other material
confidence high
sentiment positive
materiality 0.65
Park National subsidiary sells foreclosed property for $12.4M, expects $11.4M pre-tax gain
PARK NATIONAL CORP /OH/
- SEPH completed foreclosure on property securing a previously charged-off non-performing loan.
- Sold property to third-party for $12.4 million cash on August 5, 2022.
- Estimated pre-tax gain of $11.4 million ($9.0M net of tax) for Q3 2022 and FY 2022.
- Direct expenses of $1.0 million incurred in sale.