Quarterly ResultApr 24, 2026, 04:18 PM
Park National Q1 Net Income $41.7M, Declares $1.10 Dividend
AI Summary
Park National Corporation reported Q1 2026 net income of $41.7 million, a 1.1% decrease from the prior year, with diluted EPS of $2.39. These results included $15.5 million in merger-related expenses following the successful completion of its merger with First Citizens Bancshares, Inc. on February 1, 2026. The company's board of directors also declared a quarterly cash dividend of $1.10 per common share. Total loans increased by $1.62 billion (20.1%) and total deposits by $2.76 billion (33.4%), primarily due to the First Citizens transaction.
Key Highlights
- Q1 2026 net income was $41.7 million, a 1.1% decrease year-over-year.
- Diluted EPS for Q1 2026 was $2.39.
- Merger-related expenses totaled $15.5 million ($12.4 million after tax).
- Quarterly cash dividend declared: $1.10 per common share.
- Total loans increased $1.62 billion (20.1%) in 2026, including $1.58 billion from merger.
- Total deposits increased $2.76 billion (33.4%) in 2026, including $2.22 billion from merger.