Exhibit 12

Computation of Ratio of Earnings to Fixed Charges and Preferred Dividends

The following table shows the ratio of earnings to fixed charges and preferred dividends for Park National Corporation, which includes our subsidiaries, on a consolidated basis:

	Year Ended December 31,
	2011		2010		2009		2008		2007
Ratio of earnings to fixed charges
and preferred dividends (1):
Excluding Interest on Deposits		3.89		2.94		3.52		1.77		2.12
Including Interest on Deposits		2.72		1.93		1.94		1.26		1.31

(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, preferred dividends and accretion, and one-third of rental expense, which Park National Corporation believes is representative of the interest factor.

Earnings:
Income before income taxes	$	116,555,000	$	74,737,000	$	97,135,000	$	35,719,000	$	52,677,000
Fixed Charges:
Interest on deposits		27,655,000		41,965,000		64,620,000		89,892,000		121,021,000
Borrowings and long-term debt		31,241,000		29,508,000		29,579,000		45,574,000		46,126,000
Preferred dividends and accretion		8,365,714		8,295,714		8,231,429		202,857
Rent expense interest factor (1/3)		662,843		721,687		794,866		801,147		731,723
Total fixed charges:
Including interest on deposits	$	67,924,557	$	80,490,401	$	103,225,295	$	136,470,004	$	167,878,723
Excluding interest on deposits	$	40,269,557	$	38,525,401	$	38,605,295	$	46,578,004	$	46,857,723