olivLaw · US equity research
Park National Corporation PRK
National Commercial Banks · SIC 6021 · Vertical: National Commercial Banks (SIC 6021)
Park National Corporation is a financial holding company based in Newark, Ohio, whose Park National Bank provides commercial banking, consumer banking and wealth management with a focus on small and medium population areas in Ohio, Kentucky, North Carolina and South Carolina. The company expanded in 2026 through the First Citizens acquisition, and total assets of $12.6 billion as of September 30, 2026 have passed the $10 billion threshold that brings new regulatory obligations.
At the close of 02 Nov 2026, Park National Corporation (PRK) stock was 183.02 USD (+4.24% on the day), with market capitalisation 3.3 bn USD, P/E 16.4 on diluted EPS of 11.17 USD over the last 12 months, dividend yield 3.05%, beta 0.79, 52-week range 149.73–212.56 USD. Latest reported quarter (Q2 2026): revenue of 211.9 m USD (+25.6% YoY), net income of 58.8 m USD (+22.1% YoY), diluted EPS 3.23 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 53.0
- neutral
- Bollinger (20, 2)
- 173.76 – 184.58
- in the upper half of the band · %B 0.86 · band width 6.0%
- SMA 50 / 200
- 184.36 / 177.99
- mixed trend
- MACD (12, 26, 9)
- -0.76 / -1.30
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −0.1% | −2.3% | +2.3 pp | — |
| 3 months | −11.8% | −0.8% | −11.0 pp | — |
| 6 months | +6.8% | +4.7% | +2.0 pp | — |
| Year to date | +20.3% | +10.2% | +10.1 pp | — |
| 1 year | +20.3% | +10.3% | +10.0 pp | +19.4% |
| 3 years | +67.8% | +73.0% | −5.3 pp | +72.9% |
| 5 years | +36.2% | +61.8% | −25.6 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 170.3 m | 164.7 m | 157.9 m | 168.7 m | 169.5 m | 168.3 m | 188.5 m | 211.9 m |
| Pre-tax income | 46.6 m | 47.3 m | 51.2 m | 59.3 m | 58.1 m | 52.7 m | 51.7 m | 72.9 m |
| Income tax | 8.4 m | 8.7 m | 9.0 m | 11.2 m | 10.9 m | 10.0 m | 10.0 m | 14.1 m |
| Net income | 38.2 m | 38.6 m | 42.2 m | 48.1 m | 47.2 m | 42.6 m | 41.7 m | 58.8 m |
| Diluted EPS | 2.35 | 2.37 ≈ | 2.60 | 2.97 | 2.92 | 2.63 ≈ | 2.39 | 3.23 |
| Operating cash flow | 43.8 m ≈ | 49.2 m | 37.7 m | 49.5 m ≈ | 52.9 m ≈ | 58.2 m | 30.9 m | 57.2 m ≈ |
| Capex | 2.1 m ≈ | 2.1 m | 1.1 m | 1.3 m ≈ | 1.5 m ≈ | 2.5 m | 4.3 m | 6.7 m ≈ |
| Dividends paid | 17.2 m ≈ | 25.2 m | 17.6 m | 17.8 m ≈ | 17.2 m ≈ | 37.3 m | 20.1 m | 20.5 m ≈ |
| Share repurchases | 0 ≈ | 0 | — | — | 0 ≈ | 0 | — | — |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 69 percentile of its own 39-quarter history (min 10.8, median 15.0, max 21.4; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | unavailable | unavailable | unavailable | unavailable | 514.2 m | 564.3 m | 645.6 m | 664.4 m |
| Revenue YoY | unavailable | unavailable | unavailable | unavailable | unavailable | +9.7% | +14.4% | +2.9% |
| Net income | 110.4 m | 102.7 m | 127.9 m | 153.9 m | 148.4 m | 126.7 m | 151.4 m | 180.1 m |
| Net income YoY | +31.0% | −7.0% | +24.6% | +20.3% | −3.6% | −14.6% | +19.5% | +18.9% |
| Diluted EPS | 7.07 | 6.29 | 7.80 | 9.37 | 9.06 | 7.80 | 9.32 | 11.11 |
| Diluted EPS YoY | +29.3% | −11.0% | +24.0% | +20.1% | −3.3% | −13.9% | +19.5% | +19.2% |
| net % | unavailable | unavailable | unavailable | unavailable | 28.9% | 22.5% | 23.5% | 27.1% |
| Free cash flow | 120.5 m | 96.7 m | 83.0 m | 143.2 m | 128.7 m | 143.5 m | 169.7 m | 191.9 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 233.5 m USD
- Financial debt
- 81.7 m USD
- Net debt
- -151.8 m USD
- Equity
- 1.4 bn USD
- Total assets
- 9.8 bn USD
- Debt / equity
- 0.06x
- Current ratio
- unavailable
- ROE
- 13.9%
- ROA
- 1.8%
- FCF margin
- 28.9%
Financial statements (source on every figure)
Revenue and net income (USD)
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Net interest income | 327.6 m | 329.9 m | 347.1 m | 373.1 m | 398.0 m | 437.3 m | SEC (XBRL)· 23 Feb 2026verified |
| Net fee income | 125.7 m | 129.9 m | 135.9 m | 92.6 m | 122.6 m | 119.9 m | SEC (XBRL)· 23 Feb 2026verified |
| Non-interest expense | 286.6 m | 283.5 m | 298.0 m | 309.2 m | 321.3 m | 324.4 m | SEC (XBRL)· 23 Feb 2026verified |
| Pre-tax income | 154.6 m | 188.2 m | 180.5 m | 153.6 m | 184.7 m | 221.3 m | SEC (XBRL)· 23 Feb 2026verified |
| Net income | 127.9 m | 153.9 m | 148.4 m | 126.7 m | 151.4 m | 180.1 m | SEC (XBRL)· 23 Feb 2026verified |
| Diluted EPS | 7.80 | 9.37 | 9.06 | 7.80 | 9.32 | 11.11 | SEC (XBRL)· 23 Feb 2026verified |
| Dividend per share | 4.28 | 4.52 | 4.66 | 4.20 | 4.74 | 5.53 | SEC (XBRL)· 23 Feb 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 370.5 m | 219.2 m | 189.7 m | 218.3 m | 160.6 m | 233.5 m | SEC (XBRL)· 23 Feb 2026verified |
| Loans | 7.1 bn | 6.8 bn | 7.1 bn | 7.4 bn | 7.7 bn | 8.0 bn | SEC (XBRL)· 11 May 2026verified |
| Total assets | 9.3 bn | 9.6 bn | 9.9 bn | 9.8 bn | 9.8 bn | 9.8 bn | SEC (XBRL)· 23 Feb 2026verified |
| Deposits | 7.6 bn | 7.9 bn | 8.2 bn | 8.0 bn | 8.1 bn | 8.2 bn | SEC (XBRL)· 23 Feb 2026verified |
| Short-term debt | 342.2 m | 238.8 m | 416.0 m | 517.3 m | 280.1 m | 81.7 m | SEC (XBRL)· 23 Feb 2026verified |
| Long-term debt | 32.5 m | — | — | — | — | — | SEC (XBRL)· 26 Feb 2021verified |
| Total liabilities | 8.2 bn | 8.4 bn | 8.8 bn | 8.7 bn | 8.6 bn | 8.5 bn | SEC (XBRL)· 23 Feb 2026verified |
| Equity | 1.0 bn | 1.1 bn | 1.1 bn | 1.1 bn | 1.2 bn | 1.4 bn | SEC (XBRL)· 23 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Dividends paid | 70.4 m | 74.3 m | 76.6 m | 69.0 m | 77.5 m | 89.9 m | SEC (XBRL)· 23 Feb 2026verified |
| Share repurchases | 7.5 m | 16.0 m | 0 | 23.0 m | 0 | 20.1 m | SEC (XBRL)· 23 Feb 2026verified |
Computed indicators
Growth
Profitability
Returns
Market and valuation
Banking
32 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 45 / 100
A scoring methodology on indicators and valuation, not investment advice.
(margin_of_safety <= -0.25 & agreement in ['high', 'medium'])
Closing price
02 Nov 2026Source: olivLaw, closing series
Market cap: 3.3 bn USD
Key indicators
Coverage and freshness
Score by group
- Quality53
- Growth72
- Valuation8
- Balance sheet25
- Returns65
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 72.67 – 144.34 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- Residual income97.07 – 101.42 (Mid 99.20)
- Justified P/B104.38 – 140.37 (Mid 119.73)
- Dividend discount (DDM)72.67 – 97.73 (Mid 83.36)
- Peers: P/E123.42 – 144.34 (Mid 131.99)32 companies used · median multiple 11.8x · quartiles 11.0x – 12.9xASRV, BAC, CAC, CASH, CBU, CFBK, CFR, CHCO, COF, DCBG, FHN, FULT, HAFC, HBAN, JPM, KEY, LCNB, MRBK, NBHC, NBTB, NKSH, ONB, PNC, RF, SFST, SHBI, TBBK, USB, WAFD, WFC, WSFS, ZION
- Peers: P/B97.07 – 131.11 (Mid 115.25)33 companies used · median multiple 1.2x · quartiles 1.0x – 1.4xASRV, BAC, BANC, C, CAC, CARE, CASH, CBU, CFBK, COF, DCBG, FHN, FULT, HAFC, HBAN, KEY, LCNB, MRBK, NBHC, NBTB, NKSH, ONB, PNC, RF, SFST, SHBI, SNUS-PH, UBS, USB, WAFD, WFC, WSFS, ZION
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 45/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROE · Quality | 11.0% | 41 (vs peers) | 19% |
| ROA · Quality | 1.7% | 92 (on a fixed band) | 7% |
| Cost-to-income · Quality | 59.9% | 21 (on a fixed band) | 12% |
| Net interest margin · Quality | 4.3% | 100 (on a fixed band) | 7% |
| EPS CAGR 3Y · Growth | 7.0% | 59 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | 8.9% | 89 (on a fixed band) | 7% |
| NPL ratio · Balance sheet | unavailable | unavailable | — |
| Cost of risk · Balance sheet | unavailable | unavailable | — |
| Loan-to-deposit · Balance sheet | 90.2% | 25 (on a fixed band) | 5% |
| P/B · Valuation | 1.9x | 11 (vs peers) | 12% |
| P/E (TTM) · Valuation | 16.4x | 6 (vs peers) | 12% |
| Dividend yield · Returns | 3.1% | 65 (vs peers) | 10% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial25/100 · 1/3 factors with a value
- Growth72/100 · 2/2 factors with a value
- Quality53/100 · 4/4 factors with a value
- Returns65/100 · 1/1 factors with a value
- Valuation8/100 · 2/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
PARK NATIONAL CORPORATION (PRK). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: net interest income 437.3 m USD in 2025; YoY growth 2.9%; net margin 25.8%; ROE 11.0%.
The estimated value range is 97.07–131.11 USD per share (median of 5 methods, agreement: high); assumptions are illustrative. Against the central value of 115.25 USD, the price of 183.02 USD leaves a potential of -37.0% (value / price − 1) and a margin of safety of -58.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 45/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROA: 1.7%
- Net interest margin: 4.3%
- Revenue CAGR 3Y: 8.9%
What contradicts it
- Cost-to-income: 59.9%
- Loan-to-deposit: 90.2%
- P/B: 1.9x
- P/E (TTM): 16.4x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): NPL ratio, Cost of risk.
Versus the vertical median
National Commercial Banks (SIC 6021) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| JPMJpmorgan Chase & Co | 905.3 bn | 14.5 | 17.8% | 35.7% | +2.8% | +9% / +118% |
| BACBofA Finance LLC | 342.0 bn | 11.7 | 10.8% | 26.8% | +6.8% | −8% / +63% |
| WFCWells Fargo & Company | 257.8 bn | 12.0 | 12.9% | — | −1.6% | +0% / +93% |
| CCitigroup Inc | 215.3 bn | 17.6 | 6.8% | 16.8% | +5.6% | +19% / +167% |
| UBSUBS Group AG | 162.0 bn | 20.5 | 8.9% | — | +7.0% | +26% / +72% |
| COFCapital One Financial Corp | 129.3 bn | 12.9 | 9.4% | 17.0% | +36.6% | −4% / +89% |
| USBUs Bancorp \de\ | 94.2 bn | 11.9 | 12.7% | 27.5% | +4.4% | +23% / +59% |
| PNCPnc Financial Services Group, Inc. | 92.4 bn | 12.5 | 12.6% | 30.6% | +7.2% | +21% / +73% |
| HBANHuntington Bancshares Incorporated | 32.3 bn | 12.9 | 9.1% | 133.3% | +6.4% | −2% / +42% |
| RFRegions Financial Corporation | 24.7 bn | 11.7 | 11.9% | — | +23.8% | +14% / +74% |
| KEYKeycorp | 22.9 bn | 12.3 | 10.3% | 26.0% | +62.7% | +17% / +73% |
| FHNFirst Horizon Corp | 11.2 bn | 11.3 | 11.6% | 29.9% | +7.2% | +6% / +85% |
| SNUS-PHSantander Holdings USA, Inc. | 11.0 bn | 6.2 | 10.8% | — | unavailable | unavailable / unavailable |
| CFRCullen/Frost Bankers, Inc. | 10.0 bn | 14.8 | 16.3% | 29.5% | +8.3% | +30% / +63% |
| ONBOld National Bancorp | 9.7 bn | 10.5 | 11.5% | — | +6.1% | +19% / +73% |
| ZIONZions Bancorporation, National Association | 9.7 bn | 8.5 | 16.4% | 168.7% | +3.6% | +25% / +86% |
| FULTFulton Financial Corp | 4.6 bn | 11.5 | 11.1% | 137.0% | −6.5% | +33% / +69% |
| WSFSWsfs Financial Corp | 4.1 bn | 13.5 | 11.9% | — | +50.2% | +44% / +109% |
| CBUCommunity Financial System, Inc. | 3.4 bn | 15.0 | 11.5% | 26.6% | +9.6% | +14% / +45% |
| PRKPark National Corporation | 3.3 bn | 16.4 | 11.0% | 25.8% | +2.9% | +20% / +68% |
| BANCBanc Of California, Inc. | 2.9 bn | — | -0.7% | -1.4% | −3.8% | +0% / +60% |
| NBTBNbt Bancorp Inc | 2.8 bn | 13.1 | 11.4% | 117.1% | +10.4% | +29% / +50% |
| WAFDWaFd, Inc. | 2.2 bn | 9.4 | 8.5% | 810.8% | +7.8% | −4% / +14% |
| CHCOCity Holding Company | 2.0 bn | 15.9 | 16.8% | 177.4% | +3.2% | +20% / +51% |
| TBBKThe Bancorp, Inc. | 1.9 bn | 8.7 | 29.6% | 164.3% | +20.8% | −28% / +18% |
1- and 3-year price returns: for PRK from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 106.48 Total return -39% · Per year -39% | 187.87 Total return 6% · Per year 6% | 282.46 Total return 58% · Per year 58% |
| 3 years | 112.73 Total return -31% · Per year -12% | 222.88 Total return 32% · Per year 10% | 366.57 Total return 113% · Per year 29% |
| 5 years | 119.34 Total return -22% · Per year -5% | 264.41 Total return 63% · Per year 10% | 475.72 Total return 185% · Per year 23% |
- Exit P/E± 55.72
- Net margin± 39.00
- Annual revenue growth± 30.72
- Annual dilution± 3.28
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Park National Corporation is a financial holding company based in Newark, Ohio, whose Park National Bank provides commercial banking, consumer banking and wealth management with a focus on small and medium population areas in Ohio, Kentucky, North Carolina and South Carolina. The company expanded in 2026 through the First Citizens acquisition, and total assets of $12.6 billion as of September 30, 2026 have passed the $10 billion threshold that brings new regulatory obligations.
SWOT
Strengths
- A diversified customer base and relationship-based banking are core strengths, and quarterly results have grown compared with the prior year 13.
- A steady dividend policy with periodic special dividends points to solid capitalization and a shareholder focus 13.
- A broad presence in small and medium population areas gives a branch network that would be hard for new entrants to replicate quickly 1.
Weaknesses
- Integration costs from the First Citizens acquisition reduced profit in some periods and could continue to weigh on profitability 3.
- Operating efficiency weakened in the third quarter of 2026 compared with the prior quarter, indicating cost pressure 3.
- Concentration in real estate and non-bank consumer lending exposes the bank to higher credit risk in a downturn 1.
Opportunities
Threats
- An economic recession could amplify credit losses, especially in commercial and real estate segments 1.
- Additional rules after passing the $10 billion asset threshold could raise compliance costs and reduce fee income 1.
- Cyber risks and attacks on third-party vendors could cause financial losses and erode customer trust 1.
Risks
- First Citizens integrationmedium
If cost savings and revenue synergies are not realized, financial results could fall short of expectations 3.
- Credit risk in a recessionhigh
An economic downturn could raise delinquencies and losses, especially in real estate and non-bank lending portfolios 1.
- Interest rate riskmedium
Sudden rate changes could affect the net interest margin and deposit costs 1.
- Regulatory riskmedium
Crossing the asset threshold could bring new compliance obligations and limits on interchange income 1.
- Operational and cyber riskmedium
System failures, cyber attacks and third-party vendor problems could lead to losses and reputational harm 1.
Investment thesis
What would need to be true (bull case)
- Rising profit and revenue after the acquisition could show that the First Citizens integration creates long-term value 23.
- The dividend policy and periodic special dividends could support the interest of income-focused investors 13.
- Growing deposits and a solid net interest margin could support profitability over the medium term 23.
What would break the thesis
What to watch
- Progress of First Citizens integration costs and operating efficiencyQ4 2026
- Loan portfolio quality and provision levels for credit losses2027
- Effect of the $10 billion threshold on CFPB supervision and interchange income2027
- Trend in net interest margin and deposit costsQ1 2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Park National Corporation is a financial holding company regulated under the Bank Holding Company Act, conducting its banking through Park National Bank, a national banking association. The bank offers deposits, commercial, industrial and consumer lending, home loans, trust and investment services, aircraft financing through Scope Aircraft Finance, and commercial cash management 1. Its common shares trade on NYSE American under the symbol PRK 1.
On February 1, 2026, First Citizens Bancshares merged into Park, and First Citizens National Bank merged into Park National Bank, with Park continuing as the surviving corporation 1. The deal brought about $2.6 billion in assets and $2.2 billion in deposits, making integration the main development of the recent period 13.
Park targets a dividend payout of 50% of net income and declared cash dividends of $5.53 per share in 2025, including a special dividend 1. The company reports one operating segment, and its credit activity is concentrated in the regions where the bank has offices 1.
Segments
Commercial and retail banking
The core segment covers commercial loans, home loans, consumer loans and deposits, delivered through 87 financial service offices in Ohio, Kentucky, North Carolina and South Carolina 1. Commercial loans made up about 42.9% of the total loan portfolio at December 31, 2025 1.
Aircraft finance and non-bank consumer lending
Scope Aircraft Finance, the aircraft financing unit, serves mainly small businesses and entrepreneurs across the U.S., while the bank also holds a portfolio of $274 million in loans to non-bank consumer finance companies 1. This segment carries a higher risk profile than typical commercial lending 1.
Wealth management and asset subsidiaries
The wealth management arm provides trust and investment services, Park Investments holds municipal bonds, and SE Property Holdings manages foreclosed properties and legacy loans from Vision Bank 1. New originations from the former Vision Bank book are described as insignificant 1.
Market context
Park operates mainly in small and medium population areas in Ohio, Kentucky and the Carcarolinas, along with the metropolitan areas of Columbus, Cincinnati, Charlotte, Louisville and Raleigh 1. After the First Citizens acquisition the footprint also includes Tennessee, and with assets above $10 billion the bank becomes subject to direct CFPB supervision 1.
Deposit and loan growth in 2026 was largely driven by the First Citizens transaction, which makes organic trends harder to separate in the most recent reports 23. The U.S. regional banking sector remains sensitive to rates and to the quality of real estate assets 1.
Trends
- First Citizens integrationmixed
The acquisition added significant assets, deposits and loans but also generated merger costs that weighed on quarterly profit, and future results could depend on how quickly cost savings are realized 3. Returns could differ from current expectations if synergies come in slower than planned.
- Regulatory obligations above $10 billion in assetsheadwind
Passing the asset threshold could bring direct CFPB supervision and caps on debit interchange fees, which could reduce fee income 1.
- Net interest income and margintailwind
The net interest margin rose in the third quarter of 2026 compared with the third quarter of 2025, pointing to favorable asset yields, but funding costs and rate changes could shift this balance 23.
- Inflation and credit costsheadwind
Inflation raises operating costs and can reduce borrowers' ability to repay, and a recession could increase loan loss provisions 1. Stress scenarios in the filing project a sharp rise in unemployment in a recession 1.
Competitive position
Park competes with other regional banks and financial institutions in its markets, and its filings cite competitive pressure among financial services organizations as a risk factor 3. The First Citizens acquisition places it in new positions in Tennessee and the Carolinas.
- Regional banks in Ohio and Kentucky
Direct competition for commercial loans and deposits in small and medium population areas, cited as competitive pressure in Park's filings 3.
- Banks in North and South Carolina
Competition in the Charlotte and Raleigh markets where Park is expanding 1.
- Aircraft finance lenders
Competition in aircraft financing, where Scope Aircraft Finance operates nationally 1.
- Banks in Tennessee
Competition in markets entered through the First Citizens acquisition 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report26 Oct 2026Results of operations · Regulation FD disclosure · Other events · Financial statements and exhibits
- Current report07 Aug 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report07 Aug 2026
- Current report27 Jul 2026Results of operations · Regulation FD disclosure · Other events · Financial statements and exhibits
- Current report22 May 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report11 May 2026
- Current report28 Apr 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Current report27 Apr 2026Regulation FD disclosure · Financial statements and exhibits
- Current report24 Apr 2026Results of operations · Regulation FD disclosure · Other events · Financial statements and exhibits
- Proxy statement09 Mar 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Park National Corporation · 23 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Park National Corporation · 07 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Park National Corporation · 26 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.