XML 36 R17.htm IDEA: XBRL DOCUMENT
v3.22.4

Foreclosed and Repossessed Assets | 12 Months Ended
--- | ---
Dec. 31, 2022
Other Assets [Abstract] |
Real Estate Owned [Text Block] | Foreclosed and Repossessed Assets Park typically transfers a loan to OREO at the time that Park takes deed/title to the real estate property asset. The carrying amount of foreclosed properties held at December 31, 2022 and December 31, 2021 are listed below, as well as the recorded investment of loans secured by residential real estate properties for which formal foreclosure proceedings were in process at those dates.
(In thousands) |  | December 31, 2022 |  | December 31, 2021
OREO: |  |  |  |
Commercial real estate |  | $ | 1,354 |  |  | $ | — |
Residential real estate |  | — |  |  | 775 |
Total OREO |  | $ | 1,354 |  |  | $ | 775 |
Loans in process of foreclosure: |  |  |  |
Residential real estate |  | $ | 1,614 |  |  | $ | 1,148 |
Assets acquired through or in lieu of loan foreclosure are initially recorded at fair value less costs to sell when acquired. During the year ended December 31, 2022, Park recognized a $12.0 million OREO valuation markup related to the foreclosure and subsequent sale of a property collateralizing a former Vision Bank relationship. This income is included in "OREO valuation markup" on the Consolidated Statements of Income. There was no OREO valuation markup related to former Vision Bank relationships during the year ended December 31, 2021. During the year ended December 31, 2022, Park recognized a $5.6 million gain on the sale of OREO related to former Vision Bank relationships. This income is included in "Gain (loss) on the sale of OREO, net" on the Consolidated Statements of Income. There was no gain or loss on the sale of OREO related to former Vision Bank relationships during the year ended December 31, 2021. In addition to real estate, Park may also repossess different types of collateral. As of December 31, 2022 and December 31, 2021, Park had $0.6 million and $3.3 million in other repossessed assets which are included in "Other assets" on the Consolidated Balance Sheets. At December 31, 2021, the other repossessed assets largely consisted of an aircraft acquired as part of a loan workout.

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

X
- Definition The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=124259787&loc=d3e4437-111522 + Details
Name: | us-gaap_RealEstateOwnedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration