Park National Q1 net income down 13.2% to $33.7M; net interest income up 17.9% but other income falls 22.4%

PARK NATIONAL CORP /OH/

2023-Q1 EPS reported $2.07

Net income $33.7M vs. $38.9M YoY; pre-tax pre-provision net income $40.1M, down 4.5%.
PNB net interest income $93.6M (+17.9% YoY) on higher loan yields and volumes; loan yield 5.21%.
Other income fell 22.4% to $24.3M, driven by lower mortgage banking revenue ($61.2M originations, -61.8%).
Credit quality stable: net charge-offs $727K (0.04% annualized of avg loans); allowance $85.9M (1.21% of loans).

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PARK NATIONAL CORP /OH/ reported financial results for the three months ended March 31, 2023.

Period: the three months ended March 31, 2023
Result: reported results

Exact text from the filing

On April 21, 2023, Park National Corporation (“Park”) issued a news release (the “Financial Results News Release”) announcing financial results for the three months ended March 31, 2023.

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PARK NATIONAL CORP /OH/ filing history →

Source: SEC EDGAR

accession 0000805676-23-000067

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