XML 54 R43.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Fair Value (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2018
Fair Value Disclosures [Abstract] |
Assets And Liabilities Measured At Fair Value On A Recurring Basis | The following table presents assets and liabilities measured at fair value on a recurring basis:
Fair Value Measurements at September 30, 2018 using:
(In thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Balance at September 30, 2018
Assets |  |  |  |  |  |  |  |  |  |  |  |
Investment securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government sponsored entities’ asset-backed securities |  | $ | — |  |  | $ | 1,032,265 |  |  | $ | — |  |  | $ | 1,032,265 |
Equity securities |  | 1,478 |  |  | — |  |  | 424 |  |  | 1,902 |
Mortgage loans held for sale |  | — |  |  | 6,441 |  |  | — |  |  | 6,441 |
Mortgage IRLCs |  | — |  |  | 128 |  |  | — |  |  | 128 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Fair value swap |  | $ | — |  |  | $ | — |  |  | $ | 226 |  |  | $ | 226 |
Fair Value Measurements at December 31, 2017 using:
(In thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Balance at December 31, 2017
Assets |  |  |  |  |  |  |  |  |  |  |  |
Investment securities: |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. Treasury and other U.S. Government sponsored entities |  | $ | — |  |  | $ | 242,720 |  |  | $ | — |  |  | $ | 242,720 |
U.S. Government sponsored entities’ asset-backed securities |  | — |  |  | 849,161 |  |  | — |  |  | 849,161 |
Equity securities |  | 1,518 |  |  | — |  |  | 417 |  |  | 1,935 |
Mortgage loans held for sale |  | — |  |  | 4,148 |  |  | — |  |  | 4,148 |
Mortgage IRLCs |  | — |  |  | 94 |  |  | — |  |  | 94 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Fair value swap |  | $ | — |  |  | $ | — |  |  | $ | 226 |  |  | $ | 226 |
Reconciliation Of Level 3 Input For Financial Instruments Measured On Recurring Basis | The table below presents a reconciliation of the beginning and ending balances of the Level 3 inputs for the three and six months ended September 30, 2018 and 2017, for financial instruments measured on a recurring basis and classified as Level 3: Level 3 Fair Value Measurements Three months ended September 30, 2018 and 2017
(In thousands) |  | Equity Securities |  | Fair value swap
Balance at July 1, 2018 |  | $ | 420 |  |  | $ | (226 | )
Total gains/(losses) |  |  |  |  |  |
Included in other income |  | 4 |  |  | — |
Balance at September 30, 2018 |  | $ | 424 |  |  | $ | (226 | )
Balance at July 1, 2017 |  | $ | 458 |  |  | $ | (226 | )
Total gains/(losses) |  |  |  |  |  |
Included in other comprehensive income |  | 37 |  |  | — |
Balance at September 30, 2017 |  | $ | 495 |  |  | $ | (226 | )
Level 3 Fair Value Measurements Nine months ended September 30, 2018 and 2017
(In thousands) |  | Equity Securities |  | Fair value swap
Balance at January 1, 2018 |  | $ | 417 |  |  | $ | (226 | )
Total gains/(losses) |  |  |  |  |  |
Included in other income |  | 7 |  |  | — |
Balance at September 30, 2018 |  | $ | 424 |  |  | $ | (226 | )
Balance at January 1, 2017 |  | $ | 790 |  |  | $ | (226 | )
Total gains/(losses) |  |  |  |  |  |
Transfers out of Level 3 (1) |  | (346 | ) |  | — |
Included in other comprehensive income |  | 51 |  |  | — |
Balance at September 30, 2017 |  | $ | 495 |  |  | $ | (226 | )
(1) Transfered from Level 3 to Level 1 as the result of a quoted market price becoming available.
Assets And Liabilities Measured At Fair Value On A Nonrecurring Basis | The following tables present assets and liabilities measured at fair value on a nonrecurring basis. Collateral dependent impaired loans are carried at fair value if they have been charged down to fair value or if a specific valuation allowance has been established. As of September 30, 2018, there were no PCI loans considered impaired. A new cost basis is established at the time a property is initially recorded in OREO. OREO properties are carried at fair value if a devaluation has been taken to the property's value subsequent to the initial measurement.
Fair Value Measurements at September 30, 2018 using:
(In thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Balance at September 30, 2018
Impaired loans recorded at fair value: |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  | $ | — |  |  | $ | — |  |  | $ | 4,020 |  |  | $ | 4,020 |
Construction real estate |  | — |  |  | — |  |  | 1,635 |  |  | 1,635 |
Residential real estate |  | — |  |  | — |  |  | 592 |  |  | 592 |
Total impaired loans recorded at fair value |  | $ | — |  |  | $ | — |  |  | $ | 6,247 |  |  | $ | 6,247 |
Mortgage servicing rights |  | $ | — |  |  | $ | 1,457 |  |  | $ | — |  |  | $ | 1,457 |
OREO: |  |  |  |  |  |  |  |
Commercial real estate |  | — |  |  | — |  |  | 2,295 |  |  | 2,295 |
Construction real estate |  | — |  |  | — |  |  | 889 |  |  | 889 |
Residential real estate |  | — |  |  | — |  |  | 679 |  |  | 679 |
Total OREO recorded at fair value |  | $ | — |  |  | $ | — |  |  | $ | 3,863 |  |  | $ | 3,863 |
Other repossessed assets |  | $ | — |  |  | $ | — |  |  | $ | 7,170 |  |  | $ | 7,170 |
Fair Value Measurements at December 31, 2017 using:
(In thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Balance at December 31, 2017
Impaired loans recorded at fair value: |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  | $ | — |  |  | $ | — |  |  | $ | 2,735 |  |  | $ | 2,735 |
Construction real estate |  | — |  |  | — |  |  | 127 |  |  | 127 |
Residential real estate |  | — |  |  | — |  |  | 712 |  |  | 712 |
Total impaired loans recorded at fair value |  | $ | — |  |  | $ | — |  |  | $ | 3,574 |  |  | $ | 3,574 |
Mortgage servicing rights |  | $ | — |  |  | $ | 7,316 |  |  | $ | — |  |  | $ | 7,316 |
OREO: |  |  |  |  |  |  |  |
Commercial real estate |  | — |  |  | — |  |  | 2,295 |  |  | 2,295 |
Construction real estate |  | — |  |  | — |  |  | 3,204 |  |  | 3,204 |
Residential real estate |  | — |  |  | — |  |  | 1,021 |  |  | 1,021 |
Total OREO recorded at fair value |  | $ | — |  |  | $ | — |  |  | $ | 6,520 |  |  | $ | 6,520 |
Schedule of impaired financing receivables additional info | The table below provides additional detail on those impaired loans which are recorded at fair value as well as the remaining impaired loan portfolio not included above. The remaining impaired loans consist of loans which are not collateral dependent as well as loans carried at cost as the fair value of the underlying collateral or the present value of expected future cash flows on each of the loans exceeded the book value for each respective credit.
|  | September 30, 2018
(In thousands) |  | Recorded Investment |  | Prior Charge-Offs |  | Specific Valuation Allowance |  | Carrying Balance
Impaired loans recorded at fair value |  | $ | 6,377 |  |  | $ | 3,708 |  |  | $ | 130 |  |  | $ | 6,247 |
Remaining impaired loans |  | 40,383 |  |  | 7,361 |  |  | 1,716 |  |  | 38,667 |
Total impaired loans |  | $ | 46,760 |  |  | $ | 11,069 |  |  | $ | 1,846 |  |  | $ | 44,914 |
|  | December 31, 2017
(In thousands) |  | Recorded Investment |  | Prior Charge-Offs |  | Specific Valuation Allowance |  | Carrying Balance
Impaired loans recorded at fair value |  | $ | 3,577 |  |  | $ | 2,780 |  |  | $ | 3 |  |  | $ | 3,574 |
Remaining impaired loans |  | 52,987 |  |  | 7,260 |  |  | 681 |  |  | 52,306 |
Total impaired loans |  | $ | 56,564 |  |  | $ | 10,040 |  |  | $ | 684 |  |  | $ | 55,880 |
Qualitative Information about Level 3 Fair Value Measurements Measured on Non-Recurring Basis | The following tables present qualitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at September 30, 2018 and December 31, 2017:
September 30, 2018
(In thousands) |  | Fair Value |  | Valuation Technique |  | Unobservable Input(s) |  | Range (Weighted Average)
Impaired loans: |  |  |  |  |  |  |  |  |
Commercial real estate |  | $ | 4,020 |  |  | Sales comparison approach |  | Adj to comparables |  | 0.0% - 55.0% (25.4%)
|  |  |  | Income approach |  | Capitalization rate |  | 10.6% - 11.8% (11.5%)
|  |  |  | Cost approach |  | Accumulated depreciation |  | 3.7% - 90.1% (12.9%)
Construction real estate |  | $ | 1,635 |  |  | Sales comparison approach |  | Adj to comparables |  | 5.0% - 90.0% (26.1%)
Residential real estate |  | $ | 592 |  |  | Sales comparison approach |  | Adj to comparables |  | 1.0% - 40.0% (18.5%)
|  |  |  | Income approach |  | Capitalization rate |  | 10.5% (10.5%)
Other real estate owned: |  |  |  |  |  |  |  |
Commercial real estate |  | $ | 2,295 |  |  | Sales comparison approach |  | Adj to comparables |  | 0.9% - 68.4% (34.7%)
|  |  |  | Income approach |  | Capitalization rate |  | 13.0% (13.0%)
Construction real estate |  | $ | 889 |  |  | Sales comparison approach |  | Adj to comparables |  | 0.0% - 45.0% (21.9%)
Residential real estate |  | $ | 679 |  |  | Sales comparison approach |  | Adj to comparables |  | 0.9% - 54.6% (40.7%)
Balance at December 31, 2017
(In thousands) |  | Fair Value |  | Valuation Technique |  | Unobservable Input(s) |  | Range (Weighted Average)
Impaired loans: |  |  |  |  |  |  |  |  |
Commercial real estate |  | $ | 2,735 |  |  | Sales comparison approach |  | Adj to comparables |  | 0.0% - 90.0% (22.7%)
|  |  |  | Income approach |  | Capitalization rate |  | 9.0% - 11.0% (9.9%)
|  |  |  | Cost approach |  | Accumulated depreciation |  | 90.1% (90.1%)
Construction real estate |  | $ | 127 |  |  | Sales comparison approach |  | Adj to comparables |  | 0.0% - 4.8% (2.4%)
Residential real estate |  | $ | 712 |  |  | Sales comparison approach |  | Adj to comparables |  | 0.3% - 33.0% (12.5%)
|  |  |  | Income approach |  | Capitalization rate |  | 10.5% (10.5%)
Other real estate owned: |  |  |  |  |  |  |  |
Commercial real estate |  | $ | 2,295 |  |  | Sales comparison approach |  | Adj to comparables |  | 0.9% - 68.4% (34.7%)
|  |  |  | Income approach |  | Capitalization rate |  | 13.0% (13.0%)
Construction real estate |  | $ | 3,204 |  |  | Sales comparison approach |  | Adj to comparables |  | 0.0% - 90.0% (24.5%)
|  |  |  | Bulk sale approach |  | Discount rate |  | 15.0% (15.0%)
Residential real estate |  | $ | 1,021 |  |  | Sales comparison approach |  | Adj to comparables |  | 1.2% - 79.7% (31.8%)
Fair Value, by Balance Sheet Grouping | The fair value of certain financial instruments at September 30, 2018 and December 31, 2017, was as follows:
|  | September 30, 2018
|  |  |  | Fair Value Measurements
(In thousands) |  | Carrying value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total fair value
Financial assets: |  |  |  |  |  |  |  |  |  |
Cash and money market instruments |  | $ | 144,604 |  |  | $ | 144,604 |  |  | $ | — |  |  | $ | — |  |  | $ | 144,604 |
Investment securities (1) |  | 1,382,907 |  |  | — |  |  | 1,376,606 |  |  | — |  |  | 1,376,606 |
Other investment securities (2) |  | 1,902 |  |  | 1,478 |  |  | — |  |  | 424 |  |  | 1,902 |
Loans held for sale |  | 6,441 |  |  | — |  |  | 6,441 |  |  | — |  |  | 6,441 |
Mortgage IRLCs |  | 128 |  |  | — |  |  | 128 |  |  | — |  |  | 128 |
Impaired loans carried at fair value |  | 6,247 |  |  | — |  |  | — |  |  | 6,247 |  |  | 6,247 |
Other loans, net (3) |  | 5,562,261 |  |  | — |  |  | — |  |  | 5,493,865 |  |  | 5,493,865 |
Loans receivable, net |  | $ | 5,575,077 |  |  | $ | — |  |  | $ | 6,569 |  |  | $ | 5,500,112 |  |  | $ | 5,506,681 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Time deposits |  | 1,090,117 |  |  | — |  |  | 1,089,966 |  |  | — |  |  | 1,089,966 |
Other |  | 5,186 |  |  | 5,186 |  |  | — |  |  | — |  |  | 5,186 |
Deposits (excluding demand deposits) |  | $ | 1,095,303 |  |  | $ | 5,186 |  |  | $ | 1,089,966 |  |  | $ | — |  |  | $ | 1,095,152 |
Short-term borrowings |  | $ | 179,818 |  |  | $ | — |  |  | $ | 179,818 |  |  | $ | — |  |  | $ | 179,818 |
Long-term debt |  | 400,000 |  |  | — |  |  | 397,640 |  |  | — |  |  | 397,640 |
Subordinated notes |  | 15,000 |  |  | — |  |  | 12,987 |  |  | — |  |  | 12,987 |
Derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value swap |  | $ | 226 |  |  | $ | — |  |  | $ | — |  |  | $ | 226 |  |  | $ | 226 |
(1) Includes debt securities AFS and debt securities HTM. (2) Excludes FHLB stock and FRB stock which are carried at their respective redemption values. Additionally, excludes investment securities accounted for at modified cost, as these investments do not have a readily determinable fair value. (3) Fair value calculated using an exit price notion consistent with Topic 820, Fair Value Measurement.
|  | December 31, 2017
|  |  |  | Fair Value Measurements
(In thousands) |  | Carrying value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total fair value
Financial assets: |  |  |  |  |  |  |  |  |  |
Cash and money market instruments |  | $ | 169,112 |  |  | $ | 169,112 |  |  | $ | — |  |  | $ | — |  |  | $ | 169,112 |
Investment securities (1) |  | 1,449,078 |  |  | — |  |  | 1,455,660 |  |  | — |  |  | 1,455,660 |
Other investment securities (2) |  | 1,935 |  |  | 1,518 |  |  | — |  |  | 417 |  |  | 1,935 |
Loans held for sale |  | 4,148 |  |  | — |  |  | 4,148 |  |  | — |  |  | 4,148 |
Mortgage IRLCs |  | 94 |  |  | — |  |  | 94 |  |  | — |  |  | 94 |
Impaired loans carried at fair value |  | 3,574 |  |  | — |  |  | — |  |  | 3,574 |  |  | 3,574 |
Other loans, net |  | 5,314,679 |  |  | — |  |  | — |  |  | 5,247,021 |  |  | 5,247,021 |
Loans receivable, net |  | $ | 5,322,495 |  |  | $ | — |  |  | $ | 4,242 |  |  | $ | 5,250,595 |  |  | $ | 5,254,837 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Time deposits |  | 1,033,476 |  |  | — |  |  | 1,035,093 |  |  | — |  |  | 1,035,093 |
Other |  | 1,269 |  |  | 1,269 |  |  | — |  |  | — |  |  | 1,269 |
Total deposits |  | $ | 1,034,745 |  |  | $ | 1,269 |  |  | $ | 1,035,093 |  |  | $ | — |  |  | $ | 1,036,362 |
Short-term borrowings |  | $ | 391,289 |  |  | $ | — |  |  | $ | 391,289 |  |  | $ | — |  |  | $ | 391,289 |
Long-term debt |  | 500,000 |  |  | — |  |  | 504,503 |  |  | — |  |  | 504,503 |
Subordinated notes |  | 15,000 |  |  | — |  |  | 13,370 |  |  | — |  |  | 13,370 |
Derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value swap |  | $ | 226 |  |  | $ | — |  |  | $ | — |  |  | $ | 226 |  |  | $ | 226 |
(1) Includes debt securities AFS and debt securities HTM. (2) Excludes FHLB stock and FRB stock which are carried at their respective redemption values. Additionally, excludes investment securities carried at their cost basis as these investments do not have a readily determinable fair value.

X
- Definition Reconciliation Of Level 3 Input For Financial Instruments Measured On Recurring Basis. + References No definition available. + Details
Name: | prk_ReconciliationOfLevel3InputForFinancialInstrumentsMeasuredOnRecurringBasis
Namespace Prefix: | prk_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block] + References No definition available. + Details
Name: | prk_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnNonrecurringBasisTableTextBlock
Namespace Prefix: | prk_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of impaired financing receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=84173941&loc=d3e5212-111524 + Details
Name: | us-gaap_ImpairedFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration