Park National Corporation (PRK) SEC Filings & Earnings Calls

Credit quality deterioration

“Nonperforming loans as of June 30, 2026 of $83.8 million represented a $14.5 million, or 21.0%, increase from $69.3 million at December 31, 2025.” · word for word

Adverse economic scenario weighting

“At June 30, 2026, management applied a 50% weighting to the baseline scenario and applied a 50% weighting to the adverse scenario.” · word for word

Integration risk from First Citizens acquisition

“The First Citizens acquisition was accounted for under the acquisition method of accounting. Assets acquired and liabilities assumed in the acquisition were recorded at their estimated fair values as of the acquisition date. These estimates were recorded based on preliminary valuations, and these estimates, including the initial accounting for deferred taxes” · word for word

Merger integration risk

“Merger with First Citizens Bancshares; $4.1M merger expenses in Q2”

Credit risk from loan growth

“Increased credit risk and higher credit losses due to loan concentrations” · word for word

Credit quality deterioration from acquired First Citizens portfolio and consumer finance exposure

“Nonperforming loans as of March 31, 2026 of $83.1 million represented a $20.0 million, or 31.7%, increase from $63.1 million at March 31, 2025.” · word for word

Integration risk from First Citizens acquisition; merger costs and operational adjustments

“For the three months ended March 31, 2026, Park recorded merger-related expenses of $15.5 million associated with the First Citizens acquisition.” · word for word

Exposure to non-bank consumer finance sector under stress

“As of March 31, 2026, Park’s outstanding loans to non‑bank consumer finance companies totaled $268.8 million, of which $20.4 million were categorized as accruing watch list credits and $1.4 million were nonaccrual loans.” · word for word

Merger integration risk from First Citizens acquisition

“risks related to the completed acquisition of First Citizens Bancshares, Inc., including the possibility that anticipated benefits are not realized as expected, difficulties integrating the two companies” · word for word

Credit risk from loan concentrations and economic uncertainty

“factors impacting the performance of our loan portfolio, including real estate values, financial health of borrowers, and loan concentrations” · word for word

Merger integration risk; $15.5M in merger expenses impacted profitability.

“First quarter of 2026 included $15.5 million ($12.4 million after tax) in merger related expenses.” · word for word

Office CRE Exposure

“As of December 31, 2025, Park had $323.2 million of loans which were fully or partially secured by non-owner-occupied office space, $320.8 million of which were accruing. This portfolio is not currently exhibiting signs of stress, but Park continues to monitor this portfolio for signs of deterioration.” · word for word

Non-bank Consumer Finance Exposure

“As of December 31, 2025, Park’s outstanding loans to non‑bank consumer finance companies totaled $274.1 million, of which $25.4 million were categorized as accruing watch list credits and $2.1 million were nonaccrual loans.” · word for word

Tariff Impact Uncertainty

“While it is too early to assess the impact of increased tariffs on individual borrowers, management continues to weigh a baseline ("most likely" scenario) forecast with a "moderate recession" scenario in calculating the general reserve.” · word for word

Integration risk from merger with First Citizens Bancshares.

“Merger closed; integration may be complex.”

Integration risk; combining two banking operations.

“Bank merger of Park National Bank and First Citizens National Bank.”

Merger may not close due to regulatory or shareholder approval risks.

“Failure to obtain necessary regulatory approvals; approval by First Citizens' shareholders required.”

Integration risks could delay or reduce anticipated cost savings.

“Integration may be more difficult, time-consuming or costly than expected.”

Potential dilution from issuance of Park common stock in the merger.

“Risks relating to the potential dilutive effect of shares of Park’s common stock to be issued.” · word for word

Credit quality deterioration

“Nonperforming loans as of September 30, 2025 of $90.6 million represented a $25.1 million, or 38.3%, increase from $65.5 million at June 30, 2025.” · word for word

Special purpose mortgage loan risk

“Delinquency rates within these special purpose mortgage loan programs have become higher than those of Park's traditional 30-year mortgage portfolio loans.” · word for word

Tariff and geopolitical uncertainty

“Management considered the geopolitical environment and uncertainty regarding the fiscal policy of the current political administration, including tariffs.” · word for word

Merger integration risk with First Citizens Bancshares.

“Agreement and Plan of Merger with First Citizens Bancshares, Inc. dated October 27, 2025.”