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Segment Information | 12 Months Ended
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Dec. 31, 2012
Segment Reporting [Abstract] |
Segment Information | Segment Information The Corporation is a bank holding company headquartered in Newark, Ohio. Prior to February 16, 2012, the operating segments for the Corporation were its two chartered bank subsidiaries, PNB (headquartered in Newark, Ohio) and Vision(headquartered in Panama City, Florida). On February 16, 2012, Vision sold certain assets and liabilities to Centennial Bank (See Note 3 of these Notes to Consolidated Financial Statements). Promptly following the closing of the transaction, Vision surrendered its Florida banking charter to the Florida Office of Financial Regulation and became a non-bank Florida corporation. The Florida Corporation merged with and into a wholly-owned non-bank subsidiary of Park, SEPH, with SEPH being the surviving entity. The closing of this transaction prompted Park to add SEPH as a reportable segment. Additionally, due to the increased significance of the entity, GFSC was added as a reportable segment in the first quarter of 2012. GAAP requires management to disclose information about the different types of business activities in which a company engages and also information on the different economic environments in which a company operates, so that the users of the financial statements can better understand a company’s performance, better understand the potential for future cash flows, and make more informed judgments about the company as a whole. Park’s current operating segments are in line with GAAP as there are: (i) three separate and distinct geographic markets in which Park operates, (ii) discrete financial information is available for each operating segment and (iii) the segments are aligned with internal reporting to Park’s Chief Executive Officer, who is the chief operating decision maker.
Operating results for the year ended December 31, 2012 (In thousands)
|  | PNB |  | VB |  | GFSC |  | SEPH |  | All Other |  | Total
Net interest income |  | $ | 221,758 |  |  | $ | — |  |  | $ | 9,156 |  |  | $ | (341 | ) |  | $ | 4,742 |  |  | $ | 235,315 |
Provision for loan losses |  | 16,678 |  |  | — |  |  | 859 |  |  | 17,882 |  |  | — |  |  | 35,419 |
Other income |  | 70,739 |  |  | — |  |  | — |  |  | 21,431 |  |  | 233 |  |  | 92,403 |
Other expense |  | 156,516 |  |  | — |  |  | 2,835 |  |  | 22,032 |  |  | 6,585 |  |  | 187,968 |
Income (loss) before taxes |  | 119,303 |  |  | — |  |  | 5,462 |  |  | (18,824 | ) |  | (1,610 | ) |  | 104,331 |
Income taxes (benefit) |  | 32,197 |  |  | — |  |  | 1,912 |  |  | (6,603 | ) |  | (1,805 | ) |  | 25,701 |
Net income (loss) |  | $ | 87,106 |  |  | $ | — |  |  | $ | 3,550 |  |  | $ | (12,221 | ) |  | $ | 195 |  |  | $ | 78,630 |
Balances at December 31, 2012
Assets |  | $ | 6,502,579 |  |  | $ | — |  |  | $ | 49,926 |  |  | $ | 104,428 |  |  | $ | (14,130 | ) |  | $ | 6,642,803 |
Loans |  | 4,369,173 |  |  | — |  |  | 50,082 |  |  | 59,178 |  |  | (28,111 | ) |  | 4,450,322 |
Deposits |  | 4,814,107 |  |  | — |  |  | 8,358 |  |  | — |  |  | (106,433 | ) |  | 4,716,032 |
Operating results for the year ended December 31, 2011 (In thousands)
|  | PNB |  | VB |  | GFSC |  | SEPH |  | All Other |  | Total
Net interest income |  | $ | 236,282 |  |  | $ | 27,078 |  |  | $ | 8,693 |  |  | $ | (974 | ) |  | $ | 2,155 |  |  | $ | 273,234 |
Provision for loan losses |  | 30,220 |  |  | 31,052 |  |  | 2,000 |  |  | — |  |  | — |  |  | 63,272 |
Other income (loss) |  | 90,982 |  |  | 6,617 |  |  | — |  |  | (3,039 | ) |  | 350 |  |  | 94,910 |
Other expense |  | 146,235 |  |  | 31,379 |  |  | 2,506 |  |  | 1,082 |  |  | 7,115 |  |  | 188,317 |
Income (loss) before taxes |  | 150,809 |  |  | (28,736 | ) |  | 4,187 |  |  | (5,095 | ) |  | (4,610 | ) |  | 116,555 |
Income taxes (benefit) |  | 43,958 |  |  | (6,210 | ) |  | 1,466 |  |  | (1,784 | ) |  | (3,015 | ) |  | 34,415 |
Net income (loss) |  | $ | 106,851 |  |  | $ | (22,526 | ) |  | $ | 2,721 |  |  | $ | (3,311 | ) |  | $ | (1,595 | ) |  | $ | 82,140 |
Balances at December 31, 2011
Assets |  | $ | 6,281,747 |  |  | $ | 650,935 |  |  | $ | 46,682 |  |  | $ | 34,989 |  |  | $ | (42,108 | ) |  | $ | 6,972,245 |
Assets held for sale (1) |  | — |  |  | 382,462 |  |  | — |  |  | — |  |  | — |  |  | 382,462 |
Loans |  | 4,172,424 |  |  | 123,883 |  |  | 47,111 |  |  | — |  |  | (26,319 | ) |  | 4,317,099 |
Deposits |  | 4,611,646 |  |  | 32 |  |  | 8,013 |  |  | — |  |  | (154,577 | ) |  | 4,465,114 |
Liabilities held for sale (2) |  | — |  |  | 536,186 |  |  | — |  |  | — |  |  | — |  |  | 536,186 |
Operating results for the year ended December 31, 2010 (In thousands)
|  | PNB |  | VB |  | GFSC |  | SEPH |  | All Other |  | Total
Net interest income |  | $ | 237,281 |  |  | $ | 27,867 |  |  | $ | 7,611 |  |  | $ | — |  |  | $ | 1,285 |  |  | $ | 274,044 |
Provision for loan losses |  | 23,474 |  |  | 61,407 |  |  | 2,199 |  |  | — |  |  | — |  |  | 87,080 |
Other income (loss) |  | 80,512 |  |  | (6,024 | ) |  | 2 |  |  | — |  |  | 390 |  |  | 74,880 |
Other expense |  | 144,051 |  |  | 31,623 |  |  | 2,326 |  |  | — |  |  | 9,107 |  |  | 187,107 |
Income (loss) before taxes |  | 150,268 |  |  | (71,187 | ) |  | 3,088 |  |  | — |  |  | (7,432 | ) |  | 74,737 |
Income taxes (benefit) |  | 47,320 |  |  | (25,773 | ) |  | 1,082 |  |  | — |  |  | (5,993 | ) |  | 16,636 |
Net income (loss) |  | $ | 102,948 |  |  | $ | (45,414 | ) |  | $ | 2,006 |  |  | $ | — |  |  | $ | (1,439 | ) |  | $ | 58,101 |
Balances at December 31, 2010 |  |  |  |  |  |  |  |  |  |  |  |
Assets |  | $ | 6,495,558 |  |  | $ | 791,945 |  |  | $ | 43,209 |  |  | $ | — |  |  | $ | (48,451 | ) |  | $ | 7,282,261 |
Loans |  | 4,074,775 |  |  | 640,580 |  |  | 43,714 |  |  | — |  |  | (26,384 | ) |  | 4,732,685 |
Deposits |  | 4,622,693 |  |  | 633,432 |  |  | 7,062 |  |  | — |  |  | (167,767 | ) |  | 5,095,420 |
(1) | The assets held for sale represent the loans and other assets at Vision Bank that were sold in the first quarter of 2012.
(2) | The liabilities held for sale represent the deposits and other liabilities at Vision Bank that were sold in the first quarter of 2012.
The following is a reconciliation of financial information for the reportable segments to the Corporation’s consolidated totals:
|  | 2012
(In thousands) |  | Net Interest Income |  | Depreciation Expense |  | Other Expense |  | Income Taxes |  | Assets |  | Deposits
Totals for reportable segments |  | $ | 230,573 |  |  | $ | 6,954 |  |  | $ | 174,429 |  |  | $ | 27,506 |  |  | $ | 6,656,933 |  |  | $ | 4,822,465 |
Elimination of intersegment items |  | (4,948 | ) |  | — |  |  | — |  |  | — |  |  | (35,639 | ) |  | (106,433 | )
Parent Co. totals - not eliminated |  | 9,690 |  |  | — |  |  | 6,585 |  |  | (1,805 | ) |  | 21,509 |  |  | — |
Totals |  | $ | 235,315 |  |  | $ | 6,954 |  |  | $ | 181,014 |  |  | $ | 25,701 |  |  | $ | 6,642,803 |  |  | $ | 4,716,032 |
|  | 2011
(In thousands) |  | Net Interest Income |  | Depreciation Expense |  | Other Expense |  | Income Taxes |  | Assets |  | Deposits
Totals for reportable segments |  | $ | 271,079 |  |  | $ | 7,583 |  |  | $ | 173,619 |  |  | $ | 37,430 |  |  | $ | 7,014,353 |  |  | $ | 4,619,691 |
Elimination of intersegment items |  | (974 | ) |  | — |  |  | — |  |  | — |  |  | (63,243 | ) |  | (154,577 | )
Parent Co. totals - not eliminated |  | 3,129 |  |  | — |  |  | 7,115 |  |  | (3,015 | ) |  | 21,135 |  |  | — |
Totals |  | $ | 273,234 |  |  | $ | 7,583 |  |  | $ | 180,734 |  |  | $ | 34,415 |  |  | $ | 6,972,245 |  |  | $ | 4,465,114 |
|  | 2010
(In thousands) |  | Net Interest Income |  | Depreciation Expense |  | Other Expense |  | Income Taxes |  | Assets |  | Deposits
Totals for reportable segments |  | $ | 272,759 |  |  | $ | 7,126 |  |  | $ | 170,874 |  |  | $ | 22,629 |  |  | $ | 7,330,712 |  |  | $ | 5,263,187 |
Elimination of intersegment items |  | — |  |  | — |  |  | — |  |  | — |  |  | (77,876 | ) |  | (167,767 | )
Parent Co. totals - not eliminated |  | 1,285 |  |  | — |  |  | 9,107 |  |  | (5,993 | ) |  | 29,425 |  |  | — |
Totals |  | $ | 274,044 |  |  | $ | 7,126 |  |  | $ | 179,981 |  |  | $ | 16,636 |  |  | $ | 7,282,261 |  |  | $ | 5,095,420 |

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