PARK NATIONAL CORPORATION PRK Income Statement

Park national corporation (PRK)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Interest and dividend income:
Interest and fees on loans
80,687	82,698	84,213	82,471	72,003	72,342	69,905	64,496	64,402	64,447	63,110	61,222	59,908	63,633	59,893	58,401	60,052	58,424	57,680	56,463	55,412	58,395	57,492	57,004	54,753	57,038	56,337	56,388	55,775	57,671	58,269	57,593	61,105	65,497	65,645	65,862	65,454	67,405	67,123	66,723	66,441	69,339	68,496
Interest and Dividend Income, Securities, by Classification [Abstract]
Interest and dividends on:
Obligations of U.S. Government, its agencies and other securities
5,531	5,973	6,326	6,919	6,995	7,275	7,691	7,746	6,767	6,653	6,757	6,892	7,138	6,909	7,339	7,770	8,609	8,360	9,163	9,113	9,389	9,223	9,011	9,271	9,476	8,891	8,880	8,673	10,242	10,984	12,187	13,794	13,584	14,571	16,289	18,960	19,053	16,768	19,333	20,263	20,475	22,204	23,201
Interest Income, Securities, State and Municipal
2,200	2,205	2,225	2,308	2,217	2,213	2,205	2,178	2,174	2,112	1,974	1,664	1,460	979	689	591	373	170	12	0	0	-	-	-	2	5	7	16	17	19	33	42	46	61	69	92	149	173	192	204	217	316	393
Other interest income
491	953	1,825	528	641	337	428	271	371	757	1,383	698	249	176	321	249	274	211	232	228	217	197	119	88	111	132	186	202	158	119	129	57	103	102	62	8	6	45	34	52	69	9	2
Total interest and dividend income
88,909	91,829	94,589	92,226	81,856	82,167	80,229	74,691	73,714	73,969	73,224	70,476	68,755	71,697	68,242	67,011	69,308	67,165	67,087	65,804	65,018	67,816	66,622	66,363	64,342	66,066	65,410	65,279	66,192	68,793	70,618	71,486	74,838	80,231	82,065	84,922	84,662	84,391	86,682	87,242	87,202	91,868	92,092
Interest on deposits:
Demand and savings deposits
6,342	7,795	9,649	8,811	7,093	6,006	6,412	4,107	3,290	2,677	2,882	2,291	1,614	1,228	1,094	933	824	573	614	556	486	445	440	399	393	382	422	468	501	491	636	602	754	894	976	951	991	1,133	1,263	1,582	1,775	2,768	2,809
Time deposits
4,285	4,666	4,694	4,357	3,777	3,610	3,328	2,886	2,551	2,490	2,521	2,457	2,161	2,209	2,352	2,389	2,387	2,453	2,508	2,542	2,622	2,776	2,136	2,133	2,278	2,516	2,729	2,900	3,090	3,404	3,757	4,121	4,639	5,247	5,661	6,200	6,734	7,512	8,532	9,518	10,650	13,362	13,800
Interest on borrowings:
Short-term borrowings
462	499	478	760	739	317	288	420	575	376	197	184	235	126	84	82	164	121	109	106	133	134	130	127	126	134	132	134	144	172	168	163	175	181	182	193	267	266	269	302	344	688	811
Long-term debt
1,537	1,860	2,667	2,447	2,471	2,604	2,525	2,536	2,448	4,948	6,073	5,766	5,793	5,885	6,179	6,122	6,114	6,151	6,141	6,085	6,242	7,167	7,207	7,143	7,065	7,134	7,167	7,065	7,004	7,835	8,041	7,920	7,542	7,630	7,626	7,556	7,357	6,982	7,173	7,119	7,053	6,588	6,678
Total interest expense
12,626	14,820	17,488	16,375	14,080	12,537	12,553	9,949	8,864	10,491	11,673	10,698	9,803	9,448	9,709	9,526	9,489	9,298	9,372	9,289	9,483	10,522	9,913	9,802	9,862	10,166	10,450	10,567	10,739	11,902	12,602	12,806	13,110	13,952	14,445	14,900	15,349	15,893	17,237	18,521	19,822	23,406	24,098
Net interest income
76,283	77,009	77,101	75,851	67,776	69,630	67,676	64,742	64,850	63,478	61,551	59,778	58,952	62,249	58,533	57,485	59,819	57,867	57,715	56,515	55,535	57,294	56,709	56,561	54,480	55,900	54,960	54,712	55,453	56,891	58,016	58,680	61,728	66,279	67,620	70,022	69,313	68,498	69,445	68,721	67,380	68,462	67,994
Provision for loan losses
5,153	-213	1,967	1,919	2,498	3,359	2,940	1,386	260	-183	3,283	4,581	876	-1,282	-7,366	2,637	910	-658	2,404	1,612	1,632	-8,349	4,501	-1,260	-2,225	-85	2,498	673	329	5,188	16,655	5,238	8,338	20,218	16,438	12,516	14,100	42,626	14,654	13,250	16,550	14,958	15,856
Net interest income after provision for loan losses
71,130	77,222	75,134	73,932	65,278	66,271	64,736	63,356	64,590	63,661	58,268	55,197	58,076	63,531	65,899	54,848	58,909	58,525	55,311	54,903	53,903	65,643	52,208	57,821	56,705	55,985	52,462	54,039	55,124	51,703	41,361	53,442	53,390	46,061	51,182	57,506	55,213	25,872	54,791	55,471	50,830	53,504	52,138
Noninterest Income [Abstract]
Unrealized gain loss on equity securities
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,367	3,465	15,362	6,635	45	0	3,515	8,304	0	7,340
Non-yield loan fee income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,895	5,738
Debit card fee income
4,960	5,341	5,313	5,227	4,369	4,581	4,352	4,382	4,002	4,023	3,974	4,040	3,761	-	3,780	3,868	3,532	3,902	3,643	3,665	3,351	3,433	3,431	3,493	3,213	3,330	3,326	3,316	2,983	3,151	3,038	3,180	3,172	3,115	3,154	3,251	2,976	3,068	2,900	2,765	2,444	2,342	2,381
Bank owned life insurance income
1,248	1,158	1,107	1,286	1,006	2,190	2,585	1,031	1,009	1,068	1,573	1,114	1,103	1,054	1,038	1,049	1,197	1,245	1,574	1,086	1,878	1,153	1,420	1,026	1,262	1,274	1,311	1,254	1,202	1,184	1,184	1,184	1,202	1,403	1,229	1,228	1,229	1,195	1,313	1,254	1,216	1,297	1,235
ATM Fees
412	446	482	460	440	444	500	510	524	545	605	561	542	534	581	570	583	588	648	614	578	583	654	636	594	-	-	677	627	650	565	536	608	641	726	682	654	655	699	832	765	-	-
OREO devaluations
-	-	41	55	-	93	77	114	207	91	22	272	73	29	233	221	118	319	718	251	304	380	935	675	416	951	2,030	600	-401	2,440	425	2,648	1,359	1,741	588	3,355	2,535	8,587	1,555	1,919	1,145	-	-
Gains (Losses) on Sales of Other Real Estate
-196	2	-53	-159	-12	142	-81	-147	4,321	47	51	53	100	244	783	162	134	175	243	513	673	45	2,149	2,603	706	358	895	1,633	224	1,028	138	2,203	1,045	-	210	330	-	-	-	-	-	-	-
Gain (Loss) on Sale of Investments
-	-	186	-607	-	0	0	0	-2,271	1,821	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss (gain) on equity securities, net
-973	-191	3,335	232	1,742	-310	89	1,348	3,489	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other components of net periodic benefit income
1,988	1,183	1,183	1,183	1,183	1,705	1,705	1,705	1,705	1,450	1,448	1,448	1,448	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Sales of Loans, Net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	756	1,867	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of Vision Bank business
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	22,167	-	0	0	-	-	-	-	-	-	-
Other
1,600	2,000	2,700	1,600	1,200	2,300	2,500	1,600	800	253	3,403	1,127	617	2,542	1,831	944	951	1,839	2,708	1,645	1,347	2,026	1,322	1,294	1,171	1,495	2,109	1,268	1,485	1,869	1,299	1,438	2,152	2,870	1,700	1,814	2,438	2,420	1,924	1,619	2,280	1,772	1,831
Total other income
22,486	24,224	28,136	22,808	22,025	26,892	24,064	23,242	26,903	23,238	23,537	20,699	18,955	27,379	20,535	18,736	17,389	19,296	20,191	19,191	18,873	19,834	19,396	19,671	16,648	17,778	17,396	19,298	18,805	17,196	18,079	17,508	39,620	46,715	18,027	15,138	15,030	23,993	17,530	16,647	16,710	18,165	19,757
Other expense:
Salaries and employee benefits
28,429	30,903	30,713	32,093	25,805	27,103	27,229	24,103	25,320	23,157	23,302	23,001	22,717	22,140	22,084	21,256	21,554	22,520	21,692	20,995	20,982	10,262	20,515	26,140	25,060	5,802	25,871	24,679	24,633	24,086	24,255	22,813	24,823	25,952	25,799	25,253	25,064	24,631	24,500	24,013	25,171	25,589	25,334
Employee Benefits and Share-based Compensation
10,043	8,973	10,389	9,014	8,430	7,977	7,653	7,630	7,029	6,320	5,943	6,206	6,468	9,434	5,073	4,894	4,773	4,161	6,721	4,729	5,685	-	5,728	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Occupancy expense
3,480	3,355	3,226	3,223	3,011	2,769	2,976	2,570	2,936	2,442	2,559	2,565	2,635	2,546	2,506	2,639	2,548	2,257	2,469	2,381	2,579	2,378	2,339	2,457	2,832	2,415	2,348	2,444	2,597	2,222	2,303	2,249	2,670	2,866	2,665	2,764	3,000	2,760	2,840	2,793	3,117	2,772	2,882
Furniture and equipment expense
4,319	4,319	4,177	4,386	4,150	4,170	3,807	4,013	4,149	4,198	3,868	3,640	3,618	3,470	3,437	3,416	3,443	3,069	3,044	2,831	2,862	2,709	2,870	2,994	2,998	3,022	2,639	2,981	2,607	2,774	2,666	2,727	2,621	2,643	2,688	2,785	2,657	2,615	2,624	2,564	2,632	2,463	2,498
Data processing fees
2,492	2,777	2,935	2,905	2,133	2,222	2,580	1,902	1,773	1,690	1,919	1,676	1,965	1,568	1,450	1,373	1,217	1,190	1,383	1,197	1,267	1,196	1,281	1,121	1,114	1,064	1,042	1,049	1,019	913	904	899	1,200	1,393	1,184	1,135	1,253	1,338	1,403	1,394	1,593	1,323	1,459
Professional fees and services
7,066	10,503	6,702	10,106	6,006	8,516	8,065	6,123	6,190	7,886	6,100	6,018	4,829	8,757	6,356	5,401	6,667	7,751	5,424	5,583	4,694	8,195	6,934	8,168	6,283	10,520	5,601	5,880	5,864	6,846	6,040	5,800	5,581	5,920	5,005	5,320	4,874	5,340	4,477	5,299	4,856	3,725	3,605
Marketing
1,486	1,468	1,604	1,455	1,226	1,377	1,364	1,185	1,218	1,112	1,122	1,084	1,056	1,277	1,062	1,073	1,111	975	1,058	937	1,013	1,160	1,087	1,006	1,118	1,126	863	953	848	1,002	924	705	843	852	764	728	623	968	840	946	902	983	939
Insurance
1,550	317	276	1,381	1,156	1,277	1,388	1,196	1,428	1,768	1,499	1,517	1,570	1,553	1,423	1,438	1,411	1,407	1,399	1,362	1,461	1,413	1,396	1,467	1,447	1,391	1,174	1,338	1,302	1,482	1,408	1,400	1,490	1,526	681	2,345	2,269	2,136	2,316	2,333	2,198	2,254	5,840
Communication
1,155	1,256	1,387	1,375	1,333	1,335	1,207	1,189	1,250	1,228	1,110	1,155	1,333	1,257	1,154	1,353	1,221	1,321	1,245	1,233	1,331	1,328	1,304	1,293	1,343	1,489	1,268	1,453	1,580	1,482	1,470	1,494	1,537	1,544	1,475	1,485	1,556	1,536	1,696	1,647	1,769	1,652	1,619
Excise and Sales Taxes
1,145	1,024	746	1,054	1,005	750	1,000	958	1,105	665	912	943	1,063	941	895	798	926	857	779	883	1,047	740	-350	925	975	917	929	928	928	931	933	933	989	-	-	-	-	-	-	-	-	-	-
Amortization of Intangible Assets
606	623	741	702	289	289	289	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	139	139	140	1,754	1,527	669	669	669	822	822	842	936	936	937
Loan put provision
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	90	-154	2,701	662	-	0	0	-	-	-	-	-	-	-
OREO expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	234	244	308	1,277	563	687	969	512	1,521	661	1,106	723	-	-	-	-	-	-	-	-	-	-
State taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	865	838	845	892	949
Other expense
4,505	5,713	2,842	2,498	2,283	4,812	1,758	1,665	1,910	2,973	2,925	1,749	1,656	3,873	1,316	1,665	5,028	2,758	2,215	2,536	2,799	6,640	1,624	362	1,332	-3,490	2,293	3,896	4,208	-2,318	4,134	2,837	3,577	332	4,669	4,523	4,381	393	3,313	4,332	3,871	3,463	4,089
Total other expense
66,276	71,231	65,738	70,192	56,827	62,597	59,316	52,534	54,308	53,439	51,259	49,554	48,910	62,370	46,756	45,306	49,899	48,798	47,429	44,667	45,720	50,518	44,972	46,241	45,779	44,132	44,715	46,570	46,098	48,011	45,683	45,804	48,470	49,365	45,599	47,007	46,346	46,520	45,696	47,001	47,890	46,052	50,151
Income before income taxes
27,340	30,215	37,532	26,548	30,476	30,566	29,484	34,064	37,185	33,460	30,546	26,342	28,121	28,540	39,678	28,278	26,399	29,023	28,073	29,427	27,056	34,959	26,632	31,251	27,574	29,631	25,143	26,767	27,831	20,888	13,757	25,146	44,540	17,949	27,075	40,999	30,532	-8,474	26,625	28,632	27,954	25,617	29,084
Income taxes
4,968	6,279	6,386	4,385	5,021	4,305	4,722	5,823	6,062	10,629	8,434	7,310	7,854	8,538	12,229	8,280	7,713	8,134	8,033	8,388	8,012	10,658	8,363	9,441	7,997	12,535	6,114	6,733	7,121	4,601	1,775	6,260	13,065	1,251	6,694	12,046	8,336	-3,892	7,048	7,466	7,175	6,418	7,777
Net income
22,372	23,936	31,146	22,163	25,455	26,261	24,762	28,241	31,123	22,831	22,112	19,032	20,267	20,002	27,449	19,998	18,686	20,889	20,040	21,039	19,044	24,301	18,269	21,810	19,577	17,096	19,029	20,034	20,710	16,287	11,982	18,886	31,475	10,610	20,381	28,953	22,196	-3,421	19,577	21,166	20,779	19,199	21,307
Preferred share dividends and accretion
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1,948	1,477	1,464	1,464	1,464	1,464	1,452	1,452	1,451	1,452	1,440	1,441
Net Income (Loss) Available to Common Stockholders, Basic
-	-	31,146	22,163	-	-	24,762	28,241	31,123	-	22,112	19,032	20,267	-	27,449	19,998	18,686	-	20,040	21,039	19,044	-	18,269	21,810	19,577	-	19,029	20,034	20,710	16,287	11,982	16,938	29,998	9,146	18,917	27,489	20,732	-4,873	18,125	19,715	19,327	17,759	19,866
Per Common Share:
Net income available to common shareholders
Basic
1.37	1.46	1.90	1.34	1.63	1.66	1.58	1.85	2.04	1.50	1.45	1.24	1.32	1.31	1.79	1.30	1.22	1.36	1.30	1.37	1.24	1.57	1.19	1.42	1.27	1.12	1.23	1.30	1.34	1.05	0.78	1.10	1.95	0.58	1.23	1.79	1.35	-0.34	1.19	1.30	1.30	1.25	1.42
Diluted
1.36	1.45	1.89	1.33	1.62	1.66	1.56	1.83	2.02	1.48	1.44	1.24	1.31	1.30	1.78	1.30	1.21	1.36	1.30	1.37	1.23	1.57	1.19	1.42	1.27	1.12	1.23	1.30	1.34	1.05	0.78	1.10	1.95	0.58	1.23	1.79	1.35	-0.34	1.19	1.30	1.30	1.25	1.42
Weighted average common shares outstanding
Basic
16,303	-	16,382	16,560	15,651	-	15,686	15,285	15,288	-	15,287	15,297	15,312	-	15,330	15,330	15,330	-	15,361	15,370	15,379	-	15,392	15,392	15,401	-	15,411	15,411	15,411	-	15,405	15,405	15,405	-	15,398	15,398	15,398	-	15,272	15,114	14,882	14,193	14,001
Diluted
16,425	-	16,475	16,642	15,744	-	15,832	15,417	15,431	-	15,351	15,398	15,432	-	15,399	15,399	15,406	-	15,401	15,407	15,421	-	15,413	15,412	15,414	-	15,411	15,411	15,411	-	15,405	15,405	15,417	-	15,398	15,399	15,403	-	15,272	15,114	14,882	14,193	14,001
Cash dividends declared
1.22	-	1.01	1.01	1.21	-	0.96	1.21	0.94	-	0.94	0.94	0.94	-	0.94	0.94	0.94	-	0.94	0.94	0.94	-	0.94	0.94	0.94	-	0.94	0.94	0.94	-	0.94	0.94	0.94	-	0.94	0.94	0.94	-	0.94	0.94	0.94	0.94	0.94
Fiduciary and Trust [Member]
Revenue from Contract with Customer, Including Assessed Tax
7,113	7,268	6,842	6,935	6,723	6,814	6,418	6,666	6,395	6,264	5,932	6,025	5,514	5,534	5,315	5,438	5,113	5,140	4,933	5,210	4,912	5,050	4,734	4,825	4,541	4,590	4,139	4,328	4,076	4,056	4,019	4,044	3,828	3,699	3,615	3,929	3,722	3,610	3,314	3,528	3,422	3,071	3,140
Deposit Account [Member]
Revenue from Contract with Customer, Including Assessed Tax
2,528	2,757	2,864	2,655	2,559	2,852	2,861	2,826	2,922	3,142	3,216	3,156	3,139	3,461	3,800	3,575	3,423	3,777	3,909	3,684	3,381	3,651	4,171	3,942	3,659	4,169	4,255	4,070	3,822	4,235	4,244	4,154	4,071	4,643	4,894	4,525	4,245	4,853	5,026	5,092	4,746	5,788	5,432
Bank Servicing [Member]
Revenue from Contract with Customer, Including Assessed Tax
3,800	4,400	4,300	4,000	2,800	3,366	3,200	3,500	4,200	3,554	3,357	3,447	2,804	4,854	3,640	3,351	2,574	2,861	3,251	3,025	2,301	3,564	2,450	2,527	1,918	2,185	3,391	3,352	3,985	3,463	4,017	3,417	2,734	2,484	3,087	2,734	2,301	3,449	3,909	3,476	2,982	-	-
Noninterest Income, Other
-	-	-	-	-	-	-	-	-	-	3,400	3,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-