Segment Information

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Segment Information

Segment Information

The Corporation is a financial holding company headquartered in Newark, Ohio. The reportable segments for the Corporation are its chartered national bank subsidiary, PNB (headquartered in Newark, Ohio) and "All Other", which primarily consists of Park as the "Parent Company", GFSC and SEPH.

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 two reportable segments, as: (i) discrete financial

information is available for these reportable segments and (ii) the segments are aligned with internal reporting to Park’s Chief Executive Officer, who is the chief operating decision-maker.

	Operating Results for the three months ended September 30, 2023
(In thousands)	PNB		All Other		Total
Net interest income (expense)	$	96,078	$	(1,809)	$	94,269
Recovery of credit losses	(1,538)		(42)		(1,580)
Other income (loss)	27,888		(175)		27,713
Other expense	74,623		3,185		77,808
Income (loss) before income taxes	$	50,881	$	(5,127)	$	45,754
Income tax expense (benefit)	10,093		(1,256)		8,837
Net income (loss)	$	40,788	$	(3,871)	$	36,917
Assets (at September 30, 2023)	$	9,959,528	$	41,386	$	10,000,914

 

	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 nine months ended September 30, 2023
(In thousands)	PNB		All Other		Total
Net interest income (expense)	$	283,216	$	(5,177)	$	278,039
Provision for (recovery of) credit losses	1,901		(806)		1,095
Other income (loss)	77,241		(126)		77,115
Other expense	220,741		9,455		230,196
Income (loss) before income taxes	$	137,815	$	(13,952)	$	123,863
Income tax expense (benefit)	25,273		(3,644)		21,629
Net income (loss)	$	112,542	$	(10,308)	$	102,234

	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

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, 2023 and 2022. The reconciling amounts for consolidated total assets for the periods ended September 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.