10-Q 1 prk-20220331.htm 10-Q prk-20220331
FALSE2022Q10000805676--12-3100008056762022-01-012022-03-3100008056762022-05-02xbrli:shares00008056762022-03-31iso4217:USD00008056762021-12-3100008056762021-01-012021-03-310000805676us-gaap:FiduciaryAndTrustMember2022-01-012022-03-310000805676us-gaap:FiduciaryAndTrustMember2021-01-012021-03-310000805676us-gaap:DepositAccountMember2022-01-012022-03-310000805676us-gaap:DepositAccountMember2021-01-012021-03-310000805676us-gaap:BankServicingMember2022-01-012022-03-310000805676us-gaap:BankServicingMember2021-01-012021-03-31iso4217:USDxbrli:shares0000805676prk:QuarterlyDividendMember2022-01-012022-03-310000805676prk:QuarterlyDividendMember2021-01-012021-03-310000805676prk:SpecialDividendMember2022-01-012022-03-310000805676prk:SpecialDividendMember2021-01-012021-03-310000805676us-gaap:PreferredStockMember2021-12-310000805676us-gaap:CommonStockMember2021-12-310000805676us-gaap:RetainedEarningsMember2021-12-310000805676us-gaap:TreasuryStockMember2021-12-310000805676us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310000805676us-gaap:RetainedEarningsMember2022-01-012022-03-310000805676us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310000805676us-gaap:CommonStockMember2022-01-012022-03-310000805676us-gaap:TreasuryStockMember2022-01-012022-03-310000805676us-gaap:PreferredStockMember2022-03-310000805676us-gaap:CommonStockMember2022-03-310000805676us-gaap:RetainedEarningsMember2022-03-310000805676us-gaap:TreasuryStockMember2022-03-310000805676us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-310000805676us-gaap:PreferredStockMember2020-12-310000805676us-gaap:CommonStockMember2020-12-310000805676us-gaap:RetainedEarningsMember2020-12-310000805676us-gaap:TreasuryStockMember2020-12-310000805676us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310000805676us-gaap:RetainedEarningsMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccountingStandardsUpdate201613Member2020-12-310000805676us-gaap:PreferredStockMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310000805676srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:CommonStockMember2020-12-310000805676us-gaap:RetainedEarningsMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310000805676us-gaap:TreasuryStockMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310000805676us-gaap:AccumulatedOtherComprehensiveIncomeMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310000805676us-gaap:RetainedEarningsMember2021-01-012021-03-310000805676us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310000805676us-gaap:CommonStockMember2021-01-012021-03-310000805676us-gaap:TreasuryStockMember2021-01-012021-03-310000805676us-gaap:PreferredStockMember2021-03-310000805676us-gaap:CommonStockMember2021-03-310000805676us-gaap:RetainedEarningsMember2021-03-310000805676us-gaap:TreasuryStockMember2021-03-310000805676us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-310000805676us-gaap:MortgagesMember2022-01-012022-03-310000805676us-gaap:MortgagesMember2021-01-012021-03-310000805676us-gaap:ConsumerPortfolioSegmentMember2022-01-012022-03-310000805676us-gaap:ConsumerPortfolioSegmentMember2021-01-012021-03-3100008056762020-12-3100008056762021-03-310000805676us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember2022-03-310000805676us-gaap:USStatesAndPoliticalSubdivisionsMember2022-03-310000805676us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2022-03-310000805676us-gaap:CollateralizedLoanObligationsMember2022-03-310000805676us-gaap:CorporateDebtSecuritiesMember2022-03-310000805676us-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310000805676us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2021-12-310000805676us-gaap:CollateralizedLoanObligationsMember2021-12-310000805676us-gaap:CorporateDebtSecuritiesMember2021-12-31xbrli:pure0000805676us-gaap:CollateralPledgedMember2022-03-310000805676us-gaap:CollateralPledgedMember2021-12-310000805676us-gaap:EquitySecuritiesMember2022-01-012022-03-310000805676us-gaap:EquitySecuritiesMember2021-01-012021-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2022-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2021-12-310000805676prk:PPPLoansReceivableMember2022-03-310000805676prk:PPPLoansReceivableMember2021-12-310000805676us-gaap:BankOverdraftsMember2022-03-310000805676us-gaap:BankOverdraftsMember2021-12-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000805676prk:ConstructionRealEstateCommercialDomain2022-03-310000805676prk:ConstructionRealEstateCommercialDomain2021-12-310000805676prk:ConstructionRealEstateRetailMember2022-03-310000805676prk:ConstructionRealEstateRetailMember2021-12-310000805676prk:ResidentialRealEstateCommercialMember2022-03-310000805676prk:ResidentialRealEstateCommercialMember2021-12-310000805676prk:ResidentialRealEstateMortgageMember2022-03-310000805676prk:ResidentialRealEstateMortgageMember2021-12-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMember2022-03-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMember2021-12-310000805676prk:ResidentialRealEstateInstallmentMember2022-03-310000805676prk:ResidentialRealEstateInstallmentMember2021-12-310000805676prk:ConsumerLessGFSCAndCheckLoansMember2022-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMember2021-12-310000805676prk:GFSCLoansMember2022-03-310000805676prk:GFSCLoansMember2021-12-310000805676prk:CheckLoansMember2022-03-310000805676prk:CheckLoansMember2021-12-310000805676us-gaap:FinanceLeasesPortfolioSegmentMember2022-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMember2021-12-3100008056762020-01-012020-12-310000805676prk:PPPRound2Member2021-01-012021-12-3100008056762021-01-012021-12-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2022-03-310000805676prk:PPPLoansReceivableMember2022-03-310000805676prk:GFSCLoansMember2022-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2021-12-310000805676prk:PPPLoansReceivableMember2021-12-310000805676prk:GFSCLoansMember2021-12-310000805676us-gaap:NonperformingFinancingReceivableMemberprk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2022-03-310000805676prk:PPPLoansReceivableMemberus-gaap:NonperformingFinancingReceivableMember2022-03-310000805676us-gaap:BankOverdraftsMemberus-gaap:NonperformingFinancingReceivableMember2022-03-310000805676us-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000805676us-gaap:NonperformingFinancingReceivableMemberprk:ConstructionRealEstateCommercialDomain2022-03-310000805676prk:ConstructionRealEstateRetailMemberus-gaap:NonperformingFinancingReceivableMember2022-03-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:NonperformingFinancingReceivableMember2022-03-310000805676us-gaap:NonperformingFinancingReceivableMemberprk:ResidentialRealEstateMortgageMember2022-03-310000805676us-gaap:NonperformingFinancingReceivableMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2022-03-310000805676us-gaap:NonperformingFinancingReceivableMemberprk:ResidentialRealEstateInstallmentMember2022-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberus-gaap:NonperformingFinancingReceivableMember2022-03-310000805676prk:GFSCLoansMemberus-gaap:NonperformingFinancingReceivableMember2022-03-310000805676prk:CheckLoansMemberus-gaap:NonperformingFinancingReceivableMember2022-03-310000805676us-gaap:NonperformingFinancingReceivableMemberus-gaap:FinanceLeasesPortfolioSegmentMember2022-03-310000805676us-gaap:NonperformingFinancingReceivableMember2022-03-310000805676us-gaap:NonperformingFinancingReceivableMemberprk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2021-12-310000805676prk:PPPLoansReceivableMemberus-gaap:NonperformingFinancingReceivableMember2021-12-310000805676us-gaap:BankOverdraftsMemberus-gaap:NonperformingFinancingReceivableMember2021-12-310000805676us-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000805676us-gaap:NonperformingFinancingReceivableMemberprk:ConstructionRealEstateCommercialDomain2021-12-310000805676prk:ConstructionRealEstateRetailMemberus-gaap:NonperformingFinancingReceivableMember2021-12-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:NonperformingFinancingReceivableMember2021-12-310000805676us-gaap:NonperformingFinancingReceivableMemberprk:ResidentialRealEstateMortgageMember2021-12-310000805676us-gaap:NonperformingFinancingReceivableMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2021-12-310000805676us-gaap:NonperformingFinancingReceivableMemberprk:ResidentialRealEstateInstallmentMember2021-12-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberus-gaap:NonperformingFinancingReceivableMember2021-12-310000805676prk:GFSCLoansMemberus-gaap:NonperformingFinancingReceivableMember2021-12-310000805676prk:CheckLoansMemberus-gaap:NonperformingFinancingReceivableMember2021-12-310000805676us-gaap:NonperformingFinancingReceivableMemberus-gaap:FinanceLeasesPortfolioSegmentMember2021-12-310000805676us-gaap:NonperformingFinancingReceivableMember2021-12-310000805676us-gaap:RealEstateMemberprk:CommercialFinancialAndAgriculturalMember2022-03-310000805676prk:BusinessAssetsMemberprk:CommercialFinancialAndAgriculturalMember2022-03-310000805676prk:CommercialFinancialAndAgriculturalMemberprk:OtherCollateralMember2022-03-310000805676prk:CommercialFinancialAndAgriculturalMemberus-gaap:CollateralPledgedMember2022-03-310000805676us-gaap:RealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000805676prk:BusinessAssetsMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMemberprk:OtherCollateralMember2022-03-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:CollateralPledgedMember2022-03-310000805676us-gaap:RealEstateMemberprk:ConstructionRealEstateCommercialDomain2022-03-310000805676prk:BusinessAssetsMemberprk:ConstructionRealEstateCommercialDomain2022-03-310000805676prk:OtherCollateralMemberprk:ConstructionRealEstateCommercialDomain2022-03-310000805676us-gaap:CollateralPledgedMemberprk:ConstructionRealEstateCommercialDomain2022-03-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:RealEstateMember2022-03-310000805676prk:ResidentialRealEstateCommercialMemberprk:BusinessAssetsMember2022-03-310000805676prk:ResidentialRealEstateCommercialMemberprk:OtherCollateralMember2022-03-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:CollateralPledgedMember2022-03-310000805676us-gaap:RealEstateMemberprk:ResidentialRealEstateMortgageMember2022-03-310000805676prk:ResidentialRealEstateMortgageMemberprk:BusinessAssetsMember2022-03-310000805676prk:ResidentialRealEstateMortgageMemberprk:OtherCollateralMember2022-03-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:CollateralPledgedMember2022-03-310000805676us-gaap:RealEstateMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2022-03-310000805676prk:BusinessAssetsMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2022-03-310000805676prk:OtherCollateralMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2022-03-310000805676us-gaap:CollateralPledgedMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2022-03-310000805676us-gaap:RealEstateMemberus-gaap:FinanceLeasesPortfolioSegmentMember2022-03-310000805676prk:BusinessAssetsMemberus-gaap:FinanceLeasesPortfolioSegmentMember2022-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMemberprk:OtherCollateralMember2022-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMemberus-gaap:CollateralPledgedMember2022-03-310000805676us-gaap:RealEstateMember2022-03-310000805676prk:BusinessAssetsMember2022-03-310000805676prk:OtherCollateralMember2022-03-310000805676us-gaap:RealEstateMemberprk:CommercialFinancialAndAgriculturalMember2021-12-310000805676prk:BusinessAssetsMemberprk:CommercialFinancialAndAgriculturalMember2021-12-310000805676prk:CommercialFinancialAndAgriculturalMemberprk:OtherCollateralMember2021-12-310000805676prk:CommercialFinancialAndAgriculturalMemberus-gaap:CollateralPledgedMember2021-12-310000805676us-gaap:RealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000805676prk:BusinessAssetsMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMemberprk:OtherCollateralMember2021-12-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:CollateralPledgedMember2021-12-310000805676us-gaap:RealEstateMemberprk:ConstructionRealEstateCommercialDomain2021-12-310000805676prk:BusinessAssetsMemberprk:ConstructionRealEstateCommercialDomain2021-12-310000805676prk:OtherCollateralMemberprk:ConstructionRealEstateCommercialDomain2021-12-310000805676us-gaap:CollateralPledgedMemberprk:ConstructionRealEstateCommercialDomain2021-12-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:RealEstateMember2021-12-310000805676prk:ResidentialRealEstateCommercialMemberprk:BusinessAssetsMember2021-12-310000805676prk:ResidentialRealEstateCommercialMemberprk:OtherCollateralMember2021-12-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:CollateralPledgedMember2021-12-310000805676us-gaap:RealEstateMemberprk:ResidentialRealEstateMortgageMember2021-12-310000805676prk:ResidentialRealEstateMortgageMemberprk:BusinessAssetsMember2021-12-310000805676prk:ResidentialRealEstateMortgageMemberprk:OtherCollateralMember2021-12-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:CollateralPledgedMember2021-12-310000805676us-gaap:RealEstateMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2021-12-310000805676prk:BusinessAssetsMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2021-12-310000805676prk:OtherCollateralMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2021-12-310000805676us-gaap:CollateralPledgedMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2021-12-310000805676us-gaap:RealEstateMemberus-gaap:FinanceLeasesPortfolioSegmentMember2021-12-310000805676prk:BusinessAssetsMemberus-gaap:FinanceLeasesPortfolioSegmentMember2021-12-310000805676us-gaap:FinanceLeasesPortfolioSegmentMemberprk:OtherCollateralMember2021-12-310000805676us-gaap:FinanceLeasesPortfolioSegmentMemberus-gaap:CollateralPledgedMember2021-12-310000805676us-gaap:RealEstateMember2021-12-310000805676prk:BusinessAssetsMember2021-12-310000805676prk:OtherCollateralMember2021-12-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2022-01-012022-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2021-01-012021-03-310000805676prk:PPPLoansReceivableMember2022-01-012022-03-310000805676prk:PPPLoansReceivableMember2021-01-012021-03-310000805676us-gaap:BankOverdraftsMember2022-01-012022-03-310000805676us-gaap:BankOverdraftsMember2021-01-012021-03-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMember2022-01-012022-03-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMember2021-01-012021-03-310000805676prk:ConstructionRealEstateCommercialDomain2022-01-012022-03-310000805676prk:ConstructionRealEstateCommercialDomain2021-01-012021-03-310000805676prk:ConstructionRealEstateRetailMember2022-01-012022-03-310000805676prk:ConstructionRealEstateRetailMember2021-01-012021-03-310000805676prk:ResidentialRealEstateCommercialMember2022-01-012022-03-310000805676prk:ResidentialRealEstateCommercialMember2021-01-012021-03-310000805676prk:ResidentialRealEstateMortgageMember2022-01-012022-03-310000805676prk:ResidentialRealEstateMortgageMember2021-01-012021-03-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMember2022-01-012022-03-310000805676prk:ResidentialRealEstateHomeEquityLineOfCreditMember2021-01-012021-03-310000805676prk:ResidentialRealEstateInstallmentMember2022-01-012022-03-310000805676prk:ResidentialRealEstateInstallmentMember2021-01-012021-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMember2022-01-012022-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMember2021-01-012021-03-310000805676prk:GFSCLoansMember2022-01-012022-03-310000805676prk:GFSCLoansMember2021-01-012021-03-310000805676prk:CheckLoansMember2022-01-012022-03-310000805676prk:CheckLoansMember2021-01-012021-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMember2022-01-012022-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMember2021-01-012021-03-310000805676us-gaap:FinancialAssetPastDueMemberprk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2022-03-310000805676us-gaap:FinancialAssetNotPastDueMemberprk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2022-03-310000805676prk:PPPLoansReceivableMemberus-gaap:FinancialAssetPastDueMember2022-03-310000805676prk:PPPLoansReceivableMemberus-gaap:FinancialAssetNotPastDueMember2022-03-310000805676us-gaap:BankOverdraftsMemberus-gaap:FinancialAssetNotPastDueMember2022-03-310000805676us-gaap:BankOverdraftsMember2022-03-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2022-03-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2022-03-310000805676us-gaap:FinancialAssetNotPastDueMemberprk:ConstructionRealEstateCommercialDomain2022-03-310000805676prk:ConstructionRealEstateRetailMemberus-gaap:FinancialAssetPastDueMember2022-03-310000805676prk:ConstructionRealEstateRetailMemberus-gaap:FinancialAssetNotPastDueMember2022-03-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:FinancialAssetPastDueMember2022-03-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:FinancialAssetNotPastDueMember2022-03-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:FinancialAssetPastDueMember2022-03-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:FinancialAssetNotPastDueMember2022-03-310000805676us-gaap:FinancialAssetPastDueMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2022-03-310000805676us-gaap:FinancialAssetNotPastDueMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2022-03-310000805676prk:ResidentialRealEstateInstallmentMemberus-gaap:FinancialAssetPastDueMember2022-03-310000805676prk:ResidentialRealEstateInstallmentMemberus-gaap:FinancialAssetNotPastDueMember2022-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberus-gaap:FinancialAssetPastDueMember2022-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberus-gaap:FinancialAssetNotPastDueMember2022-03-310000805676prk:GFSCLoansMemberus-gaap:FinancialAssetPastDueMember2022-03-310000805676prk:GFSCLoansMemberus-gaap:FinancialAssetNotPastDueMember2022-03-310000805676prk:CheckLoansMemberus-gaap:FinancialAssetPastDueMember2022-03-310000805676prk:CheckLoansMemberus-gaap:FinancialAssetNotPastDueMember2022-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2022-03-310000805676us-gaap:FinancialAssetPastDueMember2022-03-310000805676us-gaap:FinancialAssetNotPastDueMember2022-03-310000805676us-gaap:FinancialAssetPastDueMemberprk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2021-12-310000805676us-gaap:FinancialAssetNotPastDueMemberprk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2021-12-310000805676prk:PPPLoansReceivableMemberus-gaap:FinancialAssetPastDueMember2021-12-310000805676prk:PPPLoansReceivableMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000805676us-gaap:BankOverdraftsMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000805676us-gaap:BankOverdraftsMember2021-12-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2021-12-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000805676us-gaap:FinancialAssetNotPastDueMemberprk:ConstructionRealEstateCommercialDomain2021-12-310000805676prk:ConstructionRealEstateRetailMemberus-gaap:FinancialAssetPastDueMember2021-12-310000805676prk:ConstructionRealEstateRetailMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:FinancialAssetPastDueMember2021-12-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:FinancialAssetPastDueMember2021-12-310000805676prk:ResidentialRealEstateMortgageMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000805676us-gaap:FinancialAssetPastDueMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2021-12-310000805676us-gaap:FinancialAssetNotPastDueMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2021-12-310000805676prk:ResidentialRealEstateInstallmentMemberus-gaap:FinancialAssetPastDueMember2021-12-310000805676prk:ResidentialRealEstateInstallmentMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberus-gaap:FinancialAssetPastDueMember2021-12-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000805676prk:GFSCLoansMemberus-gaap:FinancialAssetPastDueMember2021-12-310000805676prk:GFSCLoansMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000805676prk:CheckLoansMemberus-gaap:FinancialAssetPastDueMember2021-12-310000805676prk:CheckLoansMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000805676us-gaap:FinanceLeasesPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2021-12-310000805676us-gaap:FinanceLeasesPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000805676us-gaap:FinancialAssetPastDueMember2021-12-310000805676us-gaap:FinancialAssetNotPastDueMember2021-12-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberus-gaap:PassMember2022-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberprk:FiveRatedMember2022-03-310000805676prk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMemberprk:SixRatedMember2022-03-310000805676prk:ImpairedMemberprk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2022-03-310000805676prk:PPPLoansReceivableMemberus-gaap:PassMember2022-03-310000805676prk:PPPLoansReceivableMemberprk:FiveRatedMember2022-03-310000805676prk:PPPLoansReceivableMemberprk:SixRatedMember2022-03-310000805676prk:ImpairedMemberprk:PPPLoansReceivableMember2022-03-310000805676us-gaap:PassMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMemberprk:FiveRatedMember2022-03-310000805676prk:SixRatedMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000805676prk:ImpairedMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000805676us-gaap:PassMemberprk:ConstructionRealEstateCommercialDomain2022-03-310000805676prk:FiveRatedMemberprk:ConstructionRealEstateCommercialDomain2022-03-310000805676prk:SixRatedMemberprk:ConstructionRealEstateCommercialDomain2022-03-310000805676prk:ImpairedMemberprk:ConstructionRealEstateCommercialDomain2022-03-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:PassMember2022-03-310000805676prk:ResidentialRealEstateCommercialMemberprk:FiveRatedMember2022-03-310000805676prk:ResidentialRealEstateCommercialMemberprk:SixRatedMember2022-03-310000805676prk:ResidentialRealEstateCommercialMemberprk:ImpairedMember2022-03-310000805676us-gaap:PassMemberus-gaap:FinanceLeasesPortfolioSegmentMember2022-03-310000805676prk:FiveRatedMemberus-gaap:FinanceLeasesPortfolioSegmentMember2022-03-310000805676prk:SixRatedMemberus-gaap:FinanceLeasesPortfolioSegmentMember2022-03-310000805676prk:ImpairedMemberus-gaap:FinanceLeasesPortfolioSegmentMember2022-03-310000805676us-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310000805676us-gaap:CommercialPortfolioSegmentMemberprk:FiveRatedMember2022-03-310000805676us-gaap:CommercialPortfolioSegmentMemberprk:SixRatedMember2022-03-310000805676prk:ImpairedMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310000805676us-gaap:CommercialPortfolioSegmentMember2022-03-310000805676us-gaap:PassMemberprk:CommercialFinancialAndAgriculturalMember2021-12-310000805676prk:CommercialFinancialAndAgriculturalMemberprk:FiveRatedMember2021-12-310000805676prk:SixRatedMemberprk:CommercialFinancialAndAgriculturalMember2021-12-310000805676prk:ImpairedMemberprk:CommercialFinancialAndAgriculturalMember2021-12-310000805676prk:CommercialFinancialAndAgriculturalMember2021-12-310000805676prk:PPPLoansReceivableMemberus-gaap:PassMember2021-12-310000805676prk:PPPLoansReceivableMemberprk:FiveRatedMember2021-12-310000805676prk:PPPLoansReceivableMemberprk:SixRatedMember2021-12-310000805676prk:ImpairedMemberprk:PPPLoansReceivableMember2021-12-310000805676us-gaap:PassMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMemberprk:FiveRatedMember2021-12-310000805676prk:SixRatedMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000805676prk:ImpairedMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000805676us-gaap:PassMemberprk:ConstructionRealEstateCommercialDomain2021-12-310000805676prk:FiveRatedMemberprk:ConstructionRealEstateCommercialDomain2021-12-310000805676prk:SixRatedMemberprk:ConstructionRealEstateCommercialDomain2021-12-310000805676prk:ImpairedMemberprk:ConstructionRealEstateCommercialDomain2021-12-310000805676prk:ResidentialRealEstateCommercialMemberus-gaap:PassMember2021-12-310000805676prk:ResidentialRealEstateCommercialMemberprk:FiveRatedMember2021-12-310000805676prk:ResidentialRealEstateCommercialMemberprk:SixRatedMember2021-12-310000805676prk:ResidentialRealEstateCommercialMemberprk:ImpairedMember2021-12-310000805676us-gaap:PassMemberus-gaap:FinanceLeasesPortfolioSegmentMember2021-12-310000805676prk:FiveRatedMemberus-gaap:FinanceLeasesPortfolioSegmentMember2021-12-310000805676prk:SixRatedMemberus-gaap:FinanceLeasesPortfolioSegmentMember2021-12-310000805676prk:ImpairedMemberus-gaap:FinanceLeasesPortfolioSegmentMember2021-12-310000805676us-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000805676us-gaap:CommercialPortfolioSegmentMemberprk:FiveRatedMember2021-12-310000805676us-gaap:CommercialPortfolioSegmentMemberprk:SixRatedMember2021-12-310000805676prk:ImpairedMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000805676us-gaap:CommercialPortfolioSegmentMember2021-12-310000805676us-gaap:PerformingFinancingReceivableMemberus-gaap:BankOverdraftsMember2022-03-310000805676prk:ConstructionRealEstateRetailMemberus-gaap:PerformingFinancingReceivableMember2022-03-310000805676us-gaap:PerformingFinancingReceivableMemberprk:ResidentialRealEstateMortgageMember2022-03-310000805676us-gaap:PerformingFinancingReceivableMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2022-03-310000805676us-gaap:PerformingFinancingReceivableMemberprk:ResidentialRealEstateInstallmentMember2022-03-310000805676us-gaap:PerformingFinancingReceivableMemberprk:ConsumerLessGFSCAndCheckLoansMember2022-03-310000805676us-gaap:PerformingFinancingReceivableMemberprk:GFSCLoansMember2022-03-310000805676us-gaap:PerformingFinancingReceivableMemberprk:CheckLoansMember2022-03-310000805676us-gaap:PerformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2022-03-310000805676us-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2022-03-310000805676us-gaap:ConsumerPortfolioSegmentMember2022-03-310000805676us-gaap:PerformingFinancingReceivableMemberus-gaap:BankOverdraftsMember2021-12-310000805676prk:ConstructionRealEstateRetailMemberus-gaap:PerformingFinancingReceivableMember2021-12-310000805676us-gaap:PerformingFinancingReceivableMemberprk:ResidentialRealEstateMortgageMember2021-12-310000805676us-gaap:PerformingFinancingReceivableMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2021-12-310000805676us-gaap:PerformingFinancingReceivableMemberprk:ResidentialRealEstateInstallmentMember2021-12-310000805676us-gaap:PerformingFinancingReceivableMemberprk:ConsumerLessGFSCAndCheckLoansMember2021-12-310000805676us-gaap:PerformingFinancingReceivableMemberprk:GFSCLoansMember2021-12-310000805676us-gaap:PerformingFinancingReceivableMemberprk:CheckLoansMember2021-12-310000805676us-gaap:PerformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000805676us-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000805676us-gaap:ConsumerPortfolioSegmentMember2021-12-3100008056762018-07-010000805676us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2018-07-0100008056762019-04-010000805676us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2019-04-010000805676srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2021-01-012021-03-310000805676us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2022-03-310000805676us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2021-12-310000805676us-gaap:ConsumerPortfolioSegmentMember2022-01-012022-03-310000805676us-gaap:ConsumerPortfolioSegmentMember2021-01-012021-03-31prk:contracts0000805676prk:NonaccruingFinancingReceivableModificationsMemberprk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2022-01-012022-03-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMemberprk:AccruingFinancingReceivableModificationsMember2022-01-012022-03-310000805676prk:NonaccruingFinancingReceivableModificationsMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-01-012022-03-310000805676prk:ConstructionRealEstateRetailMemberprk:AccruingFinancingReceivableModificationsMember2022-01-012022-03-310000805676prk:ResidentialRealEstateCommercialMemberprk:NonaccruingFinancingReceivableModificationsMember2022-01-012022-03-310000805676prk:ResidentialRealEstateMortgageMemberprk:AccruingFinancingReceivableModificationsMember2022-01-012022-03-310000805676prk:NonaccruingFinancingReceivableModificationsMemberprk:ResidentialRealEstateMortgageMember2022-01-012022-03-310000805676prk:AccruingFinancingReceivableModificationsMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2022-01-012022-03-310000805676prk:NonaccruingFinancingReceivableModificationsMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2022-01-012022-03-310000805676prk:ResidentialRealEstateInstallmentMember2022-01-012022-03-310000805676prk:AccruingFinancingReceivableModificationsMemberprk:ResidentialRealEstateInstallmentMember2022-01-012022-03-310000805676prk:NonaccruingFinancingReceivableModificationsMemberprk:ResidentialRealEstateInstallmentMember2022-01-012022-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberprk:AccruingFinancingReceivableModificationsMember2022-01-012022-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberprk:NonaccruingFinancingReceivableModificationsMember2022-01-012022-03-310000805676prk:GFSCLoansMember2022-01-012022-03-310000805676prk:CheckLoansMember2022-01-012022-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMember2022-01-012022-03-310000805676prk:AccruingFinancingReceivableModificationsMember2022-01-012022-03-310000805676prk:NonaccruingFinancingReceivableModificationsMember2022-01-012022-03-310000805676prk:NonaccruingFinancingReceivableModificationsMemberprk:CommercialFinancialAgriculturalLessPPPAndOverdraftsMember2021-01-012021-03-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMemberprk:AccruingFinancingReceivableModificationsMember2021-01-012021-03-310000805676prk:NonaccruingFinancingReceivableModificationsMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-01-012021-03-310000805676prk:ConstructionRealEstateRetailMemberprk:AccruingFinancingReceivableModificationsMember2021-01-012021-03-310000805676prk:ResidentialRealEstateMortgageMemberprk:AccruingFinancingReceivableModificationsMember2021-01-012021-03-310000805676prk:NonaccruingFinancingReceivableModificationsMemberprk:ResidentialRealEstateMortgageMember2021-01-012021-03-310000805676prk:AccruingFinancingReceivableModificationsMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2021-01-012021-03-310000805676prk:NonaccruingFinancingReceivableModificationsMemberprk:ResidentialRealEstateHomeEquityLineOfCreditMember2021-01-012021-03-310000805676prk:ResidentialRealEstateInstallmentMember2021-01-012021-03-310000805676prk:AccruingFinancingReceivableModificationsMemberprk:ResidentialRealEstateInstallmentMember2021-01-012021-03-310000805676prk:NonaccruingFinancingReceivableModificationsMemberprk:ResidentialRealEstateInstallmentMember2021-01-012021-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberprk:AccruingFinancingReceivableModificationsMember2021-01-012021-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMemberprk:NonaccruingFinancingReceivableModificationsMember2021-01-012021-03-310000805676prk:GFSCLoansMember2021-01-012021-03-310000805676prk:CheckLoansMember2021-01-012021-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMember2021-01-012021-03-310000805676prk:AccruingFinancingReceivableModificationsMember2021-01-012021-03-310000805676prk:NonaccruingFinancingReceivableModificationsMember2021-01-012021-03-310000805676prk:ConstructionRealEstateMortgageMember2022-01-012022-03-310000805676prk:ConstructionRealEstateMortgageMember2021-01-012021-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMember2022-01-012022-03-310000805676prk:ConsumerLessGFSCAndCheckLoansMember2021-01-012021-03-310000805676srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-12-310000805676prk:HotelsRestaurantsStripShoppingTotalMember2022-01-012022-03-310000805676prk:HotelsRestaurantsStripShoppingTotalMember2021-01-012021-12-310000805676sic:Z70002022-03-310000805676sic:Z70002022-01-012022-03-310000805676sic:Z70002021-12-310000805676sic:Z70002021-01-012021-12-310000805676naics:ZZ7221102022-03-310000805676naics:ZZ7221102022-01-012022-03-310000805676naics:ZZ7221102021-12-310000805676naics:ZZ7221102021-01-012021-12-310000805676sic:Z53312022-03-310000805676sic:Z53312022-01-012022-03-310000805676sic:Z53312021-12-310000805676sic:Z53312021-01-012021-12-310000805676prk:HotelsRestaurantsStripShoppingTotalMember2022-03-310000805676prk:HotelsRestaurantsStripShoppingTotalMember2021-12-310000805676us-gaap:FinancialAssetOriginatedMembersic:Z70002022-01-012022-03-310000805676us-gaap:FinancialAssetOriginatedMembersic:Z70002021-01-012021-12-310000805676prk:CommercialFinancialAndAgriculturalMember2021-12-310000805676prk:ConstructionRealEstateMember2021-12-310000805676us-gaap:ResidentialPortfolioSegmentMember2021-12-310000805676us-gaap:ConsumerPortfolioSegmentMember2021-12-310000805676prk:CommercialFinancialAndAgriculturalMember2022-01-012022-03-310000805676prk:ConstructionRealEstateMember2022-01-012022-03-310000805676us-gaap:ResidentialPortfolioSegmentMember2022-01-012022-03-310000805676us-gaap:ConsumerPortfolioSegmentMember2022-01-012022-03-310000805676prk:CommercialFinancialAndAgriculturalMember2022-03-310000805676prk:ConstructionRealEstateMember2022-03-310000805676us-gaap:ResidentialPortfolioSegmentMember2022-03-310000805676us-gaap:ConsumerPortfolioSegmentMember2022-03-310000805676prk:CommercialFinancialAndAgriculturalMember2020-12-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMember2020-12-310000805676prk:ConstructionRealEstateMember2020-12-310000805676us-gaap:ResidentialPortfolioSegmentMember2020-12-310000805676us-gaap:ConsumerPortfolioSegmentMember2020-12-310000805676us-gaap:FinanceLeasesPortfolioSegmentMember2020-12-310000805676prk:CommercialFinancialAndAgriculturalMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-12-310000805676srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-12-310000805676prk:ConstructionRealEstateMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-12-310000805676srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ResidentialPortfolioSegmentMember2020-12-310000805676us-gaap:ConsumerPortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-12-310000805676srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:FinanceLeasesPortfolioSegmentMember2020-12-310000805676prk:CommercialFinancialAndAgriculturalMember2021-01-012021-03-310000805676prk:ConstructionRealEstateMember2021-01-012021-03-310000805676us-gaap:ResidentialPortfolioSegmentMember2021-01-012021-03-310000805676us-gaap:ConsumerPortfolioSegmentMember2021-01-012021-03-310000805676prk:CommercialFinancialAndAgriculturalMember2021-03-310000805676us-gaap:CommercialRealEstatePortfolioSegmentMember2021-03-310000805676prk:ConstructionRealEstateMember2021-03-310000805676us-gaap:ResidentialPortfolioSegmentMember2021-03-310000805676us-gaap:ConsumerPortfolioSegmentMember2021-03-310000805676us-gaap:FinanceLeasesPortfolioSegmentMember2021-03-310000805676us-gaap:RealEstateLoanMember2022-03-310000805676us-gaap:RealEstateLoanMember2021-12-310000805676us-gaap:CoreDepositsMember2022-03-310000805676us-gaap:CoreDepositsMember2021-12-310000805676us-gaap:TradeNamesMember2022-03-310000805676us-gaap:TradeNamesMember2021-12-310000805676us-gaap:ResidentialRealEstateMember2022-03-310000805676us-gaap:ResidentialRealEstateMember2021-12-310000805676us-gaap:OtherAssetsMember2022-03-310000805676us-gaap:OtherLiabilitiesMember2022-03-310000805676us-gaap:OtherAssetsMember2021-12-310000805676us-gaap:OtherLiabilitiesMember2021-12-310000805676us-gaap:SubsequentEventMember2022-07-010000805676us-gaap:SubsequentEventMember2022-06-300000805676us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2022-03-310000805676us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2021-12-310000805676us-gaap:MaturityOvernightMember2022-03-310000805676us-gaap:MaturityUpTo30DaysMember2022-03-310000805676us-gaap:Maturity30To90DaysMember2022-03-310000805676us-gaap:MaturityOver90DaysMember2022-03-310000805676us-gaap:MaturityOvernightMember2021-12-310000805676us-gaap:MaturityUpTo30DaysMember2021-12-310000805676us-gaap:Maturity30To90DaysMember2021-12-310000805676us-gaap:MaturityOver90DaysMember2021-12-310000805676prk:BorrowingDerivativeMember2022-03-310000805676prk:BorrowingDerivativeMember2021-12-310000805676prk:LoanDerivativeMember2022-03-310000805676prk:LoanDerivativeMember2021-12-310000805676prk:BorrowingDerivativeMember2022-01-012022-03-310000805676prk:LoanDerivativeMember2022-01-012022-03-310000805676prk:BorrowingDerivativeMember2021-01-012021-12-310000805676prk:LoanDerivativeMember2021-01-012021-12-310000805676us-gaap:OtherAssetsMemberprk:BorrowingDerivativeMember2022-03-310000805676us-gaap:OtherAssetsMemberprk:BorrowingDerivativeMember2022-01-012022-03-310000805676us-gaap:OtherAssetsMemberprk:BorrowingDerivativeMember2021-12-310000805676us-gaap:OtherAssetsMemberprk:BorrowingDerivativeMember2021-01-012021-12-310000805676prk:LoanDerivativeMemberus-gaap:OtherAssetsMember2022-03-310000805676prk:LoanDerivativeMemberus-gaap:OtherAssetsMember2022-01-012022-03-310000805676prk:LoanDerivativeMemberus-gaap:OtherAssetsMember2021-12-310000805676prk:LoanDerivativeMemberus-gaap:OtherAssetsMember2021-01-012021-12-310000805676prk:LoanDerivativeMemberus-gaap:OtherAssetsMemberus-gaap:IndividuallyImmaterialCounterpartiesMember2022-03-310000805676prk:LoanDerivativeMemberus-gaap:OtherAssetsMemberus-gaap:IndividuallyImmaterialCounterpartiesMember2022-01-012022-03-310000805676prk:LoanDerivativeMemberus-gaap:OtherAssetsMemberus-gaap:IndividuallyImmaterialCounterpartiesMember2021-12-310000805676prk:LoanDerivativeMemberus-gaap:OtherAssetsMemberus-gaap:IndividuallyImmaterialCounterpartiesMember2021-01-012021-12-310000805676us-gaap:InterestRateSwapMemberus-gaap:OtherAssetsMember2022-03-310000805676us-gaap:InterestRateSwapMemberus-gaap:OtherAssetsMember2022-01-012022-03-310000805676us-gaap:InterestRateSwapMemberus-gaap:OtherAssetsMember2021-12-310000805676us-gaap:InterestRateSwapMemberus-gaap:OtherAssetsMember2021-01-012021-12-310000805676us-gaap:OtherLiabilitiesMemberprk:BorrowingDerivativeMember2022-03-310000805676us-gaap:OtherLiabilitiesMemberprk:BorrowingDerivativeMember2022-01-012022-03-310000805676us-gaap:OtherLiabilitiesMemberprk:BorrowingDerivativeMember2021-12-310000805676us-gaap:OtherLiabilitiesMemberprk:BorrowingDerivativeMember2021-01-012021-12-310000805676prk:LoanDerivativeMemberus-gaap:OtherLiabilitiesMember2022-03-310000805676prk:LoanDerivativeMemberus-gaap:OtherLiabilitiesMember2022-01-012022-03-310000805676prk:LoanDerivativeMemberus-gaap:OtherLiabilitiesMember2021-12-310000805676prk:LoanDerivativeMemberus-gaap:OtherLiabilitiesMember2021-01-012021-12-310000805676prk:LoanDerivativeMemberus-gaap:OtherLiabilitiesMemberus-gaap:IndividuallyImmaterialCounterpartiesMember2022-03-310000805676prk:LoanDerivativeMemberus-gaap:OtherLiabilitiesMemberus-gaap:IndividuallyImmaterialCounterpartiesMember2022-01-012022-03-310000805676prk:LoanDerivativeMemberus-gaap:OtherLiabilitiesMemberus-gaap:IndividuallyImmaterialCounterpartiesMember2021-12-310000805676prk:LoanDerivativeMemberus-gaap:OtherLiabilitiesMemberus-gaap:IndividuallyImmaterialCounterpartiesMember2021-01-012021-12-310000805676us-gaap:InterestRateSwapMemberus-gaap:OtherLiabilitiesMember2022-03-310000805676us-gaap:InterestRateSwapMemberus-gaap:OtherLiabilitiesMember2022-01-012022-03-310000805676us-gaap:InterestRateSwapMemberus-gaap:OtherLiabilitiesMember2021-12-310000805676us-gaap:InterestRateSwapMemberus-gaap:OtherLiabilitiesMember2021-01-012021-12-310000805676prk:InterestRateLockCommitmentMember2022-03-310000805676prk:InterestRateLockCommitmentMember2021-12-310000805676us-gaap:SwapMember2022-03-310000805676us-gaap:SwapMember2021-12-310000805676us-gaap:PerformanceSharesMemberus-gaap:CommonStockMember2022-01-012022-03-310000805676us-gaap:PerformanceSharesMemberus-gaap:CommonStockMember2021-01-012021-03-31prk:segments0000805676prk:PnbSegmentMember2022-01-012022-03-310000805676us-gaap:AllOtherSegmentsMember2022-01-012022-03-310000805676prk:PnbSegmentMember2022-03-310000805676us-gaap:AllOtherSegmentsMember2022-03-310000805676prk:PnbSegmentMember2021-01-012021-03-310000805676us-gaap:AllOtherSegmentsMember2021-01-012021-03-310000805676prk:PnbSegmentMember2021-03-310000805676us-gaap:AllOtherSegmentsMember2021-03-310000805676prk:A2017EmployeesLongTermIncentivePlanMember2022-03-310000805676prk:A2017NonEmployeeDirectorsLTIPMember2022-03-310000805676prk:A2017EmployeesLongTermIncentivePlanMemberus-gaap:PerformanceSharesMember2022-01-012022-03-310000805676prk:A2017EmployeesLongTermIncentivePlanMemberus-gaap:PerformanceSharesMember2021-01-012021-03-310000805676prk:A2017EmployeesLongTermIncentivePlanMember2022-01-012022-03-310000805676us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2022-01-012022-03-310000805676us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2021-01-012021-03-310000805676us-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000805676us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000805676us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-03-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-03-310000805676us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberprk:USGovernmentSponsoredEntitiesAssetBackedSecuritiesMember2022-03-310000805676us-gaap:FairValueMeasurementsRecurringMemberprk:USGovernmentSponsoredEntitiesAssetBackedSecuritiesMember2022-03-310000805676us-gaap:FairValueInputsLevel2Memberus-gaap:CollateralizedLoanObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000805676us-gaap:CollateralizedLoanObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000805676us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMember2022-03-310000805676us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2022-03-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EquitySecuritiesMember2022-03-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2022-03-310000805676us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000805676us-gaap:FairValueMeasurementsRecurringMember2022-03-310000805676us-gaap:FairValueInputsLevel2Memberus-gaap:LoansReceivableMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000805676us-gaap:LoansReceivableMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:SwapMember2022-03-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:SwapMember2022-03-310000805676us-gaap:FairValueInputsLevel2Memberus-gaap:SwapMember2022-01-012022-03-310000805676us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310000805676us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberprk:USGovernmentSponsoredEntitiesAssetBackedSecuritiesMember2021-12-310000805676us-gaap:FairValueMeasurementsRecurringMemberprk:USGovernmentSponsoredEntitiesAssetBackedSecuritiesMember2021-12-310000805676us-gaap:FairValueInputsLevel2Memberus-gaap:CollateralizedLoanObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000805676us-gaap:CollateralizedLoanObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000805676us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMember2021-12-310000805676us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2021-12-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EquitySecuritiesMember2021-12-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2021-12-310000805676us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000805676us-gaap:FairValueMeasurementsRecurringMember2021-12-310000805676us-gaap:FairValueInputsLevel2Memberus-gaap:LoansReceivableMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000805676us-gaap:LoansReceivableMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:SwapMember2021-12-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:SwapMember2021-12-310000805676us-gaap:FairValueInputsLevel2Memberus-gaap:SwapMember2021-01-012021-12-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EquitySecuritiesMember2020-12-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:SwapMember2020-12-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:SwapMember2021-01-012021-03-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EquitySecuritiesMember2021-03-310000805676us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:SwapMember2021-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FairValueInputsLevel3Member2022-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialRealEstateMemberus-gaap:FairValueInputsLevel3Member2022-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialRealEstateMember2022-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2022-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMember2022-03-310000805676us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2022-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialRealEstateMemberus-gaap:FairValueInputsLevel3Member2022-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialRealEstateMember2022-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FairValueInputsLevel3Member2021-12-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialRealEstateMemberus-gaap:FairValueInputsLevel3Member2021-12-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialRealEstateMember2021-12-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2021-12-310000805676us-gaap:FairValueMeasurementsNonrecurringMember2021-12-310000805676us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-12-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialRealEstateMemberus-gaap:FairValueInputsLevel3Member2021-12-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialRealEstateMember2021-12-310000805676prk:CommercialReceivablesExcludingCommercialFinancialAndAgriculturalDomain2022-03-310000805676prk:FinancingReceivableNotCollateralDependentDomain2022-03-310000805676prk:CommercialReceivablesExcludingCommercialFinancialAndAgriculturalDomain2021-12-310000805676prk:FinancingReceivableNotCollateralDependentDomain2021-12-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FairValueInputsLevel3Member2022-03-310000805676us-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:CommercialRealEstatePortfolioSegmentMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMember2022-03-310000805676srt:MaximumMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMember2022-03-310000805676srt:WeightedAverageMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMember2022-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialRealEstateMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2022-03-310000805676us-gaap:ResidentialRealEstateMemberus-gaap:MeasurementInputComparabilityAdjustmentMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMember2022-03-310000805676srt:MaximumMemberus-gaap:ResidentialRealEstateMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMember2022-03-310000805676us-gaap:ResidentialRealEstateMembersrt:WeightedAverageMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMember2022-03-310000805676us-gaap:ResidentialRealEstateMemberus-gaap:CostApproachValuationTechniqueMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:LoansReceivableMemberus-gaap:MeasurementInputAppraisedValueMember2022-03-310000805676us-gaap:ResidentialRealEstateMembersrt:WeightedAverageMemberus-gaap:CostApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel3Memberus-gaap:LoansReceivableMemberus-gaap:MeasurementInputAppraisedValueMember2022-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialRealEstateMemberus-gaap:RealEstateMember2022-03-310000805676us-gaap:ResidentialRealEstateMemberus-gaap:RealEstateMemberus-gaap:MeasurementInputComparabilityAdjustmentMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2022-03-310000805676srt:MaximumMemberus-gaap:ResidentialRealEstateMemberus-gaap:RealEstateMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2022-03-310000805676us-gaap:ResidentialRealEstateMemberus-gaap:RealEstateMembersrt:WeightedAverageMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2022-03-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:LoansReceivableMember2021-12-310000805676us-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:CommercialRealEstatePortfolioSegmentMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMember2021-12-310000805676srt:MaximumMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMember2021-12-310000805676srt:WeightedAverageMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMember2021-12-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialRealEstateMemberus-gaap:LoansReceivableMember2021-12-310000805676us-gaap:ResidentialRealEstateMemberus-gaap:MeasurementInputComparabilityAdjustmentMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMember2021-12-310000805676srt:MaximumMemberus-gaap:ResidentialRealEstateMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMember2021-12-310000805676us-gaap:ResidentialRealEstateMembersrt:WeightedAverageMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:LoansReceivableMemberus-gaap:MarketApproachValuationTechniqueMember2021-12-310000805676us-gaap:ResidentialRealEstateMemberus-gaap:CostApproachValuationTechniqueMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:LoansReceivableMemberus-gaap:MeasurementInputAppraisedValueMember2021-12-310000805676us-gaap:ResidentialRealEstateMembersrt:WeightedAverageMemberus-gaap:CostApproachValuationTechniqueMemberus-gaap:FairValueInputsLevel3Memberus-gaap:LoansReceivableMemberus-gaap:MeasurementInputAppraisedValueMember2021-12-310000805676us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialRealEstateMemberus-gaap:RealEstateMember2021-12-310000805676us-gaap:ResidentialRealEstateMemberus-gaap:RealEstateMemberus-gaap:MeasurementInputComparabilityAdjustmentMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2021-12-310000805676srt:MaximumMemberus-gaap:ResidentialRealEstateMemberus-gaap:RealEstateMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2021-12-310000805676us-gaap:ResidentialRealEstateMemberus-gaap:RealEstateMembersrt:WeightedAverageMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2021-12-310000805676us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2022-03-310000805676us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2021-12-310000805676us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-03-310000805676us-gaap:FairValueInputsLevel1Member2022-03-310000805676us-gaap:FairValueInputsLevel2Member2022-03-310000805676us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:EquitySecuritiesMember2022-03-310000805676us-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMember2022-03-310000805676us-gaap:FairValueInputsLevel3Memberus-gaap:EquitySecuritiesMember2022-03-310000805676us-gaap:EquitySecuritiesMember2022-03-310000805676us-gaap:FairValueInputsLevel3Member2022-03-310000805676us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-03-310000805676us-gaap:LoansReceivableMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-03-310000805676us-gaap:LoansReceivableMemberus-gaap:FairValueInputsLevel1Member2022-03-310000805676us-gaap:FairValueInputsLevel2Memberus-gaap:LoansReceivableMember2022-03-310000805676us-gaap:LoansReceivableMemberus-gaap:FairValueInputsLevel3Member2022-03-310000805676us-gaap:LoansReceivableMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-03-310000805676us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:SwapMember2022-03-310000805676us-gaap:FairValueInputsLevel3Memberus-gaap:SwapMember2022-03-310000805676us-gaap:LoansReceivableMember2022-03-310000805676us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310000805676us-gaap:FairValueInputsLevel1Member2021-12-310000805676us-gaap:FairValueInputsLevel2Member2021-12-310000805676us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:EquitySecuritiesMember2021-12-310000805676us-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMember2021-12-310000805676us-gaap:FairValueInputsLevel3Memberus-gaap:EquitySecuritiesMember2021-12-310000805676us-gaap:EquitySecuritiesMember2021-12-310000805676us-gaap:FairValueInputsLevel3Member2021-12-310000805676us-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000805676us-gaap:LoansReceivableMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310000805676us-gaap:LoansReceivableMemberus-gaap:FairValueInputsLevel1Member2021-12-310000805676us-gaap:FairValueInputsLevel2Memberus-gaap:LoansReceivableMember2021-12-310000805676us-gaap:LoansReceivableMemberus-gaap:FairValueInputsLevel3Member2021-12-310000805676us-gaap:LoansReceivableMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000805676us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:SwapMember2021-12-310000805676us-gaap:FairValueInputsLevel3Memberus-gaap:SwapMember2021-12-310000805676us-gaap:LoansReceivableMember2021-12-310000805676prk:WithinScopeDomain2022-01-012022-03-310000805676prk:OutofScopeDomain2022-01-012022-03-310000805676prk:WithinScopeDomain2021-01-012021-03-310000805676prk:OutofScopeDomain2021-01-012021-03-31

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, 2022
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: 16,249,306 Common Shares, no par value per share, outstanding at May 2, 2022.




PARK NATIONAL CORPORATION
 
CONTENTS
 Page
PART I.   FINANCIAL INFORMATION 
  
Item 1.  Financial Statements 
  
  
  
  
  
  
  
  
  
  
90 
  
  
  
  
  
  
  
  

3


Glossary of Abbreviations and Acronyms

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

AFSAvailable-for-saleLIBORLondon Inter-Bank Offered Rate
ACLAllowance for credit lossesMSRsMortgage servicing rights
AllowanceAllowance for credit lossesNAVNet asset value
AOCIAccumulated other comprehensive (loss) incomeNewDominionNewDominion Bank
ASCAccounting Standards CodificationOCIOther comprehensive (loss) income
ASUAccounting Standards UpdateOREOOther real estate owned
AUCLAllowance for unfunded credit lossesOWSOne-way sell
CARES ActCoronavirus Aid, Relief, and Economic Security ActParkPark National Corporation and its subsidiaries
Carolina AllianceCAB Financial Corporation and its subsidiariesPBRSUsPerformance-based restricted stock units
CECLCurrent expected credit lossPCDPurchased credit deteriorated
COVID-19Novel coronavirusPDProbability of default
DCFDiscounted cash flowPNBThe Park National Bank
FASBFinancial Accounting Standards BoardPPPCARES Act Paycheck Protection Program
FHLBFederal Home Loan BankROURight-of-use
FRBFederal Reserve BankSARsStock appreciation rights
GDPGross domestic productSBASmall Business Administration
GFSCGuardian Financial Services CompanySECU.S. Securities and Exchange Commission
HPIHome price indexSEPHSE Property Holdings, LLC
HTMHeld-to-maturityTBRSUsTime-based restricted stock units
IRLCInterest rate lock commitmentTDRsTroubled debt restructurings
LDALoss driver analysisU.S. GAAPUnited States Generally Accepted Accounting Principles
LGDLoss given defaultU.S.United States

4

PARK NATIONAL CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheets (Unaudited)
(in thousands, except share and per share data)    
                
March 31,
2022
December 31, 2021
Assets:  
Cash and due from banks$159,858 $144,507 
Money market instruments87,034 74,673 
Cash and cash equivalents246,892 219,180 
Investment securities:  
Debt securities available-for-sale, at fair value (amortized cost of $1,800,956 and $1,727,363 at March 31, 2022 and December 31, 2021, respectively, and no allowance for credit losses at March 31, 2022 and December 31, 2021)
1,757,147 1,754,140 
Other investment securities75,127 61,268 
Total investment securities1,832,274 1,815,408 
Loans6,821,606 6,871,122 
Allowance for credit losses(78,861)(83,197)
Net loans6,742,745 6,787,925 
Bank owned life insurance224,100 215,792 
Prepaid assets147,486 144,124 
Goodwill159,595 159,595 
Other intangible assets7,060 7,462 
Premises and equipment, net87,423 89,008 
Affordable housing tax credit investments56,731 58,711 
OREO760 775 
Accrued interest receivable23,054 23,413 
Operating lease right-of-use asset12,797 13,446 
Mortgage loan servicing rights15,704 15,264 
Other19,731 10,151 
Total assets$9,576,352 $9,560,254 

5

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

March 31,
2022
December 31, 2021
Liabilities and Shareholders' Equity:  
Deposits:  
Non-interest bearing$3,055,614 $3,066,419 
Interest bearing4,940,704 4,838,109 
Total deposits7,996,318 7,904,528 
Short-term borrowings205,927 238,786 
Subordinated notes188,322 188,210 
Unfunded commitments in affordable housing tax credit investments21,232 28,484 
Operating lease liability13,568 14,339 
Allowance for credit losses on off-balance sheet commitments3,771 4,282 
Accrued interest payable1,147 3,116 
Other69,701 67,750 
Total liabilities$8,499,986 $8,449,495 
Shareholders' equity:  
Preferred shares (200,000 shares authorized; 0 shares issued)
$ $ 
Common shares (No par value; 20,000,000 shares authorized; 17,623,106 shares issued at March 31, 2022 and 17,623,118 shares issued at December 31, 2021)
459,271 461,800 
Retained earnings797,033 776,294 
Treasury shares (1,373,798 shares at March 31, 2022 and 1,403,555 shares at December 31, 2021)
(139,469)(142,490)
Accumulated other comprehensive (loss) income, net of taxes(40,469)15,155 
Total shareholders' equity1,076,366 1,110,759 
Total liabilities and shareholders’ equity$9,576,352 $9,560,254 

SEE ACCOMPANYING NOTES TO UNAUDITED CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
6

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

Three Months Ended
March 31,
 20222021
Interest and dividend income:  
Interest and fees on loans$72,416 $78,737 
Interest and dividends on:  
Debt securities - taxable6,130 4,256 
Debt securities - tax-exempt2,447 2,037 
Other interest income153 143 
Total interest and dividend income81,146 85,173 
Interest expense:  
Interest on deposits:  
Demand and savings deposits351 386 
Time deposits720 1,584 
Interest on borrowings:  
Short-term borrowings244 183 
Long-term debt2,145 2,286 
Total interest expense3,460 4,439 
Net interest income77,686 80,734 
Recovery of credit losses(4,605)(4,855)
Net interest income after recovery of credit losses$82,291 $85,589 
Other income:  
Income from fiduciary activities$8,797 $8,173 
Service charges on deposit accounts2,074 2,054 
Other service income4,819 9,617 
Debit card fee income6,126 6,086 
Bank owned life insurance income1,175 1,165 
ATM fees532 530 
Loss on sale of OREO, net (33)
Gain on equity securities, net2,353 1,810 
Other components of net periodic pension benefit income3,027 2,038 
Miscellaneous2,753 2,649 
Total other income$31,656 $34,089 
 

7

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

Three Months Ended
March 31,
 20222021
Other expense:  
Salaries$30,521 $29,896 
Employee benefits10,499 10,201 
Occupancy expense3,214 3,640 
Furniture and equipment expense2,937 2,610 
Data processing fees7,504 7,712 
Professional fees and services5,858 5,664 
Marketing1,317 1,491 
Insurance1,405 1,691 
Communication890 1,122 
State tax expense1,192 1,108 
Amortization of intangible assets402 479 
Miscellaneous1,634 2,251 
Total other expense$67,373 $67,865 
Income before income taxes$46,574 $51,813 
Income taxes7,699 8,982 
Net income$38,875 $42,831 
Earnings per common share:
Basic$2.40 $2.63 
Diluted$2.38 $2.61 
Weighted average common shares outstanding:  
Basic16,219,889 16,314,987 
Diluted16,331,031 16,439,920 
Quarterly cash dividends declared per common share$1.04 $1.03 
Special cash dividends declared per common share$ $0.20 
 
SEE ACCOMPANYING NOTES TO UNAUDITED CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
 


8

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

Three Months Ended
March 31,
 20222021
Net income$38,875 $42,831 
Other comprehensive (loss) income, net of tax:
Unrealized net holding loss on debt securities available-for-sale, net of income tax effect of $(14,823) and $(3,614) for the three months ended March 31, 2022 and 2021, respectively
(55,763)(13,597)
Unrealized gain on cash flow hedging derivatives, net of income tax effect of $37 and $33 for the three months ended March 31, 2022 and 2021, respectively
139 125 
Other comprehensive loss$(55,624)$(13,472)
Comprehensive (loss) income$(16,749)$29,359 
 
SEE ACCOMPANYING NOTES TO UNAUDITED CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

9

PARK NATIONAL CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Changes in Shareholders' Equity (Unaudited)
(in thousands, except share and per share data)
  
Preferred
Shares
Common
Shares
Retained
Earnings
Treasury
Shares
Accumulated
Other
Comprehensive
Income (Loss)
Balance at December 31, 2021$ $461,800 $776,294 $(142,490)$15,155 
Net income38,875 
Other comprehensive loss, net of tax(55,624)
Dividends on common shares at $1.04 per share
(17,172)
Cash payment for fractional common shares in dividend reinvestment plan(2)
Issuance of 29,757 common shares under share-based compensation awards, net of 18,658 common shares withheld to pay employee income taxes
(4,508)(964)3,021 
Share-based compensation expense1,981 
Balance at March 31, 2022$ $459,271 $797,033 $(139,469)$(40,469)

Preferred
Shares
Common
Shares
Retained
Earnings
Treasury
Shares
Accumulated
Other
Comprehensive
Income (Loss)
Balance at December 31, 2020$ $460,687 $704,764 $(130,766)$5,571 
   Cumulative change in accounting principle(7,956)
Balance at January 1, 2021$ $460,687 $696,808 $(130,766)$5,571 
Net income  42,831 
Other comprehensive loss, net of tax (13,472)
Dividends on common shares at $1.23 per share
  (20,365)
Cash payment for fractional common shares in dividend reinvestment plan (1) 
Issuance of 21,764 common shares under share-based compensation awards, net of 14,108 common shares withheld to pay employee income taxes
(3,988)(44)2,174 
Share-based compensation expense1,836 
Balance at March 31, 2021$ $458,534 $719,230 $(128,592)$(7,901)

SEE ACCOMPANYING NOTES TO UNAUDITED CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

10

PARK NATIONAL CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Cash Flows (Unaudited)
(in thousands)
Three Months Ended March 31,
 20222021
Operating activities:  
Net income$38,875 $42,831 
Adjustments to reconcile net income to net cash provided by operating activities:  
Recovery of credit losses(4,605)(4,855)
Accretion of loan fees and costs, net(3,772)(6,334)
Depreciation of premises and equipment3,482 3,216 
Amortization of investment securities, net875 354 
Net accretion of purchase accounting adjustments(86)(655)
Gain on equity securities, net(2,353)(1,810)
Loan originations to be sold in secondary market(73,713)(192,382)
Proceeds from sale of loans in secondary market77,189 212,880 
Gain on sale of loans in secondary market(1,941)(6,598)
Share-based compensation expense1,981 1,836 
Loss on sale of OREO, net 33 
Bank owned life insurance income(1,175)(1,165)
Investment in qualified affordable housing tax credits amortization1,980 1,856 
Changes in assets and liabilities:  
Decrease (increase) in prepaid dealer premiums94 (508)
Decrease (increase) in other assets1,253 (13,000)
(Decrease) increase in other liabilities(9,742)10,166 
Net cash provided by operating activities$28,342 $45,865 
Investing activities:  
Proceeds from the redemption/repurchase of Federal Home Loan Bank stock$ $4,283 
Proceeds from sales of investment securities 934 
Proceeds from calls and maturities of:  
Debt securities AFS54,263 58,344 
Purchases of:  
Debt securities AFS(128,731)(131,852)
Equity securities(1,630) 
Net decrease in other investments124 1,102 
Net loan paydowns (originations), portfolio loans52,444 (2,922)
Proceeds from the sale of non-mortgage loans 3,538 
Investment in qualified affordable housing tax credits(7,252)(6,094)
Proceeds from the sale of OREO38 626 
Life insurance death benefits367 674 
Purchases of bank owned life insurance(7,500) 
Purchases of premises and equipment(2,127)(4,114)
Net cash used in investing activities$(40,004)$(75,481)
11

PARK NATIONAL CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Cash Flows (Unaudited) (Continued)
(in thousands)
Three Months Ended March 31,
 20222021
Financing activities:  
Net increase in deposits$257,927 $762,896 
Net increase in off-balance sheet deposits(166,134)(99,034)
Net decrease in short-term borrowings(32,859)(36,845)
Repayment of long-term debt (2,500)
Value of common shares withheld to pay employee income taxes(2,451)(1,858)
Cash dividends paid(17,109)(20,242)
Net cash provided by financing activities$39,374 $602,417 
Increase in cash and cash equivalents27,712 572,801 
Cash and cash equivalents at beginning of year219,180 370,474 
Cash and cash equivalents at end of period$246,892 $943,275 
Supplemental disclosures of cash flow information:  
Cash paid for:  
Interest$5,429 $6,745 
Non-cash items:
Loans transferred to OREO$55 $78 
New commitments in other investment securities$10,000 $ 

SEE ACCOMPANYING NOTES TO UNAUDITED CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

12


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, 2022 are not necessarily indicative of the operating results to be anticipated for the year ending December 31, 2022.
 
The accompanying unaudited consolidated condensed financial statements have been prepared in accordance with the instructions for 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 (loss) 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, 2021 ("Park's 2021 Form 10-K").
 
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 2021 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.

The COVID-19 pandemic has caused significant, unprecedented disruption around the world that has affected daily living and negatively impacted the global economy. Additionally, geopolitical conflict (including the conflict in Ukraine) has added uncertainty to the overall economic environment. The effects of the COVID-19 pandemic and geopolitical conflict may meaningfully impact significant estimates such as the allowance for credit losses, goodwill, mortgage servicing rights, and pension plan obligations and related expenses. Additionally, the COVID-19 pandemic has particularly impacted certain loan concentrations in the hotels and accommodations, restaurants and food service, and strip shopping centers industries.

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

There were no new accounting pronouncements adopted by Park during the three-month period ended March 31, 2022.

Issued But Not Yet Effective Accounting Standards

ASU 2022-02 - Financial Instruments - Credit Losses (Topic 326) Troubled Debt Restructurings and Vintage Disclosures: In March 2022, FASB issued ASU 2022-02 - Financial Instruments - Credit Losses (Topic 326) Troubled Debt Restructuring and Vintage Disclosures. ASU 2022-02 eliminates the accounting guidance for TDRs by creditors in Subtopic 310-40, Receivables - Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. Additionally, the amendments in this ASU require that public business entities disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, Financial Instruments - Credit Losses - Measured at Amortized Cost.

For entities, like Park, that have adopted the amendments in ASU 2016-13, the amendments in this ASU are effective for fiscal years beginning after December 15, 2022, including interim periods within those years. Early adoption is permitted, including adoption in an interim period. An entity may elect to adopt the loan modification guidance and related disclosure enhancements separately from the amendments related to vintage disclosures. The amendments in this ASU should be applied prospectively, except for the amendments related to the recognition and measurement of TDRs which may be applied prospectively, or using a
13

modified retrospective transition method. Management is currently considering the timing of adoption. The adoption of ASU 2022-02 is not expected to have a material impact on the financial statements but will impact disclosure requirements and reduce individually evaluated loan totals.

Note 3 – Investment Securities
 
Investment securities at March 31, 2022 and December 31, 2021, were as follows:

Debt securities AFS (In thousands)Amortized
Cost
Gross
Unrealized
Holding 
Gains
Gross
Unrealized
Holding 
Losses
Fair Value
March 31, 2022:
Obligations of U.S. Treasury and other U.S. Government sponsored entities$39,000 $ $438 $38,562 
Obligations of states and political subdivisions374,101 6,572 9,032 371,641 
U.S. Government sponsored entities' asset-backed securities870,576 1,185 36,959 834,802 
Collateralized loan obligations500,029  5,112 494,917 
Corporate debt securities17,250 125 150 17,225 
Total$1,800,956 $7,882 $51,691 $1,757,147 
 
Debt securities AFS (In thousands)Amortized
Cost
Gross
Unrealized
Holding 
Gains
Gross
Unrealized
Holding 
Losses
Fair Value
December 31, 2021:
Obligations of states and political subdivisions$366,933 $22,682 $24 $389,591 
U.S. Government sponsored entities' asset-backed securities849,114 13,437 8,088 854,463 
Collateralized loan obligations500,066 3 1,395 498,674 
Corporate debt securities11,250 169 7 11,412 
Total$1,727,363 $36,291 $9,514 $1,754,140 

Investment securities in an unrealized loss position at March 31, 2022, were as follows: