Park National Corporation (PRK)

In the past six months, Park National Corp. reported a 22.2% increase in net income for Q2 2025 and a 21.1% increase for the first half of 2025. Matthew R. Miller was appointed CEO on July 29, 2025. The company reported a 23.4% increase in net income for Q3 2025. A quarterly cash dividend of $1.07 per common share and a special one-time dividend of $1.25 per common share were declared on October 27, 2025. Park National Corporation announced a definitive merger agreement to acquire First Citizens Bancshares, Inc. Piper Sandler maintained a "Neutral" recommendation for Park National. The stock has fluctuated between $137.97 and $194.66, trading at $154.89 as of November 27, 2025.

The banking industry experiences seasonal trends in loan demand, with lower demand in January and February, increasing demand in March, and a peak in August or September. This seasonality is influenced by interest rates and economic cycles. Regional banks may observe seasonally low loan demand during the first quarter of the year.

Park National Corp. is a financial holding company based in Newark, Ohio, operating in the regional banking industry through its subsidiary, Park National Bank. The company owns and supervises subsidiaries that offer commercial banking and trust services. Park National Bank provides retail banking, commercial banking, mortgage banking, and wealth management services. Additionally, the company offers aircraft financing through Scope Leasing, Inc. and consumer finance services via Guardian Financial Services Company.

Park National Corp. has a significant presence across Ohio, Kentucky, North Carolina, and South Carolina. The company operates through more than 85 offices and ATMs, focusing on small to medium population areas and metropolitan areas like Columbus and Cincinnati, Ohio; Charlotte, North Carolina; and Louisville, Kentucky.

Park National Corp. maintains a strong brand reputation, particularly in its regional markets. Park National Bank was recognized as the #1 Best Bank in Ohio by Forbes in 2024. The company received 25 corporate, regional, local, and individual honors in 2024. The company donated $4.8 million to organizations in 2024 and invested $1.7 million in employee bonuses. Two of its past five CEOs have been elected president of the American Bankers Association.

Park National Corp. is primarily owned by institutional shareholders (54.06%), followed by retail investors (34.15%), and Park National insiders (11.79%). Major institutional owners include BlackRock Inc., Vanguard Group Inc., Park National Corp., State Street Corp., and Dimensional Fund Advisors LP. Gilbert Reese is the largest individual shareholder, holding 3.19% of the company's shares.