Park National Corporation reported a net income of $48.1 million for the second quarter of 2025, marking a 22.2% increase from $39.4 million in the same period last year. For the first half of 2025, net income reached $90.3 million, up 21.1% from $74.6 million in the first half of 2024. The company’s total interest income for the second quarter was $136.5 million, a rise from $128.9 million year-over-year, while total interest expense decreased to $27.5 million from $31.1 million, contributing to a net interest income of $109 million, up 11.4% from the previous year.
In terms of operational metrics, Park National's total assets increased to $9.95 billion as of June 30, 2025, compared to $9.81 billion at the end of 2024. The loan portfolio grew to $7.96 billion, reflecting a 1.9% increase from $7.82 billion at the end of 2024. The allowance for credit losses also saw a slight increase to $89.8 million, up from $88.0 million at the end of the previous year. The company reported a provision for credit losses of $3.6 million for the first half of 2025, down from $5.3 million in the same period last year.
Strategically, Park National has focused on enhancing its loan portfolio, with a notable increase in commercial loans, which rose by 3.0% to $4.36 billion. The company also reported a significant increase in average loans, which rose by $343.1 million, or 4.55%, compared to the previous year. Additionally, the bank's total deposits increased by 1.2% to $8.24 billion, with non-interest bearing deposits slightly up to $2.62 billion.
Looking ahead, Park National Corporation remains optimistic about its growth trajectory, citing a strong capital position with total shareholders' equity increasing to $1.29 billion, or 13.0% of total assets. The company continues to monitor economic conditions, including inflation and interest rates, which could impact its performance. Management has indicated that it is prepared to adapt its strategies in response to changing market conditions, ensuring that it maintains a strong liquidity position and capital adequacy to support future growth.
About PARK NATIONAL CORP /OH/
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