Segment Information

3 Months Ended

Mar. 31, 2019

The Corporation is a financial holding company headquartered in Newark, Ohio. The reportable segments for the Corporation are its chartered national bank subsidiary, PNB (headquartered in Newark, Ohio) and Guardian Financial Services Company (“GFSC”). "All Other", which primarily consists of Park as the "Parent Company" and SE Property Holdings, LLC ("SEPH"), is shown to reconcile the segment totals to the consolidated condensed statements of income.

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 two reportable segments, as: (i) discrete financial information is available for each reportable segment and (ii) the segments are aligned with internal reporting to Park’s Chief Executive Officer, who is the chief operating decision maker.



	Operating Results for the three months ended March 31, 2019
(In thousands)	PNB		GFSC		All Other			Total
Net interest income	$	66,282	$	1,325	$	169		$	67,776
Provision for (recovery of) loan losses	2,440		145		(87		)	2,498
Other income	20,708		32		1,285			22,025
Other expense	51,974		845		4,008			56,827
Income (loss) before income taxes	$	32,576	$	367	$	(2,467	)	$	30,476
Income tax expense (benefit)	5,884		80		(943		)	5,021
Net income (loss)	$	26,692	$	287	$	(1,524	)	$	25,455

Assets (as of March 31, 2019)	$	7,801,148	$	30,238	$	20,860		$	7,852,246



	Operating Results for the three months ended March 31, 2018
(In thousands)	PNB			GFSC		All Other			Total
Net interest income	$	61,441		$	1,305	$	2,104		$	64,850
(Recovery of) provision for loan losses	(67		)	503		(176		)	260
Other income	19,915			30		6,958			26,903
Other expense	49,001			760		4,547			54,308
Income before income taxes	$	32,422		$	72	$	4,691		$	37,185
Income tax expense	5,677			15		370			6,062
Net income	$	26,745		$	57	$	4,321		$	31,123

Assets (as of March 31, 2018)	$	7,455,518		$	30,553	$	32,899		$	7,518,970

The operating results in the “All Other” column are used to reconcile the segment totals to the consolidated condensed statements of income for the three-month periods ended March 31, 2019 and 2018. The reconciling amounts for consolidated total assets for the periods ended March 31, 2019 and 2018 consisted of the elimination of intersegment borrowings and the assets of the Parent Company and SEPH which were not eliminated.