Exhibit 12.1

STATEMENT OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES

	For the Nine
	Months Ended		For the Year Ended December 31,
	September 30, 2008		2007		2006		2005		2004		2003
Ratio of earnings to fixed charges (1)
Excluding Interest on Deposits		1.64		2.12		4.36		4.61		7.80		10.01
Including Interest on Deposits		1.22		1.31		2.09		2.44		3.19		2.98
(1)      For purposes of computing the ratios, earnings consist of income before income taxes and fixed charges. Fixed charges consist of           interest on borrowings and long-term debt, including/excluding interest on deposits, and one-third of rental expense, which Park           National Corporation believes is representative of the interest factor.
Earnings
Income before income taxes	$	23,546,000	$	52,677,000	$	133,077,000	$	135,424,000	$	129,249,000	$	123,189,000
Fixed Charges:
Interest on deposits		69,610,000		121,021,000		82,272,000		56,899,000		39,998,000		48,600,000
Interest expense on borrowings and long-term debt		35,968,000		46,126,000		39,043,000		36,996,000		18,704,000		13,392,000
Rent expense interest factor (1/3)		610,989		731,723		530,030		476,528		303,595		283,735
Total fixed charges, including interest on deposits	$	106,188,989	$	167,878,723	$	121,845,030	$	94,371,528	$	59,005,595	$	62,275,735
Total fixed charges, excluding interest on deposits	$	36,578,989	$	46,857,723	$	39,573,030	$	37,472,528	$	19,007,595	$	13,675,735