XML 27 R16.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Earnings Per Common Share | 9 Months Ended
--- | ---
Sep. 30, 2018
Earnings Per Share [Abstract] |
Earnings Per Common Share | Earnings Per Common Share The following table sets forth the computation of basic and diluted earnings per common share for the three and nine months ended September 30, 2018 and 2017.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands, except share and per common share data) |  | 2018 |  | 2017 |  | 2018 |  | 2017
Numerator: |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 24,762 |  |  | $ | 22,112 |  |  | $ | 84,126 |  |  | $ | 61,411 |
Denominator: |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding |  | 15,686,542 |  |  | 15,287,974 |  |  | 15,420,135 |  |  | 15,299,039 |
Effect of dilutive restricted stock units |  | 146,192 |  |  | 63,616 |  |  | 140,531 |  |  | 95,160 |
Weighted-average common shares outstanding adjusted for the effect of dilutive restricted stock units |  | 15,832,734 |  |  | 15,351,590 |  |  | 15,560,666 |  |  | 15,394,199 |
Earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |
Basic earnings per common share |  | $ | 1.58 |  |  | $ | 1.45 |  |  | $ | 5.46 |  |  | $ | 4.01 |
Diluted earnings per common share |  | $ | 1.56 |  |  | $ | 1.44 |  |  | $ | 5.41 |  |  | $ | 3.99 |
Park awarded 48,053 and 45,788 performance based restricted stock units ("PBRSUs") to certain employees during the nine months ended September 30, 2018 and 2017, respectively. No PBRSUs were awarded during the three months ended either September 30, 2018 or 2017. On July 1, 2018, Park issued 435,457 common shares to complete its acquisition of NewDominion and granted 13,637 restricted stock units ("RSUs") to NewDominion employees. These common shares are included in average common shares outstanding beginning on that date. Park repurchased 50,000 common shares during the nine months ended September 30, 2018 to fund the PBRSUs, RSUs and common shares to be awarded to directors of Park and to directors of Park's subsidiary PNB (and its divisions). No common shares were repurchased during the three months ended September 30, 2018. Park repurchased 20,000 common shares during the three months ended September 30, 2017, and repurchased 70,000 common shares during the nine months ended September 30, 2017 to fund the PBRSUs and common shares to be awarded to directors of Park and to directors of Park's subsidiary PNB (and its divisions).

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

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration