PARK NATIONAL CORP /OH/

Park National Corporation reported strong financial results for the second quarter and first half of 2026. Second-quarter net income increased 22.1% to $58.8 million, with diluted earnings per share reaching $3.23. The company's performance was significantly influenced by the First Citizens Bancshares, Inc. merger, which drove substantial growth in total loans and deposits, despite incurring merger-related expenses. The board of directors also declared a quarterly cash dividend of $1.10 per common share.

Park National Corporation reported strong financial results for the second quarter and first half of 2026, driven by its relationship-based banking model and the First Citizens merger. Net income for Q2 2026 rose 22.1% to $58.8 million, with diluted EPS increasing to $3.23. The company's board also declared a quarterly cash dividend of $1.10 per common share. The merger significantly contributed to a 20.9% increase in total loans and a 29.4% increase in total deposits during 2026.

Park National Corporation reported adjusted net income of $53.5 million for Q1 2026, up from $47.5 million in Q4 2025. The company's total assets grew to $13.0 billion as of March 31, 2026, following the acquisition of First Citizens Bancshares, Inc. on February 1, 2026. Key profitability metrics included an adjusted return on average assets of 1.83% and an adjusted return on average tangible common equity of 16.21%. The company also maintained robust capital ratios and strong asset quality.

Park National Corporation completed its merger with First Citizens Bancshares, Inc. on February 1, 2026, a transaction valued at $324.1 million, significantly expanding its market presence. The acquisition led to substantial growth in total assets and deposits, but also resulted in $15.5 million in merger-related expenses during the first quarter. Consequently, Q1 2026 net income slightly decreased to $41.687 million and basic EPS fell to $2.40 compared to the prior year, despite a notable increase in net interest income. Pro forma results indicate that if the merger had occurred earlier, net income and EPS would have been higher, suggesting underlying operational strength post-acquisition.

Park National Corporation adopted its 2026 Long-Term Incentive Plan for Employees, replacing the 2017 plan. The new plan aims to foster long-term financial success, increase shareholder value, and attract and retain talent through various incentive awards. It authorizes 1,500,000 common shares for grants, with specific annual and individual limits, and outlines terms for options, restricted stock, and performance-based awards.

Park National Corporation announced that its Annual Meeting of Shareholders was held virtually on April 27, 2026, at 2:00 p.m. Eastern Daylight Savings Time. Chairman of the Board, David L. Trautman, made a presentation during the meeting. The slides accompanying Mr. Trautman's presentation are furnished as Exhibit 99.1 to the Current Report on Form 8-K and are available on the company's investor relations website.

Park National Corporation announced its financial results for the first quarter ended March 31, 2026, through a news release issued on April 24, 2026. The company stated that the Financial Results News Release, incorporated by reference, includes non-U.S. GAAP financial measures and reconciliations to comparable U.S. GAAP measures. Additionally, the release addresses items impacting the comparability of period results, often related to merger and acquisition activities or significant corporate actions.

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.