Park National Bank announces completion of First Citizens National Bank merger

Core Viewpoint - Park National Corporation has successfully completed its merger with First Citizens Bancshares, enhancing its community banking presence and expanding into Tennessee [1][2]. Group 1: Merger Details - The merger was finalized on February 1, 2026, through an all-stock transaction, combining Park National Bank and First Citizens National Bank [1]. - The combined entity has pro forma total assets of $12.6 billion, deposits of $10.5 billion, and loans of $9.6 billion as of December 31, 2025 [2]. - Park National now operates over 100 branches across Ohio, Kentucky, North Carolina, South Carolina, and Tennessee [2]. Group 2: Leadership and Integration - Jeffrey D. Agee, former CEO and Chairman of First Citizens, has joined Park's Board of Directors and will lead the new Tennessee Region [3]. - First Citizens National Bank will operate as a division of Park National Bank until conversion activities are completed later in the year [4]. - Customers of First Citizens will not need to take any immediate action and will receive information regarding account changes in the coming months [4]. Group 3: Strategic Outlook - The merger is viewed as a significant opportunity for growth, allowing the combined organization to enhance service delivery and community banking [5]. - Park National Corporation has engaged financial advisors Piper Sandler & Co. and Hovde Group, LLC for the merger process [5][6].