Park National Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Park National Corp. has submitted its annual 10-K filing for the fiscal year 2023, detailing its financial performance and operations.</b>

AI Summary

PARK NATIONAL CORP /OH/ (PRK) filed a Annual Report (10-K) with the SEC on February 23, 2024. Park National Corp. filed its 2023 Form 10-K on February 23, 2024. The filing covers the fiscal year ending December 31, 2023. The company is incorporated in Ohio (OH) and operates under SIC code 6021 (National Commercial Banks). Its principal business address is 50 North Third St, Newark, OH 43055. The filing includes financial data for the fiscal years 2021, 2022, and 2023.

Why It Matters

For investors and stakeholders tracking PARK NATIONAL CORP /OH/, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Park National Corp.'s financial health and strategic positioning for the past fiscal year, crucial for investors assessing its stability and growth prospects. The detailed financial statements and disclosures within the 10-K are essential for regulatory compliance and for stakeholders to understand the company's performance against its peers in the national commercial banking sector.

Risk Assessment

Risk Level: low — PARK NATIONAL CORP /OH/ shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate red flags, indicating a routine disclosure of financial performance and operational status.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Park National Corp.'s performance and outlook for the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-23 — Filing Date (Date of submission)
• 6021 — SIC Code (Industry classification)
• OH — State of Incorporation (Legal domicile)

Key Players & Entities

• PARK NATIONAL CORP /OH/ (company) — Filer name
• PRK (company) — Ticker symbol
• 0000805676 (company) — Central Index Key
• 6021 (company) — Standard Industrial Classification
• OH (company) — State of incorporation
• 2023-12-31 (date) — Fiscal year end
• 2024-02-23 (date) — Filing date
• 50 NORTH THIRD ST (company) — Business address street

FAQ

Industry Context

Park National Corp. operates within the National Commercial Banks industry, providing a range of financial services.

Regulatory Implications

As a national commercial bank, Park National Corp. is subject to regulations from federal and state authorities governing financial institutions.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and asset growth.
2. Examine any disclosed risk factors related to market conditions or operational challenges.
3. Compare key financial metrics to previous years to identify trends.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-23: Filing Date — Date Park National Corp. submitted its 10-K filing.

Year-Over-Year Comparison

This is the initial 10-K filing provided for analysis; no prior filing data is available for comparison.

Key Financial Figures

• $101,000 — rdian Finance loans outstanding totaled $101,000. SE Property Holdings, LLC ("SEPH") S
• $15.5 million — ture"), pursuant to which Vision issued $15.5 million of junior subordinated notes to Vision
• $15.0 million — on with the sale by the Vision Trust of $15.0 million of floating rate preferred securities t
• $251.5 million — al securities with an amortized cost of $251.5 million. NSCB 2, LLC; River Park Properties, L
• $3,196 million — ope Aircraft Finance) had approximately $3,196 million in commercial loans (commercial, financ
• $1,296 million — hat date. Of this amount, approximately $1,296 million represented commercial, financial and a
• $1,876 million — cial, financial and agricultural loans, $1,876 million represented commercial real estate loan
• $24 million — ented commercial real estate loans, and $24 million represented commercial leases. Commerc

Filing Documents

• prk-20231231.htm (10-K) — 6382KB
• prk-ex44x20231231x10k.htm (EX-4.4) — 6KB
• prk-ex45x202312x31x10k.htm (EX-4.5) — 52KB
• prk-ex101x20231231x10k.htm (EX-10.1) — 3KB
• prk-ex1017x20231231x10k.htm (EX-10.17) — 20KB
• prk-ex21x20231231x10k.htm (EX-21) — 20KB
• prk-ex23x20231231x10k.htm (EX-23) — 4KB
• prk-ex24x20231231x10k.htm (EX-24) — 19KB
• prk-ex311x20231231x10k.htm (EX-31.1) — 11KB
• prk-ex312x20231231x10k.htm (EX-31.2) — 11KB
• prk-ex32x20231231x10k.htm (EX-32) — 8KB
• prk-ex97x20231231x10k.htm (EX-97) — 52KB
• prk-20231231_g1.jpg (GRAPHIC) — 45KB
• 0000805676-24-000037.txt (&nbsp;) — 31422KB
• prk-20231231.xsd (EX-101.SCH) — 112KB
• prk-20231231_cal.xml (EX-101.CAL) — 91KB
• prk-20231231_def.xml (EX-101.DEF) — 821KB
• prk-20231231_lab.xml (EX-101.LAB) — 1459KB
• prk-20231231_pre.xml (EX-101.PRE) — 1145KB
• prk-20231231_htm.xml (XML) — 7847KB

BUSINESS

ITEM 1. BUSINESS. The disclosures set forth in this Item are qualified by "ITEM 1A. RISK FACTORS" and the section captioned "FORWARD-LOOKING STATEMENTS" in "ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS" of this Annual Report on Form 10-K and other cautionary statements set forth elsewhere in this Annual Report on Form 10-K. General Park National Corporation ("Park") is a financial holding company subject to regulation under the Bank Holding Company Act of 1956, as amended (the "Bank Holding Company Act"). Park began operations as a bank holding company in 1987. Park's principal executive offices are located at 50 North Third Street, Newark, Ohio 43055, and its telephone number is (740) 349-8451. Park's common shares, each without par value (the "common shares"), are listed on NYSE American, under the symbol "PRK." Park maintains an internet site which can be accessed at http://www.parknationalcorp.com . Information contained on Park's internet site does not constitute part of, and is not incorporated into, this Annual Report on Form 10-K. Park makes available free of charge on or through its internet site Park's annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), as well as Park's definitive proxy statements filed pursuant to Section 14 of the Exchange Act, in each case as soon as reasonably practicable after Park electronically files such material with, or furnishes it to, the Securities and Exchange Commission (the "SEC"). Park's principal business consists of owning and supervising its subsidiaries. Although Park directs the overall policies of its subsidiaries, including lending policies and financial resources, most day-to-day affairs are managed by the respective officers of Park's subsidiaries. Human Capital

View Full Filing

View this 10-K filing on SEC EDGAR