Segment Information

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Segment Information

Segment Information

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 GFSC. "All Other", which primarily consists of Park as the "Parent Company" and 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 September 30, 2020
(In thousands)	PNB		GFSC		All Other		Total
Net interest income (expense)	$	83,795	$	893	$	(848)	$	83,840
Provision for (recovery of) loan losses	13,839		34		(37)		13,836
Other income	35,430		60		1,068		36,558
Other expense	65,590		499		3,770		69,859
Income (loss) before income taxes	$	39,796	$	420	$	(3,513)	$	36,703
Income tax expense (benefit)	6,908		88		(1,139)		5,857
Net income (loss)	$	32,888	$	332	$	(2,374)	$	30,846
Assets (at September 30, 2020)	$	9,195,911	$	16,045	$	28,050	$	9,240,006

	Operating Results for the three months ended September 30, 2019
(In thousands)	PNB		GFSC		All Other		Total
Net interest income (expense)	$	76,180	$	1,244	$	(323)	$	77,101
Provision for (recovery of) loan losses	2,320		143		(496)		1,967
Other income	24,842		59		3,235		28,136
Other expense	60,943		902		3,893		65,738
Income (loss) before income taxes	$	37,759	$	258	$	(485)	$	37,532
Income tax expense (benefit)	6,811		55		(480)		6,386
Net income (loss)	$	30,948	$	203	$	(5)	$	31,146
Assets (at September 30, 2019)	$	8,673,919	$	27,481	$	22,210	$	8,723,610

	Operating Results for the nine months ended September 30, 2020
(In thousands)	PNB		GFSC		All Other		Total
Net interest income (expense)	$	238,900	$	3,070	$	(661)	$	241,309
Provision for (recovery of) loan losses	32,256		338		(1,381)		31,213
Other income (loss)	89,920		154		(66)		90,008
Other expense	187,661		1,915		11,358		200,934
Income (loss) before income taxes	$	108,903	$	971	$	(10,704)	$	99,170
Income tax expense (benefit)	19,357		204		(3,114)		16,447
Net income (loss)	$	89,546	$	767	$	(7,590)	$	82,723

	Operating Results for the nine months ended September 30, 2019
(In thousands)	PNB		GFSC		All Other		Total
Net interest income (expense)	$	217,355	$	3,786	$	(413)	$	220,728
Provision for (recovery of) loan losses	6,563		458		(637)		6,384
Other income	68,224		142		4,603		72,969
Other expense	172,931		2,638		17,188		192,757
Income (loss) before income taxes	$	106,085	$	832	$	(12,361)	$	94,556
Income tax expense (benefit)	19,063		179		(3,450)		15,792
Net income (loss)	$	87,022	$	653	$	(8,911)	$	78,764

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 and nine-month periods ended September 30, 2020 and 2019. The reconciling amounts for consolidated total assets for the periods ended September 30, 2020 and 2019 consisted of the elimination of intersegment borrowings and the assets of the Parent Company and SEPH which were not eliminated.