Segment Reporting

12 Months Ended

Dec. 31, 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", SEPH and GFSC, is shown to reconcile the segment totals to the Consolidated Balance Sheets and 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, 2022 (In thousands)
	PNB		All Other		Total
Net interest income	$	350,646	$	(3,587)	$	347,059
Provision for (recovery of) credit losses	5,834		(1,277)		4,557
Other income	115,211		20,724		135,935
Other expense	283,670		14,308		297,978
Income before income taxes	176,353		4,106		180,459
Income tax expense (benefit)	33,110		(1,002)		32,108
Net income	$	143,243	$	5,108	$	148,351
Balances at December 31, 2022
Assets	$	9,815,951	$	39,042	$	9,854,993
Loans	7,141,362		529		7,141,891
Deposits	8,534,320		(299,605)		8,234,715

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 (loss) 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

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:

 

	2022
(In thousands)	Net Interest Income		Depreciation Expense		Other Expense		Income Taxes		Assets		Deposits
Totals for reportable segments	$	350,646	$	13,819	$	269,851	$	33,110	$	9,815,951	$	8,534,320
Elimination of intersegment items	1,250		—		—		—		(3,042)		(299,993)
"All Other" totals - not eliminated	(4,837)		—		14,308		(1,002)		42,084		388
Totals	$	347,059	$	13,819	$	284,159	$	32,108	$	9,854,993	$	8,234,715

 

	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