Park National (PRK) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.Sin ...

NEWARK, Ohio and DYERSBURG, Tenn., Feb. 02, 2026 (GLOBE NEWSWIRE) -- Park National Corporation (“Park”) (NYSE AMERICAN: PRK) announced that on February 1, 2026, it successfully completed its previously announced merger transaction with First Citizens Bancshares, Inc. (“First Citizens”) (OTCEM: FIZN) through an all-stock transaction. The merger combines two strong community-focused bank subsidiaries – Park National Bank and First Citizens National Bank – and extends Park’s presence into the state of Tennesse ...

Park National (PRK) reported $144.3 million in revenue for the quarter ended December 2025, representing a year-over-year increase of 7.3%. EPS of $2.93 for the same period compares to $2.36 a year ago.The reported revenue represents a surprise of +2.26% over the Zacks Consensus Estimate of $141.11 million. With the consensus EPS estimate being $2.77, the EPS surprise was +5.9%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determ ...

分组1 - Park National (PRK) reported quarterly earnings of $2.93 per share, exceeding the Zacks Consensus Estimate of $2.77 per share, and showing an increase from $2.36 per share a year ago, resulting in an earnings surprise of +5.90% [1] - The company achieved revenues of $144.3 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 2.26%, and up from $134.51 million in the same quarter last year [2] - Park National has consistently outperformed consensus EPS estimates over the last four quarters, achieving this four times [2] 分组2 - The stock has gained approximately 5.1% since the beginning of the year, compared to a 1% gain in the S&P 500 [3] - The current consensus EPS estimate for the upcoming quarter is $2.74 on revenues of $140.1 million, while for the current fiscal year, the estimate is $11.45 on revenues of $576.29 million [7] - The Zacks Industry Rank indicates that the Banks - Midwest sector is currently in the bottom 38% of over 250 Zacks industries, suggesting potential challenges for stocks in this sector [8]

Financial Performance - Park National Corporation's net income for Q4 2025 was $42.6 million, a 10.4% increase from $38.6 million in Q4 2024[2] - For the full year 2025, net income reached $180.1 million, an 18.9% increase from $151.4 million in 2024[2] - Earnings per diluted common share for 2025 was $11.11, compared to $9.32 for 2024[2] - Net income rose by 18.9% to $180,073,000 in 2025, up from $151,420,000 in 2024[14] - Adjusted net income for the twelve months ended December 31, 2025, was $182,494 thousand, up 24.0% from $147,116 thousand in 2024[33] - Net income for the three months ended December 31, 2025, was $42.639 million, compared to $38.630 million for the same period in 2024, reflecting a year-over-year increase of 10.4%[43] Asset and Loan Growth - Park's total assets amounted to $9.8 billion as of December 31, 2025[4] - The total loans increased by 3.0% during 2025, while total deposits rose by 1.2%[3] - Total loans reached $8,051,242,000 in 2025, up from $7,817,128,000 in 2024, representing a growth of 3.0%[28] - Net loans increased to $7,958,269 in 2025 from $7,729,162 in 2024, representing a growth of 2.96%[19] - Total deposits rose to $8,243,713 in 2025, up from $8,143,526 in 2024, indicating an increase of 1.23%[19] Dividends and Shareholder Equity - The quarterly cash dividend declared is $1.10 per common share, payable on March 10, 2026[1] - Total shareholders' equity increased by 1.6% to $1,352,793,000 compared to $1,331,821,000 in the previous quarter[12] - Total shareholders' equity reached $1,352,793 in 2025, compared to $1,243,848 in 2024, representing an increase of 8.75%[19] - Average shareholders' equity increased to $1,341,399 thousand for the three months ended December 31, 2025, from $1,247,680 thousand in the same period of 2024[36] Efficiency and Income Metrics - The efficiency ratio for Q4 2025 was 60.54%, reflecting an increase of 8.4% compared to Q4 2024[10] - The efficiency ratio improved to 57.94% in 2025 from 61.44% in 2024, indicating better cost management[14] - The annualized return on average assets for the three months ended December 31, 2025, was 1.68%, a decrease from 1.83% in the previous quarter[33] - The efficiency ratio for the three months ended December 31, 2025, was 60.54%, compared to 55.85% in the previous quarter, indicating a decline in operational efficiency[33] Credit Quality and Losses - Provision for credit losses decreased by 21.0% to $11,488,000 in 2025 from $14,543,000 in 2024[14] - Net loan charge-offs for the year decreased by 37.2% to $6,481,000 from $10,322,000 in 2024[14] - The provision for credit losses in Q4 2025 was $3,849, compared to $3,935 in Q4 2024, showing a decrease of 2.18%[24] - Net charge-offs for 2025 were $6,481,000, a decrease from $10,322,000 in 2024, indicating a reduction of 37.5%[28] - The allowance for credit losses as a percentage of period end loans was 1.15% in 2025, compared to 1.13% in 2024, indicating a slight increase[28] Nonperforming Loans and Assets - Total nonperforming loans decreased to $69,253,000 in 2025 from $69,932,000 in 2024, a decline of 1.0%[28] - The percentage of nonperforming assets to period end total assets was 0.71% in 2025, slightly down from 0.72% in 2024[28] - Nonaccrual loans at the end of 2025 were $66,515,000, down from $68,178,000 in 2024, showing a decline of 2.4%[31] - New nonaccrual loans in 2025 totaled $87,482,000, an increase from $65,535,000 in 2024, marking a rise of 33.4%[31] - Resolved nonaccrual loans in 2025 were $89,145,000, significantly higher than $57,616,000 in 2024, reflecting an increase of 54.7%[31] Market and Merger Information - The expected closing of the merger with First Citizens Bancshares, Inc. is set for February 1, 2026[3] - The market capitalization at the end of Q4 2025 was $2.45 billion, down 6.3% from the previous quarter[10]

NEWARK, Ohio, Jan. 26, 2026 (GLOBE NEWSWIRE) -- Park National Corporation (Park) (NYSE American: PRK) today reported financial results for the fourth quarter and full year of 2025. Park's board of directors declared a quarterly cash dividend of $1.10 per common share, payable on March 10, 2026, to common shareholders of record as of February 20, 2026. “Our performance reflects the hard work and dedication our associates demonstrate in service to others,” said Park Chairman David Trautman. “With earnings and ...

Summary of First Citizens BancShares Special Shareholders Meeting Company Overview - **Company**: First Citizens BancShares (NasdaqGS: FCNC.A) - **Event**: Special Shareholders Meeting held on January 21, 2026 - **Key Participants**: Jeff Agee (Chairman and CEO), Laura Beth Butler (Corporate Secretary), Bruce Tobin (Counsel), Kevin Howell (Audit Partner) Core Points and Arguments - **Merger Proposal**: The primary agenda was to approve the merger agreement with Park National Corporation, which was overwhelmingly supported by shareholders with over 59.9% of common stock and 58.8% of Class A shares voting in favor [5][9] - **Historical Context**: First Citizens BancShares has been operational since 1889, marking 137 years of service [10] - **Financial Growth**: Total assets increased from $500 million in 2000 to $2.6 billion by December 31, 2025, indicating significant growth [11] - **Strategic Threats**: The company faced several strategic threats, including: - Regulatory pressures from 2021 to 2024 that impacted franchise value [12] - Aging executive team and board members affecting decision-making [13] - Growth pressures necessitating expansion into new markets [13] - Capital efficiency challenges limiting lending opportunities [15] - Increased stock liquidity pressures due to family stock transfers [16][17] - Rising technology costs and the need for technological advancements [18] Merger Details - **Merger Benefits**: The merger with Park National is expected to create a company with a combined asset base of approximately $13.5 billion by the end of 2026, significantly enhancing scale and market presence [26] - **Offer Valuation**: The merger offer was valued at greater than 1.8 times tangible book value, with potential stock exchange ratios providing significant upside for First Citizens shareholders [20][21] - **Dividend Comparison**: First Citizens shareholders received $190 for 100 shares in 2025, while Park shareholders received $231, indicating a 22% increase in shareholder return from dividends [25] Community and Cultural Alignment - **Community Investment**: Park National contributed $4.8 million to approximately 1,100 community organizations, reflecting a strong commitment to community service [28] - **Cultural Similarities**: Both companies share a people-centered culture, which is expected to facilitate a smooth integration post-merger [27] Timeline and Future Outlook - **Regulatory Approval**: The merger received expedited regulatory approval, with a 98% approval rate from voting shareholders [29][30] - **Transition Plan**: The official transition to Park's Tennessee region is set for February 1, 2026, with a full brand rollout expected in Q3 2026 [30] Additional Insights - **Market Positioning**: The merger is seen as a strategic move to enhance market positioning and operational efficiency in a competitive banking landscape [19][24] - **Shareholder Sentiment**: The emotional aspect of the merger was acknowledged, emphasizing the historical significance of First Citizens BancShares [19][31] This summary encapsulates the key discussions and decisions made during the special shareholders meeting, highlighting the strategic rationale behind the merger and its anticipated benefits for shareholders and the community.

Financial Performance - Net income for the three months ended September 30, 2025, was $47,158 thousand, compared to $38,217 thousand, reflecting a growth of 23.96%[21] - Basic earnings per common share increased to $2.93 for the three months ended September 30, 2025, compared to $2.37, a rise of 23.6%[21] - For the nine months ended September 30, 2025, net income reached $137,434,000, up 21.9% from $112,790,000 in 2024[28] - Segment net income for the three months ended September 30, 2025, was $47.158 million, an increase of 23.4% compared to $38.217 million in 2024[201] - Segment net income rose to $137,434,000 for the nine months ended September 30, 2025, compared to $112,790,000 in 2024, marking a significant increase of 21.9%[202] Asset and Liability Management - Total assets increased to $9,862,068 thousand as of September 30, 2025, compared to $9,805,350 thousand at December 31, 2024, reflecting a growth of 0.58%[17] - Total liabilities decreased slightly to $8,530,247 thousand from $8,561,502 thousand, a reduction of 0.36%[18] - Retained earnings increased to $1,062,557 thousand as of September 30, 2025, compared to $977,599 thousand, an increase of 8.66%[18] - Cash and cash equivalents at the end of the period increased to $218,906,000 from $201,683,000 in 2024, marking an increase of 8.6%[29] - Total investment securities at September 30, 2025, amounted to $871,447,000, with $817,713,000 in fair value after accounting for unrealized losses[42] Loan and Deposit Growth - Net loans rose to $7,900,995 thousand, up from $7,729,162 thousand, marking an increase of 2.21%[17] - Total deposits increased to $8,329,924 thousand, compared to $8,143,526 thousand, representing a growth of 2.29%[18] - Net increase in deposits for the nine months ended September 30, 2025, was $222,034,000, compared to $170,920,000 in 2024, representing a 30% increase[29] - The total loan portfolio increased to $7.99 billion as of September 30, 2025, compared to $7.82 billion at December 31, 2024[57] Income and Expense Analysis - Net interest income after provision for credit losses was $106,987 thousand for the three months ended September 30, 2025, up from $95,799 thousand, an increase of 11.25%[20] - Total other income decreased to $30,574 thousand for the three months ended September 30, 2025, down from $36,530 thousand, a decline of 16.3%[21] - Other income for the nine months ended September 30, 2025, totaled $88,506,000, down from $91,524,000 in 2024, indicating a decrease of 3.3%[204] - The total charge-offs for the nine months ended September 30, 2025, were $11.490 million, while recoveries were $7.643 million, resulting in net charge-offs of $3.847 million[111] Credit Quality and Provisions - The provision for credit losses for the nine months ended September 30, 2025, was $7,639,000, down from $10,608,000 in 2024, showing a decrease of 28.3%[28] - The allowance for credit losses was $91.8 million as of September 30, 2025, up from $88.0 million at December 31, 2024[57] - Nonperforming loans totaled $90.6 million at September 30, 2025, compared to $69.9 million at December 31, 2024, indicating a rise in credit quality concerns[60][62] - The total past due loans at September 30, 2025 were $47,699,000, with $26,816,000 past due 30-89 days and $20,883,000 nonaccrual loans[67] Shareholder Returns and Dividends - Regular cash dividends declared per common share increased to $1.07 for the three months ended September 30, 2025, compared to $1.06, a rise of 0.94%[21] - Total dividends on common shares were $17,394,000 for the three months ended September 30, 2025, maintaining a consistent dividend payout[25] - Cash dividends paid increased slightly to $52,615,000 in 2025 from $52,288,000 in 2024, reflecting a 0.6% increase[29] Investment and Financing Activities - The company reported cash paid for interest at $86,491,000 for the nine months ended September 30, 2025, down from $95,288,000 in 2024, a decrease of 9.4%[29] - The company reported affordable housing tax credit investments of $71.251 million as of September 30, 2025, an increase from $66.077 million at December 31, 2024[119] - The company issued 32,365 common shares under share-based compensation awards during the period, indicating ongoing employee incentive programs[25] Economic Outlook and Risk Management - The "most likely" unemployment scenario for Ohio is forecasted to be between 5.05% and 5.49% for the next four quarters as of September 30, 2025, indicating ongoing economic uncertainty[108] - Management has excluded data from 2020-2022 in the loss driver analysis due to external interventions during the COVID-19 pandemic, which may not recur in future downturns[106] - The economic forecast considers various scenarios, with management weighing the "most likely" and "moderate recession" scenarios equally at 50% as of September 30, 2025[108] Merger and Acquisition Activities - The merger agreement with First Citizens Bancshares, Inc. was announced on October 27, 2025, with Park continuing as the surviving corporation[210] - Each share of First Citizens common stock will be converted into the right to receive 0.52 of a share of Park common stock upon the merger[211] - The completion of the merger is subject to customary conditions, including shareholder approval and regulatory consents[213]

Core Insights - DFCU Financial has completed its business combination with Winter Park National Bank, rebranding all locations under the DFCU Financial name [1][2] - This acquisition enhances DFCU Financial's presence in Florida, creating a more robust financial institution for members in both Michigan and Florida [2][3] Company Overview - DFCU Financial is a Michigan-based credit union founded in 1950, with over 240,000 members and assets nearing $8 billion [7] - The organization operates 28 branches in Michigan and has expanded its footprint with locations in Central Florida, including five in the Tampa Bay area [7] Leadership and Integration - David Dotherow, former CEO of Winter Park National Bank, has been appointed as Central Florida Area President for DFCU Financial, focusing on growth and community relationships [5][6] - A full systems integration is expected to be completed by March 2026, allowing all former Winter Park National Bank clients to access DFCU Financial's full range of products and services [3][4] Strategic Goals - The merger aims to leverage Winter Park's local relationships and DFCU's resources to provide more comprehensive and innovative financial solutions [3][6] - DFCU Financial is committed to serving individuals in various counties across Florida, expanding its community impact [4]

Core Insights - Park National reported revenue of $141.59 million for the quarter ended September 2025, reflecting a year-over-year increase of 2.9% and a surprise of +1.07% over the Zacks Consensus Estimate of $140.1 million [1] - Earnings per share (EPS) for the quarter was $2.87, up from $2.25 in the same quarter last year, with an EPS surprise of +5.13% compared to the consensus estimate of $2.73 [1] Financial Metrics - Net Interest Margin stood at 4.7%, matching the average estimate of three analysts [4] - Efficiency ratio was reported at 55.9%, better than the average estimate of 58.1% from three analysts [4] - Total Non-Interest Income was $30.57 million, slightly below the average estimate of $30.9 million based on three analysts [4] - Net Interest Income reached $111.02 million, exceeding the average estimate of $109.19 million from three analysts [4] Stock Performance - Park National's shares have returned -3.7% over the past month, contrasting with the Zacks S&P 500 composite's +2.5% change [3] - The stock currently holds a Zacks Rank 1 (Strong Buy), indicating potential for outperformance in the near term [3]