Park National Corporation (PRK) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
50 NORTH THIRD ST NEWARK, OH 43055 |
| State of Incorp. | OH |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6021 - National Commercial Banks (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 1,553,199 | 1,925,283 | 1,975,449 | 372,985 | 161,949 | 168,863 | |||
| Cash and cash equivalents | 218,268 | 189,728 | 219,180 | 370,474 | 159,956 | 167,214 | |||
| Short-term investments | 1,334,931 | 1,735,555 | 1,756,269 | 2,511 | 1,993 | 1,649 | |||
| Prepaid expense | 165,879 | 153,579 | 144,124 | 103,523 | 101,990 | 94,079 | |||
| Total current assets: | 1,719,078 | 2,078,862 | 2,119,573 | 476,508 | 263,939 | 262,942 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 15,715 | 17,600 | 13,446 | 15,078 | 13,714 | ✕ | |||
| Property, plant and equipment | 74,211 | 82,126 | 89,008 | 88,660 | 73,322 | 59,771 | |||
| Intangible assets, net (including goodwill) | 164,247 | 165,570 | 167,057 | 168,855 | 171,118 | 119,710 | |||
| Goodwill | 159,595 | 159,595 | 159,595 | 159,595 | 159,595 | 112,739 | |||
| Intangible assets, net (excluding goodwill) | 4,652 | 5,975 | 7,462 | 9,260 | 11,523 | 6,971 | |||
| Investment, proportional amortization method, elected, amount | 62,703 | 60,968 | 58,711 | 56,024 | 53,070 | 50,347 | |||
| Total noncurrent assets: | 316,876 | 326,264 | 328,222 | 328,617 | 311,224 | 229,828 | |||
| Other undisclosed assets | 7,800,499 | 7,449,867 | 7,112,459 | 8,473,896 | 7,983,214 | 7,311,538 | |||
| TOTAL ASSETS: | 9,836,453 | 9,854,993 | 9,560,254 | 9,279,021 | 8,558,377 | 7,804,308 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Debt | 517,329 | 227,342 | 238,786 | 342,230 | 230,657 | 221,966 | |||
| Total current liabilities: | 517,329 | 227,342 | 238,786 | 342,230 | 230,657 | 221,966 | |||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 28,768 | 28,132 | 28,484 | 29,298 | 25,894 | 22,282 | |||
| Investment program, proportional amortization method, elected, commitment | 28,768 | 28,132 | 28,484 | 29,298 | 25,894 | 22,282 | |||
| Total noncurrent liabilities: | 28,768 | 28,132 | 28,484 | 29,298 | 25,894 | 22,282 | |||
| Other undisclosed liabilities | 8,145,063 | 8,530,293 | 8,182,225 | 7,867,237 | 7,332,812 | 6,727,554 | |||
| Total liabilities: | 8,691,160 | 8,785,767 | 8,449,495 | 8,238,765 | 7,589,363 | 6,971,802 | |||
| Equity | |||||||||
| Equity, attributable to parent | 1,145,293 | 1,069,226 | 1,110,759 | 1,040,256 | 969,014 | 832,506 | |||
| Common stock | 463,280 | 462,404 | 461,800 | 460,687 | 459,389 | 358,598 | |||
| Treasury stock, value | (155,673) | (138,019) | (142,490) | (130,766) | (127,633) | (90,373) | |||
| Accumulated other comprehensive income (loss) | (66,191) | (102,394) | 15,155 | 5,571 | (9,589) | (49,788) | |||
| Retained earnings | 903,877 | 847,235 | 776,294 | 704,764 | 646,847 | 614,069 | |||
| Total equity: | 1,145,293 | 1,069,226 | 1,110,759 | 1,040,256 | 969,014 | 832,506 | |||
| TOTAL LIABILITIES AND EQUITY: | 9,836,453 | 9,854,993 | 9,560,254 | 9,279,021 | 8,558,377 | 7,804,308 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 407,918 | 331,236 | 318,088 | 329,466 | 325,868 | 275,378 | ||
| Net investment income | 407,918 | 331,236 | 318,088 | 329,466 | 325,332 | 272,552 | ||
| Cost of revenue | (4,657) | (4,585) | (12,054) | (10,000) | (3,813) | |||
| Cost of goods and services sold | (4,657) | (4,585) | (3,829) | (3,813) | ||||
| Provision for loan, lease, and other losses | (12,054) | (6,171) | ||||||
| Gross profit: | 403,261 | 326,651 | 318,088 | 317,412 | 315,868 | 271,565 | ||
| Operating expenses | (108,525) | (102,216) | (95,390) | (99,852) | (74,181) | |||
| Operating income: | 294,736 | 224,435 | 222,698 | 317,412 | 216,016 | 197,384 | ||
| Nonoperating income (expense) | 12,907 | 23,819 | 13,045 | (1,956) | (397) | 11,050 | ||
| Gains (losses) on sales of other real estate | (3) | 5,611 | (4) | 1,207 | (222) | 4,235 | ||
| Bank owned life insurance income | 5,338 | 6,100 | 4,897 | 4,789 | 4,557 | 6,815 | ||
| Net periodic defined benefits expense (reversal of expense), excluding service cost component | 7,572 | 12,108 | 8,152 | (7,952) | (4,732) | |||
| Interest and debt expense | (98,557) | (31,188) | (15,960) | (30,090) | (62,763) | (43,903) | ||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (31,548) | (130,721) | (28,085) | (33,232) | ||||
| Income from continuing operations before equity method investments, income taxes: | 209,086 | 217,066 | 188,235 | 154,645 | 124,771 | 131,299 | ||
| Loss from equity method investments | ||||||||
| Other undisclosed loss from continuing operations before income taxes | (55,482) | (36,607) | ||||||
| Income from continuing operations before income taxes: | 153,604 | 180,459 | 188,235 | 154,645 | 124,771 | 131,299 | ||
| Income tax expense | (26,870) | (32,108) | (34,290) | (26,722) | (22,071) | (20,912) | ||
| Income from continuing operations: | 126,734 | 148,351 | 153,945 | 127,923 | 102,700 | 110,387 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 153,945 | 127,923 | 102,700 | 110,387 | |
| Other undisclosed net income | ||||||||
| Net income: | 126,734 | 148,351 | 153,945 | 127,923 | 102,700 | 110,387 | ||
| Other undisclosed net loss attributable to parent | ||||||||
| Net income available to common stockholders, diluted: | 126,734 | 148,351 | 153,945 | 127,923 | 102,700 | 110,387 | ||
Comprehensive Income ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 126,734 | 148,351 | 153,945 | 127,923 | 102,700 | 110,387 | ||
| Other comprehensive income (loss) | 36,203 | (117,549) | 9,584 | 15,160 | 40,199 | (18,533) | ||
| Comprehensive income: | 162,937 | 30,802 | 163,529 | 143,083 | 142,899 | 91,854 | ||
| Other undisclosed comprehensive loss, net of tax, attributable to parent | ||||||||
| Comprehensive income, net of tax, attributable to parent: | 162,937 | 30,802 | 163,529 | 143,083 | 142,899 | 91,854 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.