Exhibit 99.1

N e w s   R e l e a s e

October 20, 2008

Park National Corporation reports third quarter 2008 results

Ohio-based banks show strong performance with continued loan growth

NEWARK, Ohio — Park National Corporation (Park) (AMEX:PRK) today reported results for the third quarter 2008 and the nine months ended September 30, 2008. Park recognized a $55 million impairment charge to the goodwill value of its Vision Bank subsidiary at the end of the third quarter, which eliminated the remaining goodwill resulting from Park’s acquisition of Vision Bank. As a result, Park recorded a third quarter 2008 net loss of $38.4 million and a loss of $2.75 per diluted share. Including the impairment charge, Park’s net income in the nine months ended September 30, 2008 was $2.8 million and $0.20 per diluted share.

Without the goodwill impairment charge, Park’s net income for the third quarter 2008 was $16.6 million and $1.19 earnings per diluted share. Net income from the third quarter 2007 was $21.3 million and $1.50 per share. Net income for the nine months ended September 30, 2008 was $57.7 million and $4.14 earnings per diluted share, prior to the impairment charge. Net income for the same time period in 2007 was $65.9 million and $4.61 earnings per diluted share.

Without the impairment charge, net income for the third quarter of 2008 declined by 22.2 percent from the same period in 2007, and net income decreased by 12.4 percent for the nine months ended September 30, 2008 compared to the same period in 2007. The decreases in net income (net of the impairment charge) were primarily caused by recognizing additional loan losses in 2008 compared to 2007.

“The impact of the impairment is obvious in our short-term stated income results, although it has no effect on our regulatory capital, cash, or dividends. We remain well capitalized and are performing with strong operating results through periods of unprecedented economic change,” said Park Chairman C. Daniel DeLawder. “Loans and deposits continue to grow. Our unique style of community banking has proven particularly comforting to both clients and prospects during these unsettling times.”

“Technical accounting issues and headlines can be confusing. The fact is we’re doing fine in challenging times. We are proud of the continuing strong operating results due to the focused efforts of our associates,” DeLawder added.

In the third quarter of 2008 Park’s 12 Ohio-based banking divisions consistently performed among the best of its peers, recording net income of $23.3 million and controlling net loan charge-offs at $3.9 million, with a loan loss provision of $4.4 million. Park’s results from Ohio for the nine months ended September 30, 2008 showed a net income of $73.0 million, net loan charge-offs of $10.6 million, and a loan loss provision of $10.1 million. In the first nine months of 2008, Park’s Ohio-based banking divisions increased loans by $198 million or 5.5 percent.

Vision Bank has also increased its loans by $45 million or 7 percent in the first nine months of 2008. However, the severe real estate market conditions and deterioration of credit in Florida and Alabama markets remain a challenge. Vision Bank’s third quarter 2008 net loan charge-offs totaled $8.9 million, with a loan loss provision of $11.5 million.

Headquartered in Newark, Ohio, Park National Corporation holds $6.8 billion in assets (as of September 30, 2008). Park consists of 14 community bank divisions, a data processing and information technology division, two specialty finance companies and a title company. Park’s Ohio-based banking operations are conducted through Park subsidiary The Park National Bank and its divisions which include Fairfield National Bank, Richland Bank, Century National Bank, First-Knox National Bank, Farmers and Savings Bank, United Bank, Second National Bank, Security National Bank, Unity National Bank, Citizens National Bank and The Park National Bank of Southwest Ohio & Northern Kentucky. Park’s other banking subsidiary is Vision Bank (headquartered in Panama City, Florida), and its Vision Bank Division (of Gulf Shores, Alabama). Park also includes Scope Leasing, Inc. (d.b.a. Scope Aircraft Finance), Guardian Finance Company and Park Title Agency.

Complete financial tables are below...

Media Contacts: Bethany Lewis, Communication Specialist, 740.349.3754 or John Kozak, Chief Financial Officer, 740.349.3792

Park National Corporation
50 N. Third Street, Newark, Ohio 43055
www.parknationalcorp.com

N e w s   R e l e a s e

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This news release contains forward-looking statements that are provided to assist in the understanding of anticipated future financial performance. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance. The forward-looking statements are based on management’s expectations and are subject to a number of risks and uncertainties. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include, without limitation: deterioration in the asset value of Vision Bank’s loan portfolio may be worse than expected; Park’s ability to execute its business plan successfully and within the expected timeframe; general economic and financial market conditions, and weakening in the economy, specifically, the real estate market, either national or in the states in which Park and its subsidiaries do business, are worse than expected; changes in the interest rate environment reduce net interest margins; competitive pressures among financial institutions increase significantly; the nature, timing and effect of changes in banking regulations or other regulatory or legislative requirements affecting the respective businesses of Park and its subsidiaries; demand for loans in the respective market areas served by Park and its subsidiaries, and other risk factors relating to the banking industry as detailed from time to time in Park’s reports filed with the Securities and Exchange Commission including those described in “Item 1A. Risk Factors” of Part I of Park’s Annual Report on Form 10-K for the fiscal year ended December 31, 2007 and in “Item 1A. Risk Factors” of Part II of Park’s Quarterly Reprt on Form 10-Q for the quarterly period ended June 30, 2008. Undue reliance should not be placed on the forward-looking statements, which speak only as of the date hereof. Park does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions that may be made to update any forward-looking statement to reflect the events or circumstances after the date on which the forward-looking statement is made, or reflect the occurrence of unanticipated events, except to the extent required by law.

Park National Corporation
50 N. Third Street, Newark, Ohio 43055
www.parknationalcorp.com

PARK NATIONAL CORPORATION
FINANCIAL HIGHLIGHTS
(Dollars in thousands, except per share data)

	THREE MONTHS ENDED									NINE MONTHS ENDED
	SEPTEMBER 30,									SEPTEMBER 30,
							PERCENT									PERCENT
	2008			2007			CHANGE			2008			2007			CHANGE
INCOME STATEMENT AND RATIOS
NET INTEREST INCOME	$	65,228		$	59,416			9.78	%	$	191,038		$	174,724			9.34	%
PROVISION FOR LOAN LOSSES		15,906			5,793			174.57	%		37,869			10,879			248.09	%
OTHER INCOME		17,088			19,060			-10.35	%		56,670			53,696			5.54	%
GAIN ON SALE OF SECURITIES		—			—						896			—
GOODWILL IMPAIRMENT CHARGE		54,986			—						54,986			—
OTHER EXPENSE		44,493			42,817			3.91	%		132,203			124,606			6.10	%
INCOME (LOSS) BEFORE TAXES		(33,069	)		29,866			-210.72	%		23,546			92,935			-74.66	%
NET INCOME (LOSS)		(38,412	)		21,304			-280.30	%		2,757			65,877			-95.81	%
NET INCOME (LOSS) PER SHARE-BASIC		(2.75	)		1.50			-283.33	%		0.20			4.62			-95.67	%
NET INCOME (LOSS) PER SHARE-DILUTED		(2.75	)		1.50			-283.33	%		0.20			4.61			- 95.66	%
RETURN ON AVERAGE ASSETS		-2.25	%		1.35	%					0.06	%		1.46	%
RETURN ON AVERAGE EQUITY		-26.72	%		13.69	%					0.64	%		14.33	%
EFFICIENCY RATIO		120.22	%		54.25	%					75.17	%		54.22	%
CASH DIVIDENDS DECLARED PER SHARE		0.94			0.93			1.08	%		2.82			2.79			1.08	%
INCOME STATEMENT AND RATIOS (NON GAAP)
NET INCOME BEFORE IMPAIRMENT CHARGE (a)		16,574			21,304			-22.20	%		57,743			65,877			-12.35	%
NET INCOME BEFORE IMPAIRMENT CHARGE PER SHARE-DILUTED (a)		1.19			1.50			-20.67	%		4.14			4.61			-10.20	%
RETURN ON AVERAGE TANGIBLE ASSETS BEFORE IMPAIRMENT CHARGE (e)		0.99	%		1.40	%					1.18	%		1.50	%
RETURN ON AVERAGE ASSETS BEFORE IMPAIRMENT CHARGE (a)		0.97	%		1.35	%					1.15	%		1.46	%
RETURN ON AVERAGE TANGIBLE REALIZED EQUITY BEFORE IMPAIRMENT CHARGE (b)		15.00	%		18.89	%					17.78	%		18.74	%
RETURN ON AVERAGE EQUITY BEFORE IMPAIRMENT CHARGE (a)		11.53	%		13.69	%					13.36	%		14.33	%
EFFICIENCY RATIO BEFORE IMPAIRMENT CHARGE (d)		52.56	%		54.25	%					53.09	%		54.22	%
OTHER RATIOS
YIELD ON EARNING ASSETS		6.25	%		7.26	%					6.48	%		7.23	%
COST OF PAYING LIABILITIES		2.42	%		3.62	%					2.67	%		3.52	%
NET INTEREST MARGIN		4.17	%		4.17	%					4.18	%		4.26	%
NET LOAN CHARGE-OFFS	$	12,756		$	5,851					$	35,776		$	10,866
NET CHARGE-OFFS AS A PERCENT OF LOANS		1.15	%		0.56	%					1.11	%		0.37	%

	September 30,			December 31,			September 30,
	2008			2007			2007
BALANCE SHEET
INVESTMENTS	$	1,807,464		$	1,703,103		$	1,735,145
LOANS		4,466,671			4,224,134			4,174,652
LOAN LOSS RESERVE		89,195			87,102			79,846
GOODWILL AND OTHER INTANGIBLES		86,551			144,556			199,679
TOTAL ASSETS		6,799,733			6,501,102			6,511,136
TOTAL DEPOSITS		4,774,509			4,439,239			4,535,172
BORROWINGS		1,404,747			1,389,727			1,276,321
EQUITY		529,685			580,012			628,338
TANGIBLE EQUITY		443,134			435,456			428,659
BOOK VALUE PER SHARE		37.93			41.54			44.57
TANGIBLE BOOK VALUE PER SHARE (c)		31.73			31.18			30.41
NONPERFORMING LOANS		126,336			103,932			61,444
NONPERFORMING ASSETS		146,086			117,375			69,509
PAST DUE 90 DAY LOANS		4,388			4,545			4,734
RATIOS
LOANS/ASSETS		65.69	%		64.98	%		64.12	%
NONPERFORMING LOANS/LOANS		2.83	%		2.46	%		1.47	%
PAST DUE 90 DAY LOANS/LOANS		0.10	%		0.11	%		0.11	%
LOAN LOSS RESERVE/LOANS		2.00	%		2.06	%		1.91	%
EQUITY/ASSETS		7.79	%		8.92	%		9.65	%

(a) Net income (loss) for the three months and the nine months ended September 30, 2008 has been adjusted for the impairment charge to goodwill. Net income before impairment charge equals net income (loss) for the period plus the impairment charge to the goodwill value of Vision Bank of $54,986.

RECONCILIATION OF NET INCOME (LOSS) TO NET INCOME BEFORE IMPAIRMENT CHARGE:

	THREE MONTHS ENDED					NINE MONTHS ENDED
	SEPTEMBER 30,					SEPTEMBER 30,
	2008			2007		2008		2007
NET INCOME (LOSS)		($38,412	)	$	21,304	$	2,757	$	65,877
Plus goodwill impairment charge		54,986			—		54,986		—
NET INCOME BEFORE IMPAIRMENT CHARGE	$	16,574		$	21,304	$	57,743	$	65,877
RECONCILIATION OF NET INCOME (LOSS) PER SHARE-DILUTED TO NET INCOME BEFORE IMPAIRMENT CHARGE PER SHARE-DILUTED:
NET INCOME (LOSS) PER SHARE-DILUTED		($2.75	)	$	1.50	$	0.20	$	4.61
Plus impairment charge to goodwill per share-diluted		3.94			—		3.94		—
NET INCOME BEFORE IMPAIRMENT CHARGE PER SHARE-DILUTED	$	1.19		$	1.50	$	4.14	$	4.61

(b) Net Income before impairment charge for each period divided by average tangible realized equity during the period. Average tangible realized equity equals average stockholders’ equity during the applicable period less (i) average goodwill and other intangible assets during the period and (ii) average accumulated other comprehensive income (loss), net of taxes, during the period.

RECONCILIATION OF AVERAGE STOCKHOLDERS’ EQUITY TO AVERAGE TANGIBLE REALIZED EQUITY:

	THREE MONTHS ENDED				NINE MONTHS ENDED
	SEPTEMBER 30,				SEPTEMBER 30,
	2008		2007		2008			2007
AVERAGE STOCKHOLDERS’ EQUITY	$	571,910	$	617,506	$	577,251		$	614,612
Less Average Goodwill and Other Intangible Assets		141,511		197,778		142,903			168,734
Average Accumulated Other Comprehensive (Income)Loss, Net of Taxes		9,184		27,611		(456	)		24,167
AVERAGE TANGIBLE REALIZED EQUITY	$	439,583	$	447,339	$	433,892		$	470,045

(c) Tangible book value per share equals stockholders’ equity at the end of the period less goodwill and other intangibles at the end of the period, divided by actual shares outstanding at the end of the period.

RECONCILIATION OF STOCKHOLDERS’ EQUITY TO TANGIBLE EQUITY:

	September 30,		December 31,		September 30,
	2008		2007		2007
STOCKHOLDERS’ EQUITY	$	529,685	$	580,012	$	628,338
Less Goodwill and Other Intangible Assets		86,551		144,556		199,679
TANGIBLE EQUITY	$	443,134	$	435,456	$	428,659

(d) Efficiency ratio before impairment charge is calculated by reducing non-interest expense by the goodwill impairment charge, and dividing that result by non-interest income and net interest income (on a tax equivalent basis) for each period.

RECONCILIATION OF NON-INTEREST EXPENSE TO NON-INTEREST EXPENSE BEFORE IMPAIRMENT CHARGE

	THREE MONTHS ENDED					NINE MONTHS ENDED
	SEPTEMBER 30,					SEPTEMBER 30,
	2008			2007		2008			2007
NON-INTEREST EXPENSE	$	99,479		$	42,817	$	187,189		$	124,606
Less Goodwill Impairment Charge		(54,986	)		—		(54,986	)		—
NON-INTEREST EXPENSE BEFORE IMPAIRMENT CHARGE	$	44,493		$	42,817	$	132,203		$	124,606

(e) Net income before impairment charge divided by average tangible assets during the period. Average tangible assets equals average assets less average goodwill and other intanbibles.

RECONCILIATION OF AVERAGE ASSETS TO AVERAGE TANGIBLE ASSETS

	THREE MONTHS ENDED				NINE MONTHS ENDED
	SEPTEMBER 30,				SEPTEMBER 30,
	2008		2007		2008		2007
AVERAGE ASSETS	$	6,797,792	$	6,253,784	$	6,681,524	$	6,053,164
Less Average Goodwill and Other Intangible Assets		141,511		197,778		142,903		168,734
AVERAGE TANGIBLE ASSETS	$	6,656,281	$	6,056,006	$	6,538,621	$	5,884,430

PARK NATIONAL CORPORATION
Consolidated Statements of Income
(dollars in thousands, except per share data)

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2008			2007		2008		2007
Interest income:
Interest and fees on loans	$	75,167		$	83,964	$	229,109	$	238,625
Interest on:
Obligations of U.S. Government, its agencies and other securities		22,204			18,826		65,538		55,651
Obligations of states and political subdivisions		488			754		1,707		2,349
Other interest income		88			222		262		802
Total interest income		97,947			103,766		296,616		297,427
Interest expense:
Interest on deposits:
Demand and savings deposits		5,573			11,309		18,266		29,936
Time deposits		15,527			21,440		51,344		60,249
Interest on borrowings		11,619			11,601		35,968		32,518
Total interest expense		32,719			44,350		105,578		122,703
Net interest income		65,228			59,416		191,038		174,724
Provision for loan losses		15,906			5,793		37,869		10,879
Net interest income after provision for loan losses		49,322			53,623		153,169		163,845
Other income		17,088			19,060		56,670		53,696
Gain on sale of securities		—			—		896		—
Other expense:
Salaries and employee benefits		25,105			24,980		74,262		72,776
Occupancy expense		2,850			2,700		8,758		8,054
Furniture and equipment expense		2,412			2,407		7,305		6,964
Goodwill Impairment charge		54,986			—		54,986		—
Other expense		14,126			12,730		41,878		36,812
Total other expense		99,479			42,817		187,189		124,606
Income (loss) before income taxes		(33,069	)		29,866		23,546		92,935
Income taxes		5,343			8,562		20,789		27,058
Net income (loss)		($38,412	)	$	21,304	$	2,757	$	65,877
Per Share:
Net income (loss) — basic		($2.75	)	$	1.50	$	0.20	$	4.62
Net income (loss) — diluted		($2.75	)	$	1.50	$	0.20	$	4.61
Weighted average shares — basic		13,964,549			14,193,019		13,964,561		14,273,759
Weighted average shares — diluted		13,964,549			14,193,019		13,964,561		14,279,810

PARK NATIONAL CORPORATION
Consolidated Balance Sheets
(dollars in thousands)

	September 30,
	2008			2007
Assets
Cash and due from banks	$	161,591		$	154,472
Money market instruments		22,378			11,991
Interest bearing deposits		1			1
Investment securities		1,807,464			1,735,145
Loans (net of unearned income)		4,466,671			4,174,652
Allowance for loan losses		89,195			79,846
Loans, net		4,377,476			4,094,806
Bank premises and equipment, net		69,562			66,527
Other assets		361,261			448,194
Total assets	$	6,799,733		$	6,511,136
Liabilities and Stockholders’ Equity
Deposits:
Noninterest bearing	$	725,859		$	692,749
Interest bearing		4,048,650			3,842,423
Total deposits		4,774,509			4,535,172
Borrowings		1,404,747			1,276,321
Other liabilities		90,792			71,305
Total liabilities		6,270,048			5,882,798
Stockholders’ Equity:
Common stock (No par value; 20,000,000 shares authorized in 2008 and 2007; 16,151,162 shares issued in 2008 and 16,151,213 in 2007)		301,211			300,321
Accumulated other comprehensive (loss), net of taxes		(4,390	)		(19,945	)
Retained earnings		440,968			545,854
Treasury stock (2,186,624 shares in 2008 and 2,053,764 shares in 2007)		(208,104	)		(197,892	)
Total stockholders’ equity		529,685			628,338
Total liabilities and stockholders’ equity	$	6,799,733		$	6,511,136

PARK NATIONAL CORPORATION
Consolidated Average Balance Sheets
(dollars in thousands)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2008			2007			2008			2007
Assets
Cash and due from banks	$	145,365		$	147,393		$	144,879		$	151,997
Money market instruments		17,970			16,800			14,733			20,206
Interest bearing deposits		1			1			1			1
Investment securities		1,817,128			1,531,063			1,803,391			1,527,891
Loans (net of unearned income)		4,409,188			4,115,617			4,317,204			3,948,942
Allowance for loan losses		85,512			79,862			85,786			77,441
Loans, net		4,323,676			4,035,755			4,231,418			3,871,501
Bank premises and equipment, net		69,545			64,747			69,246			59,860
Other assets		424,107			458,025			417,856			421,708
Total assets	$	6,797,792		$	6,253,784		$	6,681,524		$	6,053,164
Liabilities and Stockholders’ Equity
Deposits:
Noninterest bearing	$	747,978		$	699,274		$	730,436		$	690,323
Interest bearing		3,873,958			3,837,602			3,803,386			3,678,205
Total deposits		4,621,936			4,536,876			4,533,822			4,368,528
Borrowings		1,514,906			1,019,870			1,476,378			986,424
Other liabilities		89,040			79,555			94,073			83,600
Total liabilities		6,225,882			5,636,301			6,104,273			5,438,552
Stockholders’ Equity:
Common stock		301,211			300,322			301,212			279,285
Accumulated other comprehensive income (loss), net of taxes		(9,184	)		(27,616	)		456			(24,167	)
Retained earnings		487,986			534,323			483,686			524,827
Treasury stock		(208,103	)		(189,546	)		(208,103	)		(165,333	)
Total stockholders’ equity		571,910			617,483			577,251			614,612
Total liabilities and stockholders’ equity	$	6,797,792		$	6,253,784		$	6,681,524		$	6,053,164