Park National Q4 net income falls 25.9% to $24.5M; full year down 14.6%

PARK NATIONAL CORP /OH/

2023-FY EPS reported $7.80 revenue$564,304,000

Net income Q4 2023 $24.5M vs $33.1M YoY; full year $126.7M vs $148.4M (down 14.6%).
Net interest income Q4 $95.1M, up 0.5% YoY; loans grew 4.7% from Dec 2022.
Pre-tax pre-provision net income Q4 $31.6M, down 27.2% from $43.3M in Q4 2022.
Recorded $7.9M pre-tax loss on sale of $291M AFS debt securities in Nov 2023.
CEO Trautman 2024 base salary $750,000; 2023 incentive $364,000; PBRSU target $575,000.

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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 and the twelve months ended December 31, 2023.

Period: the three months and the twelve months ended December 31, 2023
Result: reported results

Exact text from the filing

On January 22, 2024, Park National Corporation (“Park”) issued a news release (the “Financial Results News Release”) announcing financial results for the three months and the twelve months ended December 31, 2023.

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

PARK NATIONAL CORP /OH/: Amended Code of Business Conduct and Ethics to improve readability, remove duplication, and incorporate current governance best practices, including hiring practices (effective 2024-01-22).

Change: code of ethics
Effective: 2024-01-22

Exact text from the filing

On January 22, 2024, the Board of Directors (the “Park Board”) of Park approved certain amendments to Park’s Code of Business Conduct and Ethics (the “Code”).

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PARK NATIONAL CORP /OH/ filing history →

Source: SEC EDGAR

accession 0000805676-24-000005

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