Park National Corporation reports financial results for first quarter 2022
NEWARK, Ohio — Park National Corporation (Park) (NYSE American: PRK) today reported financial results for the first quarter of 2022. Park’s board of directors declared a quarterly cash dividend of $1.04 per common share, payable on June 10, 2022 to common shareholders of record as of May 20, 2022.
“Many of our bankers returned to their offices April 4th. Our colleagues are genuinely happy to be together and to connect in person; the energy and engagement have been palpable,” said Park Chairman and Chief Executive Officer David Trautman. “Whether working in the office or remotely, we live and love to serve customers and help them on their financial journey.”
Park’s net income for the first quarter of 2022 was $38.9 million, a 9.2 percent decrease from $42.8 million for the first quarter of 2021. First quarter 2022 net income per diluted common share was $2.38, compared to $2.61 in the first quarter of 2021.
“We are excited to build upon the momentum generated from the growth in our commercial loan portfolio in the first quarter,” said Park President Matthew Miller. “Our bankers remain committed to deepening relationships and serving our clients, communities and shareholders more.”
Park’s community-banking subsidiary, The Park National Bank, reported net income of $41.5 million for the first quarter of 2022, an 8.1 percent decrease compared to $45.1 million for the same period of 2021.
Headquartered in Newark, Ohio, Park National Corporation has $9.6 billion in total assets (as of March 31, 2022). Park’s banking operations are conducted through its subsidiary The Park National Bank. Other Park subsidiaries are Scope Leasing, Inc. (d.b.a. Scope Aircraft Finance), Guardian Financial Services Company (d.b.a. Guardian Finance Company) and SE Property Holdings, LLC.
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