, net of income tax effect of $84 for the three months ended March 31, 2024
314  
Other comprehensive (loss) income$(204)$12,361 
Comprehensive income $35,000 $46,094 
 
SEE ACCOMPANYING NOTES TO UNAUDITED CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

9

Table of Contents


PARK NATIONAL CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Changes in Shareholders' Equity (Unaudited)
(in thousands, except common share and per common share data)
  
Preferred
Shares
Common
Shares
Retained
Earnings
Treasury
Shares
Accumulated
Other
Comprehensive
Loss
Balance at December 31, 2023$ $463,280 $903,877 $(155,673)$(66,191)
Net income35,204 
Other comprehensive loss, net of tax(204)
Dividends on common shares at $1.06 per common share
(17,287)
Issuance of 33,044 common shares under share-based compensation awards, net of 21,937 common shares withheld to pay employee income taxes
(5,701)(693)3,414 
Share-based compensation expense1,953 
Balance at March 31, 2024$ $459,532 $921,101 $(152,259)$(66,395)

Preferred
Shares
Common
Shares
Retained
Earnings
Treasury
Shares
Accumulated
Other
Comprehensive
Loss
Balance at December 31, 2022$ $462,404 $847,235 $(138,019)$(102,394)
Cumulative effect of a change in accounting principle(303)
Balance at January 1, 2023$ $462,404 $846,932 $(138,019)$(102,394)
Net income 33,733 
Other comprehensive income, net of tax 12,361 
Dividends on common shares at $1.05 per common share
 (17,285)
Issuance of 34,484 common shares under share-based compensation awards, net of 21,981 common shares withheld to pay employee income taxes
(5,309)(862)3,564 
Share-based compensation expense2,336 
Repurchase of 124,000 common shares to be held as treasury shares
$(15,308)
Balance at March 31, 2023$ $459,431 $862,518 $(149,763)$(90,033)

SEE ACCOMPANYING NOTES TO UNAUDITED CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

10

Table of Contents


PARK NATIONAL CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Cash Flows (Unaudited)
(in thousands)
Three Months Ended
March 31,
 20242023
Operating activities:  
Net income$35,204 $33,733 
Adjustments to reconcile net income to net cash provided by operating activities:  
Provision for credit losses2,180 183 
Accretion of loan fees and costs, net(2,027)(2,169)
Depreciation of premises and equipment3,119 3,500 
Amortization of investment securities, net415 817 
Net (accretion) amortization of purchase accounting adjustments(30)119 
Loss on the sale of debt securities, net398  
Loss on equity securities, net687 405 
Loan originations to be sold in secondary market(16,382)(15,332)
Proceeds from sale of loans in secondary market17,892 15,730 
Gain on sale of loans in secondary market(312)(325)
Share-based compensation expense1,953 2,336 
(Gain) loss on sale of OREO, net(121)9 
Bank owned life insurance income(2,629)(1,185)
Investment in qualified affordable housing tax credits amortization2,138 2,097 
Changes in assets and liabilities:
Decrease in prepaid dealer premiums173 601 
Decrease (increase) in other assets1,533 (2,116)
Decrease in other liabilities(9,537)(13,986)
Net cash provided by operating activities$34,654 $24,417 
Investing activities:  
Proceeds from sales of investment securities$30,797 $ 
Proceeds from the redemption/repurchase of FHLB stock4,563 3,094 
Proceeds from calls and maturities of:  
Debt securities AFS54,287 34,085 
Purchases of:  
Debt securities AFS(2,100) 
Equity securities (2,195)
FHLB stock(225) 
Net decrease (increase) in other investments317 (183)
Net loan (originations) paydowns, portfolio loans(49,181)50,193 
Investment in qualified affordable housing tax credits(4,094)(1,409)
Proceeds from the sale of OREO167 13 
Bank owned life insurance death benefits3,685 229 
Purchases of bank owned life insurance(2,670)(2,500)
Purchases of premises and equipment(3,142)(2,674)
Net cash provided by investing activities$32,404 $78,653 
11

Table of Contents


PARK NATIONAL CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Cash Flows (Unaudited) (Continued)
(in thousands)
Three Months Ended
March 31,
 20242023
Financing activities:  
Net increase in deposits$264,560 $28,392 
Net (increase) decrease in off-balance sheet deposits(1,094)31,337 
Net decrease in short-term borrowings(222,323)(55,284)
Value of common shares withheld to pay employee income taxes(2,980)(2,607)
Repurchase of common shares to be held as treasury shares (15,308)
Cash dividends paid(17,408)(17,409)
Net cash provided by (used in) financing activities$20,755 $(30,879)
Increase in cash and cash equivalents87,813 72,191 
Cash and cash equivalents at beginning of year218,268 189,728 
Cash and cash equivalents at end of period$306,081 $261,919 
Supplemental disclosures of cash flow information:  
Cash paid for:  
Interest$32,383 $20,528 
Non-cash items:
Loans transferred to OREO$737 $138 
ROU assets obtained in exchange for lease obligations547 136 

SEE ACCOMPANYING NOTES TO UNAUDITED CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

12

Table of Contents



PARK NATIONAL CORPORATION
NOTES TO UNAUDITED CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

Note 1 – Basis of Presentation
 
The accompanying unaudited consolidated condensed financial statements included in this report have been prepared for Park National Corporation (sometimes also referred to as the “Registrant”) and its subsidiaries. Unless the context otherwise requires, references to "Park", the "Corporation" or the "Company" and similar terms mean Park National Corporation and its subsidiaries. In the opinion of management, all adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the results of operations for the interim periods included herein have been made. The results of operations for the three-month period ended March 31, 2024 are not necessarily indicative of the operating results to be anticipated for the year ending December 31, 2024.
 
The accompanying unaudited consolidated condensed financial statements have been prepared in accordance with the instructions for Quarterly Reports on Form 10-Q and, therefore, do not include all information and footnotes necessary for a fair presentation of the consolidated condensed balance sheets, consolidated condensed statements of income, consolidated condensed statements of comprehensive income, consolidated condensed statements of changes in shareholders’ equity and consolidated condensed statements of cash flows in conformity with U.S. GAAP. These financial statements should be read in conjunction with the consolidated financial statements included in Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA in the Annual Report on Form 10-K of Park National Corporation for the fiscal year ended December 31, 2023 ("Park's 2023 Form 10-K"). Certain prior period amounts have been reclassified to conform to the current period presentation.
 
Park’s significant accounting policies are described in Note 1. Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements included in Park’s 2023 Form 10-K. For interim reporting purposes, Park follows the same basic accounting policies, as updated by the information contained in this report, and considers each interim period an integral part of an annual period.

Note 2 - Adoption of New Accounting Pronouncements and Issued But Not Yet Effective Accounting Standards

The following is a summary of new accounting pronouncements impacting Park's consolidated financial statements:

Adoption of New Accounting Pronouncements

No significant new pronouncements were adopted during the three months ended March 31, 2024.

Issued But Not Yet Effective Accounting Standards

ASU 2023-06 - Disclosure Improvements - Codification Amendments in Response to the SEC's Disclosure Update and Simplification Initiative: In October 2023, FASB issued ASU 2023-06 - Disclosure Improvements - Codification Amendments in Response to the SEC's Disclosure Update and Simplification Initiative. ASU 2023-06 amends the disclosure or presentation requirements related to various subtopics in the FASB Accounting Standards Codification. ASU 2023-06 was issued in response to the SEC's August 2018 final rule that updated and simplified disclosure requirements. In the final rule, the SEC identified 27 disclosure requirements that were incremental to those in the ASC and referred them to the FASB for potential incorporation into US GAAP. To avoid duplication, the SEC intended to eliminate those disclosure requirements from existing SEC regulations if the FASB incorporated them into the relevant ASC subtopics. The disclosure requirements are currently included in either SEC Regulation S-X or SEC Regulation S-K. ASU 2023-06 adds 14 of the 27 identified disclosure or presentation requirements to the ASC.

For entities, like Park that are subject to the SEC's existing disclosure requirements, the effective date for each amendment will be the date on which the SEC's removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The amendments are to be applied prospectively and, if by June 30, 2027 the SEC has not removed the applicable requirement from Regulation S-X or S-K, the pending content of the related amendment will be removed from the ASC and will not become effective for any entity. Management intends to adopt the provisions of ASU 2023-06 on their respective effective dates. The adoption of the provisions of ASU 2023-06 is not expected to have a material impact on Park's consolidated financial statements.

13

Table of Contents


ASU 2023-07 - Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures
In November 2023, FASB issued ASU 2023-07 -Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07 will require public entities to disclose information about their reportable segments' significant expenses on an interim and annual basis. Public entities will be required to disclose other segment items for each reportable segment and provide a description of its composition. Significant expense categories are derived from expenses that are regularly reported to an entity's chief operating decision-makers and included in a segments' reported measures of profit or loss. ASU 2023-07 will also require for an entity to disclose the title and position of the chief operating decision-maker and explain how the chief operating decision-maker uses the reported measures of profit or loss to assess segment performance. ASU 2023-07 also requires interim disclosures of certain segment-related disclosures that previously were required only on an annual basis and clarifies that entities with a single reportable segment are subject to both new and existing segment reporting requirements under Topic 280.

ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. ASU 2023-07 requires entities to adopt the changes to the segment reporting guidance on a retrospective basis and early adoption is permitted. The adoption of the provisions of ASU 2023-07 is not expected to have an impact on Park's consolidated financial statements.

ASU 2023-09- Income Taxes (Topic 740) Improvement to Income Tax Disclosures
In December 2023, FASB issued ASU 2023-09 - Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 will require entities to disclose more detailed information in the reconciliation of their statutory tax rate to their effective tax rate. ASU 2023-09 also requires entities to disclose more detailed information about income taxes paid, including by jurisdiction.

ASU 2023-09 is effective for public business entities for annual reporting periods beginning after December 15, 2024 and interim periods beginning after December 15, 2025. The adoption of the provisions of ASU 2023-09 is not expected to have an impact on Park's consolidated financial statements, but will impact disclosures.

Note 3 – Investment Securities
 
Investment securities at March 31, 2024 and at December 31, 2023, were as follows:

Debt securities AFS (In thousands)Amortized
Cost
Gross
Unrealized
Holding 
Gains
Gross
Unrealized
Holding 
Losses
Fair Value
March 31, 2024:
Obligations of states and political subdivisions$219,886 $392 $13,752 $206,526 
U.S. Government sponsored entities' asset-backed securities672,462 13 69,466 603,009 
Collateralized loan obligations420,041 320 1,364 418,997 
Corporate debt securities22,584 1 2,330 20,255 
Total$1,334,973 $726 $86,912 $1,248,787 
 
Debt securities AFS (In thousands)Amortized
Cost
Gross
Unrealized
Holding 
Gains
Gross
Unrealized
Holding 
Losses
Fair Value
December 31, 2023:
Obligations of states and political subdivisions$251,531 $1,173 $11,520 $241,184 
U.S. Government sponsored entities' asset-backed securities703,645 23 68,193 635,475 
Collateralized loan obligations443,112 31 4,857 438,286 
Corporate debt securities20,482 — 2,585 17,897 
Total$1,418,770 $1,227 $87,155 $1,332,842 
14

Table of Contents


Investment securities in an unrealized loss position at March 31, 2024, were as follows:

Unrealized loss position for less than 12 monthsUnrealized loss position for 12 months or longerTotal
(In thousands)Fair valueUnrealized
losses
Fair valueUnrealized
losses
Fair
value
Unrealized
losses
Debt securities AFS:
Obligations of states and political subdivisions$37,808 $276 $131,395 $13,476 $169,203 $13,752 
U.S. Government sponsored entities' asset-backed securities  601,810 69,466 601,810 69,466 
Collateralized loan obligations34,873 25 254,721 1,339 289,594 1,364 
Corporate debt securities3,001 40 15,360 2,290 18,361 2,330 
Total$75,682 $341 $1,003,286 $86,571 $1,078,968 $86,912 
 
 Investment securities in an unrealized loss position at December 31, 2023, were as follows:

 
Unrealized loss position for less than 12 monthsUnrealized loss position for 12 months or longerTotal
(In thousands)Fair valueUnrealized
losses
Fair valueUnrealized
losses
Fair
value
Unrealized
losses
Debt securities AFS:
Obligations of states and political subdivisions$46,685 $420 $103,993 $11,100 $150,678 $11,520 
U.S. Government sponsored entities' asset-backed securities— — 634,261 68,193 634,261 68,193 
Collateralized loan obligations— — 404,019 4,857 404,019 4,857 
Corporate debt securities9,530 702 8,367 1,883 17,897 2,585 
Total$56,215 $1,122 $1,150,640 $86,033 $1,206,855 $87,155 

At March 31, 2024, Park’s debt securities portfolio consisted of $1.2 billion of securities, $1.1 billion of which were in an unrealized loss position with aggregate unrealized losses of $86.9 million. Of the $1.1 billion of securities in an unrealized loss position, $1.0 billion were in an unrealized loss position for 12 months or longer. Of the $86.9 million in unrealized losses, $69.5 million were related to Park's "U.S. Government sponsored entities' asset-backed securities" portfolio. For non-agency debt securities, Park verified that the current credit ratings remain above investment grade. On a quarterly basis, management reviews the credit profile of each non-agency debt security and assesses whether any impairment to the contractually obligated cash flow is likely to occur. Based on these reviews, management has concluded that the underlying creditworthiness for each security remains sufficient to maintain required payment obligations and, therefore, unrealized losses have not been recognized into net income. Management does not intend to sell, and it is not more likely than not that management would be required to sell, the securities prior to their anticipated recovery in respect of the unrealized losses. Management believes the value will recover as the securities approach maturity or market interest rates change.

There was no allowance for credit losses recorded for debt securities AFS at either March 31, 2024 or December 31, 2023. Additionally, for the three months ended March 31, 2024 and 2023, there were no credit-related investment impairment losses recognized.





15

Table of Contents


The amortized cost and estimated fair value of investments in debt securities AFS at March 31, 2024, are shown in the following table by contractual maturity, except for asset-backed securities and collateral loan obligations, which are shown as a single total due to the unpredictability of the timing of principal repayments. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties.

 (In thousands)Amortized
cost
Fair value
Tax equivalent yield (1)
Debt Securities AFS
Obligations of state and political subdivisions:
Due one through five years$1,505 $1,503 3.15 %
Due five through ten years87,545 85,731 3.26 %
Due over ten years130,836 119,292 3.14 %
Total (1)
$219,886 $206,526 3.19 %
U.S. Government sponsored entities' asset-backed securities$672,462 $603,009 1.83 %
Collateralized loan obligations$420,041 $418,997 7.23 %
Corporate debt securities
Due one through five years$2,834 $2,795 9.21 %
Due five through ten years19,750 17,460 4.10 %
Total$22,584 $20,255 4.74 %
(1) The tax equivalent yield for certain obligations of state and political subdivisions includes the effect of a taxable equivalent adjustment using a 21% federal corporate income tax rate.

During the three-month period ended March 31, 2024, Park sold certain AFS debt securities with a book value of $31.2 million at a gross loss of $398,000. There were no sales of debt securities AFS during the three-month period ended March 31, 2023.

Investment securities having a fair value of $762.1 million and $602.0 million at March 31, 2024 and December 31, 2023, respectively, were pledged to collateralize government and public fund deposits, to secure repurchase agreements and as collateral for FHLB advance borrowings.

16

Table of Contents


Note 4 – Other Investment Securities
 
Other investment securities consist of restricted stock investments in the FHLB and the FRB, and equity securities. The restricted FHLB and FRB stock investments are carried at their redemption value. Equity securities with a readily determinable fair value are carried at fair value. Equity securities without a readily determinable fair value are recorded at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions ("modified cost"). Park's portfolio of equity investments in limited partnerships which provide mezzanine funding ("Partnership Investments") are valued using the NAV practical expedient in accordance with ASC 820.

The carrying amounts of other investment securities at March 31, 2024 and December 31, 2023 were as follows:
 
(In thousands)March 31, 2024December 31, 2023
FHLB stock$13,415 $17,754 
FRB stock14,653 14,653 
Equity investments carried at fair value2,092 2,089 
Equity investments carried at modified cost (1)
15,921 15,921 
Equity investments carried at NAV44,879 45,885 
Total other investment securities$90,960 $96,302 
(1) There have been no impairments or downward adjustments made to equity investments carried at modified cost. Cumulatively, upward adjustments of $871,000 have been recorded as a result of observable price changes. There were no adjustments recorded during the three months March 31, 2024 or March 31, 2023 as a result of observable price changes.

During the three months ended March 31, 2024, Park purchased 2,246 shares of FHLB stock with a book value of $225,000. No shares of FHLB stock were purchased during the three months ended March 31, 2023. During the three months ended March 31, 2024, the FHLB repurchased 45,630 shares of FHLB stock with a book value of $4.6 million. During the three months ended March 31, 2023, the FHLB repurchased 30,938 shares of FHLB stock with a book value of $3.1 million. No shares of FRB stock were purchased or sold during the three months ended March 31, 2024 or 2023.

During the three months ended March 31, 2024 and 2023, $3,000 and $(27,000), respectively, of gains (losses) on equity investments carried at fair value were recorded within "Loss on equity securities, net" on the Consolidated Condensed Statements of Income.

During the three months ended March 31, 2024 and 2023, $(690,000) and $(378,000), respectively, of losses on equity investments carried at NAV were recorded within “Loss on equity securities, net” on the Consolidated Condensed Statements of Income.

17

Table of Contents


Note 5 – Loans
 
The composition of the loan portfolio at March 31, 2024 and at December 31, 2023 was as follows:
 
March 31, 2024December 31, 2023
(In thousands)Amortized CostAmortized Cost
Commercial, financial and agricultural: (1)
Commercial, financial and agricultural (1)
$1,273,035 $1,292,025 
PPP loans1,800 2,116 
Overdrafts1,635 1,499 
Commercial real estate (1)
1,900,968 1,875,993 
Construction real estate:  
Commercial238,721 209,226 
Retail103,118 95,873 
Residential real estate:  
Commercial617,002 609,410 
Mortgage1,251,340 1,239,861 
HELOC177,017 174,349 
Installment