Segment Information

9 Months Ended

Sep. 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 September 30, 2021
(In thousands)	PNB		All Other		Total
Net interest income (expense)	$	82,835	$	(1,233)	$	81,602
Provision for (recovery of) credit losses	4,276		(2,304)		1,972
Other income	31,332		1,079		32,411
Other expense	64,663		3,826		68,489
Income (loss) before income taxes	$	45,228	$	(1,676)	$	43,552
Income tax expense (benefit)	8,777		(659)		8,118
Net income (loss)	$	36,451	$	(1,017)	$	35,434
Assets (at September 30, 2021)	$	10,012,868	$	21,150	$	10,034,018

 

	Operating Results for the three months ended September 30, 2020
(In thousands)	PNB		All Other		Total
Net interest income	$	83,795	$	45	$	83,840
Provision for (recovery of) loan losses	13,839		(3)		13,836
Other income	35,430		1,128		36,558
Other expense	65,590		4,269		69,859
Income (loss) before income taxes	$	39,796	$	(3,093)	$	36,703
Income tax expense (benefit)	6,908		(1,051)		5,857
Net income (loss)	$	32,888	$	(2,042)	$	30,846
Assets (at September 30, 2020)	$	9,195,911	$	44,095	$	9,240,006

	Operating Results for the nine months ended September 30, 2021
(In thousands)	PNB		All Other		Total
Net interest income (expense)	$	247,596	$	(1,409)	$	246,187
Recovery of credit losses	(3,670)		(3,253)		(6,923)
Other income	95,258		2,480		97,738
Other expense	195,361		12,393		207,754
Income (loss) before income taxes	$	151,163	$	(8,069)	$	143,094
Income tax expense (benefit)	28,694		(2,997)		25,697
Net income (loss)	$	122,469	$	(5,072)	$	117,397

 

	Operating Results for the nine months ended September 30, 2020
(In thousands)	PNB		All Other		Total
Net interest income	$	238,900	$	2,409	$	241,309
Provision for (recovery of) loan losses	32,256		(1,043)		31,213
Other income	89,920		88		90,008
Other expense	187,661		13,273		200,934
Income (loss) before income taxes	$	108,903	$	(9,733)	$	99,170
Income tax expense (benefit)	19,357		(2,910)		16,447
Net income (loss)	$	89,546	$	(6,823)	$	82,723

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, 2021 and 2020. The reconciling amounts for consolidated total assets for the periods ended September 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.