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Repurchase Agreement Borrowings | 6 Months Ended
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Jun. 30, 2024
Transfers and Servicing [Abstract] |
Repurchase Agreement Borrowings | Repurchase Agreement Borrowings Securities sold under agreements to repurchase ("repurchase agreements") with customers represent funds deposited by customers, generally on an overnight basis, that are collateralized by investment securities owned by Park. Repurchase agreements with customers are included in "Short-term borrowings" on the consolidated condensed balance sheets. All repurchase agreements are subject to terms and conditions of repurchase/security agreements between Park and the customer and are accounted for as secured borrowings. Park's repurchase agreements consist of customer accounts and securities which are pledged on an individual security basis. At June 30, 2024 and at December 31, 2023, Park's repurchase agreement borrowings totaled $94.5 million and $108.2 million, respectively. These borrowings were collateralized with U.S. Government sponsored entities' asset-backed securities with a fair value of $124.6 million and $180.8 million at June 30, 2024 and at December 31, 2023, respectively. Declines in the value of the collateral would require Park to pledge additional securities. At June 30, 2024 and at December 31, 2023, Park had $534.9 million and $847.5 million, respectively, of available unpledged securities. The table below shows the remaining contractual maturity of repurchase agreements by collateral pledged at June 30, 2024 and at December 31, 2023:
|  | June 30, 2024
(in thousands) |  | Remaining Contractual Maturity of the Agreements
|  | Overnight and Continuous |  | Up to 30 days |  | 30 - 90 days |  | Greater than 90 days |  | Total
U.S. government and agency securities |  | $ | 94,478 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 94,478 |
|  | December 31, 2023
(in thousands) |  | Remaining Contractual Maturity of the Agreements
|  | Overnight and Continuous |  | Up to 30 days |  | 30 - 90 days |  | Greater than 90 days |  | Total
U.S. government and agency securities |  | $ | 108,182 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 108,182 |

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- Definition Tabular disclosure of the nature and risks of short-term collateralized financing obtained through repurchase agreements, securities lending transactions and repurchase-to-maturity transactions, accounted for as secured borrowings. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 860 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481420/860-30-50-7 + Details
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- References No definition available. + Details
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