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Segment Reporting | 12 Months Ended
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Dec. 31, 2020
Segment Reporting [Abstract] |
Segment Information | Segment Information The Corporation is a financial holding company headquartered in Newark, Ohio. The operating segments for the Corporation are PNB and GFSC. "All Other", which primarily consists of Park as the "Parent Company" and SEPH, is shown to reconcile the segment totals to the consolidated statements of income. U.S. 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 U.S. GAAP as: (i) discrete financial information is available for each operating segment and (ii) 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, 2020 (In thousands)
|  | PNB |  |  | GFSC |  | All Other |  | Total
Net interest income (expense) |  | $ | 326,375 |  |  |  | $ | 3,785 |  |  | $ | (2,530) |  |  | $ | 327,630 |
Provision for (recovery of) loan losses |  | 30,813 |  |  |  | 196 |  |  | (18,955) |  |  | 12,054 |
Other income |  | 124,231 |  |  |  | 255 |  |  | 1,178 |  |  | 125,664 |
Other expense |  | 268,938 |  |  |  | 2,402 |  |  | 15,255 |  |  | 286,595 |
Income before income taxes |  | 150,855 |  |  |  | 1,442 |  |  | 2,348 |  |  | 154,645 |
Income tax expense (benefit) |  | 27,125 |  |  |  | 303 |  |  | (706) |  |  | 26,722 |
Net income |  | $ | 123,730 |  |  |  | $ | 1,139 |  |  | $ | 3,054 |  |  | $ | 127,923 |
Balances at December 31, 2020
Assets |  | $ | 9,236,915 |  |  |  | $ | 12,431 |  |  | $ | 29,675 |  |  | $ | 9,279,021 |
Loans |  | 7,165,840 |  |  |  | 12,757 |  |  | (812) |  |  | 7,177,785 |
Deposits |  | 7,820,983 |  |  |  | 2,273 |  |  | (250,898) |  |  | 7,572,358 |
Operating results for the year ended December 31, 2019 (In thousands)
|  | PNB |  |  | GFSC |  | All Other |  | Total
Net interest income (expense) |  | $ | 293,130 |  |  |  | $ | 5,013 |  |  | $ | (406) |  |  | $ | 297,737 |
Provision for (recovery of) loan losses |  | 8,356 |  |  |  | 754 |  |  | (2,939) |  |  | 6,171 |
Other income |  | 92,392 |  |  |  | 170 |  |  | 4,631 |  |  | 97,193 |
Other expense |  | 237,433 |  |  |  | 3,478 |  |  | 23,077 |  |  | 263,988 |
Income (loss) before income taxes |  | 139,733 |  |  |  | 951 |  |  | (15,913) |  |  | 124,771 |
Income tax expense (benefit) |  | 26,133 |  |  |  | 189 |  |  | (4,251) |  |  | 22,071 |
Net income (loss) |  | $ | 113,600 |  |  |  | $ | 762 |  |  | $ | (11,662) |  |  | $ | 102,700 |
Balances at December 31, 2019
Assets |  | $ | 8,521,537 |  |  |  | $ | 27,593 |  |  | $ | 9,247 |  |  | $ | 8,558,377 |
Loans |  | 6,481,644 |  |  |  | 28,143 |  |  | (8,383) |  |  | 6,501,404 |
Deposits |  | 7,125,111 |  |  |  | 3,919 |  |  | (76,418) |  |  | 7,052,612 |
Operating results for the year ended December 31, 2018 (In thousands)
|  | PNB |  |  | GFSC |  | All Other |  | Total
Net interest income |  | $ | 258,547 |  |  |  | $ | 5,048 |  |  | $ | 3,303 |  |  | $ | 266,898 |
Provision for (recovery of) loan losses |  | 7,569 |  |  |  | 1,328 |  |  | (952) |  |  | 7,945 |
Other income |  | 88,981 |  |  |  | 187 |  |  | 11,933 |  |  | 101,101 |
Other expense |  | 206,843 |  |  |  | 3,245 |  |  | 18,667 |  |  | 228,755 |
Income (loss) before income taxes |  | 133,116 |  |  |  | 662 |  |  | (2,479) |  |  | 131,299 |
Income tax expense (benefit) |  | 23,644 |  |  |  | 141 |  |  | (2,873) |  |  | 20,912 |
Net income |  | $ | 109,472 |  |  |  | $ | 521 |  |  | $ | 394 |  |  | $ | 110,387 |
Balances at December 31, 2018 |  |  |  |  |  |  |  |  |
Assets |  | $ | 7,753,848 |  |  |  | $ | 31,388 |  |  | $ | 19,072 |  |  | $ | 7,804,308 |
Loans |  | 5,671,173 |  |  |  | 32,664 |  |  | (11,705) |  |  | 5,692,132 |
Deposits |  | 6,334,796 |  |  |  | 4,142 |  |  | (78,078) |  |  | 6,260,860 |
The operating results in the "All Other" column are used to reconcile the segment totals to the Consolidated Statements of Income. The reconciling amounts for consolidated total assets, loans and deposits consist of the elimination of intersegment borrowings, intersegment loans, intersegment deposits, and the assets of the Parent Company and SEPH which were not eliminated. The following is a reconciliation of financial information for the reportable segments to the Corporation’s consolidated totals:
|  | 2020
(In thousands) |  | Net Interest Income |  | Depreciation Expense |  | Other Expense |  | Income Taxes |  | Assets |  | Deposits
Totals for reportable segments |  | $ | 330,160 |  |  | $ | 10,814 |  |  | $ | 260,526 |  |  | $ | 27,428 |  |  | $ | 9,249,346 |  |  | $ | 7,823,256 |
Elimination of intersegment items |  | 1,250 |  |  | — |  |  | — |  |  | — |  |  | (1,458) |  |  | (250,898) |
All other totals - not eliminated |  | (3,780) |  |  | — |  |  | 15,255 |  |  | (706) |  |  | 31,133 |  |  | — |
Totals |  | $ | 327,630 |  |  | $ | 10,814 |  |  | $ | 275,781 |  |  | $ | 26,722 |  |  | $ | 9,279,021 |  |  | $ | 7,572,358 |
|  | 2019
(In thousands) |  | Net Interest Income |  | Depreciation Expense |  | Other Expense |  | Income Taxes |  | Assets |  | Deposits
Totals for reportable segments |  | $ | 298,143 |  |  | $ | 9,112 |  |  | $ | 231,799 |  |  | $ | 26,322 |  |  | $ | 8,549,130 |  |  | $ | 7,129,030 |
Elimination of intersegment items |  | 1,250 |  |  | — |  |  | — |  |  | — |  |  | (19,231) |  |  | (76,418) |
All other totals - not eliminated |  | (1,656) |  |  | — |  |  | 23,077 |  |  | (4,251) |  |  | 28,478 |  |  | — |
Totals |  | $ | 297,737 |  |  | $ | 9,112 |  |  | $ | 254,876 |  |  | $ | 22,071 |  |  | $ | 8,558,377 |  |  | $ | 7,052,612 |
|  | 2018
(In thousands) |  | Net Interest Income |  | Depreciation Expense |  | Other Expense |  | Income Taxes |  | Assets |  | Deposits
Totals for reportable segments |  | $ | 263,595 |  |  | $ | 8,585 |  |  | $ | 201,503 |  |  | $ | 23,785 |  |  | $ | 7,785,236 |  |  | $ | 6,338,938 |
Elimination of intersegment items |  | 1,275 |  |  | — |  |  | — |  |  | — |  |  | (13,482) |  |  | (78,078) |
All other totals - not eliminated |  | 2,028 |  |  | — |  |  | 18,667 |  |  | (2,873) |  |  | 32,554 |  |  | — |
Totals |  | $ | 266,898 |  |  | $ | 8,585 |  |  | $ | 220,170 |  |  | $ | 20,912 |  |  | $ | 7,804,308 |  |  | $ | 6,260,860 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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