Segment Information

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Segment Information

Segment Information

The Corporation is a financial holding company headquartered in Newark, Ohio. The reportable segment for the Corporation is its chartered national bank subsidiary, PNB (headquartered in Newark, Ohio). "All Other", which primarily consists of Park as the "Parent Company", GFSC 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 one reportable segment, as: (i) discrete financial information

is available for this reportable segment and (ii) the segment is aligned with internal reporting to Park’s Chief Executive Officer, who is the chief operating decision maker.

	Operating Results for the three months ended June 30, 2021
(In thousands)	PNB		All Other		Total
Net interest income	$	82,675	$	1,176	$	83,851
Recovery of credit losses	(3,752)		(288)		(4,040)
Other income	31,126		112		31,238
Other expense	67,122		4,278		71,400
Income (loss) before income taxes	$	50,431	$	(2,702)	$	47,729
Income tax expense (benefit)	9,535		(938)		8,597
Net income (loss)	$	40,896	$	(1,764)	$	39,132
Assets (at June 30, 2021)	$	9,922,623	$	25,371	$	9,947,994

 

	Operating Results for the three months ended June 30, 2020
(In thousands)	PNB		All Other		Total
Net interest income	$	79,891	$	1,295	$	81,186
Provision for (recovery of) loan losses	12,883		(659)		12,224
Other income (loss)	31,009		(45)		30,964
Other expense	60,703		4,096		64,799
Income (loss) before income taxes	$	37,314	$	(2,187)	$	35,127
Income tax expense (benefit)	6,564		(942)		5,622
Net income (loss)	$	30,750	$	(1,245)	$	29,505
Assets (at June 30, 2020)	$	9,665,657	$	47,337	$	9,712,994

	Operating Results for the six months ended June 30, 2021
(In thousands)	PNB		All Other		Total
Net interest income (expense)	$	164,761	$	(176)	$	164,585
Recovery of credit losses	(7,946)		(949)		(8,895)
Other income	63,926		1,401		65,327
Other expense	130,698		8,567		139,265
Income (loss) before income taxes	$	105,935	$	(6,393)	$	99,542
Income tax expense (benefit)	19,917		(2,338)		17,579
Net income (loss)	$	86,018	$	(4,055)	$	81,963

 

	Operating Results for the six months ended June 30, 2020
(In thousands)	PNB		All Other		Total
Net interest income	$	155,105	$	2,364	$	157,469
Provision for (recovery of) loan losses	18,417		(1,040)		17,377
Other income (loss)	54,490		(1,040)		53,450
Other expense	122,071		9,004		131,075
Income (loss) before income taxes	$	69,107	$	(6,640)	$	62,467
Income tax expense (benefit)	12,449		(1,859)		10,590
Net income (loss)	$	56,658	$	(4,781)	$	51,877

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 six-month periods ended June 30, 2021 and 2020. The reconciling amounts for consolidated total assets for the periods ended June 30, 2021 and 2020 consisted of the elimination of intersegment borrowings and the assets of the Parent Company, GFSC and SEPH which were not eliminated.