Segment Information

9 Months Ended

Sep. 30, 2012

Segment Reporting [Abstract]

Segment Information

Segment Information

The Corporation is a bank holding company headquartered in Newark, Ohio. Prior to February 16, 2012, the operating segments for the Corporation were its two chartered bank subsidiaries, The Park National Bank (headquartered in Newark, Ohio) (“PNB”) and Vision Bank (“VB” or “Vision”) (headquartered in Panama City, Florida). On February 16, 2012, Vision sold certain assets and liabilities to Centennial Bank (see Note 3). Promptly following the closing of the transaction, Vision surrendered its Florida banking charter to the Florida Office of Financial Regulation and became a non-bank Florida corporation (the “Florida Corporation”). The Florida Corporation merged with and into a wholly-owned non-bank subsidiary of Park, SE Property Holdings, LLC (“SEPH”), with SEPH being the surviving entity. The closing of this transaction prompted Park to add SEPH as a reportable segment. Additionally, due to the increased significance of the entity, Guardian Financial Services Company (“GFSC”) was added as a reportable segment during the first quarter of 2012.

Management is required to disclose information about the different types of business activities in which a company engages and also information on the different economic environments in which a company operates, so that the users of the financial statements can better understand the company’s performance, better understand the potential for future cash flows, and make more informed judgments about the company as a whole. Park has three operating segments, as: (i) discrete financial information is available for each operating segment and (ii) the segments are aligned with internal reporting to Park’s Chairman and Chief Executive Officer, who is the chief operating decision maker.

	Operating Results for the three months ended September 30, 2012
(In thousands)	PNB		VB		GFSC		SEPH			All Other			Total
Net interest income (loss)	$	55,366	$	—	$	2,371	$	(888	)	$	1,167		$	58,016
Provision for loan losses	4,125		—		184		12,346			—			16,655
Other income (loss) and security gains	18,150		—		—		(191		)	120			18,079
Other expense	39,609		—		693		4,008			1,373			45,683
Income (loss) before income taxes	$	29,782	$	—	$	1,494	$	(17,433	)	$	(86	)	$	13,757
Income taxes	7,714		—		523		(6,102		)	(360		)	1,775
Net income (loss)	$	22,068	$	—	$	971	$	(11,331	)	$	274		$	11,982
Assets (as of September 30, 2012)	$	6,601,785	$	—	$	49,921	$	116,192		$	(14,960	)	$	6,752,938

	Operating Results for the three months ended September 30, 2011
(In thousands)	PNB		VB			GFSC		SEPH			All Other			Total
Net interest income (loss)	$	58,588	$	6,493		$	2,242	$	(375	)	$	672		$	67,620
Provision for loan losses	9,000		6,913			525		—			—			16,438
Other income (loss) and security gains	20,290		2,014			—		(894		)	82			21,492
Other expense	35,936		7,267			646		240			1,510			45,599
Income (loss) before income taxes	$	33,942	$	(5,673	)	$	1,071	$	(1,509	)	$	(756	)	$	27,075
Income taxes	9,424		(2,008		)	375		(528		)	(569		)	6,694
Net income (loss)	$	24,518	$	(3,665	)	$	696	$	(981	)	$	(187	)	$	20,381
Assets (as of September 30, 2011)	$	6,346,125	$	714,674		$	46,449	$	36,604		$	(48,754	)	$	7,095,098

	Operating Results for the nine months ended September 30, 2012
(In thousands)	PNB		VB		GFSC		SEPH			All Other			Total
Net interest income	$	167,234	$	—	$	6,887	$	597		$	3,706		$	178,424
Provision for loan losses	12,553		—		634		17,044			—			30,231
Other income and security gains	52,511		—		—		22,425			271			75,207
Other expense	114,925		—		2,120		18,172			4,740			139,957
Income (loss) before income taxes	$	92,267	$	—	$	4,133	$	(12,194	)	$	(763	)	$	83,443
Income taxes	25,155		—		1,447		(4,282		)	(1,220		)	21,100
Net income	$	67,112	$	—	$	2,686	$	(7,912	)	$	457		$	62,343

	Operating Results for the nine months ended September 30, 2011
(In thousands)	PNB		VB			GFSC		SEPH			All Other			Total
Net interest income (loss)	$	179,366	$	20,248		$	6,462	$	(599	)	$	1,478		$	206,955
Provision for loan losses	18,950		22,529			1,575		—			—			43,054
Other income (loss) and security gains	73,590		2,352			—		(2,535		)	250			73,657
Other expense	108,572		22,866			1,862		272			5,380			138,952
Income (loss) before income taxes	$	125,434	$	(22,795	)	$	3,025	$	(3,406	)	$	(3,652	)	$	98,606
Income taxes	37,636		(8,065		)	1,060		(1,192		)	(2,363		)	27,076
Net income (loss)	$	87,798	$	(14,730	)	$	1,965	$	(2,214	)	$	(1,289	)	$	71,530

The operating results of the Parent Company in the “All Other” column are used to reconcile the segment totals to the consolidated condensed statements of income for the three and nine month periods ended September 30, 2012 and 2011. The reconciling amounts for consolidated total assets for the periods ended September 30, 2012 and 2011 consisted of the elimination of intersegment borrowings and the assets of the Parent Company which were not eliminated.