Park National (US:PRK) Globenewswireยท2025-04-25 20:15Core Insights - Park National Corporation reported a net income of $42.2 million for Q1 2025, representing a 19.8% increase from $35.2 million in Q1 2024 [2][9] - The company declared a quarterly cash dividend of $1.07 per common share, payable on June 10, 2025 [1][9] - Total assets as of March 31, 2025, were $9.9 billion, with total loans increasing by 0.9% during the quarter [3][11] Financial Performance - Net income per diluted common share rose to $2.60 in Q1 2025 from $2.17 in Q1 2024, marking a 19.8% increase [2][9] - Net interest income for Q1 2025 was $104.4 million, up 9.2% from $95.6 million in Q1 2024 [9][15] - The provision for credit losses decreased significantly by 80.8% to $756,000 compared to $2.18 million in Q1 2024 [9][15] Loan and Deposit Growth - Total loans increased by 0.9% (3.5% annualized) during Q1 2025 [2][11] - Total deposits rose by 0.7% (2.9% annualized) during the same period, with a notable increase of 2.3% (9.5% annualized) when including off-balance sheet deposits [2][11] Asset Quality and Capital - Total nonperforming loans decreased by 9.7% to 63,148 as of March 31, 2025, compared to 69,932 at the end of 2024 [11][12] - The allowance for credit losses as a percentage of period-end loans was 1.12% [12] - Total shareholders' equity increased by 2.8% to $1.28 billion from $1.24 billion at the end of 2024 [11][19] Market Data - The market price per common share at the end of Q1 2025 was $151.40, down 11.7% from $171.43 at the end of Q4 2024 [9][11] - The company's market capitalization at the end of Q1 2025 was approximately $2.45 billion [9][11]