Segment Information

9 Months Ended

Sep. 30, 2022

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.

	Operating Results for the three months ended September 30, 2022
(In thousands)	PNB		All Other		Total
Net interest income (expense)	$	92,035	$	(1,207)	$	90,828
Provision for (recovery of) credit losses	3,235		(45)		3,190
Other income	28,918		17,776		46,694
Other expense	79,070		3,833		82,903
Income before income taxes	$	38,648	$	12,781	$	51,429
Income tax expense	7,133		2,228		9,361
Net income	$	31,515	$	10,553	$	42,068
Assets (at September 30, 2022)	$	9,816,644	$	38,403	$	9,855,047

 

	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 nine months ended September 30, 2022
(In thousands)	PNB		All Other		Total
Net interest income (expense)	$	254,818	$	(2,365)	$	252,453
Provision for (recovery of) credit losses	2,045		(469)		1,576
Other income	89,420		20,123		109,543
Other expense	209,500		10,824		220,324
Income before income taxes	$	132,693	$	7,403	$	140,096
Income tax expense	24,770		59		24,829
Net income	$	107,923	$	7,344	$	115,267

	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

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 the nine-month periods ended September 30, 2022 and 2021. The reconciling amounts for consolidated total assets for the periods ended September 30, 2022 and 2021 consisted of the elimination of intersegment borrowings and the assets of the Parent Company, GFSC and SEPH which were not eliminated.