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Loans
 12 Months Ended
Dec. 31, 2024
Loans and Leases Receivable Disclosure [Abstract]  
Loans Loans
The composition of the loan portfolio at December 31, 2024 and December 31, 2023 was as follows:
 
December 31, 2024December 31, 2023
(In thousands)Amortized CostAmortized Cost
Commercial, financial and agricultural: (1)
Commercial, financial and agricultural (1)
$1,267,263 $1,292,025 
PPP loans847 2,116 
Overdrafts1,475 1,499 
Commercial real estate (1)
1,994,332 1,875,993 
Construction real estate:
Commercial311,122 209,226 
Retail101,455 95,873 
Residential real estate: 
Commercial644,418 609,410 
Mortgage1,346,543 1,239,861 
HELOC203,459 174,349 
Installment6,013 5,904 
Consumer:
Consumer1,908,473 1,943,869 
Check loans1,899 2,067 
Leases29,829 24,029 
Total$7,817,128 $7,476,221 
Allowance for credit losses(87,966)(83,745)
Net loans$7,729,162 $7,392,476 
(1) Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that were not broken out by class.

Loans are shown net of deferred origination fees, costs and unearned income of $20.4 million at December 31, 2024, and of $19.8 million at December 31, 2023, which represented a net deferred income position in both years. At December 31, 2024 and December 31, 2023, loans included purchase accounting adjustments of $669,000 and $1.8 million, respectively, which represented a net deferred income position at each date. This fair market value purchase accounting adjustment is expected to be recognized into interest income on a level yield basis over the remaining expected life of the loans.

Overdrawn deposit accounts of $1.5 million were reclassified to loans at both December 31, 2024 and December 31, 2023.
Credit Quality
Nonperforming loans consist of nonaccrual loans and loans past due 90 days or more and still accruing.

The following tables present the amortized cost of nonaccrual loans and loans past due 90 days or more and still accruing, by class of loan, at December 31, 2024 and December 31, 2023:
 
 December 31, 2024
(In thousands)Nonaccrual
Loans		Loans Past Due
90 Days
 or More
and Accruing		Total
Nonperforming
Loans
Commercial, financial and agricultural:
Commercial, financial and agricultural$24,241 $— $24,241 
PPP loans— — $— 
Overdrafts— — $— 
Commercial real estate23,230 — $23,230 
Construction real estate:
Commercial8 — $8 
Retail22 — $22 
Residential real estate:
Commercial5,700 — $5,700 
Mortgage11,368 913 $12,281 
HELOC918 15 $933 
Installment31 — $31 
Consumer:
Consumer2,643 826 $3,469 
Check loans— — $— 
Leases17 — $17 
Total loans$68,178 $1,754 $69,932 
 December 31, 2023
(In thousands)Nonaccrual
Loans		Loans Past Due 90 Days or More and AccruingTotal
Nonperforming
Loans
Commercial, financial and agricultural
Commercial, financial and agricultural$21,284 $14 $21,298 
PPP loans— — $— 
Overdrafts— — $— 
Commercial real estate20,740 — $20,740 
Construction real estate:  
Commercial504 — $504 
Retail— 26 $26 
Residential real estate:   
Commercial2,670 — $2,670 
Mortgage11,786 206 $11,992 
HELOC815 — $815 
Installment16 — $16 
Consumer
Consumer2,371 613 $2,984 
Check loans— — $— 
Leases73 — $73 
Total loans$60,259 $859 $61,118 
The following tables provide additional detail on nonaccrual loans and the related ACL, by class of loan, at December 31, 2024 and December 31, 2023:

December 31, 2024
(In thousands)Nonaccrual Loans With No ACLNonaccrual Loans With an ACLRelated ACL
Commercial, financial and agricultural:
Commercial, financial and agricultural$18,778 $5,463 $1,261 
PPP loans— — — 
Overdrafts— — — 
Commercial real estate23,230 — — 
Construction real estate:
Commercial8 — — 
Retail— 22 1 
Residential real estate:
Commercial3,755 1,945 39 
Mortgage— 11,368 128 
HELOC— 918 154 
Installment— 31 1 
Consumer
Consumer— 2,643 786 
Check loans— — — 
Leases17 — — 
Total loans$45,788 $22,390 $2,370 
December 31, 2023
(In thousands)Nonaccrual Loans With No ACLNonaccrual Loans With an ACLRelated ACL
Commercial, financial and agricultural:
Commercial, financial and agricultural$8,634 $12,650 $4,985 
PPP loans— — — 
Overdrafts— — — 
Commercial real estate20,175 565 2 
Construction real estate:
Commercial504 — — 
Retail— — — 
Residential real estate:
Commercial2,670 — — 
Mortgage— 11,786 117 
HELOC— 815 25 
Installment— 16 — 
Consumer
Consumer— 2,371 672 
Check loans— — — 
Leases73 — — 
Total loans$32,056 $28,203 $5,801 

Nonaccrual commercial loans are evaluated on an individual basis and are excluded from the collective evaluation. Additionally, accruing collateral dependent commercial loans to borrowers experiencing financial difficulty are individually evaluated. Management’s general practice is to proactively charge down nonaccrual loans individually evaluated to the fair value of the underlying collateral. Nonaccrual consumer loans are collectively evaluated based on similar risk characteristics.

The following tables provide the amortized cost basis of collateral-dependent loans by class of loan, as of December 31, 2024 and December 31, 2023:

 December 31, 2024
(In thousands)Real EstateBusiness AssetsOtherTotal
Commercial, financial and agricultural
Commercial, financial and agricultural$5,583 $11,423 $22,187 $39,193 
Commercial real estate24,539 8 — 24,547 
Construction real estate:
Commercial589 — — 589 
Residential real estate:
Commercial5,898 — — 5,898 
Mortgage78 — — 78 
Leases— 17 — 17 
Total loans$36,687 $11,448 $22,187 $70,322 
 December 31, 2023
(In thousands)Real EstateBusiness AssetsOtherTotal
Commercial, financial and agricultural
Commercial, financial and agricultural$8,137 $9,377 $3,737 $21,251 
Commercial real estate22,096 514 — 22,610 
Construction real estate:
Commercial1,130 — — 1,130 
Residential real estate:
Commercial2,910 — — 2,910 
Mortgage76 — — 76 
Leases— 73 — 73 
Total loans$34,349 $9,964 $3,737 $48,050 

Interest income on nonaccrual loans is recognized on a cash basis only when Park expects to receive the entire recorded investment in the loans. The following table presents interest income recognized on nonaccrual loans for the years ended December 31, 2024, 2023 and 2022:

Interest Income Recognized
(In thousands)December 31, 2024December 31, 2023December 31, 2022
Commercial, financial and agricultural:
Commercial, financial and agricultural$1,595 $1,843 $438 
PPP loans— — — 
Overdrafts— — — 
Commercial real estate1,132 781 956 
Construction real estate:
Commercial38 65 32 
Retail1 — 13 
Residential real estate:
Commercial238 136 88 
Mortgage434 227 157 
HELOC16 20 16 
Installment— 3 3 
Consumer:
Consumer134 97 59 
Check loans
Leases— — 33 
Total loans$3,588 $3,172 $1,795 
The following tables present the aging of the amortized cost in past due loans at December 31, 2024 and December 31, 2023 by class of loan:

 December 31, 2024
(In thousands)Accruing Loans
Past Due 30-89
Days
Past Due 
Nonaccrual
Loans and Loans Past
Due 90 Days or
More and 
Accruing (1)
Total Past Due
Total Current (2)
Total 
Amortized Cost
Commercial, financial and agricultural:
Commercial, financial and agricultural$1,881 $13,234 $15,115 $1,252,148 $1,267,263 
PPP loans20 — 20 827 847 
Overdrafts— — — 1,475 1,475 
Commercial real estate458 2,594 3,052 1,991,280 1,994,332 
Construction real estate:
Commercial— — — 311,122 311,122 
Retail100 22 122 101,333 101,455 
Residential real estate:
Commercial— 2,164 2,164 642,254 644,418 
Mortgage13,403 5,946 19,349 1,327,194 1,346,543 
HELOC438 620 1,058 202,401 203,459 
Installment39 22 61 5,952 6,013 
Consumer:
Consumer10,309 1,195 11,504 1,896,969 1,908,473 
Check loans3 — 3 1,896 1,899 
Leases— — — 29,829 29,829 
Total loans$26,651 $25,797 $52,448 $7,764,680 $7,817,128 
(1) Includes an aggregate of $1.8 million of loans past due 90 days or more and accruing. The remaining loans were past due nonaccrual loans.
(2) Includes an aggregate of $44.1 million of nonaccrual loans which were current in regards to contractual principal and interest payments.
 December 31, 2023
(in thousands)Accruing Loans
Past Due 30-89
Days
Past Due 
Nonaccrual
Loans and Loans Past
Due 90 Days or
More and 
Accruing (1)
Total Past Due
Total Current (2)
Total 
Amortized Cost
Commercial, financial and agricultural
Commercial, financial and agricultural$522 $11,629 $12,151 $1,279,874 $1,292,025 
PPP loans9 — 9 2,107 2,116 
Overdrafts— — — 1,499 1,499 
Commercial real estate1,656 1,839 3,495 1,872,498 1,875,993 
Construction real estate:
Commercial— 205 205 209,021 209,226 
Retail554 26 580 95,293 95,873 
Residential real estate:
Commercial295 219 514 608,896 609,410 
Mortgage9,831 6,450 16,281 1,223,580 1,239,861 
HELOC788 611 1,399 172,950 174,349 
Installment52 — 52 5,852 5,904 
Consumer
Consumer8,974 1,183 10,157 1,933,712 1,943,869 
Check loans5 — 5 2,062 2,067 
Leases— — — 24,029 24,029 
Total loans$22,686 $22,162 $44,848 $7,431,373 $7,476,221 
(1) Includes an aggregate of $859,000 of loans past due 90 days or more and accruing. The remaining loans were past due nonaccrual loans.
(2) Includes an aggregate of $39.0 million of nonaccrual loans which were current in regards to contractual principal and interest payments.

Credit Quality Indicators
Management utilizes past due information as a credit quality indicator across the loan portfolio. Past due information at December 31, 2024 and December 31, 2023 is included in the previous tables. The past due information is the primary credit quality indicator within the following classes of loans: (1) overdrafts in the commercial, financial and agricultural portfolio segment; (2) retail loans in the construction real estate portfolio segment; (3) mortgage loans, HELOC and installment loans in the residential real estate portfolio segment; and (4) consumer loans and check loans in the consumer portfolio segment. The primary credit indicator for commercial loans is based on an internal grading system that grades all commercial loans on a scale from 1 to 8. Credit grades are continuously monitored by the responsible loan officer and adjustments are made when appropriate. A grade of 1 indicates little or no credit risk and a grade of 8 is considered a loss. Commercial loans that are pass-rated (graded a 1 through a 4) are considered to be of acceptable credit risk. Commercial loans graded a 5 (special mention) are considered to be watch list credits and a higher PD is applied to these loans. Loans classified as special mention have potential weaknesses that require management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of Park’s credit position at some future date. Commercial loans graded a 6 (substandard), also considered watch list credits, are considered to represent higher credit risk and, as a result, a higher PD is applied to these loans. Loans classified as substandard are inadequately protected by the current sound worth and paying capacity of the obligor or the value of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that Park will sustain some loss if the weaknesses are not corrected. Commercial loans graded a 7 (doubtful) are shown as nonaccrual and Park generally charges these loans down to their fair value by taking a partial charge-off or recording an individual reserve. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Certain 6-rated loans and all 7-rated loans are placed on nonaccrual status and included within the individually evaluated category. A commercial loan is deemed nonaccrual, and is individually evaluated, when management determines the borrower's ability to perform in accordance with the contractual loan agreement is in doubt. Any commercial loan graded an 8 (loss) is completely charged off.
Based on the most recent analysis performed, the risk category of loans by class of loans as of December 31, 2024 and December 31, 2023 are detailed in the tables below. Also included in the tables detailing balances at December 31, 2024 and December 31, 2023 are gross charge offs for the years ended December 31, 2024 and December 31, 2023.

December 31, 2024Term Loans Amortized Cost Basis by Origination Year
(In thousands)20242023202220212020PriorRevolving Loans Amortized Cost BasisTotal
Commercial, financial and agricultural: Commercial, financial and agricultural (1)
Risk rating
Pass$239,260 $150,007 $97,761 $80,409 $66,032 $53,327 $506,998 $1,193,794 
Special Mention2,709 1,222 3,819 314 818 1,467 37,447 47,796 
Substandard1,574 633 264 1,879 817 5,232 12,417 22,816 
Doubtful371 944 256 104 336 — 846 2,857 
Total $243,914 $152,806 $102,100 $82,706 $68,003 $60,026 $557,708 $1,267,263 
Current period gross charge-offs$— $104 $143 $20 $1,317 $2,872 $50 $4,506 
Commercial, financial and agricultural: PPP
Risk rating
Pass$— $— $— $547 $300 $— $— $847 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total$— $— $— $547 $300 $— $— $847 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
Commercial real estate (1)
Risk rating
Pass$329,203 $252,923 $289,622 $296,745 $276,181 $459,856 $30,203 $1,934,733 
Special Mention3,054 2,779 11,978 4,071 5,728 7,416 1,165 36,191 
Substandard2,083 1,477 3,037 3,310 2,223 7,850 2,985 22,965 
Doubtful— — 443 — — — — 443 
Total$334,340 $257,179 $305,080 $304,126 $284,132 $475,122 $34,353 $1,994,332 
Current period gross charge-offs$— $99 $— $— $— $— $— $99 
Construction real estate: Commercial
Risk rating
Pass$158,403 $83,233 $32,035 $2,623 $3,014 $2,783 $22,896 $304,987 
Special Mention5,084 — 374 — — — 88 5,546 
Substandard8 581 — — — — — 589 
Doubtful— — — — — — — — 
Total$163,495 $83,814 $32,409 $2,623 $3,014 $2,783 $22,984 $311,122 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
December 31, 2024Term Loans Amortized Cost Basis by Origination Year
(In thousands)20242023202220212020PriorRevolving Loans Amortized Cost BasisTotal
Residential Real Estate: Commercial
Risk rating
Pass$120,873 $111,577 $88,292 $92,240 $102,999 $93,918 $20,455 $630,354 
Special Mention1,403 540 661 437 831 941 3,165 7,978 
Substandard351 91 2,790 324 1,262 1,123 145 6,086 
Doubtful— — — — — — — — 
Total$122,627 $112,208 $91,743 $93,001 $105,092 $95,982 $23,765 $644,418 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
Leases
Risk rating
Pass$17,537 $5,868 $3,557 $1,243 $967 $315 $— $29,487 
Special Mention— 46 251 — 28 — — 325 
Substandard17 — — — — — — 17 
Doubtful— — — — — — — — 
Total$17,554 $5,914 $3,808 $1,243 $995 $315 $— $29,829 
Current period gross charge-offs$8 $— $— $— $— $— $— $8 
Total Commercial Loans
Risk rating
Pass$865,276 $603,608 $511,267 $473,807 $449,493 $610,199 $580,552 $4,094,202 
Special Mention12,250 4,587 17,083 4,822 7,405 9,824 41,865 97,836 
Substandard4,033 2,782 6,091 5,513 4,302 14,205 15,547 52,473 
Doubtful371 944 699 104 336 — 846 3,300 
Total$881,930 $611,921 $535,140 $484,246 $461,536 $634,228 $638,810 $4,247,811 
Current period gross charge-offs$8 $203 $143 $20 $1,317 $2,872 $50 $4,613 
(1) Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that are not broken out by class.
December 31, 2023Term Loans Amortized Cost Basis by Origination Year
(In thousands)20232022202120202019PriorRevolving Loans Amortized Cost BasisTotal
Commercial, financial and agricultural: Commercial, financial and agricultural (1)
Risk rating
Pass$204,601 $149,386 $118,992 $93,495 $38,205 $45,814 $600,301 $1,250,794 
Special Mention530 1,549 435 128 252 2 16,260 19,156 
Substandard149 894 1,041 1,133 143 582 7,427 11,369 
Doubtful— — 39 1,771 96 7,848 952 10,706 
Total $205,280 $151,829 $120,507 $96,527 $38,696 $54,246 $624,940 $1,292,025 
Current period gross charge-offs$— $13 $73 $— $5 $52 $19 $162 
Commercial, financial and agricultural: PPP
Risk rating
Pass$— $— $925 $1,191 $— $— $— $2,116 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total$— $— $925 $1,191 $— $— $— $2,116 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
Commercial real estate (1)
Risk rating
Pass$278,922 $322,096 $334,452 $318,473 $204,740 $347,389 $17,174 $1,823,246 
Special Mention2,092 2,951 4,637 7,629 — 13,043 98 30,450 
Substandard1,828 1,589 2,509 2,668 3,406 7,495 1,584 21,079 
Doubtful889 — — — — 329 — 1,218 
Total$283,731 $326,636 $341,598 $328,770 $208,146 $368,256 $18,856 $1,875,993 
Current period gross charge-offs$224 $— $— $— $— $530 $— $754 
Construction real estate: Commercial
Risk rating
Pass$89,283 $77,988 $7,480 $18,195 $1,090 $2,718 $11,342 $208,096 
Special Mention— — — — — — — — 
Substandard831 236 63 — — — — 1,130 
Doubtful— — — — — — — — 
Total$90,114 $78,224 $7,543 $18,195 $1,090 $2,718 $11,342 $209,226 
Current period gross charge-offs$546 $— $— $— $— $— $— $546 
Residential Real Estate: Commercial
Risk rating
Pass$128,589 $104,008 $105,225 $117,442 $49,797 $71,489 $23,535 $600,085 
Special Mention— 333 623 1,964 914 1,578 — 5,412 
Substandard195 560 159 1,192 16 1,601 190 3,913 
Doubtful— — — — — — — — 
Total$128,784 $104,901 $106,007 $120,598 $50,727 $74,668 $23,725 $609,410 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
December 31, 2023Term Loans Amortized Cost Basis by Origination Year
(In thousands)20232022202120202019PriorRevolving Loans Amortized Cost BasisTotal
Leases
Risk rating
Pass$11,440 $4,404 $2,197 $1,941 $356 $623 $— $20,961 
Special Mention731 1,564 391 297 10 2 — 2,995 
Substandard— — — — 67 6 — 73 
Doubtful— — — — — — — — 
Total$12,171 $5,968 $2,588 $2,238 $433 $631 $— $24,029 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
Total Commercial Loans
Risk rating
Pass$712,835 $657,882 $569,271 $550,737 $294,188 $468,033 $652,352 $3,905,298 
Special Mention3,353 6,397 6,086 10,018 1,176 14,625 16,358 58,013 
Substandard3,003 3,279 3,772 4,993 3,632 9,684 9,201 37,564 
Doubtful889 — 39 1,771 96 8,177 952 11,924 
Total$720,080 $667,558 $579,168 $567,519 $299,092 $500,519 $678,863 $4,012,799 
Current period gross charge-offs$770 $13 $73 $— $5 $582 $19 $1,462 
(1) Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that are not broken out by class.
 
Park considers the performance of the loan portfolio and its impact on the allowance for credit losses. For residential and consumer loan classes, Park also evaluates credit quality based on the aging status of the loan, which was previously presented, and by performing status. The following tables present the amortized cost in residential and consumer loans based on performing status and gross charge-offs for the years ended December 31, 2024 and December 31, 2023. Nonperforming loans consisted of nonaccrual loans and loans past due 90 days or more and still accruing.

December 31, 2024Term Loans Amortized Cost Basis by Origination Year
(In thousands)20242023202220212020PriorRevolving Loans Amortized Cost BasisTotal
Commercial, financial and agricultural: Overdrafts
Performing$1,475 $— $— $— $— $— $— $1,475 
Nonperforming— — — — — — — — 
Total $1,475 $— $— $— $— $— $— $1,475 
Current period gross charge-offs$937 $— $— $— $— $— $— $937 
Construction Real Estate: Retail
Performing$51,109 $26,237 $8,517 $6,233 $3,571 $5,306 $460 $101,433 
Nonperforming— — — — 22 — — 22 
Total $51,109 $26,237 $8,517 $6,233 $3,593 $5,306 $460 $101,455 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
Residential Real Estate: Mortgage
Performing$194,883 $236,260 $250,132 $192,193 $157,438 $303,356 $— $1,334,262 
Nonperforming536 721 1,324 729 1,508 7,463 — 12,281 
Total $195,419 $236,981 $251,456 $192,922 $158,946 $310,819 $— $1,346,543 
Current period gross charge-offs$— $— $— $— $— $22 $— $22 
December 31, 2024Term Loans Amortized Cost Basis by Origination Year
(In thousands)20242023202220212020PriorRevolving Loans Amortized Cost BasisTotal
Residential Real Estate: HELOC
Performing$13 $153 $577 $333 $56 $1,048 $200,346 $202,526 
Nonperforming— 39 14 56 — 610 214 933 
Total $13 $192 $591 $389 $56 $1,658 $200,560 $203,459 
Current period gross charge-offs$— $— $— $— $— $9 $— $9 
Residential Real Estate: Installment
Performing$1,198 $1,704 $133 $— $— $2,947 $— $5,982 
Nonperforming— — — — 2 29 — 31 
Total $1,198 $1,704 $133 $— $2 $2,976 $— $6,013 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
Consumer: Consumer
Performing$607,783 $454,403 $427,982 $204,806 $126,075 $76,707 $7,248 $1,905,004 
Nonperforming337 1,035 928 452 310 404 3 3,469 
Total $608,120 $455,438 $428,910 $205,258 $126,385 $77,111 $7,251 $1,908,473 
Current period gross charge-offs$683 $3,532 $4,596 $2,328 $809 $743 $2 $12,693 
Consumer: Check loans
Performing$— $— $— $— $— $— $1,899 $1,899 
Nonperforming— — — — — — — — 
Total $— $— $— $— $— $— $1,899 $1,899 
Current period gross charge-offs— — — — — — 60 60 
Total Consumer Loans
Performing$856,461 $718,757 $687,341 $403,565 $287,140 $389,364 $209,953 $3,552,581 
Nonperforming
873 1,795 2,266 1,237 1,842 8,506 217 16,736 
Total $857,334 $720,552 $689,607 $404,802 $288,982 $397,870 $210,170 $3,569,317 
Current period gross charge-offs$1,620 $3,532 $4,596 $2,328 $809 $774 $62 $13,721 

December 31, 2023Term Loans Amortized Cost Basis by Origination Year
(In thousands)20232022202120202019PriorRevolving Loans Amortized Cost BasisTotal
Commercial, financial and agricultural: Overdrafts
Performing$1,499 $— $— $— $— $— $— $1,499 
Nonperforming— — — — — — — — 
Total $1,499 $— $— $— $— $— $— $1,499 
Current period gross charge-offs$1,064 $— $— $— $— $— $— $1,064 
Construction Real Estate: Retail
Performing$52,904 $24,219 $7,709 $4,251 $3,604 $2,891 $269 $95,847 
Nonperforming— — — 26 — — — 26 
Total $52,904 $24,219 $7,709 $4,277 $3,604 $2,891 $269 $95,873 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
December 31, 2023Term Loans Amortized Cost Basis by Origination Year
(In thousands)20232022202120202019PriorRevolving Loans Amortized Cost BasisTotal
Residential Real Estate: Mortgage
Performing$209,315 $259,076 $218,417 $177,518 $80,627 $282,916 $— $1,227,869 
Nonperforming197 1,144 1,172 406 581 8,492 — 11,992 
Total $209,512 $260,220 $219,589 $177,924 $81,208 $291,408 $— $1,239,861 
Current period gross charge-offs$— $— $— $— $— $35 $— $35 
Residential Real Estate: HELOC
Performing$99 $205 $379 $98 $221 $1,838 $170,694 $173,534 
Nonperforming— — — — 32 603 180 815 
Total $99 $205 $379 $98 $253 $2,441 $170,874 $174,349 
Current period gross charge-offs$— $— $— $— $— $9 $— $9 
Residential Real Estate: Installment
Performing$2,225 $162 $— $3 $144 $3,354 $— $5,888 
Nonperforming— — — — — 16 — 16 
Total $2,225 $162 $— $3 $144 $3,370 $— $5,904 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
Consumer: Consumer
Performing$627,985 $613,019 $319,161 $214,714 $81,446 $65,955 $18,605 $1,940,885 
Nonperforming395 891 654 435 216 389 4 2,984 
Total $628,380 $613,910 $319,815 $215,149 $81,662 $66,344 $18,609 $1,943,869 
Current period gross charge-offs$560 $3,517 $2,371 $763 $545 $480 $6 $8,242 
Consumer: Check loans
Performing$— $— $— $— $— $— $2,067 $2,067 
Nonperforming— — — — — — — — 
Total $— $— $— $— $— $— $2,067 $2,067 
Current period gross charge-offs$— $— $— $— $— $— $51 $51 
Total Consumer Loans
Performing$894,027 $896,681 $545,666 $396,584 $166,042 $356,954 $191,635 $3,447,589 
Nonperforming
592 2,035 1,826 867 829 9,500 184 15,833 
Total $894,619 $898,716 $547,492 $397,451 $166,871 $366,454 $191,819 $3,463,422 
Current period gross charge-offs$1,624 $3,517 $2,371 $763 $545 $524 $57 $9,401 

Loans and Leases Acquired with Deteriorated Credit Quality
PCD loans are individually evaluated on a quarterly basis to determine if a reserve is necessary. At each of December 31, 2024 and December 31, 2023, there was no allowance for credit losses on PCD loans. The carrying amount of accruing loans acquired with deteriorated credit quality at December 31, 2024 and December 31, 2023 was $2.2 million and $2.8 million, respectively. The carrying amount of nonaccrual loans acquired with deteriorated credit quality was $551,000 and $534,000 at December 31, 2024 and December 31, 2023, respectively.
Modifications to Borrowers Experiencing Financial Difficulty
Management identifies loans as modifications to borrowers experiencing financial difficulty when a borrower is experiencing financial difficulties and Park has altered the cash flow of the loan as part of a modification or in the loan renewal process. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of the borrower's debt in the foreseeable future without the modification. This evaluation is performed in accordance with the Company’s internal underwriting policy. Park modifies loans to borrowers experiencing financial difficulty by providing principal forgiveness, a term extension, an other-than-insignificant payment delay or an interest rate reduction.

In some cases, Park provides multiple types of modifications on one loan. Typically, one type of modification, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another modification, such as principal forgiveness, may be granted. For the loans included in the combination columns below, multiple types of modifications have been made on the same loan within the current reporting period. The combination is at least two of the following: a term extension, principal forgiveness, an other-than-insignificant payment delay and/or an interest rate reduction.

The starting point for the estimate of the allowance for credit losses is historical loss information, which includes losses from modifications of receivables to borrowers experiencing financial difficulty. As a result, the effect of most modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses and a change to the allowance for credit losses is generally not recorded upon modification. When principal forgiveness is provided, the amount of forgiveness is charged off against the allowance for credit losses.
The following tables present the amortized cost basis of loans at December 31, 2024 and 2023 that were both experiencing financial difficulty and modified during the years ended December 31, 2024 and 2023 by class of and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial difficulty as compared to the amortized cost basis of each class of financing receivable is also presented below.

Year ended December 31, 2024
(Dollars in thousands)Principal ForgivenessPayment DelayTerm ExtensionInterest Rate ReductionCombination Term Extension and Interest Rate ReductionOtherTotalPercent of Total Class of Financing Receivable
Commercial, financial and agricultural:
Commercial, financial and agricultural $— $54 $19,008 $765 $— $— $19,827 1.56 %
PPP loans— — — — — — — — %
Overdrafts— — — — — — — — %
Commercial real estate — 160 6,508 718 533 — 7,919 0.40 %
Construction real estate:
Commercial— — 8 — — — 8 — %
Retail— — — — — — — — %
Residential real estate:
Commercial— — 136 12 639 — 787 0.12 %
Mortgage— — 574 84 82 — 740 0.05 %
HELOC— — — — — — — — %
Installment— — 232 — 92 — 324 5.39 %
Consumer:
Consumer— — — 14 — — 14 — %
Check loans— — — — — — — — %
Leases— — — — — — — — %
Total$— $214 $26,466 $1,593 $1,346 $— $29,619 0.38 %
Year ended December 31, 2023
(Dollars in thousands)Principal ForgivenessPayment DelayTerm ExtensionInterest Rate ReductionCombination Term Extension and Interest Rate ReductionOtherTotalPercent of Total Class of Financing Receivable
Commercial, financial and agricultural:
Commercial, financial and agricultural $— $— $11,866 $371 $363 $9 $12,609 0.98 %
PPP loans— — — — — — — — %
Overdrafts— — — — — — — — %
Commercial real estate — — 2,458 — — — 2,458 0.13 %
Construction real estate:
Commercial— — 831 — — — 831 0.40 %
Retail— — — — — — — — %
Residential real estate:
Commercial— — 10 — 144 — 154 0.03 %
Mortgage— — — — 428 — 428 0.03 %
HELOC— — — — — — — — %
Installment— — 448 — 299 — 747 12.65 %
Consumer:
Consumer— — — 32 — — 32 — %
Check loans— — — — — — — — %
Leases— — — — — — — — %
Total$— $— $15,613 $403 $1,234 $9 $17,259 0.23 %
Park has committed to lend additional amounts totaling $7.7 million to the borrowers included in the previous table as of December 31, 2024.

The following tables present the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the years ended December 31, 2024 and 2023:

Year ended December 31, 2024
(Dollars in thousands)Weighted Average Interest Rate ReductionWeighted Average Term Extension (years)Weighted Average Payment Delay (years)
Commercial, financial and agricultural:
Commercial, financial and agricultural(2.00)%0.80.4
PPP loans— %0.00.0
Overdrafts— %0.00.0
Commercial real estate(1.80)%3.90.4
Construction real estate:
Commercial— %0.40.0
Retail— %0.00.0
Residential real estate:
Commercial(0.77)%3.10.0
Mortgage(2.30)%3.30.0
HELOC— %0.00.0
Installment(1.28)%9.10.0
Consumer:
Consumer(4.09)%0.00.0
Check loans— %0.00.0
Leases— %0.00.0
Total(1.65)%1.80.4

Year ended December 31, 2023
(Dollars in thousands)Weighted Average Interest Rate ReductionWeighted Average Term Extension (years)
Commercial, financial and agricultural:
Commercial, financial and agricultural(1.64)%0.8
PPP loans— %0.0
Overdrafts— %0.0
Commercial real estate— %4.1
Construction real estate:
Commercial— %1.6
Retail— %0.0
Residential real estate:
Commercial(2.75)%1.4
Mortgage(2.34)%0.5
HELOC— %0.0
Installment(1.00)%12.1
Consumer:
Consumer(2.52)%0.0
Check loans— %0.0
Leases— %0.0
Total(1.82)%1.8
Park closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of Park's modification efforts. The following tables present the performance of such loans that have been modified in the last 12 months for the years ended December 31, 2024 and 2023:

Year ended December 31, 2024
(In thousands)30-59 Days Past Due60-89 Days Past Due90 Days or More Past DueTotal Past Due
Commercial, financial and agricultural:
Commercial, financial and agricultural$115 $— $4,611 $4,726 
PPP loans— — — — 
Overdrafts— — — — 
Commercial real estate— — — — 
Construction real estate:— 
Commercial— — — — 
Retail— — — — 
Residential real estate:— 
Commercial— — — — 
Mortgage71 — 84 155 
HELOC— — — — 
Installment— — — — 
Consumer:— 
Consumer— — — — 
Check loans— — — — 
Leases— — — — 
Total loans$186 $— $4,695 $4,881 
Year ended December 31, 2023
(In thousands)30-59 Days Past Due60-89 Days Past Due90 Days or More Past DueTotal Past Due
Commercial, financial and agricultural:
Commercial, financial and agricultural$— $— $— $— 
PPP loans— — — — 
Overdrafts— — — — 
Commercial real estate219 — — 219 
Construction real estate:— 
Commercial— 205 — 205 
Retail— — — — 
Residential real estate:— 
Commercial— — — — 
Mortgage— — — — 
HELOC— — — — 
Installment20 — — 20 
Consumer:— 
Consumer— — — — 
Check loans— — — — 
Leases— — — — 
Total loans$239 $205 $— $444 
The following tables present the amortized cost basis of loans that had a payment default during the years ended December 31, 2024 and 2023 and were modified in the year prior to that default to borrowers experiencing financial difficulty. For this table, a loan is considered to be in default when it becomes 30 days contractually past due under the modified terms:

Year ended December 31, 2024
(In thousands)Payment DelayTerm ExtensionInterest Rate ReductionCombination Term Extension and Interest Rate Reduction
Commercial, financial and agricultural:
Commercial, financial and agricultural$54 $6,756 $115 $— 
PPP loans— — — — 
Overdrafts— — — — 
Commercial real estate— — — — 
Construction real estate:
Commercial— — — — 
Retail— — — — 
Residential real estate:
Commercial— — — — 
Mortgage— 47 84 71 
HELOC— — — — 
Installment— — — — 
Consumer:
Consumer— — — — 
Check loans— — — — 
Leases— — — — 
Total loans$54 $6,803 $199 $71 
Year ended December 31, 2023
(In thousands)Term ExtensionInterest Rate ReductionCombination Term Extension and Interest Rate ReductionOther
Commercial, financial and agricultural:
Commercial, financial and agricultural$— $— $— $9 
PPP loans— — — — 
Overdrafts— — — — 
Commercial real estate219 — — — 
Construction real estate:— — — 
Commercial205 — — — 
Retail— — — — 
Residential real estate:— — — 
Commercial— — 144 — 
Mortgage— — 133 — 
HELOC— — — — 
Installment20 — — — 
Consumer:— — — 
Consumer— — — — 
Check loans— — — — 
Leases— — — — 
Total loans$444 $— $277 $9 

Upon the determination that a modified loan (or a portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is charged-off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amounts.

Related Party Loans
Certain of the Corporation’s executive officers, directors and related entities of directors are loan customers of PNB. As of December 31, 2024 and 2023, credit exposure aggregating approximately $29.2 million and $34.7 million, respectively, was outstanding to such parties. Of this total exposure, approximately $25.1 million and $28.0 million was outstanding at December 31, 2024 and 2023, respectively, with the remaining balance representing available credit. During 2024, there were no new loans and advances on existing loans made to these executive officers, directors and related entities of directors totaled $783,000. These extensions of credit were offset by aggregate principal payments of $3.7 million. During 2023, new loans and advances on existing loans were $0.4 million and $3.8 million, respectively. These extensions of credit were offset by aggregate principal payments of $4.6 million.