2019 Annual Report
FAIRFIELD
FAIRFIELD
FAIRFIELD
FAIRFIELD
FAIRFIELD
NATIONAL
NATIONAL
NATIONAL
NATIONAL
NATIONAL
BANK
BANK
BANK
BANK
BANK
DIVISION OF THE PARK NATIONAL BANK
DIVISION OF THE PARK NATIONAL BANK
DIVISION OF THE PARK NATIONAL BANK
DIVISION OF THE PARK NATIONAL BANK
DIVISION OF THE PARK NATIONAL BANK
PARK
PARK
PARK
PARK
PARK
NATIONAL BANK
NATIONAL BANK
NATIONAL BANK
NATIONAL BANK
NATIONAL BANK
FAIRFIELD
NATIONAL
BANK
DIVISION OF THE PARK NATIONAL BANK
PARK
NATIONAL BANK
New look.
Same bank.
Bigger promise.
Where you mean more.
For decades, our 12 community banking divisions have
shared common values and a like-minded approach to
service, but have operated under different brand names.
We are unifying under the Park National name. We will
more easily and consistently deliver more banking
options that put the full breadth and depth of our
resources to work for our customers, while maintaining
the same hands-on, personalized services we’re known
for delivering.
Fellow Shareholders,
In his book, Lead the Field, Earl Nightingale talks about the
power of establishing a clear goal. Using one of his favorite
analogies, Nightingale wrote the following:
“If you should visit a ship in port and ask the captain for his next port
of call, he’ll tell you in a single sentence. Even though the captain cannot see his
port, his destination, for fully 99% of the voyage, he knows that it’s there, and
that barring an unforeseen and highly unlikely catastrophe, he’ll reach it.”
We embarked on a trip last year. We did not leave from New York City and we weren’t
headed for London. We were headed on a Brand Journey. Our clear goal was to
identify the brand story that would unite our organization, simplify our operations and
clarify our story to our stakeholders. Though we could not see that goal for a long
time, we knew it was there and that we’d reach it. Here’s how we did it:
Our Brand Journey
Readers of last year’s letter will recall your board of directors approved a new
strategic plan in October 2018. In that plan, we identified seven stakeholders we
serve: Customers, Associates, Communities, Partners, Shareholders, Boards and
Regulators. A number of initiatives occurred to us as we considered the question,
“How can we serve our stakeholders more?” We concluded none was more important
than clarifying our brand story.
As we entered 2018, we had already begun thinking about our brand and who might
help us capture and articulate our brand story. In March 2018, the professionals at
Adrenaline (adrenalineagency.com) presented their proposal to guide and assist us.
We engaged them soon after the board approved our strategic plan, then we and
Adrenaline began asking customers, prospects, colleagues and community members
questions:
•
Where do you bank? Local community bank? Statewide bank? National bank?
•
How do you engage with that bank? With Park National Corporation (Park)
division banks?
•
Did you know or care that your division bank is part of Park?
•
How much do you value our (or any bank’s) community service/support?
•
How do you view our operating model with 12 divisions operating under
different names?
•
What would you think if we changed our name?
To ask these questions, we employed surveys and conducted focus groups. We
researched brands, branding and the influence brands carry. We also talked to
industry experts and to other bankers we respect who had completed a brand
journey similar to the one upon which we were embarking.
1
As we entered
2018, we had
already begun
thinking about
our brand and
who might help
us capture and
articulate our
brand story.
Park National Bank: Where you mean more. The entire exercise proved the value of questioning one’s
assumptions…particularly those about which you are most
sure. It has been said, “It isn’t what you don’t know that gets you
into trouble. It’s what you know for sure that just isn’t true.” We were
fairly sure the operating model we’ve employed since Fairfield National
joined us in 1985 ─ local banks operated by local people under a local name ─ was
something customers valued and would not want to change. Well, that assumption ─
while perhaps accurate for a number of years ─ “just wasn’t so” in 2018. The research
revealed the following:
•
89% of prospects want to deal with a statewide or national bank ‒ and
most customers/prospects did not know we have offices in four states and
customers across the country.
•
Customers/prospects were unaware their local division bank was part of the
larger Park organization.
•
Customers did not care about the name of the bank, as long as:
1. They could still deal with their banker.
2. They could keep their checks and account numbers.
3. We continued to support our communities.
Over a period of five months (last May-September), Adrenaline walked us through the
research. Our Leadership Group (all business line leaders and division presidents),
our corporate board and our division advisory boards all weighed in on how we
might respond to the data. The vote was unanimous; we all agreed the evidence
was overwhelming ─ we could serve our customers, prospects, colleagues and
communities more if we unified our brand and united under one name: Park National
Bank.
In December of last year, we began informing customers and community leaders of
our decision. The response has been overwhelmingly positive. The most common
responses were:
•
Can I still deal with my banker? (Yes)
•
Will you still support our local community? (Yes)
•
Makes perfect sense.
•
Thought you would have done it years ago.
•
Didn’t know my bank was part of a larger organization…that’s good news.
By the time you read this, we will be absorbed completely with our next steps:
•
Branch rebrand: updating our branch/bank locations with new interior and
exterior signage.
•
Customer-facing messages and materials: adding our unified brand name,
logo, taglines and other associated marks.
•
Internal systems and operations: system and process changes to support one
unified brand.
89% of
prospects want
to deal with a
statewide or
national bank.
2
Park National Bank: Where you mean more. Our brand unification project is large, pervasive and
complex. But as one of our division presidents said, “(the)
Collaboration to become united under one brand started
a transformation within our company…I personally feel everyone
is working together more for common goals…”
We suggested to our stakeholders when we announced the brand change
that it would Unify, Simplify and Clarify our world and thus enhance our ability to
serve more. The early results are promising and spirits are high. Adrenaline has been
everything we could ask for in a brand journey guide and more. Their people combine
technical brilliance with genuine warmth and empathy.
While we were immersed in our brand unification project, the world continued to spin.
Here are our favorite numbers from the past three years:
Revenues and
expenses were
both affected
by acquisitions
we believe
are excellent
additions to the
Park family.
3
Park National Bank: Where you mean more. To be fair, our year-over-year performance did not decline
as the figures suggest. Revenues and expenses were both
affected by acquisitions we believe are excellent additions to
the Park family. We have plenty of potential to improve these favorite
numbers in 2020 and we intend to.
Player Changes
As we announced last year, Matt Miller became president of Park National Bank (PNB)
and Park May 1, 2019. He joined the boards of Park and PNB as well. David Trautman
retained his CEO role and added chair duties. Dan DeLawder retained his chair of
the executive committee role. These changes continue a long tradition of deliberate,
intentional leadership succession. The common question we get is, “What’s going to
change for you three?” To quote Bill McConnell and Dan, from their 1998 shareholder
letter:
“Leadership transitions are sometimes difficult, often awkward. We are
somewhere in the middle of this business at Park National…The (three) of us are
not quite certain how all of this will play out, but we know we can make it work.
We’ve worked together in harmony for a lot of years and intend to continue.”
Thus far, we have made it work. Matt’s phone rings more because people most
often want to “talk to the president.” Few people call for the chair or the chair of the
executive committee. But Dan has found that as his PNB and Park duties have shifted,
he has had more time for important community leadership. Those of you who know
Dan will rest easier knowing he is leading community members in addressing our
most pressing challenges and capitalizing on our most exciting possibilities.
On July 1, 2019, after 21 years as president of our Fairfield National division,
Steve Wells assumed a new role as division president liaison. His 36 years with Park
give him a unique perspective that will help our division presidents and their teams
maximize their contributions to all our stakeholders. Steve is able to refocus his
talents to help us in this way after working closely to develop his successor,
Laura Tussing. Laura has been a capable and versatile leader, most recently as head
of Fairfield’s highly successful Trust department. Her talents are well known in the
community as well, where she serves on the board of the Lancaster Festival and as
chair of the Fairfield Medical Center. She has been board chair of Big Brothers and Big
Sisters of Fairfield County and is president-elect of the Lancaster Rotary Club and
chair of the Fox Family YMCA. We are excited for both Steve and Laura as they deploy
their talents in new ways to help our colleagues, customers and communities.
In 2019, Mark Miller and Todd Bogdan joined our Leadership Group. This group
serves as our management governing body; they are the people to whom your
authors most often turn for advice and counsel. Mark’s background in Process
Management, Lean Six Sigma and Continuous Improvement prepared him well to
lead our emerging Process Transformation department and increase its contribution
to Park. His charge is to find more ways to save us steps, clicks and calls − i.e., to be
We’ve worked
together in
harmony for
many years
and intend to
continue.
4
Park National Bank: Where you mean more. We legally
and formally
welcomed our
new colleagues
at Carolina
Alliance on
April 1, 2019.
more efficient and effective in everything we do. He has
since added Project and Supply Chain Management to his
responsibilities. He possesses the rare ability to let data inform
his thinking while remembering we work with people, not automatons.
Todd joined NewDominion as Chief Operations Officer in 2016. Todd
is what baseball scouts call a “five-tool player.” He has played nearly every role
in banking, including: credit, operations, branch administration and information
technology. After NewDominion converted to Park’s systems, Todd found himself
with extra capacity. Serendipitously, we were looking to add talent to our technology
leadership team. We ended up splitting the Chief Information Officer’s (CIO) role (held
by Greg Rhoads) into two roles: CIO (more strategic) and Chief Technology Officer
(CTO-more tactical). Greg remains our CIO and can now focus on innovation and
strategy. Todd assumed the CTO role and is responsible for keeping our systems
running smoothly, and finding new ways to improve our service to technology users.
He has a gift for translating complex technical issues into common sense language.
Carolina Alliance Bank (CAB)
We legally and formally welcomed our new CAB colleagues on April 1, 2019. In
October, we successfully converted their systems to ours, including core, phone,
mobile and online banking. Successful conversions don’t just happen. Many people
worked countless hours on the conversion while holding down their day jobs. We can
never forget we are asking our new colleagues to deliver great service to customers,
but in a new language and with new tools. It is as if a native German-speaking surgeon
was dropped into Beijing and asked to perform a successful surgery while her
colleagues were speaking Mandarin and employing acupuncture as the anesthetic.
With our NewDominion division that joined us in 2018, we now have more than
$1 billion in assets in the Carolinas. We have great people there who are equal to
the opportunities available. We look forward to helping them serve customers and
welcome prospects to the Park family.
Indirect Lending Group
Three years ago, we created our indirect lending group. While we have made indirect
loans (mostly auto, boat and RV loans originated at dealers and approved by us) for
decades, we previously employed a distributed system of approvals throughout
our banking divisions. The complexity of managing an increasingly large portfolio
combined with advances in technology convinced us to reconsider our indirect
lending model. Taking the best from our old model while acknowledging where we
could improve led us to develop and staff a stand-alone Indirect Lending department.
Under the leadership of Rob Springer and regional leaders Erica Chance, Matt
Colwell, Eric McKee and Jerry Simon, this group of 18 professionals works with
650 auto, boat and RV dealers to offer indirect loans to customers throughout Ohio,
Indiana and Kentucky.
5
Park National Bank: Where you mean more. Growing balances while reducing delinquencies and
charge-offs, as our indirect lending colleagues have done, is
the Holy Grail of lending.
As a side note, our indirect lending group has had no turnover in the past four years.
This is a tribute to Rob, our regional leaders and our indirect lending team’s deep
engagement with dealers, customers and each other. We believe we can export our
indirect services to communities throughout our footprint in the Carolinas.
Scope Aircraft Finance
In 1994, Scope Aircraft Finance joined the Park family. At the time, they had
$14 million in loans and leases. This year, they topped $300 million for the first time.
Under Bob Kent’s leadership, Bryan Byers, Alaina Joseph, Drew Knoesel, Charlie
Sauter, Mike Smith and their Scope colleagues serve customers and dealers
throughout the United States. Customers tell us they value the Scope team’s
personal approach, experience and passion for aviation. Scope professionals are
regulars at industry conferences and trade shows, sharing their knowledge through
speaking engagements and one-on-one meetings. Last year, the National Business
Aviation Association recognized Mike Smith as one of their “Top 40 Under 40.”
We have many bank customers and prospects who would benefit from Scope’s
expertise and service for their aircraft finance needs. We finance everything from
the smallest Piper Cub to high-performance turbines to light jets. Perhaps you have
thought about the benefits of flying personally and/or privately. Contact our Scope
team (scopeair.com or 800-357-5773) to see if we can help that dream come true.
Trust and Investments Department
A number of people are unaware that we have a Trust and Investments department.
This is a bit surprising, for we have offered trust, estate planning, wealth management
services, and employee benefits plan administration for decades. Perhaps our team’s
relative anonymity is understandable, as our Trust colleagues are inclined to extreme
modesty. They simply don’t talk about their accomplishments. Fortunately, your
authors are not burdened by such humility.
Customers tell
us they value
our personal
approach,
experience,
and passion
for aviation.
6
Park National Bank: Where you mean more. Here’s the team’s record over the past three years
(in billions):
If you need
money, we lend
it. If you have
money, we offer
deposits and
investment
services.
These are excellent results. We want to add trust and investment services in
Louisville, KY; Asheville, NC; and Spartanburg and Greenville in SC as well.
Scott McMahon joined us last year as a trust professional in Charlotte, NC and
he’s off to an excellent start.
If you need money, we lend it. If you have money, we offer deposits and trust and
investment services. Either way, we are here to serve you.
Park People
Our organization is a wonderful blend of promising rookies, top draft picks and
seasoned veterans. Each of us has a different story for why we came here and why we
remain. A couple common threads knit us together: we love to serve and we value an
environment where we can grow personally and professionally. Bound by these ideals,
our colleagues tend to stay around for a long time. Here’s a summary of those who’ve
been here for more than 10 years:
7
Park National Bank: Where you mean more. In one of the videos we published to introduce our unified
brand, Fairfield National colleague Brenda Shamblin talked
about Park people:
“(Customers) choose us because of who we are. They choose us
because of the people (who) are behind the desks, on the teller line, on
the other end of the phone. They choose us because they trust us. They choose
us because they know we care. We’re genuine. We want to take good care of
our customers, of each other, of our shareholders, and you just don’t find that
everywhere.”
Tenured bankers who love to serve…a rare and pleasing combination.
Customer Care Center
What the world describes as a “call center,” we define as our Customer Care Center
(CCC). We established our CCC in January 2017. The idea was to serve customers
when they needed service, regardless of time zones, holidays, weekends or “non-
office hours.” They were particularly helpful during our Carolina Alliance conversion
which occurred over a holiday weekend. John Kimberly, Carolina Alliance president,
said the CCC was a “game changer” for their customers and colleagues. CCC has
been a game changer as well for customers around the world who need to talk to a
Park National banker.
New Board Members
Michael T. Brandy
Carl R. Bartlett
W. Louis Bissette, Jr.
Terrence L. Cash
T. Alexander Evins
Marsha H. Gibbs
George M. Groome
Jason N. Judd
John D. Kimberly
Samuel H. Maw, Jr.
D. Byrd Miller, III
Joseph M. Pazdan, II
John S. Poole
Mark Ramser
William Allen Rogers, II
Cheryl L. Snyder
L. Terrell Sovey
Tim Thompson
Jennifer Walters
Larry A. Webb
W. Lewis White, Sr.
Park National Division, Southwest Ohio & Northern Kentucky
Carolina Alliance Division
Carolina Alliance Division
Carolina Alliance Division
Carolina Alliance Division
Carolina Alliance Division
Carolina Alliance Division
Park National Bank/Park National Corporation
Carolina Alliance Division
Carolina Alliance Division
Carolina Alliance Division
Carolina Alliance Division
Carolina Alliance Division
Park National Corporation
Carolina Alliance Division
Carolina Alliance Division
Carolina Alliance Division
Century National Division
Fairfield National Division
Carolina Alliance Division
Carolina Alliance Division
We are here
to serve you,
24/7/365.
8
Park National Bank: Where you mean more.
Fond Farewells
James R. DeRoberts
Jim notified your board in January 2020 that he would not stand
for re-election. Jim has been a friend and trusted advisor to the
banking community in Ohio for 40+ years. Long before Jim joined your
board, he and his firm helped us prudently navigate complex insurance issues,
coverages and policy analysis. Beyond his technical expertise, Jim has been an
unwavering supporter of Park for decades and we will miss his candor, wisdom and
wit. But he and his wife, Shelly, have kids and grandkids they’d like to see more often
and no two people have earned that joy more. We wish them and their family all the
best.
Jeffry D. Harris
Jeff notified the First-Knox advisory board in December 2019 that he had accepted
a position with a law firm in Columbus and would be resigning as an advisory board
member. Jeff served as the executive director of the Knox Area Development
Foundation for four years. He started the Knox County Land Bank and was
instrumental in attracting new businesses to the community. Jeff will continue his
work in public funding so we expect to run into him in the future. We wish him all the
best in his new position.
Lifelong Learning
These books taught us new things or encouraged us to view the world through a
different lens:
The Second Mountain, The Quest for a Moral Life, by David Brooks
Range, by David Epstein
The Wilder Muir, selected by Bonnie J. Gisel
212° The Extra Degree, by Sam Parker
Excellence Wins: A No-Nonsense Guide to Becoming the Best in a World of
Compromise, by Horst Schulze
The Impossible Climb, by Mark Synnott
The Infinite Game, by Simon Sinek
The Lion Tracker’s Guide to Life, by Boyd Varty
9
Park National Bank: Where you mean more. Final Thoughts
At the headwaters of the Mississippi River, the average flow
rate is 45 gallons per second. By the time the river discharges into
the Gulf of Mexico south of New Orleans, its flow rate has increased to
more than 4.4 million gallons per second. What has happened? Between
the headwaters and the Gulf, hundreds of tributaries joined their flows together to
magnify and amplify the collective flow. We believe our brand unification will operate
similarly. We have 12 tributaries (divisions) that are joining their flows, their talents,
their skills and their local knowledge into one powerful and compelling brand river.
This unified platform is Park National Bank:
Park National bankers live to serve, and we want to serve you (and anyone you send
us) more. Please let us know how and when.
David L. Trautman
Chair and CEO
Matthew R. Miller
President
C. Daniel DeLawder
Chair, Executive Committee
10
Park National Bank: Where you mean more.
Our Locations
11
Park National Bank: Where you mean more. 44Scope has over
$300 million in aircraft
loans to customers in
44 of the 50 states.
12
Park National Bank: Where you mean more. 650dealer relationships
across Indiana,
Ohio and Kentucky.
Strong Relationships,
Reliable Bankers
When a customer receives a vehicle loan from our team of indirect
lenders, it means getting a partner that wants to see them succeed.
Our lenders deliver personalized service that has always made our
organization stand out. We listen closely to our customers’ needs and
offer flexible solutions to help them find the loan that best fits their life.
We’ve established great relationships with 650 dealers across Ohio,
Indiana and Kentucky, building a track record that dealers and customers
rely on. Whether it’s a car or truck, boat, RV or ATV, our team is committed
to meeting our customers’ needs, and that means flexibility to work with
any dealership. A lender is available seven days a week, and extended
hours mean we’re here when you need us. We’ve built strong relationships
through our sponsorship of the annual Ohio RV & Boat Show for the past
10 years, developing a valuable network in those industries. Our reliability
and accessibility have also made us a top choice for vehicle dealerships.
We’ve thrived in delivering a seamless and easy process for customers,
providing digital options that allow them to quickly submit their loan
applications. In turn, that digital process has also made it a faster process
for us to make decisions and get back with customers, which has only
strengthened our relationships with dealerships and individuals.
13
Park National Bank: Where you mean more. 23%
increase in residential
construction loans.
Originated more than
$651 million in
mortgage loans.
14
Park National Bank: Where you mean more. $6.3B
in assets managed
(market value), a
17.6% increase.
Building Relationships,
Serving Generations
Along with a full range of traditional loan and deposit services, we
have helped individuals and families create strategies to achieve their
financial goals and dreams. Our Trust and Investments professionals
offer comprehensive financial and retirement planning, trust and estate
planning for individuals, and retirement planning for businesses.
We’ve worked hard to become a reliable source to our clients and enjoyed
tremendous success in these areas in 2019, both in the total number
of accounts and the total market value of those accounts. With nearly
8,000 accounts and a market value of $6.26 billion in total assets, our
experts have helped clients navigate the intricate issues associated with
investing in today’s economic environment. By making things simple and
convenient for our clients, we’ve helped them feel secure about their
financial future.
From retirement plan services for businesses to personal investing to
trust and estate planning, our team has a multitude of ways to serve
families and businesses. Whether it’s investing for retirement, creating
a trust, or setting up a business retirement plan, we offer personalized
and flexible plans to meet our clients’ unique needs. By operating as a
corporate fiduciary with our trust services, we also have a responsibility
to put the needs of our clients first and always operate in their best
interest.
Taking the time to get to know our clients and their unique financial
situation remains vitally important to what we do and why we’ve become
a popular choice for businesses and individuals. Our commitment to
personal service has helped us build relationships that have lasted
generations and it’s a mindset that will continue to set us apart.
15
Park National Bank: Where you mean more. 674k
calls handled by
our Customer Care
specialists in 2019,
a 12% increase.
16
Park National Bank: Where you mean more. 28%
year-over-year
growth in checks
deposited through
our apps.
Digital Growth,
Increased Convenience
The way we deliver service to our customers must continue to adapt to
keep pace with how they want to interact with us. In this day and age,
that means making technology and digital enhancements, as well as
providing accessibility and flexibility when it comes to how and where our
customers bank.
Our digital channels allow customers to bank from anywhere, any time
and they have utilized those channels. Customers made more than
200,000 mobile deposits in 2019, nearly double from two years ago,
while the total amount deposited has increased from $102 million in 2017
to almost $270 million this past year. That includes remarkable growth
with our business mobile deposits, which increased by 13,000 to nearly
37,000 in 2019. That led to $140 million in business mobile deposits,
more than doubling the amount from 2018. Personal banking app users
also increased from 75,000 in 2017 to over 100,000 in 2019. We continue
to focus on delivering a great digital customer experience. Our digital
interactions included more than 2 million text messages last year, an
increase of nearly 300,000 from 2017.
We invest in technology on two levels: maintenance and strategy.
Maintenance includes updating operating systems, application software,
networks and more to preserve excellent service levels. Our strategic
technology investment includes software and/or network configurations
that offer new features and more convenience. In 2019, the Park board
approved projects totaling more than $40 million to address both
categories. Customers are engaging with us differently than they did just
five years ago, and our technology investments, along with our unified
brand, will help us continue to serve customers when and where they find
it convenient.
17
Park National Bank: Where you mean more. Line of Business Leaders
Todd Bogdan
Chief Technology Officer
Adrienne Brokaw
Corporate Auditor
Tom Button
Chief Credit Officer
Tom Cummiskey
Chief Trust and
Investments Officer
Bob Kent
President
Scope Aircraft Finance
Tim Lehman
Chief Operating Officer
Laura Lewis
Chief Human Resources
and Marketing Officer
Mark Miller
Project Management and
Process Transformation
Greg Rhoads
Chief Information Officer
Cheryl Snyder
Chief Retail Officer
Paul Turner
Chief Treasury Officer
Steve Wells
Division President Liaison
Jeff Wilson
Chief Risk Officer
18
Park National Bank: Where you mean more. Board of Directors
William T. McConnell Emeritus, Director since 1977
Donna M. Alvarado
President
Brady T. Burt
Chief Financial Officer
C. Daniel DeLawder
Chair, Executive Committee
James R. DeRoberts
Partner
F.W. Englefield, IV
President
AGUILA International
Park National Corporation
Park National Corporation
Director since 2013
Director since 1994
Gardiner, Allen, DeRoberts
Insurance
Director since 2015
Englefield, Inc.
Director since 2005
Alicia Sweet Hupp
President and CEO
Jason N. Judd
Senior Vice President
Stephen J. Kambeitz
Private Investor
Timothy S. McLain
Vice President
Sweet Manufacturing Company
Big Lots, Inc.
McLain, Hill, Rugg &
Associates, Inc.
Matthew R. Miller
President
Park National Corporation
Director since 2015
Director since 2019
Director since 2010
Director since 2010
Director since 2019
Robert E. O’Neill
President
Mark R. Ramser
President
Julia A. Sloat
Senior Vice President
David L. Trautman
Chair and CEO
Leon Zazworsky
President
Southgate Corporation
Ohio Cumberland Gas Co.
American Electric Power, Inc.
Park National Corporation
Mid State Systems, Inc
Director since 2013
Director since 2019
Director since 2015
Director since 2005
Director since 2003
Executive Officers
Brady T. Burt
Chief Financial Officer
C. Daniel DeLawder
Chair, Executive Committee
Matthew R. Miller
President
David L. Trautman
Chair and CEO
Note: Mr. Burt is not a member of the board of directors
19
Park National Bank: Where you mean more. Advisory Board Members
Carolina Alliance Division
Carl R. Bartlett
Retired, Former Mayor Town of Black
Mountain, NC
W. Louis Bissette Jr.
Attorney, McGuire, Wood & Bissette Law
Firm
Terrence L. Cash
President, Caman Group
T. Alexander Evins
Attorney/Partner, Parker Poe Adams &
Bernstein, LLP
Marsha H. Gibbs
Director, Gibbs International
George M. Groome
Board Chair, Colton, Groome & Company
John D. Kimberly
President, Carolina Alliance Division
Samuel H. Maw Jr.
Retired
D. Byrd Miller III
CFO & Managing Member, William Barnet
& Son, LLC
Joseph M. Pazdan, II
Managing Principal, McMillan Pazdan Smith
Architecture
John S. Poole
Retired CEO, Carolina Alliance Bank
William Allen Rogers, II
Principal, Ewing Capital Partners, LLC/Allen
C. Ewing & Co.
Cheryl L. Snyder
Chief Retail Officer, Park National Bank
L. Terrell Sovey
President, Management Advisory Services
Larry A. Webb
Principal, KDS Commercial Properties,
Webb Development, LLC
W. Lewis White, Sr.
Owner, W. Lewis White Company
Century National Division
Michael L. Bennett
Second Capital Consulting, LLC
Julie A. Brown
Fink’s Harley-Davidson, Southside
Collision, Fink’s Quality Cars and Fink’s
Custom Vans
Clinton W. Cameron
Cameron Drilling Company
Ward D. Coffman, III
Coffman Law Offices
Scott D. Eickelberger
Kincaid, Taylor and Geyer
Dr. Susan K. Hasseler
Muskingum University
Patrick L. Hennessey
P&D Transportation
Henry C. Littick, II
Southeastern Ohio Broadcasting Systems
Thomas M. Lyall
Chair, Century National Division
Timothy S. McLain, CPA
McLain, Hill, Rugg & Associates
Patrick L. Nash
President, Century National Division
Timothy Thompson
Primary Aim
Fairfield National Division
Charles P. Bird, Ph.D.
Retired, Ohio University
Dean DeRolph
Kumler Collision and Automotive
Jennifer Johns Friel
Midwest Fabricating Company
Leonard F. Gorsuch
Fairfield Homes
James L. McLain, II
J. McLain CPA Group
Jonathan W. Nusbaum, M.D.
Retired Surgeon
S. Alan Risch
Risch Drug Stores
Laura F. Tussing
President, Fairfield National Division
Jennifer Gorsuch Walters
Fairfield Homes
Stephen G. Wells
Park National Bank
First-Knox National Division
Robert E. Boss
President, First-Knox National Division
Timothy R. Cowen
Cowen Truck Line
Jeffry D. Harris
Area Development Foundation
Korey M. Kidwell
Murray, Rauzi, Kidwell & Cunningham, Ltd.
William B. Levering
Levering Management, Inc.
Daniel L. Mathie
Critchfield, Critchfield & Johnston, Ltd.
Matthew D. Miller
Mayor of Ashland
Mark R. Ramser
Ohio Cumberland Gas Company
Sara C. White
CLT Residential
Park National Division
Donna M. Alvarado
AGUILA International
C. Daniel DeLawder
Chair, Executive Committee,
Park National Bank
James R. DeRoberts
Gardiner, Allen, DeRoberts Insurance
F.W. Englefield, IV
Englefield, Inc.
Jason N. Judd
Big Lots
Stephen J. Kambeitz
Private Investor
William T. McConnell
Director Emeritus, Park National Bank
Matthew R. Miller
President, Park National Bank
Robert E. O’Neill
Southgate Corporation
Julia A. Sloat
American Electric Power
David L. Trautman
Chair and CEO, Park National Bank
Leon Zazworsky
Mid State Systems, Inc.
Park Southwest Division
Michael T. Brandy
Brandicorp
Daniel L. Earley
Chairman, Retired President, Park
Southwest Division
Jeanne M. Golliher
Cincinnati Development Fund
David J. Gooch
President, Park Southwest Division
Kim M. Rose
Critchfield, Critchfield & Johnston, Ltd.
Martin J. Grunder, Jr.
Grunder Landscaping Company
Vickie A. Sant
Chair, First-Knox National Division
Richard W. Holmes
Retired, Pricewaterhouse Coopers, LLP
Roger E. Stitzlein
Loudonville Farmers Equity
Chris D. Tuttle
Amish Oak Furniture Company
Gordon E. Yance
Retired, First-Knox National Division
NewDominion Division
Kenneth R. Beuley
The Keith Corporation
Larry H. Maxey
Synchronic Business Solutions
Thomas E. Niehaus
Vorys Advisors LLC
Richland Division
Mark Breitinger
Milark Industries, Inc.
Michael L. Chambers
J&B Acoustical, Inc.
Dr. Jack M. Cathey
University of North Carolina at Charlotte
Elizabeth A. DeLaney
Spherion Mid-Ohio Employment Services
Louis Foreman
Enventys
Charles T. Hodges
New Forum
David L. Hood, Jr.
Hood, Hargett & Associates
J. Blaine Jackson
CEO, NewDominion Division
David Longo
CBI
Dennis W. Moser
The Moser Group
Donald Philip Renaldo, M.D.
Donald Automotive Group
Chris R. Hiner
President, Richland Division
Timothy J. Lehman
Chief Operating Officer, Park National Bank
Jeffrey S. Monica
McDonald’s
Linda H. Smith
Ashwood, LLC
Rick R. Taylor
Jay Industries, Inc.
Second National Division
Steven C. Badgett
Retired, Second National Division
Tyeis Baker-Baumann
Rebsco
Wayne G. Deschambeau
Wayne HealthCare
Travis J. Faber
Faber & Associates
Travis L. Fliehman
Fliehman Law Group
Jeffrey E. Hittle
Hittle Buick GMC
Michael J. Pax
Pax Machine Works
John E. Swallow
President, Second National Division
Security National Division
R. Andrew Bell
Marsh & McLennan Agency
John A. Brown
President, Security National Division
Alicia Sweet Hupp
Sweet Manufacturing Company
Larry E. Kaffenbarger
Kaffenbarger Truck Equipment Company
Thomas P. Loftis
Midland Properties
John McKinnon
Clark Schaffer Hackett & Co.
Scott D. Michael
Michael Farms
Dr. Karen E. Rafinski
The Registry
Chester L. Walthall
Walthall Holding Co. Inc.
Robert A. Warren
Hauck Bros.
United Division
Lois J. Fisher
Lois J. Fisher & Assoc.
Michael L. Kocher
MKB Farms Ltd.
Michele M. McElligott
Certified Public Accountant,
Avita Health System
Douglas M. Schilling
Schilling, Inc.
Donald R. Stone
President, United Division
Douglas E. Wilson Sr.
Realtor, Craig A. Miley Realty & Auction, Ltd.
Unity National Division
Dr. Richard N. Adams
Retired, Representative of Ohio General
Assembly
Tamara L. Baird-Ganley
Baird Funeral Home
Michael C. Bardo
Retired, Hartzell Industries
Rick M. Heinl
Repacorp, Inc.
Dr. Douglas D. Hulme
Retired, Oakview Veterinary Hospital
Timothy Johnston
Retired Consultant
Scott E. Rasor
President, Unity National Division
W. Samuel Robinson
Retired, Murray Wells Wendeln & Robinson,
CPAs
20
Park National Bank: Where you mean more. Park National Bank
Founded in 1908
Senior Leaders
Adrienne Brokaw
Audit
Todd Bogdan
Technology
Tom Button
Commercial Loans
Tim Lehman
Operations
Laura Lewis
HR & Marketing
Mark Miller
Process Transformation
Tom Cummiskey
Trust and Investments
Greg Rhoads
Business Solutions
Bob Kent
Commercial Loans
Cheryl Snyder
Retail Banking
Paul Turner
Treasury
Steve Wells
Division President Liasion
Jeff Wilson
Compliance and
Risk Management
Matt Miller
President
David Trautman
Chair and CEO
Dan DeLawder
Chair, Executive Committee
Brady Burt
Chief Financial Officer
Main Office
50 North Third Street
Newark, OH 43055
740-349-8451
Financial data is for Park National Division.
Serving more in our community
Our associates contribute thousands of hours
annually supporting countless organizations,
along with personal financial commitments.
Park’s financial contributions mirror our
associate involvement, giving to local United
Way organizations, the John and Mary Alford
Center for Science and Technology on the
OSU-Newark and COTC campus, The Works,
Midland Theatre and a long list of other
charitable and social service organizations that
help improve the communities we serve.
21
Park National Bank: Where you mean more. Carolina Alliance Division
Joined Park in 2019
Senior Leaders
Janice Addington
HR & Marketing
David Barnett
Greenville Market President
Tim Camp
Commercial Loans
Jeff Covington
Credit Officer
Coleman Edmunds
Retail Banking
John Kimberly
President
Main Office
200 South Church Street
Spartanburg, SC 29306
864-208-2265
Carolina Alliance merged with Park 4/1/19
Serving more in our community
Our bankers take pride in the personal touch
we provide by partnering with Mobile Meals,
which delivers 1,500 hot meals daily to
homebound seniors in Spartanburg County.
Working with United Way of the Piedmont
in Spartanburg, we have donated Bags of
Love on Valentine’s Day to the Mobile Meals
recipients since 2008 to help brighten their
day. Each bag included items like flashlights,
gloves, devotional books, soap, lotion and, of
course, some sweet Valentine’s Day treats.
22
Park National Bank: Where you mean more. Century National Division
Joined Park in 1990
Senior Leaders
Steve Haren
Retail Banking
Bruce Kolopajlo
Retail Banking
Paula Meadows
Mortgage Loans
Terri Sidwell
Cash Management
Jody Spencer
Trust and Investments
Alton Thompson
Commercial Loans
Pat Nash
President
Main Office
14 South Fifth Street
Zanesville, OH 43701
740-454-2521
Serving more in our community
Volunteering at the Carr Center’s Special
Riders program is a fulfilling way for our team
to serve. This non-profit organization gives
individuals with severe physical disabilities
the chance to ride horses, working with them
to achieve their highest quality of living. We
assist riders with trips around the fairgrounds,
providing assistance to their various programs.
Our bankers also help with facility upgrades,
participate in the annual golf outing and
contribute to their cake auction.
23
Park National Bank: Where you mean more. Fairfield National Division
Joined Park in 1985
Senior Leaders
Jamey Binkley
Retail Banking
Jeff Guminey
Commercial Loans
Brenda Shamblin
Mortgage Loans
Kim Sheldon
Commercial Loans
Luann Snyder
Trust and Investments
Tina Taley
Mortgage Loans
Laura Tussing
President
Main Office
143 West Main Street
Lancaster, OH 43130
740-653-7242
Serving more in our community
For more than 35 years, we’ve been a valuable
partner for the Lancaster Festival, which
draws more than 40,000 people and brings
$3.5 million in community spending each year.
From hosting events in our Main Office lobby
to advertising on the program to volunteering
in various roles throughout the festival, we
have annually provided our time and financial
resources as a major supporter. Our bankers
have also served on the Lancaster Festival
board of directors and fundraising committee.
24
Park National Bank: Where you mean more. First-Knox National Division
Joined Park in 1997
Senior Leaders
Cheri Butcher
Trust and Investments
Cindy Higgs
Mortgage Loans
James Hobson
Commercial Loans
Julie Leonard
Operations
Bob Boss
President
Main Office
1 South Main Street
Mount Vernon, OH 43701
740-399-5500
Serving more in our community
Each month during the school year, we’ve
visited at-risk third, fourth and fifth graders
at Dan Emmett Elementary School in Mount
Vernon as part of their Tiger Club afterschool
program. Our bankers organize and lead a fun
activity with the students, and then teach them
about the bank or a particular line of business.
We’ve been fortunate enough to meet with
nearly 50 kids for the past two years, providing
an enjoyable learning opportunity in the
process.
25
Park National Bank: Where you mean more. NewDominion Division
Joined Park in 2018
Senior Leaders
Greg Burke
Chief Credit Officer
Tim Ignasher
President
Kelly King
Commercial Credit
Blaine Jackson
CEO
Main Office
1111 Metropolitan Avenue
5TH Floor
Charlotte, NC 43701
704-943-5700
NewDominion merged with Park 7/1/18
Serving more in our community
Basketball is a way to bring people together,
and we’ve deepened our local commitment
through a partnership with the NBA’s Charlotte
Hornets. As the preferred community bank
of the Hornets for the third season, our Bank
Shots Program provides a $25 donation
to local non-profit organizations for every
bank shot made by the team. At the end of
the 2020 season, we’ll give $8,500 apiece to
Philips Academy, Classroom Central and the
Dilworth Center for Chemical Dependency.
26
Park National Bank: Where you mean more. Park National Division
Southwest Ohio &
Northern Kentucky
Joined Park in 2005
Senior Leaders
Jana Beal
Retail Banking
William Schumacker
Trust and Investments
Adam Stypula
Commercial Loans
Dave Gooch
President
Main Office
4550 Eastgate Boulevard
Cincinnati, OH 45245
513-753-0900
Serving more in our community
Partnering with St. Vincent de Paul, Morris
Home Furniture and the MLB’s Cincinnati
Reds, we provided beds for 50 children in the
community through the Day to Dream initiative.
These children were previously sleeping on
makeshift beds on the floor or on a sofa.
Our bankers helped unload the trucks and
assemble the beds, which were delivered to
the family’s homes. We got to see their
joy when the beds, complete with sheets,
comforters and pillows, were revealed.
27
Park National Bank: Where you mean more. Richland Division
Joined Park in 1987
Senior Leaders
John Cleland
Operations
Don Harris, Jr.
Commercial Loans
Charla Irvin
Trust and Investments
Jeff Parton
Retail Banking
Ryan Smith
Mortgage Loans
Frank Wagner
Executive Vice President
Chris Hiner
President
Main Office
3 North Main Street
Mansfield, OH 44901
419-525-8700
Serving more in our community
Our goal was to serve our local educators more
this past year. We did that by providing lunch
with an onsite cookout during teacher work
days, and educator socials in our Main Office
for school districts across Richland County.
Our bankers also volunteered their time in the
classroom by offering financial literacy, and
working in concession stands during various
sporting events. Lastly, we contributed grants
to schools, allowing teachers to add an extra
special touch to their classrooms.
28
Park National Bank: Where you mean more. Second National Division
Joined Park in 2000
Senior Leaders
Russ Badgett
Commercial Loans
Todd Durham
Trust and Investments
Joy Greer
Retail Banking
Dan Schmitz
Commercial Loans
Brian Wagner
Mortgage Loans
John Swallow
President
Main Office
499 South Broadway
Greenville, OH 45331
937-548-2122
Serving more in our community
Interacting with more than 1,000 high school
seniors at Edison State Community College’s
annual “Inspire Career Concert,” our bankers
provided students feedback as they planned
for their futures. We answered questions and
talked about career opportunities in banking,
and we were excited to make an impact on
them. A group of students from Sidney High
School told the Daily Advocate newspaper our
booth offered the best advice of anyone at the
event.
29
Park National Bank: Where you mean more. Security National Division
Joined Park in 2001
Senior Leaders
Connie Craig
Retail Banking
Jeff Darding
Executive Vice President
Peg Foley
Trust and Investments
Thom Goodfellow
Commercial Loans
Andy Irick
Retail Banking
John Brown
President
Main Office
40 South Limestone Street
Springfield, OH 45502
937-324-6800
Serving more in our community
As part of United Way’s County Service Days,
we assisted our community in many ways. In
Champaign County, associates cleaned up
historic Oak Dale Cemetery. We served at four
different locations in Clark County, sprucing up
the Community Gardens Home Development
and cleaning the Crabill Homestead. Our
bankers completed a painting project for
Encompass Connection Center to help
improve family relationships, and aided in the
clean-up of downtown Springfield.
30
Park National Bank: Where you mean more. United Division
Joined Park in 2000
Senior Leaders
Scott Bennett
Commercial Loans
John Herring
Commercial Loans
Jennifer Kuns
Mortgage Loans
Don Stone
President
Main Office
401 South Sandusky Avenue
Bucyrus, OH 44820
419-562-3040
Serving more in our community
Working with Crawford County 4-H has always
been an important part of our outreach, and our
support has taken many forms over the years.
From sponsoring the Cattle Car-lot Program,
volunteering at various sales, donating to the
organization and serving as club advisors,
our bankers have been dedicated to helping
as many exhibitors as possible. In 2019, we
had the honor of earning their “Friend of 4-H”
award, given annually to those who have had a
noteworthy impact on 4-H.
31
Park National Bank: Where you mean more. Unity National Division
Joined Park in 2001
Senior Leaders
Dwayne Cooper
Retail Banking
Kyle Cooper
Mortgage Lending
Bryant Fox
Commercial Loans
Ken Magoteaux
Trust & Investments
Lisa McGraw
Cash Management
Scott Rasor
President
Main Office
215 North Wayne Street
Piqua, OH 45356
937-615-1042
Serving more in our community
Our partnership with Pink Ribbon Girls,
an organization founded by breast cancer
survivors to support and empower those with
breast and gynecological cancers, grew on a
number of levels. Along with helping with their
banking needs, we volunteered at their annual
fundraiser in Tipp City, assisting with set-up
and making goodie bags for the event. Our
bankers also contributed funds, helping them
reach their goal of nearly $1 million to provide
services for cancer patients.
32
Park National Bank: Where you mean more. Shareholder Information
Stock Listing
NYSE AMERICAN Symbol – PRK
CUSIP #700658107
General Shareholder Inquiries
Park National Corporation
Brady Burt, Chief Financial Officer
50 North Third Street
Post Office Box 3500
Newark, Ohio 43058-9983
740-322-6844
bburt@parknationalbank.com
Dividend Reinvestment Plan
The Corporation offers a plan whereby participating shareholders can purchase additional Park National Corporation
common shares through automatic reinvestment of their regular quarterly cash dividends. All commissions and fees
connected with the purchase and safekeeping of the common shares are paid by the Corporation. Details of the
plan and an enrollment card can be obtained by contacting the Corporation’s Stock Transfer Agent and Registrar as
indicated below.
Direct Deposit of Dividends
The Corporation’s shareholders may have their dividend payments directly deposited into their checking, savings or
money market account. This direct deposit of dividends is free for all shareholders. If you have any questions or need
an enrollment form, please contact the Corporation’s Stock Transfer Agent and Registrar as indicated below.
Stock Transfer Agent and Registrar
The Park National Bank Shareholder Services
Post Office Box 1270
1 South Main Street
Mount Vernon, Ohio 43050-1270
740-399-5208 or 800-837-5266 ext. 5208
shareholderservices@firstknox.com
Form 10-K
All forms filed by the Corporation with the SEC (including our Form 10-K for 2019) are available on our website by
clicking on the “SEC Filing” section and then the “Documents/SEC Filings” section of the “Investor Relations” page.
These forms may also be obtained, without charge, by contacting the Secretary as indicated above.
Website
parknationalcorp.com
parknationalcorp.com
50 North Third Street, Newark, OH 43055