earnings
confidence high
sentiment negative
materiality 0.70
Park National Q1 net income falls 9.2% YoY to $38.9M; mortgage originations drop 47%
PARK NATIONAL CORP /OH/
2022-Q1 EPS reported
$2.38
- Net income of $38.9M, down 9.2% from $42.8M in Q1 2021.
- Net interest income $79.4M (-3.3% YoY); other income $31.2M (-4.7% YoY).
- PNB segment net income $41.5M vs $45.1M in Q1 2021; mortgage originations tumbled 47% to $160M.
- Recovery of credit losses of $4.5M, compared to $4.2M in prior-year quarter.
- PPP loans declined to $37.4M at quarter-end from $387M a year ago.