Segment Information

6 Months Ended

Jun. 30, 2023

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 June 30, 2023
(In thousands)	PNB		All Other		Total
Net interest income (expense)	$	93,549	$	(1,977)	$	91,572
Provision for (recovery of) credit losses	2,524		(32)		2,492
Other income (loss)	25,091		(76)		25,015
Other expense	73,121		2,764		75,885
Income (loss) before income taxes	$	42,995	$	(4,785)	$	38,210
Income tax expense (benefit)	7,510		(884)		6,626
Net income (loss)	$	35,485	$	(3,901)	$	31,584
Assets (at June 30, 2023)	$	9,857,452	$	42,099	$	9,899,551

 

	Operating Results for the three months ended June 30, 2022
(In thousands)	PNB		All Other		Total
Net interest income	$	83,411	$	528	$	83,939
Provision for (recovery of) credit losses	3,357		(366)		2,991
Other income	29,255		1,938		31,193
Other expense	66,214		3,834		70,048
Income (loss) before income taxes	$	43,095	$	(1,002)	$	42,093
Income tax expense (benefit)	8,155		(386)		7,769
Net income (loss)	$	34,940	$	(616)	$	34,324
Assets (at June 30, 2022)	$	9,794,711	$	31,959	$	9,826,670

	Operating Results for the six months ended June 30, 2023
(In thousands)	PNB		All Other		Total
Net interest income (expense)	$	187,138	$	(3,368)	$	183,770
Provision for (recovery of) credit losses	3,439		(764)		2,675
Other income	49,353		49		49,402
Other expense	146,118		6,270		152,388
Income (loss) before income taxes	$	86,934	$	(8,825)	$	78,109
Income tax expense (benefit)	15,180		(2,388)		12,792
Net income (loss)	$	71,754	$	(6,437)	$	65,317

	Operating Results for the six months ended June 30, 2022
(In thousands)	PNB		All Other		Total
Net interest income (expense)	$	162,783	$	(1,158)	$	161,625
Recovery of credit losses	(1,190)		(424)		(1,614)
Other income	60,502		2,347		62,849
Other expense	130,430		6,991		137,421
Income (loss) before income taxes	$	94,045	$	(5,378)	$	88,667
Income tax expense (benefit)	17,637		(2,169)		15,468
Net income (loss)	$	76,408	$	(3,209)	$	73,199

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 six-month periods ended June 30, 2023 and 2022. The reconciling amounts for consolidated total assets for the periods ended June 30, 2023 and 2022 consisted of the elimination of intersegment borrowings and the assets of the Parent Company, GFSC and SEPH which were not eliminated.