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Other Investment Securities | 3 Months Ended
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Mar. 31, 2020
Other Investment Securities [Abstract] |
Other Investment Securities, | Other Investment Securities Other investment securities consist of stock investments in the FHLB, the FRB, and equity securities. The FHLB and FRB stock investments are carried at their redemption value. Equity securities with a readily determinable fair value are carried at fair value. Equity securities without a readily determinable fair value are recorded at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions ("modified cost"). Park's portfolio of equity investments in limited partnerships which provide mezzanine funding ("Partnership Investments") are valued using the NAV practical expedient in accordance with ASC 820. The carrying amounts of other investment securities at March 31, 2020 and December 31, 2019 were as follows:
(In thousands) |  | March 31, 2020 |  | December 31, 2019
FHLB stock |  | $ | 28,843 |  |  | $ | 30,060 |
FRB stock |  | 14,653 |  |  | 14,653 |
Equity investments carried at fair value |  | 1,982 |  |  | 1,993 |
Equity investments carried at modified cost (1) |  | 2,689 |  |  | 2,689 |
Equity investments carried at net asset value |  | 20,521 |  |  | 20,411 |
Total other investment securities |  | $ | 68,688 |  |  | $ | 69,806 |
(1) There have been no impairments, downward adjustments, or upward adjustments made to equity investments carried at modified cost. During the three months ended March 31, 2020 and 2019, the FHLB repurchased 12,163 and 54,053 shares, respectively, of FHLB stock with a book value of $1.2 million and $5.4 million, respectively. During the three months ended March 31, 2019, Park purchased 51,722 shares of FRB stock, with a book value of $2.6 million. No shares of FRB stock were purchased during the three months ended March 31, 2020. During the three months ended March 31, 2020 and 2019, $(769,000) and $121,000, respectively, of unrealized (losses) gains on equity investments carried at fair value were recorded within "(Loss) gain on equity securities, net" on the Consolidated Condensed Statements of Income. During the three months ended March 31, 2020 and 2019, $(0.2) million and $1.6 million, respectively, of (losses) gains on equity investments carried at NAV were recorded within “(Loss) gain on equity securities, net” on the Consolidated Condensed Statements of Income.

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