A N N U A L R E P O R T
2023
Park National Corporation Annual Report ▶ 1
Table of Contents
L E T T E R TO S HA RE HOLDE RS
At a Glance
2 02 3 HIGH LIG HT S
Associate Engagement
Technical Capabilities
Financial Strength
CO MM UN IT Y IM PACT
BANK LE ADE RSH IP & LOCATIONS
3
5
8
8
11
12
14
18
L E T T E R T O S H A R E H O L D E R S
Fellow shareholders,
Your authors wrestled with at least 20 eye-catching, click-inducing draft openings to this letter. Some of
the discarded candidates include:
Last year found the world torn by war, political division, economic uncertainty and a liquidity stampede
that led to at least three bank failures…
Over 115 years, we have seen a lot…
Five score and 15 years ago, your bank began in a small office on the square…
Yikes. So much for an arresting open. Here are our favorite numbers:
Return on Average Equity
(ROAE)
Return on Average Assets
(ROAA)
Net Interest Margin
(NIM)
Earnings Per Share
(EPS) - Diluted
Efficiency Ratio1
2023
2022
2021
2020
2019
11.55%
13.78%
14.45%
12.68%
11.14%
1.27%
1.48%
1.56%
1.38%
1.21%
4.11%
3.80%
3.69%
3.93%
3.89%
$7.80
$9.06
$9.37
$7.80
$6.29
65.87%
61.24%
61.27%
62.83%
66.35%
We normally review our performance over the last three years. Last year, we added a fourth year to give
readers an “apples to apples” comparison (2022 v. 2019), as we considered the Covid years (2020 and
2021) anomalies, with distortions like PPP income. Comparing 2023, 2022 and 2019 seems logical to
us. As you remember, we want the first four categories to increase, the last one to decrease. Comparing
2023 to 2022, NIM increased, but ROAE, ROAA and EPS all declined, and the efficiency ratio increased.
Comparing 2023 to 2019, we fared better, with all five categories improving. You will find more details on
our financial performance in our Form 10-K.
In October, we held SPARK2023, an in-person event designed to create an environment in which 400+ Park
bankers could learn, connect, celebrate and laugh. Thanks to our creative, hardworking planning team and
the complete engagement of all who attended, the event exceeded our highest hopes.
1 Efficiency ratio is calculated by dividing total other expense by the sum of fully taxable equivalent net interest income and other income. Fully taxable equivalent net interest
income includes the effects of taxable equivalent adjustments using a 21% federal corporate income tax rate. The taxable equivalent adjustments were $3.7 million, $3.5 million,
$2.9 million, $2.9 million, and $3.0 million for the years ended December 31, 2023, 2022, 2021, 2020 and 2019 respectively.
Park National Corporation Annual Report ▶ 3
One of the highlights was a real-time poll, in which
attendees answered this question:
Think back on a moment that
mattered to you… A moment that
paved the way, sparked your passion
and fueled your fire or gave you a
sense of belonging and made you
feel like you mattered at Park.
How to grow loans
People have long thought of us as “conservative”
lenders. That is, we are told that we ask for more
information, more collateral, more guarantors, etc.
than other lenders. These sentiments usually grow
in proportion to the availability of credit. However,
when the economy slows or is in a funk, we rarely
hear a peep about our conservative nature. Rather,
customers and prospects tell us they value our
P R E D I C TA B I L I T Y, C O N S I S T E N C Y A N D
AVA I L A B I L I T Y (we answer our phones in good
times and bad).
In a matter of minutes, 100+ responses popped up on
the screens at the front of the room and on everyone’s
In the second half of 2023, our loans grew at an
annualized rate of 7.4 percent. Many of these loans
event app. We won’t repeat all the responses, but here
were made to prospects on whom we’d been calling
are a few to give you a sense of how our bankers feel
for some time. For months — or years — they told us
about Park:
•
"The first two weeks I was here (about two years
ago), I realized I made the right choice in Park
when I felt so welcomed by everyone in the bank,
and that feeling has not wavered one bit."
•
"My department showing up when my mom
passed away."
•
"Park has been with me through all sorts of
adult life milestones. Marriage, children, college
graduation, etc. I’ve always felt supported to
grow, make mistakes and learn."
•
"Every time I see Park associates rally around a
team member, customer or community member
in a time of need or difficult situation."
•
"I think of the many moments (that) mentors,
current and past, believed in me. Many saw
things in me I didn’t see in myself. Their
encouragement still drives me to this day."
Reading all these comments several months after
the fact, we are again touched by the depth of feeling
behind each one. What makes Park special? Park
bankers, who live and love to serve; who see beyond
themselves to help others navigate life; who care
deeply about colleagues, customers and communities.
It is an honor to work alongside these caring
professionals.
4 ◀ Park National Corporation Annual Report
our proposals were “not competitive.” This shifted
when the prospects’ then-current bank decided to
reduce its exposure to their industry or exit it entirely.
Voila! We became “competitive.” We have seen this
phenomenon before, when economic clouds form and
bankers tend to hunker down. We don’t “hunker down,”
because it is precisely when customers feel pressure
that they need us to be there for them — with capital,
with advice, with an empathetic ear.
The evolution of
our branch network
We regularly review how customers engage with
us to consider how, when and where to modify our
B R A N C H N E T W O R K . Our Data Science team
further informs our thinking with in-depth analyses of
demographic trends in our markets. Last year, the data
and anecdotal evidence were clear. The great majority
of our customers engage with us through some
digital channel and this trend has been accelerating
across the industry. Thus, in October 2023, we
announced branch closures. We are not alone in this
exercise. However, our approach to this project has
been different, if not unique. In addition to required
communications, we contacted every customer we
could and talked through how their branch closure
might affect them and what options were available
We felt it when we acquired our first bank in 1985. We
to keep their Park relationship. Unsurprisingly, we
have felt it with every expansion and with every new
found people appreciated the extra effort and valued
plateau attained. But why haven’t we lost our soul…and
the additional options supplied by their Park banker.
why do we believe we won’t?
Because our colleagues have built strong relationships
over many years, a number of customers were more
concerned about their Park banker than with any
inconvenience to themselves. We assured them that
we are sensitive to each banker's situation and would
treat each with empathy. And we have.
Who we are and
will we change
as we grow?
As organizations grow, some fear they will lose their
soul. That is, whatever animates the place will fade with
more employees, more customers, more assets, more
deposits, etc. We understand this possibility and the
fear it may generate. We felt it when we opened our
first office outside Licking County, Ohio in 1979.
Our soul is our embedded in our “Why.”
We exist to help everyone with whom
we come in contact flourish.
A simple statement, but one that has unified and
energized our organization, regardless of size. We
believe it will hold true in the future as well. Customer
preferences may change, the tools we use to meet
their needs may change, but our desire to help people
flourish will not fade.
At a Glance
Park National Corporation is a family of community banking teams that deliver an exceptional
breadth and depth of resources to individuals and businesses. Our culture is deeply rooted in
the values of service and philanthropy, and we believe strong communities are built with local
volunteers, donations and leadership.
We believe the way we treat our customers, associates and communities is what sets us
apart from the competition and sustains our success.
95OFFICES
115
ATMS
1,799
AS SO C IAT ES
4STAT ES
Park National Corporation Annual Report ▶ 5
Where are we going?
For the last several years, we have hovered around
$ 1 0 B I L L I O N I N A S S E T S . If you’re familiar with
the great migration across the Serengeti to Masai
Mara, you know that the wildebeest, zebra and gazelle
herds must cross the Mara River. Tens of thousands of
animals get to the river and stop. They know the river
holds risks — deep waters, fast currents and predators
(in the water and on the other side) who have waited
an entire year for this migration. Eventually, driven by
instinct and hunger, one animal jumps in, and is quickly
joined by the entire herd.
This is how we feel…holding at the precipice of
$10 billion, but our instinct to grow and hunger
to serve more has always been strong. We know
that crossing $10 billion holds risks — increased
regulatory scrutiny, financial impacts and more.
But we’ve carefully planned our crossing, we’ve
learned from others who’ve traveled this route and
we’ve anticipated blind spots. We know the value of
collectives like herds, packs and tribes and we will lean
on each other. We have many people — colleagues,
shareholders, community friends, regulators,
attorneys, accountants, advisors — who want the best
for us…and we for them.
We intend to grow and will. We have stated before,
and still believe, that growing earnings is best and we
believe there are five ways for us to do this:
1. O R G A N I C G R O W T H
Increase loans, deposits and assets under
management
2 . P R U D E N T E X P E N S E C O N T R O L
Contain non-interest expenses as we grow
revenues
3 . D E N O V O E X PA N S I O N
Open offices in promising locations
4 . O T H E R I N C O M E S T R E A M S
Acquire or enter “boutique” businesses (like our
Scope Aircraft and Specialty Finance groups)
Before we know it, the $10 billion plateau on which
we’ve been perched will be in the rearview mirror.
Investment bankers tell us that on average, once an
organization crosses $10 billion, it takes 3.5 years to
reach $20 billion. We may or may not find this true for
us. It has taken us 115 years to reach $10 billion. It will
not take us 115 years to reach $20 billion.
A national
community bank
Park has 402,623 customers across all 50 states in the
U.S. including The Virgin Islands. Our C U S T O M E R
B A S E extends across the Armed Forces Pacific
and Armed Forces Europe also. Here’s where our
customers are in the continental U.S.:
1-200 customers
201-500 customers
501-1,000 customers
1,000+ customers
Not bad for a community bank. Everett D. Reese, our
president from 1927 to 1956, taught us that the world
is conveniently divided into two categories: Customers
and prospects. As the U.S. population today is roughly
336 million, our current market share is, well, not
much. We have a great desire to invite more people to
consider Park as their bank. We have the digital tools
to make geographic proximity moot and there are
approximately 336 million prospects in the U.S. alone.
If we ratchet our market share up by .1%, we will nearly
double our customer base. So many prospects, so
5 . M E R G E R S & A C Q U I S I T I O N S
little time.
Identify partners who think beyond themselves in
service to colleagues, customers and communities
6 ◀ Park National Corporation Annual Report
Community support
We used to highlight our community support in
this letter. It is great fun to help our neighbors and
communities prosper; we’ve done this for decades
and will continue for as long as we’re around. But
the B R E A D T H A N D D E P T H of our support has
exceeded what makes sense to summarize in this
The Park chord has three interwoven strands:
1. See others as fellow humans
2. Help them flourish as much as our talent and
energy allow
3. Repeat
Fred Rogers had another way of describing a three-
strand chord (this quote resides on our conference
letter. In addition to the community support summary
table):
on pages 14-17, we invite you to take a look at our
2023 Community Impact Report found online at
parknationalcorp.com.1
The daily labyrinth
and final thoughts
Greek mythology tells us how Theseus successfully
navigated Daedalus’ labyrinth with the help of
Ariadne’s chord. Although some would say we live in
mythical times, today we face no actual labyrinths.
True, sometimes it feels like we are in a maze of
There are three ways to
ultimate success:
The first way is to be kind.
The second way is to be kind.
The third way is to be kind.
- F R E D R O G E R S , TV host and author
We have great, kind people. We have solid, sustained
earnings. We have strong and growing capital. We
have an unwavering desire to serve and look forward
to serving more.
Thank you for your support and call/write/text if we can
labyrinthian proportions — polarized political parties,
help in any way.
decibels replacing logic and reason, arbitrary rule-
making, global conflicts that destroy/displace…there
is much to absorb. How do we navigate all of this and
still serve and grow? What is our “Ariadne’s chord?”
1The 2023 Community Impact Report and information within it is separate from and not incorporated by reference into this Annual Report.
A few of our favorite moments from SPARK2023
Park National Corporation Annual Report ▶ 7
Associate
Engagement
AS SOC IAT E A PPR ECIATION E V E N T S
To celebrate associates’ dedication and accomplishments, we hosted a variety of appreciation events this summer.
It presented a great opportunity for colleagues to reconnect, relax and have fun outside of work. Our leaders got
creative and invited teams and families to COSI, baseball games, a picnic, Top Golf, wineries and more.
L AUNC H PAD COMP E TIT ION
The Innovation Team invited associates to take part in an internal contest to share innovative ideas on how we can
better serve our stakeholders. More than 300 ideas were submitted by 171 associates representing 87 percent of our
Driven by purpose
departments. The top five finalists have developed pilot plans to test their ideas and pitch them to leaders.
Growing together
Driven by purpose
I N T E G R I T Y | S E R V I C E | C O M PA S S I O N
I N T E G R I T Y | S E R V I C E | C O M PA S S I O N
P R O F E S S I O N A L D E V E LO P M E N T | C A R E E R PAT H WAY S | M E N T O R S H I P
P R O F E S S I O N A L D E V E LO P M E N T | C A R E E R PAT H W AY S | M E N T O R S H I P
E MPLOYE E VALUE PROPOSITI ON
Helping people is what we’re all about. We call it Serving More, and it’s what drives
us. We genuinely care about helping our customers and communities, and we do
the right thing, whether that means taking time to listen, seeing the world through
someone else’s eyes or doing what’s best for them, not us. It all adds up to work
that’s deeply meaningful and so much more than just a job.
“At Park, banking is about more than money, and your job is more than the work you do. Experience a career that
ignites your passion to serve, unlocks your potential to grow and fuels the life you want to build for yourself and those
you love.” An employee value proposition (EVP) represents the value an organization has to offer associates and
Imagine all the right ingredients coming together to help you grow and thrive – a
culture that puts compassion before competition, a safe space to share your
ideas, freedom to own your journey and genuine support from leaders who want
to see you succeed. How far will your talent, ambition and passion take you?
Helping people is what we’re all about. We call it Serving More, and it’s what drives
us. We genuinely care about helping our customers and communities, and we do
the right thing, whether that means taking time to listen, seeing the world through
someone else’s eyes or doing what’s best for them, not us. It all adds up to work
that’s deeply meaningful and so much more than just a job.
is often used with recruiting, retention and associate engagement. The EVP and supporting key themes are being
woven into recruiting efforts by our HR team.
Driven by purpose
Rewards for life
Driven
by purpose
Driven by purpose
Growing
together
Growing together
Making
an impact
Making an impact
Rewards
for life
Rewards for life
Growing together
I N T E G R I T Y | S E R V I C E | C O M PA S S I O N
P E N S I O N | H E A LT H & W E L L B E I N G | E M P LOY E R M AT C H | PA I D T I M E O F F
I N T E G R I T Y | S E R V I C E | C O M PA S S I O N
P R O F E S S I O N A L D E V E LO P M E N T | C A R E E R PAT H WAY S | M E N T O R S H I P
V O L U N T E E R I S M | P H I L A N T H R O P Y | L E A D E R S H I P
P E N S I O N | H E A LT H & W E L L B E I N G | E M P LOY E R M AT C H | PA I D T I M E O F F
P R O F E S S I O N A L D E V E LO P M E N T | C A R E E R PAT H WAY S | M E N T O R S H I P
Helping people is what we’re all about. We call it Serving More, and it’s what drives
us. We genuinely care about helping our customers and communities, and we do
the right thing, whether that means taking time to listen, seeing the world through
someone else’s eyes or doing what’s best for them, not us. It all adds up to work
that’s deeply meaningful and so much more than just a job.
There’s more to life than work, and finding the right balance can mean everything.
Get flexibility because family comes first, peace of mind that your future is secure,
and time off to focus on what matters most… all without sacrificing your big dreams
and goals. Investing in you is just one way to show our gratitude.
Helping people is what we’re all about. We call it Serving More, and it’s what drives
us. We genuinely care about helping our customers and communities, and we do
the right thing, whether that means taking time to listen, seeing the world through
someone else’s eyes or doing what’s best for them, not us. It all adds up to work
that’s deeply meaningful and so much more than just a job.
When you bring together amazing people, they do amazing things. Serving on a
Imagine all the right ingredients coming together to help you grow and thrive – a
non-profit board or digging in to a hands-on volunteer project, we invite you to
culture that puts compassion before competition, a safe space to share your
roll up your sleeves, pitch in and give back in a way that fits you, because our
ideas, freedom to own your journey and genuine support from leaders who want
commitment to our community is more than words.
to see you succeed. How far will your talent, ambition and passion take you?
There’s more to life than work, and finding the right balance can mean everything.
Imagine all the right ingredients coming together to help you grow and thrive – a
Get flexibility because family comes first, peace of mind that your future is secure,
culture that puts compassion before competition, a safe space to share your
and time off to focus on what matters most… all without sacrificing your big dreams
ideas, freedom to own your journey and genuine support from leaders who want
and goals. Investing in you is just one way to show our gratitude.
to see you succeed. How far will your talent, ambition and passion take you?
8 ◀ Park National Corporation Annual Report
Rewards for life
Rewards for life
Making an impact
Making an impact
P E N S I O N | H E A LT H & W E L L B E I N G | E M P L OY E R M AT C H | PA I D T I M E O F F
V O L U N T E E R I S M | P H I L A N T H R O P Y | L E A D E R S H I P
P E N S I O N | H E A LT H & W E L L B E I N G | E M P L OY E R M AT C H | PA I D T I M E O F F
There’s more to life than work, and finding the right balance can mean everything.
V O L U N T E E R I S M | P H I L A N T H R O P Y | L E A D E R S H I P
When you bring together amazing people, they do amazing things. Serving on a
There’s more to life than work, and finding the right balance can mean everything.
Get flexibility because family comes first, peace of mind that your future is secure,
When you bring together amazing people, they do amazing things. Serving on a
non-profit board or digging in to a hands-on volunteer project, we invite you to
Get flexibility because family comes first, peace of mind that your future is secure,
and time off to focus on what matters most… all without sacrificing your big dreams
non-profit board or digging in to a hands-on volunteer project, we invite you to
roll up your sleeves, pitch in and give back in a way that fits you, because our
and time off to focus on what matters most… all without sacrificing your big dreams
and goals. Investing in you is just one way to show our gratitude.
roll up your sleeves, pitch in and give back in a way that fits you, because our
commitment to our community is more than words.
and goals. Investing in you is just one way to show our gratitude.
commitment to our community is more than words.
Growing together
Imagine all the right ingredients coming together to help you grow and thrive – a
culture that puts compassion before competition, a safe space to share your
ideas, freedom to own your journey and genuine support from leaders who want
to see you succeed. How far will your talent, ambition and passion take you?
Making an impact
V O L U N T E E R I S M | P H I L A N T H R O P Y | L E A D E R S H I P
When you bring together amazing people, they do amazing things. Serving on a
non-profit board or digging in to a hands-on volunteer project, we invite you to
roll up your sleeves, pitch in and give back in a way that fits you, because our
commitment to our community is more than words.
Park National Corporation Annual Report ▶ 9
“The process of migrating
our core banking systems
brought out the best in Park
associates. Collaborating
with many colleagues and
areas across the bank
was an incredibly positive
experience. It felt good
knowing the complex
behind-the-scenes work
we did created little to no
interruption for customers.”
Barry Winters, Business Systems
10 ◀ Park National Corporation Annual Report
Technical
Capabilities
CORE MIGR AT ION
Park took an important step toward becoming a more flexible, nimble and scalable organization – all key components
of our long-range business strategy. The bank's key core processing services are now hosted in a secure, remote
network instead of housed in our own data center. This migration allows us to reduce risk, right-size our costs and
eliminate investing in equipment that will need upgraded or may not be needed long-term as our business evolves.
PARKDIRECT
ParkDirect continues to surprise and delight customers. The service offers a direct digital connection to a dedicated
personal banker. Bankers build relationships through the convenience of chat, and customers value the platform's
blend of convenience and connection.
“I really appreciate all you guys do, and this app is wonderful for me. I’m not always close to a Park National branch
and this makes my life so much easier.”
“I’m glad I’m able to message you guys instead of call. It’s such a neat feature your bank has.”
“This app is the best thing any bank has ever done. You all are so helpful.”
DEC ISIONLE ND E R IM PLE M E N TAT ION
The Indirect and Consumer Operations teams launched a new loan operating system called DecisionLender.
The enhancements accommodate our dealer partners’ desire to be paperless and pave the wave for online loan
applications. The system fuels efficiency through automation and enhanced customizations and improves loan
decisioning and funding for associates, customers and dealers. This system also enables us to offer our indirect
lending solutions to customers and dealers in the Carolinas.
Park National Corporation Annual Report ▶ 11
Financial
Strength
LOAN GROW TH
Park’s total loans increased 4.7 percent during 2023. Leaders attribute the solid loan growth to our bankers’
unwavering commitment to providing financial solutions in all market conditions. The personal relationships our
bankers build with customers and a substantial core deposit base are pivotal factors impacting our stable net interest
margin. After another strong year, Park’s consumer loan portfolio is poised to cross $2 billion in 2024. Home lending
portfolio loans grew 12.1 percent in a challenging market.
STRE AMLINE D OV E RD R A F T P ROGR AM
In light of a rapidly evolving landscape from competitive and regulatory perspectives, Park standardized and refined
its overdraft program to better align with customer expectations. The enhancements provide an improved banking
experience, mitigate regulatory risk as overdraft scrutiny evolves and reduce the fee burden for customers.
NE W OFFICES E XPAN D RE ACH
Park expanded its presence in Columbus (OH) by opening the Linden Home Lending Center inside St. Stephen’s
Community House. With the new office comes new opportunities to meet customers, provide financial education and
help people on their journey to home ownership. The Greenville (SC) Office moved to a new location within an office
park, providing greater accessibility, reserved parking, a full-service banking center, drive-thru banking services and a
drive-up ATM for added convenience. The team welcomed customers to the new location at a holiday open house.
CONT INUOU S IM PROV E ME NT
Mortgage lending underwent a process redesign resulting in fewer bottlenecks and reduced burden on associates.
Lender time spent per loan application reduced from 300 minutes to 150 minutes, while time to process a loan
reduced from 775 minutes to 695 minutes. These changes in end-to-end mortgage processing are expected to yield
a savings of $1.5 million annually.
12 ◀ Park National Corporation Annual Report
“It was a whole new learning curve when it
came to stepping into the ownership role. It's
been really great to have a partner that's been
there to make sure we have all the right pieces
in place, and help educate us and bring us
along as first-time business owners.”
Lauren Parker, Slide Nine Agency
Park National Corporation Annual Report ▶ 13
Community
Impact
PROUD TO SE RVE YOU
We believe the only way for a bank to truly give its customers the service they deserve is to be a part of their
community. And when you belong to something as special as that, investing time and money in places just a few
sidewalks away becomes second nature.
From big cities to small towns, we are proud to serve our communities. Last year we volunteered more than 18,000
hours and donated nearly $5 million dollars to local charities and community organizations. Lending a hand to a
neighbor and investing in the people and places around us is the right thing to do, and we do it gladly.
YOU BE LONG HE RE
Park's commitment to fostering a sense of belonging among its associates is integral to cultivating a workplace
environment that promotes diversity, equity and inclusion.
By actively prioritizing inclusivity through training like the bank’s Outward Mindset and Outward Inclusion
programs, Park creates an environment where individuals from all backgrounds feel seen, accepted and valued.
This sense of belonging goes beyond mere representation and is rooted in the company's dedication to
understanding and embracing the unique perspectives, experiences and contributions of each associate.
14 ◀ Park National Corporation Annual Report
Promoting learning
at home and abroad
Around the world, one of the biggest disadvantages underserved
children face is the lack of technological access. We partnered with
two organizations to get our old computers to those who need them.
First, we worked with Greater Well-Being to send 86 computers to
three high schools, a YMCA, a YWCA and some learning centers in
Jamaica that needed the units for their students. Then we donated
301 outdated desktop computers to PCs for People, a national
nonprofit social enterprise that works to get low-cost quality
computers and internet access into the homes of individuals and
families with low income. Its goal is to make technology available at
affordable prices and advance digital inclusion.
We've volunteered with and supported Make-A-Day Foundation since
2021. Every six weeks, the nonprofit organization hosts block party-styled
events for the local homeless population. They provide guests with warm
meals, medical services, haircuts, shaves, personal care items, limited legal
resources and much more.
Park National Corporation Annual Report ▶ 15
$4,985,412
COMM U N IT Y DONAT IO NS
18,037
VOLUNTEER HOURS
1,340
ORGANIZ ATIONS
16 ◀ Park National Corporation Annual Report
FIRST-TIME HOMEB U YERS
WASEK A & ANNA K .
HOME LOAN G R ANT
In 2023, we introduced our new home loan grant program as a way to encourage homeownership in all communities.
This specialized loan program opens financial possibilities and helps bridge the minority homeownership gap in
Columbus (OH). The program helps borrowers that are buying or improving a home in historically underserved
neighborhoods. It includes a grant of up to $15,000 that can be used for a variety of expenses that may arise
during the homebuying process. We look forward to offering similar grant programs to other communities in our
footprint in 2024.
HOME B UYE R E D UCATION
In 2023, Park’s homebuyer education programs taught attendees how they can become homeowners themselves.
Park community home lenders presented information about prequalification, how to manage, build and improve your
credit, 100% financing options, the homebuying process and our $15,000 home loan grant program. Guests were
invited to stay afterwards to talk with a lender or homebuying counselor.
Hundreds of prospective homebuyers attended the events across the communities we serve. We were grateful to
partner with numerous organizations to present valuable information to attendees.
PROMOT ING HOME OWNE RSH IP
We're advancing homeownership through key partnerships in the communities we serve. Park has focused on
developing and deepening partnerships with many organizations that focus on advocacy, credit counseling, financial
education, housing affordability, homeownership and foreclosure prevention. It all adds up to more hope and positive
experiences for more of our neighbors.
Park National Corporation Annual Report ▶ 17
Bank Leadership
Todd Bogdan
Chief Operations Officer
Adrienne Brokaw
Chief Auditor
Brady Burt
Chief Financial Officer
Bryan Campolo
Chief Credit Officer
Tom Cummiskey
Chief Trust and
Investment Officer
Malory Dcosta
Chief Information Officer
Mark Miller
Corporate Services Director
Matt Miller
President
Cheryl Snyder
Chief Retail Lending Officer
David Trautman
Chair and CEO
Laura Tussing
Chief Banking Officer
Jeff Wilson
Chief Risk Officer
18 ◀ Park National Corporation Annual Report
Board of Directors
William T. McConnell Emeritus, Director since 1977
Donna M. Alvarado
President
Aguila International
Director since 2013
Frederic Bertley, Ph.D.
President and CEO
COSI
Director since 2021
C. Daniel DeLawder
Chair, Executive Committee
Park National Corporation
Director since 1994
F. W. Englefield IV
President
Englefield, Inc.
Director since 2005
Jason N. Judd
Executive Vice President and CFO
Safelite Group, Inc.
Director since 2019
Stephen J. Kambeitz
Entrepreneur
Director since 2010
Timothy S. McLain
Principal
Dark Horse CPAs
Director since 2010
D. Byrd Miller III
Retired
William Barnet & Son, LLC
Director since 2022
Matthew R. Miller
President
Park National Corporation
Director since 2019
Robert E. O’Neill
President
Southgate Corporation
Director since 2013
Mark R. Ramser
President
Ohio Cumberland Gas Company Park National Corporation
Director since 2019
David L. Trautman
Chair and CEO
Director since 2005
Leon Zazworsky
President
Mid State Systems, Inc
Director since 2003
Alicia Sweet Hupp retired from the board
of directors on April 24, 2023. We are
grateful for her leadership and expertise.
Executive Officers
Brady T. Burt
Chief Financial Officer
Matthew R. Miller
President
David L. Trautman
Chair and CEO
Park National Corporation Annual Report ▶ 19
Advisory Board Members
C A R O L I N A R E G I O N
Vic Bailey III
Vic Bailey Automotive
David B. Barnett
Retired, Park National Bank
Carl R. Bartlett
Retired, Wachovia
W. Louis Bissette Jr.
McGuire, Wood & Bissette Law Firm
Terrence L. Cash
Caman Group, Inc.
Norman Chapman
Inman Mills
T. Alexander Evins
Parker Poe Adams & Bernstein, LLP
George M. Groome
Retired, Colton, Groome & Company
John D. Kimberly
Park National Bank
Samuel H. Maw Jr.
Retired, Denny’s Inc.
D. Byrd Miller III
Retired, William Barnet & Son, LLC
John S. Poole
Retired, Carolina Alliance Bank
William Allen Rogers II
Ewing Capital Partners, LLC/Allen C. Ewing & Co.
William Ronald Shaw
Shaw Resources
Cheryl L. Snyder
Park National Bank
L. Terrell Sovey
Management Advisory Services, Inc.
Laura Stille
Fretwell Partners
Mary Thomas
CF Leads
Larry A. Webb
KDS Commercial Properties, Webb Development, LLC
W. Lewis White Sr.
W. Lewis White Company, Inc.
C E N T R A L R E G I O N
Dean DeRolph
Retired, Kumler Collision and Automotive
Jennifer Johns Friel
Midwest Fabricating Company
Leonard F. Gorsuch
Fairfield Homes/Gorsuch Construction
James L. McLain II
J. McLain CPA Group
S. Alan Risch
Risch Drug Stores
Laura F. Tussing
Park National Bank
Jennifer Gorsuch Walters
Fairfield Homes/Gorsuch Construction
Stephen G. Wells
Retired, Park National Bank
C H A R L O T T E M E T R O
Stephen Arnall
Capitala Group
Kenneth R. Beuley
The Keith Corporation
Jack M. Cathey, Ph.D.
University of North Carolina at Charlotte
Louis Foreman
Enventys
Charles T. Hodges
New Forum, Inc.
David L. Hood Jr.
Hood, Hargett & Associates
Timothy Ignasher
Park National Bank
Christine Mackie
Zippy Ice
Dennis W. Moser
The Moser Group
Donald Philip Renaldo, M.D.
Donald Automotive Group
Sara C. White
Mooresville Realty
E A S T R E G I O N
Daniel J. Atkinson
Muskingum Valley Health Centers
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 Law Offices
Susan K. Hasseler, Ph.D.
Muskingum University
Patrick L. Hennessey
P&D Transportation, Inc.
Henry C. Littick II
Southeastern Ohio Broadcasting Systems
Thomas M. Lyall
Retired, Park National Bank
Timothy S. McLain, CPA
Dark Horse CPAs
Patrick L. Nash
Park National Bank
Timothy J. Thompson
Primary Aim
N O R T H R E G I O N
Robert E. Boss*
Park National Bank
Michael L. Chambers
J&B Acoustical, Inc.
Timothy R. Cowen
Cowen Truck Line
Elizabeth A. DeLaney
Spherion Mid-Ohio Employment Services
Lois J. Fisher
Lois J. Fisher & Assoc.
Christopher R. Gabrelcik
Lubrication Specialties, Inc.
Christopher R. Hiner
Park National Bank
Korey M. Kidwell
Kidwell & Cunningham, Ltd.
Michael L. Kocher
MKB Farms Ltd.
William B. Levering
Levering Management, Inc.
Daniel L. Mathie
Critchfield, Critchfield & Johnston, Ltd.
Matthew D. Miller
City of Ashland, Ohio
Jeffrey S. Monica
McDonald’s
Mark R. Ramser
Ohio Cumberland Gas Co.
Kim M. Rose
Critchfield, Critchfield & Johnston, Ltd.
Gordon E. Yance
Retired, Park National Bank
W E S T R E G I O N
Dr. Richard N. Adams*
Retired, Representative of Ohio General Assembly
Steven C. Badgett
Retired, Park National Bank
Tamara L. Baird-Ganley
Baird Funeral Home
Tyeis Baker-Baumann
Retired business owner
John A. Brown
Park National Bank
Travis J. Faber
Faber & Associates
Jeffrey E. Hittle
Hittle Buick GMC
Douglas D. Hulme, DVM*
Retired, Oakview Veterinary Hospital
Alicia Sweet Hupp
Sweet Manufacturing Company
Timothy Johnston
Retired
Thomas P. Loftis*
Midland Properties, Inc.
John McKinnon
Clark Schaffer Hackett & Co.
Scott D. Michael
Michael Farms
W. Samuel Robinson
Retired, Murray Wells Wendeln & Robinson, CPAs
Chester L. Walthall*
Walthall Holding Co. Inc.
20 ◀ Park National Corporation Annual Report
*Retired as of 12/31/23
Metro Locations
Clermont, Franklin and Hamilton counties (OH),
Jefferson County (KY), Guilford and Mecklenburg counties (NC)
MAR KE T
PRESIDE NT S
Brady Waltz
200 South Civic Center Drive
Columbus, OH 43215
W. Andrew Holden
545 South Third Street
Louisville, KY 40245
Tim Ignasher
1300 Baxter Street
Charlotte, NC 28204
Bryant Fox
3825 Edwards Road
Cincinnati, OH 45209
614-228-9915
502-975-7170
704-943-5757
513-718-6057
brady.waltz@
parknationalbank.com
andrew.holden@
parknationalbank.com
tim.ignasher@
parknationalbank.com
bryant.fox@
parknationalbank.com
T O TA L LOA N S
T O TA L D E P O S I T S
T R U S T A S S E T S
$1,192,395
CO MMUNIT Y DO NAT IONS
187
AS SOCIATES
11
C OM M U NIT IES
2,731
VOLU NTE ER HOU R S
11OFFIC ES
Park National Corporation Annual Report ▶ 21
Carolina Region
Buncombe and Henderson counties (NC)
Anderson, Greenville, Pickens and Spartanburg counties (SC)
RE GIONAL
PRESIDE NT
T O TA L LO A N S
John Kimberly
200 South Church Street
Spartanburg, SC 29306
864-208-0844
john.kimberly@
parknationalbank.com
RE GIONAL
LE ADE R S
Tim Camp
Commercial Banking
Leslie Minnis
Home Lending
Coleman Edmunds
Retail Banking
Jim Honeycutt
Trust and Investments
T O TA L D E P O S I T S
T R U S T A S S E T S
22 ◀ Park National Corporation Annual Report
$327,757
C OM M U NIT Y DO NATION S
85
AS SO C IATES
7
C OM M UN ITIE S
1,239
VOLU NTE ER HOURS
7
O FFICES
Central Ohio Region
Athens, Fairfield, Hocking and Licking counties
RE GIONAL
PRESIDE NT
T O TA L LO A N S
T O TA L D E P O S I T S
T R U S T A S S E T S
Laura Tussing
50 North Third Street
Newark, OH 43055
740-681-8218
laura.tussing@
parknationalbank.com
RE GIONAL
LE ADE R S
Corey Alton
Commercial Banking
Rob Springer
Consumer Lending Director
Erica Chance
Consumer Lending
Brian Elder
Community Home Lending
and Development Director
Tina Taley
Home Lending
Eric Croft
Retail Banking
Luann Snyder
Trust and Investments
$1,620,646
C OM M U NIT Y DONATI ONS
199
AS SO CIATE S
13
C OM M UN ITIE S
4,179
VOLU NTE ER HOURS
17
O FFICES
Park National Corporation Annual Report ▶ 23
Eastern Ohio Region
Coshocton, Muskingum, Perry and Tuscarawas counties
RE GIONAL
PRESIDE NT
T O TA L LOA N S
T O TA L D E P O S I T S
T R U S T A S S E T S
Pat Nash
14 South Fifth Street
Zanesville, OH 43701
740-455-7207
patrick.nash@
parknationalbank.com
RE GIONAL
LE ADE R S
Alton Thompson
Commercial Banking
Matt Colwell
Consumer Lending
Paula Meadows
Home Lending
Steve Haren
Retail Banking
Jody Spencer
Trust and Investments
24 ◀ Park National Corporation Annual Report
$374,238
C OM M U NIT Y DON AT IONS
107
AS SO CIATE S
7C OM M U NITIE S
2,575
VOLU NTE ER HOURS
12O FFICES
Northern Ohio Region
Ashland, Crawford, Holmes, Knox, Marion, Morrow, Richland and Wayne counties
RE GIONAL
PRESIDE NT
T O TA L LOA N S
Chris Hiner
3 North Main Street
Mansfield, OH 44902
419-524-3370
chris.hiner@
parknationalbank.com
RE GIONAL
LE ADE R S
James Hobson
Commercial Banking
Jerry Simon
Consumer Lending
Ryan Smith
Home Lending
Rachelle Dallas
Retail Banking
Todd Hawkins
Trust and Investments
T O TA L D E P O S I T S
T R U S T A S S E T S
$765,939
C OM M U NIT Y DON AT IONS
235
AS SO CIATE S
18
C OM M UN ITIE S
4,750
VOLU NTEER HO URS
After 16 years of service,
Regional President Bob Boss
retired at the end of 2023.
We wish him the very best
retirement has to offer.
24
O FFICES
Park National Corporation Annual Report ▶ 25
Western Ohio Region
Champaign, Clarke, Darke, Greene, Mercer and Miami counties
RE GIONAL
PRESIDE NT
T O TA L LOA N S
T O TA L D E P O S I T S
T R U S T A S S E T S
John Brown
40 South Limestone Street
Springfield, OH 45502
937-324-6877
john.brown@
parknationalbank.com
RE GIONAL
LE ADE R S
Pat Rastatter
Commercial Banking
Eric McKee
Consumer Lending
Scott Rasor
Home Lending
Connie Craig
Retail Banking
Ken Magoteaux
Trust and Investments
26 ◀ Park National Corporation Annual Report
$630,521
C OM M U NIT Y DONATI ONS
182
AS SO CIATE S
18
C OM M UN ITIE S
2,563
VOLU NTEER H OURS
24
O FFICES
Shareholder Information
Stock Listing
NYSE AMERICAN Symbol – PRK
CUSIP #700658107
General Shareholder Inquiries
Park National Corporation
Brady Burt, Chief Financial Officer and Secretary
50 North Third Street
Post Office Box 3500
Newark, Ohio 43058-9983
740-399-5516
investor@parknationalbank.com
Dividend Reinvestment Plan
Park 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 Park. Details of the plan and an
enrollment card can be obtained by contacting Park’s stock transfer agent and registrar as indicated below.
Direct Deposit of Dividends
Park 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 Park’s stock transfer agent and registrar as indicated below.
Stock Transfer Agent and Registrar
Broadridge Shareholder Services: P.O. Box 1342, Brentwood, NY 11717
844-976-0739 | shareholder@broadridge.com | https://shareholder.broadridge.com/prk
Overnight mail:
Broadridge Shareholder Services, Attn: IWS: 1155 Long Island Avenue, Edgewood, NY 11717
Form 10-K
All forms filed by the Corporation with the SEC (including our Form 10-K for 2023) are available on our website by
clicking on the “SEC Filings” 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
Park National Corporation Annual Report ▶ 27
parknationalcorp.com
50 North Third Street, Newark, OH 43055
28 ◀ Park National Corporation Annual Report