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Fair Value (Tables)
 6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Assets And Liabilities Measured At Fair Value On A Recurring Basis
The following table presents assets and liabilities measured at fair value on a recurring basis:
 
Fair Value Measurements at June 30, 2022 using:
(In thousands)Level 1Level 2Level 3Balance at June 30, 2022
Assets    
Investment securities:    
Obligations of U.S. Treasury and other U.S. Government sponsored entities$— $37,984 $— $37,984 
Obligations of states and political subdivisions— 406,779 — 406,779 
U.S. Government sponsored entities’ asset-backed securities— 863,734 — 863,734 
Collateralized loan obligations— 514,107 — 514,107 
Corporate debt securities— 16,499 — 16,499 
Equity securities1,294 — 491 1,785 
Mortgage loans held for sale— 5,679 — 5,679 
Mortgage IRLCs— 125 — 125 
Loan interest rate swaps— 849 — 849 
Liabilities    
Fair value swap$— $— $447 $447 
Borrowing interest rate swap— — — — 
Loan interest rate swaps— 849 — 849 
 
Fair Value Measurements at December 31, 2021 using:
(In thousands)Level 1Level 2Level 3Balance at December 31, 2021
Assets    
Investment securities:    
Obligations of states and political subdivisions$— $389,591 $— $389,591 
U.S. Government sponsored entities’ asset-backed securities— 854,463 — 854,463 
Collateralized loan obligations— 498,674 — 498,674 
Corporate debt securities— 11,412 — 11,412 
Equity securities1,630 — 499 2,129 
Mortgage loans held for sale— 9,387 — 9,387 
Mortgage IRLCs— 333 — 333 
Loan interest rate swaps— 1,952 — 1,952 
Liabilities    
Fair value swap$— $— $226 $226 
Borrowing interest rate swap— 262 — 262 
Loan interest rate swaps— 1,952 — 1,952 
Reconciliation Of Level 3 Input For Financial Instruments Measured On Recurring Basis
The table below presents a reconciliation of the beginning and ending balances of the Level 3 inputs for the three-month and six-month periods ended June 30, 2022 and 2021, for financial instruments measured on a recurring basis and classified as Level 3:

Level 3 Fair Value Measurements
Three months ended June 30, 2022 and 2021
(In thousands)Equity
Securities		Fair value
swap
Balance at April 1, 2022$491 $(226)
Total losses  
Included in other income / expense— (221)
Balance at June 30, 2022$491 $(447)
Balance at April 1, 2021$490 $(226)
Total gains (losses)  
Included in other income / expense— — 
Balance at June 30, 2021$490 $(226)

Level 3 Fair Value Measurements
Six months ended June 30, 2022 and 2021
(In thousands)Equity
Securities		Fair value
swap
Balance at January 1, 2022$499 $(226)
Total losses  
Included in other income / expense(8)(221)
Balance at June 30, 2022$491 $(447)
Balance at January 1, 2021$485 $(226)
Total gains   
Included in other income / expense5 — 
Balance at June 30, 2021$490 $(226)
Assets And Liabilities Measured At Fair Value On A Nonrecurring Basis
The following tables present assets and liabilities measured at fair value on a nonrecurring basis. Individually evaluated collateral dependent loans secured by real estate are carried at fair value if they have been charged down to fair value or if a specific valuation allowance has been established. As of June 30, 2022 and December 31, 2021, there were no PCD loans carried at fair value. A new cost basis is established at the time a property is initially recorded in OREO. OREO properties are carried at fair value if a devaluation has been taken with respect to the property's value subsequent to the initial measurement.

Fair Value Measurements at June 30, 2022 using:
(In thousands)Level 1Level 2Level 3Balance at June 30, 2022
Commercial loans held for sale$— $— $4,926 $4,926 
Individually evaluated collateral dependent loans recorded at fair value:    
Commercial real estate$— $— $2,525 $2,525 
Residential real estate— — 207 207 
Total individually evaluated collateral dependent loans recorded at fair value$— $— $2,732 $2,732 
MSRs$— $1,459 $— $1,459 
OREO recorded at fair value:
Residential real estate— — — — 
Total OREO recorded at fair value$— $— $— $— 
Other repossessed assets$— $— $— $— 
 
Fair Value Measurements at December 31, 2021 using:
(In thousands)Level 1Level 2Level 3Balance at December 31, 2021
Individually evaluated collateral dependent loans recorded at fair value:    
Commercial real estate$— $— $831 $831 
Residential real estate— — 272 272 
Total individually evaluated collateral dependent loans recorded at fair value$— $— $1,103 $1,103 
MSRs$— $13,482 $— $13,482 
OREO recorded at fair value:
Residential real estate— — 775 775 
Total OREO recorded at fair value$— $— $775 $775 
Other repossessed assets$— $— $2,750 $2,750 
Schedule of impaired financing receivables additional info
The following tables provide the amortized cost basis of collateral-dependent loans by class of loan, as of June 30, 2022 and December 31, 2021:

 June 30, 2022
(In thousands)Real EstateBusiness AssetsOtherTotal
Commercial, financial and agricultural
Commercial, financial and agricultural$8,165 $3,638 $251 $12,054 
Commercial real estate31,401 32 — 31,433 
Construction real estate:
Commercial1,135 — — 1,135 
Residential real estate:
Commercial2,406 10 — 2,416 
Mortgage361 — — 361 
HELOC124 — — 124 
Leases— 934 — 934 
Total loans$43,592 $4,614 $251 $48,457 
 December 31, 2021
(In thousands)Real EstateBusiness AssetsOtherTotal
Commercial, financial and agricultural
Commercial, financial and agricultural$9,321 $13,366 $156 $22,843 
Commercial real estate52,901 37 — 52,938 
Construction real estate:
Commercial1,178 — — 1,178 
Residential real estate:
Commercial2,906 — 57 2,963 
Mortgage370 — — 370 
HELOC148 — — 148 
Leases— 1,211 — 1,211 
Total loans$66,824 $14,614 $213 $81,651 

Interest income on nonaccrual loans individually evaluated for impairment is recognized on a cash basis only when Park expects to receive the entire recorded investment in the loans. The following table presents interest income recognized on nonaccrual loans for the three-month and six-month periods ended June 30, 2022 and 2021:

Interest Income Recognized
(In thousands)Three Months Ended
June 30, 2022		Three Months Ended
June 30, 2021		Six Months Ended
June 30, 2022		Six Months Ended
June 30, 2021
Commercial, financial and agricultural:
Commercial, financial and agricultural$13 $50 $30 $107 
PPP loans— — — — 
Overdrafts— — — — 
Commercial real estate257 507 514 1,022 
Construction real estate:
Commercial3 4 4 37 
Retail— — 4 1 
Residential real estate:
Commercial20 74 40 120 
Mortgage36 64 69 143 
HELOC2 6 6 10 
Installment— 1 2 2 
Consumer:
Consumer14 25 28 48 
GFSC1 3 3 8 
Check loans— — — — 
Leases10 24 24 44 
Total loans$356 $758 $724 $1,542 
Qualitative Information about Level 3 Fair Value Measurements Measured on Non-Recurring Basis
The following tables present qualitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at June 30, 2022 and December 31, 2021:

June 30, 2022
(In thousands)Fair ValueValuation TechniqueUnobservable Input(s)Range
(Weighted Average)
Individually evaluated collateral dependent loans:    
Commercial real estate$2,525 Sales comparison approachAdj to comparables
0.0% - 85.7% (11.4%)
Income approachCapitalization rate
8.0% (8.0%)
Residential real estate$207 Sales comparison approachAdj to comparables
1.9% - 119.8% (17.5%)

Balance at December 31, 2021
(In thousands)Fair ValueValuation TechniqueUnobservable Input(s)Range
(Weighted Average)
Individually evaluated collateral dependent loans:    
Commercial real estate$831 Sales comparison approachAdj to comparables
0.0% - 232.0% (28.3%)
Residential real estate$272 Sales comparison approachAdj to comparables
0.5% - 78.6% (11.6%)
Cost approachAccumulated depreciation
8.3% (8.3%)
Other real estate owned:
Residential real estate$775 Sales comparison approachAdj to comparables
5.0% - 32.5% (19.1%)
Fair Value, by Balance Sheet Grouping
The fair value of certain financial instruments at June 30, 2022 and December 31, 2021, was as follows:

June 30, 2022
  Fair Value Measurements
(In thousands)Carrying valueLevel 1Level 2Level 3Total fair value
Financial assets:
Cash and money market instruments$246,441 $246,441 $— $— $246,441 
Investment securities (1)
1,839,103 — 1,839,103 — 1,839,103 
Other investment securities (2)
1,785 1,294 — 491 1,785 
Commercial loans held for sale6,321 — — 6,625 6,625 
Mortgage IRLCs125 — 125 — 125 
Mortgage loans held for sale5,679 — 5,679 — 5,679 
Individually evaluated loans carried at fair value2,732 — — 2,732 2,732 
Other loans, net6,868,701 — — 6,802,832 6,802,832 
Loans receivable, net$6,877,237 $— $5,804 $6,805,564 $6,811,368 
Financial liabilities:     
Time deposits$674,193 $— $675,858 $— $675,858 
Other4,048 4,048 — — 4,048 
Deposits (excluding demand deposits)$678,241 $4,048 $675,858 $— $679,906 
Short-term borrowings$171,799 $— $171,799 $— $171,799 
Subordinated notes188,435 — 183,285 — 183,285 
Derivative financial instruments - assets:
Loan interest rate swaps849 — 849 — 849 
Derivative financial instruments - liabilities:     
Fair value swap447 — — 447 447 
Borrowing interest rate swap— — — — — 
Loan interest rate swaps849 — 849 — 849 
(1) Includes debt securities AFS.
(2) Excludes FHLB stock and FRB stock which are carried at their respective redemption values, investment securities accounted for at modified cost as these investments do not have a readily determinable fair value, and Partnership Investments valued using the NAV practical expedient.
December 31, 2021
  Fair Value Measurements
(In thousands)Carrying valueLevel 1Level 2Level 3Total fair value
Financial assets:
Cash and money market instruments$219,180 $219,180 $— $— $219,180 
Investment securities (1)
1,754,140 — 1,754,140 — 1,754,140 
Other investment securities (2)
2,129 1,630 — 499 2,129 
Mortgage loans held for sale9,387 — 9,387 — 9,387 
Mortgage IRLCs333 — 333 — 333 
Individually evaluated loans carried at fair value1,103 — — 1,103 1,103 
Other loans, net6,777,102 — — 6,783,848 6,783,848 
Loans receivable, net$6,787,925 $— $9,720 $6,784,951 $6,794,671 
Financial liabilities:     
Time deposits$711,660 $— $714,307 — $714,307 
Other1,465 1,465 — — 1,465 
Deposits (excluding demand deposits)$713,125 $1,465 $714,307 $— $715,772 
Short-term borrowings$238,786 $— $238,786 $— $238,786 
Subordinated notes188,210 — 207,912 — 207,912 
Derivative financial instruments - assets:     
Loan interest rate swaps1,952 — 1,952 — 1,952 
Derivative financial instruments - liabilities:
Fair value swap$226 $— $— $226 $226 
Borrowing interest rate swap262 — 262 — 262 
Loan interest rate swaps1,952 — 1,952 — 1,952 
Impaired Financing Receivables at fair value
June 30, 2022
(In thousands)Loan BalancePrior Charge-OffsSpecific Valuation AllowanceCarrying Balance
Total individually evaluated collateral dependent loans recorded at fair value$3,892 $162 $1,160 $2,732 
Remaining individually evaluated loans 38,631 220 714 37,917 
Total individually evaluated loans$42,523 $382 $1,874 $40,649 

December 31, 2021
(In thousands)Loan BalancePrior Charge-OffsSpecific Valuation AllowanceCarrying Balance
Total individually evaluated collateral dependent loans recorded at fair value$1,291 $240 $188 $1,103 
Remaining individually evaluated loans73,211 384 1,428 71,783 
Total individually evaluated loans$74,502 $624 $1,616 $72,886