UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________________ to __________________________ Commission File Number 1-13006 PARK NATIONAL CORPORATION (Exact name of registrant as specified in its cha ...

July 28, 2025 Exhibit 99.1 Park National Corporation reports financial results for second quarter and first half of 2025 NEWARK, Ohio ‒ Park National Corporation (Park) (NYSE American: PRK) today reported financial results for the second quarter and first half of 2025. Park's board of directors declared a quarterly cash dividend of $1.07 per common share, payable on September 10, 2025, to common shareholders of record as of August 15, 2025. "Our quarterly and mid-year performance reflects our organization's ...

NEWARK, Ohio, July 28, 2025 (GLOBE NEWSWIRE) -- Park National Corporation (Park) (NYSE American: PRK) today reported financial results for the second quarter and first half of 2025. Park's board of directors declared a quarterly cash dividend of $1.07 per common share, payable on September 10, 2025, to common shareholders of record as of August 15, 2025. “Our quarterly and mid-year performance reflects our organization’s soundness and our bankers’ unwavering dedication,” said Park Chairman and CEO David Tra ...

Park National (PRK) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.Analysts' growing optimism on the earnings prospects of this financial services holding company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends ...

Financial Performance - Net income for the first quarter of 2025 was $42,157 thousand, up from $35,204 thousand in the first quarter of 2024, representing a year-over-year increase of 19.4%[21]. - Earnings per common share increased to $2.61 for the three months ended March 31, 2025, compared to $2.18 for the same period in 2024, a rise of 19.7%[21]. - Net interest income after provision for credit losses was $103,621 thousand for the three months ended March 31, 2025, compared to $93,443 thousand for the same period in 2024, marking an increase of 10.4%[20]. - Total consolidated revenues rose to $157,946,000 in Q1 2025, compared to $152,840,000 in Q1 2024, marking an increase of 3.3%[183]. - Segment net income improved to $42,157,000 in Q1 2025, up from $35,204,000 in Q1 2024, reflecting a growth of 19.4%[183]. - Pre-tax, pre-provision net income for Q1 2025 was $52.0 million, reflecting a 16.5% increase from $44.6 million in Q1 2024[212]. Asset and Liability Management - Total assets increased to $9,886,612 thousand as of March 31, 2025, up from $9,805,350 thousand at December 31, 2024, representing a growth of 0.83%[17]. - Total liabilities increased to $8,607,570 thousand as of March 31, 2025, from $8,561,502 thousand at December 31, 2024, an increase of 0.54%[18]. - Shareholders' equity rose to $1,279,042 thousand as of March 31, 2025, compared to $1,243,848 thousand at the end of 2024, reflecting an increase of 2.83%[18]. - Cash and cash equivalents at the end of the period were $237,614,000, down from $306,081,000, representing a decline of 22.4%[28]. - Total investment securities as of March 31, 2025, amounted to $938,239,000, down from $996,624,000 at the end of 2024[39]. Loan Performance - Net loans rose to $7,795,605 thousand, compared to $7,729,162 thousand at the end of 2024, reflecting an increase of 0.86%[17]. - Nonperforming loans totaled $63.1 million at March 31, 2025, consisting of $61.9 million in nonaccrual loans and $1.2 million in loans past due 90 days or more[56]. - The total amortized cost of loans at March 31, 2025, was $7,883.7 million, an increase from $7,817.1 million at December 31, 2024[52]. - The net loan originations for portfolio loans were $(65,674,000), an increase in outflows compared to $(49,533,000) in Q1 2024[28]. - The total loans past due 90 days or more and accruing amounted to $1,200,000[62]. Credit Losses and Provisions - Provision for credit losses decreased to $756,000 from $2,180,000, indicating a reduction of 65.3%[27]. - The Allowance for Credit Losses (ACL) at March 31, 2025, was $88.130 million, compared to $85.084 million at December 31, 2024, indicating an increase in provisions[96]. - The total allowance for nonaccrual loans was $1.044 million as of March 31, 2025, compared to $1.299 million at December 31, 2024, indicating a decrease of approximately 19.7%[169]. - The net charge-offs for the three months ended March 31, 2025, were $592, while the net charge-offs for the same period in 2024 were $841[96]. Investment and Other Income - Other comprehensive income for the first quarter of 2025 was $11,516 thousand, compared to a loss of $204 thousand in the first quarter of 2024[23]. - The company recognized tax credits and other benefits from affordable housing investments amounting to $2.8 million for the three months ended March 31, 2025, compared to $2.6 million for the same period in 2024[111]. - The total fair value of financial assets was $8.1 billion as of March 31, 2025, compared to $8.2 billion at December 31, 2024, indicating a decrease of approximately 1.2%[175]. Economic Outlook and Management Commentary - Management emphasized the importance of economic forecasts in determining the allowance for credit losses, which could significantly impact future earnings[205]. - The economic forecast considers various scenarios, with management maintaining a 50% weighting on both the "most likely" and "moderate recession" scenarios as of March 31, 2025[94]. - The adverse scenario analysis suggests a potential increase in the allowance for credit losses (ACL) of $28.3 million if only the adverse scenario is used[207].

Shares of Park National have returned -3.1% over the past month versus the Zacks S&P 500 composite's -4.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Park National performed in the just reported quarter in terms of the ...

Park National (PRK) came out with quarterly earnings of $2.57 per share, beating the Zacks Consensus Estimate of $2.20 per share. This compares to earnings of $2.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 16.82%. A quarter ago, it was expected that this financial services holding company would post earnings of $2.27 per share when it actually produced earnings of $2.36, delivering a surprise of 3.96%.Over the last four ...

Financial Performance - Park National Corporation reported a net income of $42.2 million for Q1 2025, a 19.8% increase from $35.2 million in Q1 2024[2] - The diluted earnings per common share for Q1 2025 was $2.60, compared to $2.17 in Q1 2024, reflecting a 19.8% increase[2] - Net income for the three months ended March 31, 2025, was $42,157, representing a 19.4% increase from $35,204 in the same period last year[13] - Net income for Q1 2025 reached $42,157,000, up from $38,630,000 in Q4 2024, representing an increase of 4.1%[20] - Net interest income after provision for credit losses was $103,621, up 10.9% from $93,443 in the prior year[13] - Net interest income adjusted for acquisitions was $103,183 thousand for the three months ended March 31, 2025, compared to $95,269 thousand for the same period in 2024, reflecting a year-over-year increase of 8.5%[29] - Total other income decreased to $25,746,000 in Q1 2025 from $31,064,000 in Q4 2024, a decline of 17.2%[22] - Other income adjusted was $26,886 thousand for Q1 2025, slightly up from $26,625 thousand in Q1 2024, showing stability in non-interest income sources[29] Asset and Loan Growth - Total loans increased by 0.9% (3.5% annualized) during Q1 2025, while reported period-end deposits rose by 0.7% (2.9% annualized)[2] - Total loans reached $7,883,735, a 0.9% increase from the previous quarter and a 4.8% increase year-over-year[10] - Total assets reached $9.9 billion as of March 31, 2025[3] - Total assets as of March 31, 2025, were $9,886,612 thousand, a slight increase from $9,881,077 thousand at the end of Q1 2024[34] - Total deposits rose to $8,201,695, reflecting a 0.7% increase from the previous quarter but a 1.3% decrease year-over-year[10] Credit Quality and Losses - The provision for credit losses decreased by 80.8% to $756, compared to $3.9 million in Q4 2024[8] - Provision for credit losses was $756,000 in Q1 2025, significantly lower than $3,935,000 in Q4 2024, indicating improved asset quality[20] - Net charge-offs for the current period were $592,000, a significant decrease from $10,322,000 in the previous year, representing a reduction of 94.25%[24] - Nonperforming loans decreased to $63,148, down 9.7% from the previous quarter and 12.0% year-over-year[10] - The percentage of nonperforming loans to period end loans was 0.80%, down from 0.89% in the previous year, reflecting an improvement of 10.11%[24] - The provision for credit losses was $756,000, a decrease from $14,543,000 in the previous year, representing a reduction of 94.79%[24] Efficiency and Capital - The efficiency ratio improved to 59.79% in Q1 2025, compared to 61.60% in Q4 2024[8] - Tangible equity increased to $1,116,284 thousand as of March 31, 2025, compared to $998,052 thousand in Q1 2024, indicating a stronger capital position[32] - Return on average assets for Q1 2025 was 1.70%, up from 1.54% in Q4 2024[8] - Annualized return on average assets was 1.70% for Q1 2025, up from 1.44% in Q1 2024, indicating improved asset efficiency[29] - Pre-tax, pre-provision net income for Q1 2025 was $51,959 thousand, up from $44,595 thousand in Q1 2024, highlighting robust operational performance[38] Dividends - The quarterly cash dividend declared per common share was $1.07, a 0.9% increase from $1.06 in the previous quarter[8] - The quarterly dividend declared was $1.07, compared to $1.06 in the same quarter last year[13]

NEWARK, Ohio, April 25, 2025 (GLOBE NEWSWIRE) -- Park National Corporation (Park) (NYSE American: PRK) today reported financial results for the first quarter of 2025. Park's board of directors declared a quarterly cash dividend of $1.07 per common share, payable on June 10, 2025, to common shareholders of record as of May 16, 2025. “Our first quarter performance reflects our commitment to providing consistent financial support and a measure of predictability in dynamic market conditions,” said Park Chairman ...

Group 1 - Park National Corporation's stock price has experienced a sharp correction since the last sell rating was adopted [1] - Following the announcement of fourth quarter results, earnings are expected to continue growing this year due to below-average loan growth [1]