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Long-Term Debt | 12 Months Ended
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Dec. 31, 2020
Debt Disclosure [Abstract] |
Long-Term Debt | Long-Term Debt Long-term debt is listed below:
December 31, |  | 2020 |  | 2019
(In thousands) |  | Outstanding Balance |  | Interest Rate |  | Outstanding Balance |  | Interest Rate
Total Federal Home Loan Bank advances by year of maturity: |  |  |  |  |  |  |  |
2020 |  | $ | — |  |  | — | % |  | $ | — |  |  | — | %
2021 |  | — |  |  | — | % |  | — |  |  | — | %
2022 |  | — |  |  | — | % |  | 50,000 |  |  | 3.01 | %
2023 |  | — |  |  | — | % |  | 100,000 |  |  | 3.40 | %
2024 |  | — |  |  | — | % |  | — |  |  | — | %
2025 |  | — |  |  | — | % |  | — |  |  | — | %
Thereafter |  | — |  |  | — | % |  | — |  |  | — | %
Total |  | $ | — |  |  | — | % |  | $ | 150,000 |  |  | 3.27 | %
Total U.S. Bank term note by year of maturity: |  |  |  |  |  |  |  |
2022 |  | $ | 32,500 |  |  | 1.84 | % |  | 42,500 |  |  | 3.40 | %
Total |  | $ | 32,500 |  |  | 1.84 | % |  | 42,500 |  |  | 3.40 | %
Total combined long-term debt by year of maturity: |  |  |  |  |  |  |  |
2020 |  | $ | — |  |  | — | % |  | — |  |  | — | %
2021 |  | — |  |  | — | % |  | — |  |  | — | %
2022 |  | 32,500 |  |  | 1.84 | % |  | 92,500 |  |  | 3.19 | %
2023 |  | — |  |  | — | % |  | 100,000 |  |  | 3.40 | %
2024 |  | — |  |  | — | % |  | — |  |  | — | %
2025 |  | — |  |  | — | % |  | — |  |  | — | %
Thereafter |  | — |  |  | — | % |  | — |  |  | — | %
Total |  | $ | 32,500 |  |  | 1.84 | % |  | $ | 192,500 |  |  | 3.30 | %
Park had no long-term debt at December 31, 2020 with a contractual maturity longer than five years. On February 18, 2020, Park prepaid $50 million of FHLB advances, incurring a $1.8 million prepayment penalty recognized within "FHLB prepayment penalty" on the Consolidated Statement of Income for the year ended December 31, 2020. These advances had an average interest rate of 3.01% and maturity dates of March 14, 2022 and September 15, 2022. On December 3, 2020, Park prepaid $100 million of FHLB advances, incurring an $8.7 million prepayment penalty recognized within "FHLB prepayment penalty" on the Consolidated Statement of Income for the year ended December 31, 2020. These advances had an interest rate of 3.40% and a maturity date of December 1, 2023. At December 31, 2020 and December 31, 2019, FHLB advances were collateralized by investment securities owned by PNB and by various loans pledged under a blanket agreement by PNB. At December 31, 2020 and December 31, 2019, $14 million and $18 million, respectively, of investment securities were pledged as collateral for FHLB advances. At December 31, 2020 and December 31, 2019, $1,521 million and $1,566 million, respectively, of commercial real estate and residential mortgage loans were pledged under a blanket agreement to the FHLB by PNB. On June 20, 2019, Park issued a $50 million term note to U.S. Bank National Association. This term note has a maturity date of June 21, 2022 and accrues interest at a floating rate of one-month LIBOR plus 1.65%. As of December 31, 2020, Park was in compliance with the covenants in the credit agreement related to the term note.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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