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Loans | 3 Months Ended
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Mar. 31, 2025 | Mar. 31, 2024
Loans and Leases Receivable Disclosure [Abstract] |  |
Loans | The following tables present the amortized cost basis of loans at March 31, 2025 and 2024 that were both experiencing financial difficulty and modified during the three months ended March 31, 2025 and 2024 by class and 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.
|  | Three Months Ended March 31, 2025
(Dollars in thousands) |  | Principal Forgiveness |  | Payment Delay |  | Term Extension |  | Interest Rate Reduction |  | Combination Term Extension and Interest Rate Reduction |  | Combination Term Extension and Payment Delay |  | Total |  | Percent of Total Class of Financing Receivable
Commercial, financial and agricultural: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial, financial and agricultural |  | $ | — |  |  | $ | 932 |  |  | $ | 6,503 |  |  | $ | — |  |  | $ | 150 |  |  | $ | — |  |  | $ | 7,585 |  |  | 0.61 | %
Overdrafts |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — | %
Commercial real estate |  | — |  |  | 6,186 |  |  | 799 |  |  | 1,478 |  |  | 175 |  |  | 1,426 |  |  | 10,064 |  |  | 0.50 | %
Construction real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — | %
Retail |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 69 |  |  | 69 |  |  | 0.07 | %
Residential real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  | — |  |  | 898 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 898 |  |  | 0.14 | %
Mortgage |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 451 |  |  | 451 |  |  | 0.03 | %
HELOC |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — | %
Installment |  | — |  |  | — |  |  | 73 |  |  | — |  |  | — |  |  | — |  |  | 73 |  |  | 1.21 | %
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer |  | — |  |  | — |  |  | — |  |  | 16 |  |  | — |  |  | — |  |  | 16 |  |  | — | %
Check loans |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — | %
Leases |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — | %
Total |  | $ | — |  |  | $ | 8,016 |  |  | $ | 7,375 |  |  | $ | 1,494 |  |  | $ | 325 |  |  | $ | 1,946 |  |  | $ | 19,156 |  |  | 0.24 | %
|  | Three Months Ended March 31, 2024
(Dollars in thousands) |  | Principal Forgiveness |  | Payment Delay |  | Term Extension |  | Interest Rate Reduction |  | Combination Term Extension and Interest Rate Reduction |  | Combination Term Extension and Payment Delay |  | Total |  | Percent of Total Class of Financing Receivable
Commercial, financial and agricultural: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial, financial and agricultural |  | $ | — |  |  | $ | 54 |  |  | $ | 12,144 |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | 12,200 |  |  | 0.96 | %
Overdrafts |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — | %
Commercial real estate |  | — |  |  | 161 |  |  | 4,522 |  |  | 344 |  |  | 122 |  |  | — |  |  | 5,149 |  |  | 0.27 | %
Construction real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — | %
Retail |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — | %
Residential real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  | — |  |  | — |  |  | 438 |  |  | — |  |  | 220 |  |  | — |  |  | 658 |  |  | 0.11 | %
Mortgage |  | — |  |  | — |  |  | 48 |  |  | — |  |  | — |  |  | — |  |  | 48 |  |  | — | %
HELOC |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — | %
Installment |  | — |  |  | — |  |  | 57 |  |  | — |  |  | — |  |  | — |  |  | 57 |  |  | 0.95 | %
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer |  | — |  |  | — |  |  | — |  |  | 8 |  |  | — |  |  | — |  |  | 8 |  |  | — | %
Check loans |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — | %
Leases |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — | %
Total |  | $ | — |  |  | $ | 215 |  |  | $ | 17,209 |  |  | $ | 354 |  |  | $ | 342 |  |  | $ | — |  |  | $ | 18,120 |  |  | 0.24 | %
Park had commitments to lend $2.7 million related to loans which were both experiencing financial difficulty and modified during the three months ended March 31, 2025. The following tables present the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the three months ended March 31, 2025 and 2024:
|  | Three Months Ended March 31, 2025
(Dollars in thousands) |  | Principal Forgiveness |  | Weighted Average Interest Rate Reduction |  | Weighted Average Term Extension (years) |  | Weighted Average Payment Delay (years)
Commercial, financial and agricultural: |  |  |  |  |  |  |  |
Commercial, financial and agricultural |  | $ | — |  |  | (0.35) | % |  | 0.9 |  | 0.4
Overdrafts |  | — |  |  | — | % |  | 0.0 |  | 0.0
Commercial real estate |  | — |  |  | (0.78) | % |  | 2.6 |  | 0.5
Construction real estate: |  |  |  |  |  |  |  |
Commercial |  | — |  |  | — | % |  | 0.0 |  | 0.0
Retail |  | — |  |  | — | % |  | 0.5 |  | 0.5
Residential real estate: |  |  |  |  |  |  |  |
Commercial |  | — |  |  | — | % |  | 0.0 |  | 0.5
Mortgage |  | — |  |  | — | % |  | 0.4 |  | 0.4
HELOC |  | — |  |  | — | % |  | 0.0 |  | 0.0
Installment |  | — |  |  | — | % |  | 15.1 |  | 0.0
Consumer: |  |  |  |  |  |  |  |
Consumer |  | — |  |  | (1.06) | % |  | 0.0 |  | 0.0
Check loans |  | — |  |  | — | % |  | 0.0 |  | 0.0
Leases |  | — |  |  | — | % |  | 0.0 |  | 0.0
Total |  | $ | — |  |  | (0.75) | % |  | 1.4 |  | 0.5
|  | Three Months Ended March 31, 2024
(Dollars in thousands) |  | Principal Forgiveness |  | Weighted Average Interest Rate Reduction |  | Weighted Average Term Extension (years) |  | Weighted Average Payment Delay (years)
Commercial, financial and agricultural: |  |  |  |  |  |  |  |
Commercial, financial and agricultural |  | $ | — |  |  | (0.50) | % |  | 0.3 |  | 0.4
Overdrafts |  | — |  |  | — | % |  | 0.0 |  | 0.0
Commercial real estate |  | — |  |  | (1.90) | % |  | 3.0 |  | 0.4
Construction real estate: |  |  |  |  |  |  |  |
Commercial |  | — |  |  | — | % |  | 0.0 |  | 0.0
Retail |  | — |  |  | — | % |  | 0.0 |  | 0.0
Residential real estate: |  |  |  |  |  |  |  |
Commercial |  | — |  |  | (1.00) | % |  | 3.0 |  | 0.0
Mortgage |  | — |  |  | — | % |  | 7.8 |  | 0.0
HELOC |  | — |  |  | — | % |  | 0.0 |  | 0.0
Installment |  | — |  |  | — | % |  | 7.8 |  | 0.0
Consumer: |  |  |  |  |  |  |  |
Consumer |  | — |  |  | (7.54) | % |  | 0.0 |  | 0.0
Check loans |  | — |  |  | — | % |  | 0.0 |  | 0.0
Leases |  | — |  |  | — | % |  | 0.0 |  | 0.0
Total |  | $ | — |  |  | (1.68) | % |  | 1.2 |  | 0.4
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 table provides the performance of loans as of the period end date, of modifications made to borrowers experiencing financial difficulty during the twelve months preceding March 31, 2025:
| Twelve Months Ended March 31, 2025
(Dollars in thousands) |  | Current |  | 30-59 days past due |  | 60-89 days past due |  | 90 days or more past due |  | Total
Commercial, financial and agricultural: |  |  |  |  |  |  |  |  |  |
Commercial, financial and agricultural |  | $ | 17,064 |  |  | $ | 294 |  |  | $ | — |  |  | $ | — |  |  | $ | 17,358 |
Overdrafts |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial real estate |  | 13,552 |  |  | 124 |  |  | — |  |  | — |  |  | 13,676 |
Construction real estate: |  |  |  |  |  |  |  |  |  | — |
Commercial |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Retail |  | 69 |  |  | — |  |  | — |  |  | — |  |  | 69 |
Residential real estate: |  |  |  |  |  |  |  |  |  | — |
Commercial |  | 1,299 |  |  | — |  |  | — |  |  | — |  |  | 1,299 |
Mortgage |  | 1,006 |  |  | 53 |  |  | — |  |  | 78 |  |  | 1,137 |
HELOC |  | — |  |  |  |  | — |  |  | — |  |  | — |
Installment |  | 336 |  |  | — |  |  | — |  |  | — |  |  | 336 |
Consumer: |  |  |  |  |  |  |  |  |  | — |
Consumer |  | 11 |  |  | — |  |  | — |  |  | 14 |  |  | 25 |
Check loans |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Leases |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 33,337 |  |  | $ | 471 |  |  | $ | — |  |  | $ | 92 |  |  | $ | 33,900 |
There were $3.5 million in loans modified to borrowers experiencing financial difficulty that had been modified during the twelve months ended March 31, 2024 that were 60-89 days past due as of March 31, 2024 in the Commercial, financial, and agricultural loan portfolio segment. There were $9,000 in loans modified to borrowers experiencing financial difficulty that had been modified during the previous twelve months that were 30-59 days past due as of March 31, 2024 in the Commercial, financial, and agricultural loan portfolio segment. All other loans modified to borrowers experiencing financial difficulty during the twelve months ended March 31, 2024 were less than 30 days past due as of March 31, 2024. The following tables present the amortized cost basis of loans that had a payment default subsequent to modification during the three months ended March 31, 2025 and 2024 and were modified in the twelve months prior to that default to borrowers experiencing financial difficulty. For these tables, a loan is considered to be in default when it becomes 30 days contractually past due under the modified terms:
| Three Months Ended March 31, 2025
| Term Extension |  | Interest Rate Reduction |  | Combination Term Extension and Interest Rate Reduction |  | Combination Term Extension and Payment Delay
Commercial, financial and agricultural: |  |  |  |  |  |  |
Commercial, financial and agricultural | $ | 29 |  |  | $ | — |  |  | $ | 265 |  |  | $ | — |
Overdrafts | — |  |  | — |  |  | — |  |  | — |
Commercial real estate | 124 |  |  | — |  |  | — |  |  | — |
Construction real estate: |  |  |  |  |  |  |
Commercial | — |  |  | — |  |  | — |  |  | — |
Retail | — |  |  | — |  |  | — |  |  | — |
Residential real estate: |  |  |  |  |  |  |
Commercial | — |  |  | — |  |  | — |  |  | — |
Mortgage | — |  |  | 78 |  |  | 11 |  |  | 43 |
HELOC | — |  |  | — |  |  | — |  |  | — |
Installment | — |  |  | — |  |  | — |  |  | — |
Consumer: |  |  |  |  |  |  |
Consumer | — |  |  | 14 |  |  | — |  |  | — |
Check loans | — |  |  | — |  |  | — |  |  | — |
Leases | — |  |  | — |  |  | — |  |  | — |
Total loans | $ | 153 |  |  | $ | 92 |  |  | $ | 276 |  |  | $ | 43 |
| Three Months Ended March 31, 2024
| Term Extension |  | Interest Rate Reduction |  | Combination Term Extension and Interest Rate Reduction |  | Other
Commercial, financial and agricultural: |  |  |  |  |  |  |
Commercial, financial and agricultural | $ | 3,507 |  |  | $ | — |  |  | $ | — |  |  | $ | 9 |
Overdrafts | — |  |  | — |  |  | — |  |  | — |
Commercial real estate | — |  |  | — |  |  | — |  |  | — |
Construction real estate: |  |  |  |  |  |  |
Commercial | — |  |  | — |  |  | — |  |  | — |
Retail | — |  |  | — |  |  | — |  |  | — |
Residential real estate: |  |  |  |  |  |  |
Commercial | — |  |  | — |  |  | — |  |  | — |
Mortgage | — |  |  | — |  |  | — |  |  | — |
HELOC | — |  |  | — |  |  | — |  |  | — |
Installment | 19 |  |  | — |  |  | — |  |  | — |
Consumer: |  |  |  |  |  |  |
Consumer | — |  |  | — |  |  | — |  |  | — |
Check loans | — |  |  | — |  |  | — |  |  | — |
Leases | — |  |  | — |  |  | — |  |  | — |
Total loans | $ | 3,526 |  |  | $ | — |  |  | $ | — |  |  | $ | 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 ACL is adjusted by the same amounts. | Loans The composition of the loan portfolio at March 31, 2025 and at December 31, 2024 was as follows:
| March 31, 2025 |  |  | December 31, 2024
(In thousands) | Amortized Cost |  |  | Amortized Cost
Commercial, financial and agricultural: (1) |  |  |  |
Commercial, financial and agricultural (1) | $ | 1,246,160 |  |  |  | $ | 1,268,110 |
Overdrafts | 1,068 |  |  |  | 1,475 |
Commercial real estate (1) | 2,029,349 |  |  |  | 1,994,332 |
Construction real estate: |  |  |  |
Commercial | 362,857 |  |  |  | 311,122 |
Retail | 99,504 |  |  |  | 101,455 |
Residential real estate: |  |  |  |
Commercial | 663,220 |  |  |  | 644,418 |
Mortgage | 1,360,827 |  |  |  | 1,346,543 |
HELOC | 209,191 |  |  |  | 203,459 |
Installment | 6,032 |  |  |  | 6,013 |
Consumer: |  |  |  |
Consumer | 1,874,845 |  |  |  | 1,908,473 |
Check loans | 1,845 |  |  |  | 1,899 |
Leases | 28,837 |  |  |  | 29,829 |
Total | $ | 7,883,735 |  |  |  | $ | 7,817,128 |
Allowance for credit losses | (88,130) |  |  |  | (87,966) |
Net loans | $ | 7,795,605 |  |  |  | $ | 7,729,162 |
(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 $20.0 million at March 31, 2025, and of $20.4 million at December 31, 2024, which represented a net deferred income position at both dates. At March 31, 2025 and December 31, 2024, loans included purchase accounting adjustments of $493,000 and $669,000, 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 $1.1 million and $1.5 million were reclassified to loans at March 31, 2025 and at December 31, 2024, respectively. 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 March 31, 2025 and December 31, 2024.
|  | March 31, 2025
(In thousands) |  | Nonaccrual Loans |  |  | Loans Past Due 90 Days or More and Accruing |  | Total Nonperforming Loans
Commercial, financial and agricultural: |  |  |  |  |  |  |
Commercial, financial and agricultural |  | $ | 22,993 |  |  |  | $ | 2 |  |  | $ | 22,995 |
Overdrafts |  | — |  |  |  | — |  |  | — |
Commercial real estate |  | 22,929 |  |  |  | — |  |  | 22,929 |
Construction real estate: |  |  |  |  |  |  |
Commercial |  | 100 |  |  |  | — |  |  | 100 |
Retail |  | 20 |  |  |  | — |  |  | 20 |
Residential real estate: |  |  |  |  |  |  |
Commercial |  | 1,764 |  |  |  | — |  |  | 1,764 |
Mortgage |  | 10,383 |  |  |  | 391 |  |  | 10,774 |
HELOC |  | 815 |  |  |  | 40 |  |  | 855 |
Installment |  | 50 |  |  |  | — |  |  | 50 |
Consumer: |  |  |  |  |  |  |
Consumer |  | 2,865 |  |  |  | 786 |  |  | 3,651 |
Check loans |  | — |  |  |  | — |  |  | — |
Leases |  | 10 |  |  |  | — |  |  | 10 |
Total loans |  | $ | 61,929 |  |  |  | $ | 1,219 |  |  | $ | 63,148 |
|  | 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 |
Overdrafts |  | — |  |  | — |  |  | — |
Commercial real estate |  | 23,230 |  |  | — |  |  | 23,230 |
Construction real estate: |  |  |  |  |  |
Commercial |  | 8 |  |  | — |  |  | 8 |
Retail |  | 22 |  |  | — |  |  | 22 |
Residential real estate: |  |  |  |  |  |
Commercial |  | 5,700 |  |  | — |  |  | 5,700 |
Mortgage |  | 11,368 |  |  | 913 |  |  | 12,281 |
HELOC |  | 918 |  |  | 15 |  |  | 933 |
Installment |  | 31 |  |  | — |  |  | 31 |
Consumer |  |  |  |  |  |
Consumer |  | 2,643 |  |  | 826 |  |  | 3,469 |
Check loans |  | — |  |  | — |  |  | — |
Leases |  | 17 |  |  | — |  |  | 17 |
Total loans |  | $ | 68,178 |  |  | $ | 1,754 |  |  | $ | 69,932 |
The following tables provide additional detail on nonaccrual loans and the related ACL, by class of loan, at March 31, 2025 and December 31, 2024:
|  | March 31, 2025
(In thousands) |  | Nonaccrual Loans With No ACL |  | Nonaccrual Loans With an ACL |  | Related ACL
Commercial, financial and agricultural: |  |  |  |  |  |
Commercial, financial and agricultural |  | $ | 19,211 |  |  | $ | 3,782 |  |  | $ | 988 |
Overdrafts |  | — |  |  | — |  |  | — |
Commercial real estate |  | 22,139 |  |  | 790 |  |  | 68 |
Construction real estate: |  |  |  |  |  |
Commercial |  | 100 |  |  | — |  |  | — |
Retail |  | — |  |  | 20 |  |  | 1 |
Residential real estate: |  |  |  |  |  |
Commercial |  | 1,764 |  |  | — |  |  | — |
Mortgage |  | — |  |  | 10,383 |  |  | 118 |
HELOC |  | — |  |  | 815 |  |  | 93 |
Installment |  | — |  |  | 50 |  |  | 20 |
Consumer |  |  |  |  |  |
Consumer |  | — |  |  | 2,865 |  |  | 868 |
Check loans |  | — |  |  | — |  |  | — |
Leases |  | 10 |  |  | — |  |  | — |
Total loans |  | $ | 43,224 |  |  | $ | 18,705 |  |  | $ | 2,156 |
|  | December 31, 2024
(In thousands) |  | Nonaccrual Loans With No ACL |  | Nonaccrual Loans With an ACL |  | Related ACL
Commercial, financial and agricultural: |  |  |  |  |  |
Commercial, financial and agricultural |  | $ | 18,778 |  |  | $ | 5,463 |  |  | $ | 1,261 |
Overdrafts |  | — |  |  | — |  |  | — |
Commercial real estate |  | 23,230 |  |  | — |  |  | — |
Construction real estate: |  |  |  |  |  |
Commercial |  | 8 |  |  | — |  |  | — |
Retail |  | — |  |  | 22 |  |  | 1 |
Residential real estate: |  |  |  |  |  |
Commercial |  | 3,755 |  |  | 1,945 |  |  | 39 |
Mortgage |  | — |  |  | 11,368 |  |  | 128 |
HELOC |  | — |  |  | 918 |  |  | 154 |
Installment |  | — |  |  | 31 |  |  | 1 |
Consumer |  |  |  |  |  |
Consumer |  | — |  |  | 2,643 |  |  | 786 |
Check loans |  | — |  |  | — |  |  | — |
Leases |  | 17 |  |  | — |  |  | — |
Total |  | $ | 45,788 |  |  | $ | 22,390 |  |  | $ | 2,370 |
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, at March 31, 2025 and at December 31, 2024:
|  | March 31, 2025
(In thousands) |  | Real Estate |  | Business Assets |  | Other | Total
Commercial, financial and agricultural |  |  |  |  |  |  |
Commercial, financial and agricultural |  | $ | 5,535 |  |  | $ | 12,336 |  |  | $ | 18,723 |  | $ | 36,594 |
Commercial real estate |  | 24,243 |  |  | 5 |  |  | — |  | 24,248 |
Construction real estate: |  |  |  |  |  |  |
Commercial |  | 669 |  |  | — |  |  | — |  | 669 |
Residential real estate: |  |  |  |  |  |  |
Commercial |  | 1,938 |  |  | — |  |  | — |  | 1,938 |
Mortgage |  | 77 |  |  | — |  |  | — |  | 77 |
Leases |  | — |  |  | 10 |  |  | — |  | 10 |
Total loans |  | $ | 32,462 |  |  | $ | 12,351 |  |  | $ | 18,723 |  | $ | 63,536 |
|  | December 31, 2024
(In thousands) |  | Real Estate |  | Business Assets |  | Other | Total
Commercial, financial and agricultural |  |  |  |  |  |  |
Commercial, financial and agricultural |  | $ | 5,583 |  |  | $ | 11,423 |  |  | $ | 22,187 |  | $ | 39,193 |
Commercial real estate |  | 24,539 |  |  | 8 |  |  | — |  | 24,547 |
Construction real estate: |  |  |  |  |  |  |
Commercial |  | 589 |  |  | — |  |  | — |  | 589 |
Residential real estate: |  |  |  |  |  |  |
Commercial |  | 5,898 |  |  | — |  |  | — |  | 5,898 |
Mortgage |  | 78 |  |  | — |  |  | — |  | 78 |
Leases |  | — |  |  | 17 |  |  | — |  | 17 |
Total loans |  | $ | 36,687 |  |  | $ | 11,448 |  |  | $ | 22,187 |  | $ | 70,322 |
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 three-month periods ended March 31, 2025 and 2024:
|  | Interest Income Recognized
(In thousands) |  | Three Months Ended March 31, 2025 |  |  | Three Months Ended March 31, 2024
Commercial, financial and agricultural: |  |  |  |  |
Commercial, financial and agricultural |  | $ | 332 |  |  |  | $ | 264 |
Overdrafts |  | — |  |  |  | — |
Commercial real estate |  | 260 |  |  |  | 255 |
Construction real estate: |  |  |  |  |
Commercial |  | 1 |  |  |  | 37 |
Retail |  | — |  |  |  | — |
Residential real estate: |  |  |  |  |
Commercial |  | 22 |  |  |  | 48 |
Mortgage |  | 92 |  |  |  | 70 |
HELOC |  | 8 |  |  |  | 5 |
Installment |  | — |  |  |  | — |
Consumer: |  |  |  |  |
Consumer |  | 45 |  |  |  | 31 |
Check loans |  | — |  |  |  | — |
Leases |  | — |  |  |  | — |
Total loans |  | $ | 760 |  |  |  | $ | 710 |
The following tables present the aging of the amortized cost in past due loans at March 31, 2025 and at December 31, 2024 by class of loan:
| March 31, 2025
(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 | $ | 2,075 |  |  | $ | 9,571 |  |  | $ | 11,646 |  |  | $ | 1,234,514 |  |  | $ | 1,246,160 |
Overdrafts | — |  |  | — |  |  | — |  |  | 1,068 |  |  | 1,068 |
Commercial real estate | 685 |  |  | 1,926 |  |  | 2,611 |  |  | 2,026,738 |  |  | 2,029,349 |
Construction real estate: |  |  |  |  |  |  |  |  |
Commercial | — |  |  | — |  |  | — |  |  | 362,857 |  |  | 362,857 |
Retail | 245 |  |  | — |  |  | 245 |  |  | 99,259 |  |  | 99,504 |
Residential real estate: |  |  |  |  |  |  |  |  |
Commercial | 633 |  |  | 298 |  |  | 931 |  |  | 662,289 |  |  | 663,220 |
Mortgage | 10,645 |  |  | 5,347 |  |  | 15,992 |  |  | 1,344,835 |  |  | 1,360,827 |
HELOC | 133 |  |  | 583 |  |  | 716 |  |  | 208,475 |  |  | 209,191 |
Installment | 2 |  |  | 22 |  |  | 24 |  |  | 6,008 |  |  | 6,032 |
Consumer: |  |  |  |  |  |  |  |  |
Consumer | 8,537 |  |  | 1,195 |  |  | 9,732 |  |  | 1,865,113 |  |  | 1,874,845 |
Check loans | 5 |  |  | — |  |  | 5 |  |  | 1,840 |  |  | 1,845 |
Leases | — |  |  | — |  |  | — |  |  | 28,837 |  |  | 28,837 |
Total loans | $ | 22,960 |  |  | $ | 18,942 |  |  | $ | 41,902 |  |  | $ | 7,841,833 |  |  | $ | 7,883,735 |
(1) Includes an aggregate of $1.2 million of loans past due 90 days or more and accruing. The remaining loans were past due nonaccrual loans. (2) Includes an aggregate of $44.2 million of nonaccrual loans which were current with respect to contractual principal and interest payments.
| 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 | $ | 1,901 |  |  | $ | 13,234 |  |  | $ | 15,135 |  |  | $ | 1,252,975 |  |  | $ | 1,268,110 |
Overdrafts | — |  |  | — |  |  | — |  |  | 1,475 |  |  | 1,475 |
Commercial real estate | 458 |  |  | 2,594 |  |  | 3,052 |  |  | 1,991,280 |  |  | 1,994,332 |
Construction real estate: |  |  |  |  |  |  |  |  |
Commercial | — |  |  | — |  |  | — |  |  | 311,122 |  |  | 311,122 |
Retail | 100 |  |  | 22 |  |  | 122 |  |  | 101,333 |  |  | 101,455 |
Residential real estate: |  |  |  |  |  |  |  |  |
Commercial | — |  |  | 2,164 |  |  | 2,164 |  |  | 642,254 |  |  | 644,418 |
Mortgage | 13,403 |  |  | 5,946 |  |  | 19,349 |  |  | 1,327,194 |  |  | 1,346,543 |
HELOC | 438 |  |  | 620 |  |  | 1,058 |  |  | 202,401 |  |  | 203,459 |
Installment | 39 |  |  | 22 |  |  | 61 |  |  | 5,952 |  |  | 6,013 |
Consumer |  |  |  |  |  |  |  |  |
Consumer | 10,309 |  |  | 1,195 |  |  | 11,504 |  |  | 1,896,969 |  |  | 1,908,473 |
Check loans | 3 |  |  | — |  |  | 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 with respect 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 March 31, 2025 and December 31, 2024 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 commercial loans by class of loans at March 31, 2025 and at December 31, 2024 are detailed in the tables below. Also included in the tables detailing loan balances are gross charge offs for the three months ended March 31, 2025 and for the year ended December 31, 2024.
March 31, 2025 | Term Loans Amortized Cost Basis by Origination Year |  |
(In thousands) | 2025 | 2024 | 2023 | 2022 | 2021 | Prior | Revolving Loans Amortized Cost Basis | Total
Commercial, financial and agricultural: Commercial, financial and agricultural (1) |  |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |
Pass | $ | 69,958 |  | $ | 215,382 |  | $ | 138,152 |  | $ | 90,406 |  | $ | 74,341 |  | $ | 96,582 |  | $ | 494,085 |  | $ | 1,178,906 |
Special Mention | 150 |  | 2,335 |  | 1,132 |  | 3,327 |  | 197 |  | 766 |  | 35,617 |  | 43,524 |
Substandard | 1,321 |  | 976 |  | 1,081 |  | 436 |  | 1,897 |  | 5,507 |  | 9,395 |  | 20,613 |
Doubtful | 244 |  | 226 |  | 947 |  | 209 |  | 171 |  | 222 |  | 1,098 |  | 3,117 |
Total | $ | 71,673 |  | $ | 218,919 |  | $ | 141,312 |  | $ | 94,378 |  | $ | 76,606 |  | $ | 103,077 |  | $ | 540,195 |  | $ | 1,246,160 |
Current period gross charge-offs | $ | — |  | $ | — |  | $ | 35 |  | $ | 12 |  | $ | — |  | $ | — |  | $ | — |  | $ | 47 |
Commercial real estate (1) |  |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |
Pass | $ | 91,189 |  | $ | 334,301 |  | $ | 244,180 |  | $ | 284,337 |  | $ | 292,830 |  | $ | 692,872 |  | $ | 30,954 |  | $ | 1,970,663 |
Special Mention | 175 |  | 2,206 |  | 3,357 |  | 12,210 |  | 2,817 |  | 12,338 |  | 916 |  | 34,019 |
Substandard | 334 |  | 2,816 |  | 682 |  | 4,694 |  | 3,005 |  | 9,938 |  | 2,408 |  | 23,877 |
Doubtful | — |  | — |  | 790 |  | — |  | — |  | — |  | — |  | 790 |
Total | $ | 91,698 |  | $ | 339,323 |  | $ | 249,009 |  | $ | 301,241 |  | $ | 298,652 |  | $ | 715,148 |  | $ | 34,278 |  | $ | 2,029,349 |
Current period gross charge-offs | $ | — |  |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Construction real estate: Commercial |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |
Pass | $ | 17,626 |  | $ | 188,423 |  | $ | 78,339 |  | $ | 31,825 |  | $ | 2,379 |  | $ | 5,581 |  | $ | 31,729 |  | $ | 355,902 |
Special Mention | — |  | 6,265 |  | 21 |  | — |  | — |  | — |  | — |  | 6,286 |
Substandard | — |  | — |  | 569 |  | — |  | — |  | — |  | 100 |  | 669 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total | $ | 17,626 |  | $ | 194,688 |  | $ | 78,929 |  | $ | 31,825 |  | $ | 2,379 |  | $ | 5,581 |  | $ | 31,829 |  | $ | 362,857 |
Current period gross charge-offs | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Residential Real Estate: Commercial |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |
Pass | $ | 43,157 |  | $ | 119,567 |  | $ | 107,560 |  | $ | 87,356 |  | $ | 90,098 |  | $ | 183,522 |  | $ | 21,169 |  | $ | 652,429 |
Special Mention | — |  | 1,402 |  | 535 |  | 643 |  | 940 |  | 1,768 |  | 3,161 |  | 8,449 |
Substandard | — |  | 330 |  | 88 |  | 827 |  | 320 |  | 631 |  | 146 |  | 2,342 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total | $ | 43,157 |  | $ | 121,299 |  | $ | 108,183 |  | $ | 88,826 |  | $ | 91,358 |  | $ | 185,921 |  | $ | 24,476 |  | $ | 663,220 |
Current period gross charge-offs | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
March 31, 2025 | Term Loans Amortized Cost Basis by Origination Year |  |
(In thousands) | 2025 | 2024 | 2023 | 2022 | 2021 | Prior | Revolving Loans Amortized Cost Basis | Total
Leases |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |
Pass | $ | 4,558 |  | $ | 13,514 |  | $ | 5,374 |  | $ | 3,067 |  | $ | 1,021 |  | $ | 994 |  | $ | — |  | $ | 28,528 |
Special Mention | — |  | — |  | 43 |  | 232 |  | — |  | 24 |  | — |  | 299 |
Substandard | — |  | 10 |  | — |  | — |  | — |  | — |  | — |  | 10 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total | $ | 4,558 |  | $ | 13,524 |  | $ | 5,417 |  | $ | 3,299 |  | $ | 1,021 |  | $ | 1,018 |  | $ | — |  | $ | 28,837 |
Current period gross charge-offs | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Total Commercial Loans |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |
Pass | $ | 226,488 |  | $ | 871,187 |  | $ | 573,605 |  | $ | 496,991 |  | $ | 460,669 |  | $ | 979,551 |  | $ | 577,937 |  | $ | 4,186,428 |
Special Mention | 325 |  | 12,208 |  | 5,088 |  | 16,412 |  | 3,954 |  | 14,896 |  | 39,694 |  | 92,577 |
Substandard | 1,655 |  | 4,132 |  | 2,420 |  | 5,957 |  | 5,222 |  | 16,076 |  | 12,049 |  | 47,511 |
Doubtful | 244 |  | 226 |  | 1,737 |  | 209 |  | 171 |  | 222 |  | 1,098 |  | 3,907 |
Total | $ | 228,712 |  | $ | 887,753 |  | $ | 582,850 |  | $ | 519,569 |  | $ | 470,016 |  | $ | 1,010,745 |  | $ | 630,778 |  | $ | 4,330,423 |
Current period gross charge-offs | $ | — |  | $ | — |  | $ | 35 |  | $ | 12 |  | $ | — |  | $ | — |  | $ | — |  | $ | 47 |
(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, 2024 | Term Loans Amortized Cost Basis by Origination Year |  |
(In thousands) | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Revolving Loans Amortized Cost Basis | Total
Commercial, financial and agricultural: Commercial, financial and agricultural (1) |  |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |
Pass | $ | 239,260 |  | $ | 150,007 |  | $ | 97,761 |  | $ | 80,956 |  | $ | 66,332 |  | $ | 53,327 |  | $ | 506,998 |  | $ | 1,194,641 |
Special Mention | 2,709 |  | 1,222 |  | 3,819 |  | 314 |  | 818 |  | 1,467 |  | 37,447 |  | 47,796 |
Substandard | 1,574 |  | 633 |  | 264 |  | 1,879 |  | 817 |  | 5,232 |  | 12,417 |  | 22,816 |
Doubtful | 371 |  | 944 |  | 256 |  | 104 |  | 336 |  | — |  | 846 |  | 2,857 |
Total | $ | 243,914 |  | $ | 152,806 |  | $ | 102,100 |  | $ | 83,253 |  | $ | 68,303 |  | $ | 60,026 |  | $ | 557,708 |  | $ | 1,268,110 |
Current period gross charge-offs | $ | — |  | $ | 104 |  | $ | 143 |  | $ | 20 |  | $ | 1,317 |  | $ | 2,872 |  | $ | 50 |  | $ | 4,506 |
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 Mention | 3,054 |  | 2,779 |  | 11,978 |  | 4,071 |  | 5,728 |  | 7,416 |  | 1,165 |  | 36,191 |
Substandard | 2,083 |  | 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 |
December 31, 2024 | Term Loans Amortized Cost Basis by Origination Year |  |
(In thousands) | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Revolving Loans Amortized Cost Basis | Total
Construction real estate: Commercial |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |
Pass | $ | 158,403 |  | $ | 83,233 |  | $ | 32,035 |  | $ | 2,623 |  | $ | 3,014 |  | $ | 2,783 |  | $ | 22,896 |  | $ | 304,987 |
Special Mention | 5,084 |  | — |  | 374 |  | — |  | — |  | — |  | 88 |  | 5,546 |
Substandard | 8 |  | 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 | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Residential Real Estate: Commercial |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |
Pass | $ | 120,873 |  | $ | 111,577 |  | $ | 88,292 |  | $ | 92,240 |  | $ | 102,999 |  | $ | 93,918 |  | $ | 20,455 |  | $ | 630,354 |
Special Mention | 1,403 |  | 540 |  | 661 |  | 437 |  | 831 |  | 941 |  | 3,165 |  | 7,978 |
Substandard | 351 |  | 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 |
Substandard | 17 |  | — |  | — |  | — |  | — |  | — |  | — |  | 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 Mention | 12,250 |  | 4,587 |  | 17,083 |  | 4,822 |  | 7,405 |  | 9,824 |  | 41,865 |  | 97,836 |
Substandard | 4,033 |  | 2,782 |  | 6,091 |  | 5,513 |  | 4,302 |  | 14,205 |  | 15,547 |  | 52,473 |
Doubtful | 371 |  | 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. Park considers the performance of the loan portfolio and its impact on the ACL. 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 three months ended March 31, 2025 and for the year ended December 31, 2024. Nonperforming loans consisted of nonaccrual loans and loans past due 90 days or more and still accruing.
March 31, 2025 | Term Loans Amortized Cost Basis by Origination Year |  |
(In thousands) | 2025 | 2024 | 2023 | 2022 | 2021 | Prior | Revolving Loans Amortized Cost Basis | Total
Commercial, financial and agricultural: Overdrafts |  |  |  |  |  |
Performing | $ | 1,068 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 1,068 |
Nonperforming | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total | $ | 1,068 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 1,068 |
Current period gross charge-offs | $ | 254 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 254 |
Construction Real Estate: Retail |  |  |  |  |  |
Performing | $ | 3,521 |  | $ | 56,087 |  | $ | 16,812 |  | $ | 8,230 |  | $ | 5,983 |  | $ | 8,392 |  | $ | 459 |  | $ | 99,484 |
Nonperforming | — |  | — |  | — |  | — |  | — |  | 20 |  | — |  | 20 |
Total | $ | 3,521 |  | $ | 56,087 |  | $ | 16,812 |  | $ | 8,230 |  | $ | 5,983 |  | $ | 8,412 |  | $ | 459 |  | $ | 99,504 |
Current period gross charge-offs | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Residential Real Estate: Mortgage |  |  |  |  |  |
Performing | $ | 36,383 |  | $ | 196,486 |  | $ | 241,808 |  | $ | 243,137 |  | $ | 186,238 |  | $ | 446,001 |  | $ | — |  | $ | 1,350,053 |
Nonperforming | — |  | 620 |  | 1,150 |  | 1,178 |  | 668 |  | 7,158 |  | — |  | 10,774 |
Total | $ | 36,383 |  | $ | 197,106 |  | $ | 242,958 |  | $ | 244,315 |  | $ | 186,906 |  | $ | 453,159 |  | $ | — |  | $ | 1,360,827 |
Current period gross charge-offs | $ | — |  | $ | 25 |  | $ | — |  | $ | — |  | $ | — |  |  | $ | — |  | $ | 25 |
Residential Real Estate: HELOC |  |  |  |  |  |
Performing | $ | — |  | $ | 63 |  | $ | 142 |  | $ | 461 |  | $ | 349 |  | $ | 1,012 |  | $ | 206,309 |  | $ | 208,336 |
Nonperforming | — |  | — |  | 81 |  | 40 |  | 13 |  | 561 |  | 160 |  | 855 |
Total | $ | — |  | $ | 63 |  | $ | 223 |  | $ | 501 |  | $ | 362 |  | $ | 1,573 |  | $ | 206,469 |  | $ | 209,191 |
Current period gross charge-offs | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  |  | $ | — |  | $ | — |
Residential Real Estate: Installment |  |  |  |  |  |
Performing | $ | 344 |  | $ | 1,083 |  | $ | 1,613 |  | $ | 126 |  | $ | — |  | $ | 2,816 |  | $ | — |  | $ | 5,982 |
Nonperforming | — |  | 20 |  | — |  | — |  | — |  | 30 |  | — |  | 50 |
Total | $ | 344 |  | $ | 1,103 |  | $ | 1,613 |  | $ | 126 |  | $ | — |  | $ | 2,846 |  | $ | — |  | $ | 6,032 |
Current period gross charge-offs | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Consumer: Consumer |  |  |  |  |  |  |  |
Performing | $ | 142,173 |  | $ | 566,880 |  | $ | 413,937 |  | $ | 386,629 |  | $ | 181,215 |  | $ | 174,987 |  | $ | 5,373 |  | $ | 1,871,194 |
Nonperforming | — |  | 653 |  | 916 |  | 901 |  | 537 |  | 642 |  | 2 |  | 3,651 |
Total | $ | 142,173 |  | $ | 567,533 |  | $ | 414,853 |  | $ | 387,530 |  | $ | 181,752 |  | $ | 175,629 |  | $ | 5,375 |  | $ | 1,874,845 |
Current period gross charge-offs | $ | — |  | $ | 513 |  | $ | 1,226 |  | $ | 866 |  | $ | 387 |  | $ | 284 |  | $ | — |  | $ | 3,276 |
March 31, 2025 | Term Loans Amortized Cost Basis by Origination Year |  |
(In thousands) | 2025 | 2024 | 2023 | 2022 | 2021 | Prior | Revolving Loans Amortized Cost Basis | Total
Consumer: Check loans |  |  |  |  |  |  |  |
Performing | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 1,845 |  | $ | 1,845 |
Nonperforming | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 1,845 |  | $ | 1,845 |
Current period gross charge-offs | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 3 |  | $ | 3 |
Total Consumer Loans |  |  |  |  |  |  |  |
Performing | $ | 183,489 |  | $ | 820,599 |  | $ | 674,312 |  | $ | 638,583 |  | $ | 373,785 |  | $ | 633,208 |  | $ | 213,986 |  | $ | 3,537,962 |
Nonperforming | — |  | 1,293 |  | 2,147 |  | 2,119 |  | 1,218 |  | 8,411 |  | 162 |  | 15,350 |
Total | $ | 183,489 |  | $ | 821,892 |  | $ | 676,459 |  | $ | 640,702 |  | $ | 375,003 |  | $ | 641,619 |  | $ | 214,148 |  | $ | 3,553,312 |
Current period gross charge-offs | $ | 254 |  | $ | 538 |  | $ | 1,226 |  | $ | 866 |  | $ | 387 |  | $ | 284 |  | $ | 3 |  | $ | 3,558 |
December 31, 2024 | Term Loans Amortized Cost Basis by Origination Year |  |
(In thousands) | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Revolving Loans Amortized Cost Basis | Total
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 |
Nonperforming | 536 |  | 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 |
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 |
December 31, 2024 | Term Loans Amortized Cost Basis by Origination Year |  |
(In thousands) | 2023 | 2022 | 2021 | 2020 | 2019 | Prior | Revolving Loans Amortized Cost Basis | Total
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 |
Nonperforming | 337 |  | 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 |
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 March 31, 2025 and at December 31, 2024, there was no ACL on PCD loans. The carrying amount of accruing loans acquired with deteriorated credit quality at March 31, 2025 and at December 31, 2024 was $2.1 million and $2.2 million, respectively. The carrying amount of nonaccrual loans acquired with deteriorated credit quality was $546,000 and $551,000 at March 31, 2025 and at December 31, 2024, 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 ACL 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 ACL and a change to the ACL is generally not recorded upon modification. When principal forgiveness is provided, the amount of forgiveness is charged off against the ACL.

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- Definition The entire disclosure for claims held for amounts due to entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + Details
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