Segment Reporting

12 Months Ended

Dec. 31, 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", SEPH and GFSC, is shown to reconcile the segment totals to the Consolidated Statements of Income.

U.S. GAAP requires management 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 a 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) this segment is aligned with internal reporting to Park’s Chief Executive Officer, who is the chief operating decision-maker.  

Operating results for the year ended December 31, 2021 (In thousands)
	PNB		All Other		Total
Net interest income	$	328,398	$	1,495	$	329,893
Recovery of credit losses	(8,554)		(3,362)		(11,916)
Other income	126,802		3,142		129,944
Other expense	266,678		16,840		283,518
Income before income taxes	197,076		(8,841)		188,235
Income tax expense (benefit)	37,615		(3,325)		34,290
Net income (loss)	$	159,461	$	(5,516)	$	153,945
Balances at December 31, 2021
Assets	$	9,538,217	$	22,037	$	9,560,254
Loans	6,868,935		2,187		6,871,122
Deposits	8,157,720		(253,192)		7,904,528

Operating results for the year ended December 31, 2020 (In thousands)
	PNB		All Other		Total
Net interest income	$	326,375	$	1,255	$	327,630
Provision for (recovery of) credit losses	30,813		(18,759)		12,054
Other income	124,231		1,433		125,664
Other expense	268,938		17,657		286,595
Income before income taxes	150,855		3,790		154,645
Income tax expense (benefit)	27,125		(403)		26,722
Net income	$	123,730	$	4,193	$	127,923
Balances at December 31, 2020
Assets	$	9,236,915	$	42,106	$	9,279,021
Loans	7,165,840		11,945		7,177,785
Deposits	7,820,983		(248,625)		7,572,358

Operating results for the year ended December 31, 2019 (In thousands)
	PNB		All Other		Total
Net interest income	$	293,130	$	4,607	$	297,737
Provision for (recovery of) credit losses	8,356		(2,185)		6,171
Other income	92,392		4,801		97,193
Other expense	237,433		26,555		263,988
Income (loss) before income taxes	139,733		(14,962)		124,771
Income tax expense (benefit)	26,133		(4,062)		22,071
Net income (loss)	$	113,600	$	(10,900)	$	102,700
Balances at December 31, 2019
Assets	$	8,521,537	$	36,840	$	8,558,377
Loans	6,481,644		19,760		6,501,404
Deposits	7,125,111		(72,499)		7,052,612

The operating results in the "All Other" column are used to reconcile the segment totals to the Consolidated Statements of Income. The reconciling amounts for consolidated total assets, loans and deposits consist of the elimination of intersegment borrowings, intersegment loans, intersegment deposits, and the assets of the Parent Company, SEPH and GFSC which were not eliminated.

The following is a reconciliation of financial information for the reportable segments to the Corporation’s consolidated totals:

	2021
(In thousands)	Net Interest Income		Depreciation Expense		Other Expense		Income Taxes		Assets		Deposits
Totals for reportable segments	$	328,398	$	13,265	$	253,413	$	37,615	$	9,538,217	$	8,157,720
Elimination of intersegment items	1,250		—		—		—		(1,413)		(254,060)
All other totals - not eliminated	245		2		16,838		(3,325)		23,450		868
Totals	$	329,893	$	13,267	$	270,251	$	34,290	$	9,560,254	$	7,904,528

	2020
(In thousands)	Net Interest Income		Depreciation Expense		Other Expense		Income Taxes		Assets		Deposits
Totals for reportable segments	$	326,375	$	10,803	$	258,135	$	27,125	$	9,236,915	$	7,820,983
Elimination of intersegment items	1,250		—		—		—		(1,028)		(250,965)
All other totals - not eliminated	5		11		17,646		(403)		43,134		2,340
Totals	$	327,630	$	10,814	$	275,781	$	26,722	$	9,279,021	$	7,572,358

	2019
(In thousands)	Net Interest Income		Depreciation Expense		Other Expense		Income Taxes		Assets		Deposits
Totals for reportable segments	$	293,130	$	9,089	$	228,344	$	26,133	$	8,521,537	$	7,125,111
Elimination of intersegment items	1,250		—		—		—		(18,910)		(76,418)
All other totals - not eliminated	3,357		23		26,532		(4,062)		55,750		3,919
Totals	$	297,737	$	9,112	$	254,876	$	22,071	$	8,558,377	$	7,052,612