Park National posts 2022 net income of $148.4M, down 3.6% YoY; director retiring

PARK NATIONAL CORP /OH/

2022-FY EPS reported $9.06 revenue$514,182,000

Net income $148.4M vs $153.9M in 2021; pre-tax pre-provision net income up 4.9% to $185.0M.
PNB net interest income rose 6.8% to $350.6M; loan growth ex-PPP was 5.0% YoY.
Credit quality strong: net charge-offs 0.03% of avg loans vs net recoveries 0.05% in 2021.
Director Alicia Hupp to retire April 2023, board size reduced to 13; one-time bonuses $3.2M.
PPP loan balance declined to $4.2M at year-end; $33.1M total SBA fees received through 2022.

item 2.02 item 7.01 item 5.02 item 8.01 item 9.01

Executive movements

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Departed

Alicia J. Hupp

Director

PRK · PARK NATIONAL CORP /OH/

Effective: 2023-04-24
Filed: January 23, 2023, 6:59 PM ET

On January 23, 2023, Alicia J. Hupp, who currently serves in the class of directors of Park who terms will expire at the 2023 Annual Meeting of Shareholders of Park (the "2023 Annual Meeting"), notified Park that she has decided to retire and not stand for re-election to the Board of Directors of Park.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PARK NATIONAL CORP /OH/ reported financial results for the twelve months (full year) ended December 31, 2022.

Period: the twelve months (full year) ended December 31, 2022
Result: reported results

Exact text from the filing

On January 23, 2023, Park National Corporation (“Park”) issued a news release (the “Financial Results News Release”) announcing financial results for the three months (fourth quarter) and the twelve months (full year) ended December 31, 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PARK NATIONAL CORP /OH/ reported financial results for the three months (fourth quarter) ended December 31, 2022.

Period: the three months (fourth quarter) ended December 31, 2022
Result: reported results

Exact text from the filing

On January 23, 2023, Park National Corporation (“Park”) issued a news release (the “Financial Results News Release”) announcing financial results for the three months (fourth quarter) and the twelve months (full year) ended December 31, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Alicia J. Hupp departed as Director at PARK NATIONAL CORP /OH/.

Action: retired and not standing for re-election
Role: Director

Exact text from the filing

On January 23, 2023, Alicia J. Hupp, who currently serves in the class of directors of Park who terms will expire at the 2023 Annual Meeting of Shareholders of Park (the "2023 Annual Meeting"), notified Park that she has decided to retire and not stand for re-election to the Board of Directors of Park.

View on SEC.gov

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Source: SEC EDGAR

accession 0000805676-23-000005

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