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Repurchase Agreement Borrowings | 12 Months Ended
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Dec. 31, 2024
Transfers of Financial Assets Accounted for as Secured Borrowings [Abstract] |
Securities Sold Under Agreements to Repurchase | 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 Balance Sheets. All repurchase agreements are subject to the terms and conditions of repurchase/security agreements between Park and the customer and are accounted for as secured borrowings. Park's repurchase agreements consisted of customer accounts and securities which are pledged on an individual security basis. At December 31, 2024 and December 31, 2023, Park's repurchase agreement borrowings totaled $90.4 million and $108.2 million, respectively. These borrowings were collateralized with U.S. government sponsored entities' asset-backed securities with a fair value of $124.1 million and $180.8 million at December 31, 2024 and December 31, 2023, respectively. Declines in the value of the collateral would require Park to pledge additional securities. As of December 31, 2024 and December 31, 2023, Park had $440.2 million and $847.5 million, respectively, of available unpledged securities. The following table presents the carrying value of Park's repurchase agreement borrowings by remaining contractual maturity and collateral pledged at December 31, 2024 and December 31, 2023:
|  | December 31, 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 sponsored entities' asset-backed securities |  | $ | 90,432 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 90,432 |
|  | 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 sponsored entities' asset-backed securities |  | $ | 108,182 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 108,182 |
See Note 16 - Short-Term Borrowings for additional information related to repurchase agreements.

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