Park National Q2 net income falls 8% YoY to $31.6M; NII up 9.1%

PARK NATIONAL CORP /OH/

2023-Q2 EPS reported $4.01

Net income $31.6M (diluted EPS not provided) vs $34.3M Q2 2022 (-8%); pre-tax pre-provision $40.7M (-9.7%).
Net interest income $91.6M (+9.1% YoY) driven by loan growth and higher yields; NIM expansion likely.
PNB segment net income $35.5M in Q2, down from $36.3M in Q1; YTD PNB net income $71.8M vs $76.4M prior year.
Deposits (incl. off-balance sheet) $8.36B, down 1.2% QoQ; uninsured deposits $1.4B (17% of total, $301M collateralized).
Loans $7.21B, up 0.9% from Dec 2022; net charge-offs 0.07% of avg loans in Q2 vs 0.02% a year ago.

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 0.9

PARK NATIONAL CORP /OH/ reported financial results for six months ended June 30, 2023.

Period: six months ended June 30, 2023
Result: reported results

Exact text from the filing

On July 24, 2023, Park National Corporation (“Park”) issued a news release (the “Financial Results News Release”) announcing financial results for the three months and the six months ended June 30, 2023.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PARK NATIONAL CORP /OH/ reported financial results for three months ended June 30, 2023.

Period: three months ended June 30, 2023
Result: reported results

Exact text from the filing

On July 24, 2023, Park National Corporation (“Park”) issued a news release (the “Financial Results News Release”) announcing financial results for the three months and the six months ended June 30, 2023.

View on SEC.gov

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PARK NATIONAL CORP /OH/ filing history →

Source: SEC EDGAR

accession 0000805676-23-000102

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