At a glance
Park National Corporation is worth $3.22B, about 16 times its fiscal 2025 earnings. Revenue grew 2.9% to $664.4M in fiscal 2025, with 27.1% kept as profit; over 5 years it has grown 7.9% a year. It pays a 3.15% dividend yield, and returned $446.5M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +16.1% over the past year with dividends reinvested and +10.6% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 24.8% in the 2020 crash (S&P 500: 33.7%) and 20.3% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months and 5 months after the lows.
The business in plain English
Park National Corporation, based in Newark, Ohio, owns Park National Bank, whose roots go back to 1908. The bank takes deposits, makes commercial, real estate and consumer loans, and offers wealth management, including trust and investment services. As of December 31, 2025, it ran 87 offices, including 82 branches, in Ohio, Kentucky, North Carolina and South Carolina. It focuses on small and mid-sized communities plus the Columbus, Cincinnati, Charlotte, Louisville and Raleigh metro areas.
Park makes most of its money from net interest income: the gap between what it earns on loans and investments and what it pays on deposits and borrowings. In 2025 that was $437.3 million, versus $119.9 million of noninterest income, such as fees. Park reports one business segment and no regional revenue split. Commercial loans and leases made up about 42.9% of loans at the end of 2025. Subsidiary Scope Aircraft Finance lends nationwide to small businesses and entrepreneurs that use aircraft.
On February 1, 2026, Park acquired Tennessee-based First Citizens Bancshares, which had $2.6 billion in assets and $2.2 billion in deposits. Park issued 1,988,131 new shares in the deal, valued at $324.1 million, and its assets passed $10.0 billion. As of June 30, 2026, Park held $12.7 billion in assets, $9.6 billion in loans and $10.7 billion in deposits.
Price history
The interactive chart needs JavaScript.
PRK +16.1% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $211.9M, up 25.6% from a year earlier, and net income was $58.8M (+22.1%).
- For fiscal 2025, revenue was $664.4M (+2.9% year over year; +7.9% a year from FY2020 to FY2025) with a 27.1% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +7.9% good |
|---|---|
| Return on equity | 13.3% good |
| Net income / revenue | 27.1% good |
| Deposits | $10.67B |
| Loans | $9.62B |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $453.3M | $127.9M | — |
| FY2021 | $459.8M | $153.9M | — |
| FY2022 | $514.2M | $148.4M | — |
| FY2023 | $564.3M | $126.7M | — |
| FY2024 | $645.6M | $151.4M | — |
| FY2025 | $664.4M | $180.1M | — |
Valuation snapshot
| Market value | $3.22B |
|---|---|
| P/E ratio | 16.1 |
| Dividend yield | 3.15% |
Rank among 1514 US companies
Market value at each year end
Park National’s market value went from $1.84B at the end of 2016 to $3.22B on Oct 28, 2026, up 76%; since the end of 2025 it is up 32%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $3.22B | +31.8% |
| 2025 | $2.45B | -11.7% |
| 2024 | $2.77B | +29.4% |
| 2023 | $2.14B | -6.5% |
| 2022 | $2.29B | +2.8% |
| 2021 | $2.23B | +30.0% |
| 2020 | $1.71B | +2.4% |
| 2019 | $1.67B | +25.5% |
| 2018 | $1.33B | -16.1% |
| 2017 | $1.59B | -13.4% |
| 2016 | $1.84B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| PRK price data to Oct 28, 2026 | +19.4% | +16.1% | +25.0% | +10.6% | +10.3% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +19.4% |
| 2025 | -8.2% |
| 2024 | +33.0% |
| 2023 | -2.0% |
| 2022 | +6.2% |
| 2021 | +35.6% |
| 2020 | +7.7% |
| 2019 | +25.9% |
| 2018 | -15.1% |
| 2017 | -9.8% |
| 2016 | +37.6% |
| 2015 | +6.7% |
| 2014 | +9.2% |
| 2013 | +38.4% |
| 2012 | +5.1% |
| 2011 | -4.6% |
| 2010 | +31.1% |
| 2009 | -12.6% |
| 2008 | +17.7% |
| 2007 | -31.9% |
| 2006 | +0.0% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 52.4% over that stretch · deepest drop along the way 52.4%, back to its old high 34.6 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 24.5% over that stretch · deepest drop along the way 24.8%, back to its old high 7.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 4.2% over that stretch · deepest drop along the way 20.3%, back to its old high 5.3 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 0 sales ($0.00).
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 13% | Jun 30, 2025 |
| Park National Bank, Trustee By: Amber L Cummins, AVP and Trust Officer | 7.8% | Dec 31, 2025 |
| Vanguard Portfolio Management | 5.39% | Mar 31, 2026 |
ETFs with the most weight in PRK
| PSCF Invesco S&P SmallCap Financials ETF | 0.69% |
| FYC First Trust Small Cap Growth AlphaDEX Fund | 0.4% |
| AVSC Avantis U.S Small Cap Equity ETF | 0.34% |
| KRE SPDR S&P Regional Banking ETF | 0.33% |
| AFSM First Trust Active Factor Small Cap ETF | 0.28% |
| BFOR ALPS Barron's 400 ETF | 0.26% |
| IJT iShares S&P Small-Cap 600 Growth ETF | 0.25% |
| OMFS Invesco Russell 2000 Dynamic Multifactor ETF | 0.24% |
What could go wrong
- Crossing $10 billion brings stricter rules. Park expects to stay above $10.0 billion in assets, which brings direct oversight by the Consumer Financial Protection Bureau and caps on debit card swipe fees. That could raise costs and reduce fee income.
- First Citizens merger may disappoint. Combining the two banks may prove harder, costlier or slower than expected, and planned cost savings may not appear. The deal also added 1,988,131 shares, diluting existing owners' stakes.
- Justice Department consent order adds restrictions. Park National Bank must meet extra requirements and restrictions under a U.S. Department of Justice consent order, a court-approved agreement in a federal court in Ohio, adding compliance work.
- Tied to a few regional economies. Lending is concentrated in Ohio, Kentucky, the Carolinas and, since February 1, 2026, Tennessee, much of it tied to local real estate. A regional downturn or falling property values could raise loan losses.
- Interest rate swings can squeeze profits. Park earns mainly on the gap between loan and deposit rates. Rising rates can force it to pay depositors more; falling rates can bring loan prepayments and lower yields.
- Loan losses could exceed reserves. Park's lending standards and its allowance for credit losses, money set aside for expected bad loans, may not be enough if borrowers fail to repay in large numbers.
Recent events
- Quarterly results released; Investor presentation or announcement; Other company announcement
- Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement; Other company announcement
- Investor presentation or announcement
- Executive or board change; Shareholder vote results
- Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement; Other company announcement
- Investor presentation or announcement
- Acquisition or sale of assets completed; Executive or board change; Other company announcement
- Quarterly results released; Investor presentation or announcement; Other company announcement
For income and retirement investors
Park paid a dividend every year from 2020 to 2025, though not always a larger one. Dividends per share grew from $4.28 to $5.53, about 5.3% a year, yet dipped to $4.20 in 2023, so the run of increases covers only 2024 and 2025. Dividends took 49.9% of 2025 earnings, and the yield was 3.15% as of October 28, 2026. Its 10-K says Park's ability to pay dividends is limited. Buybacks were modest: $59.2 million over 2021–2025, against $387.3 million in dividends. The share count rose 11.4% from November 2021 to August 2026, partly from shares issued for First Citizens.
The stock has fallen hard in downturns. It dropped 52.4% in the 2008 financial crisis and took 34.6 months after the low to recover. It fell 24.8% in the 2020 COVID crash and 20.3% in early 2022, recovering within 7.6 and 5.3 months. A single stock like Park carries more risk than a diversified fund.
Questions investors ask
How does Park National make money?
Mainly from lending. Park National Bank earns interest on commercial, real estate and consumer loans and on investments, and pays interest on deposits. The difference, called net interest income, was $437.3 million in 2025, while noninterest income such as fees added $119.9 million. Net income was $180.1 million, or $11.11 per diluted share. The bank serves Ohio, Kentucky, North Carolina, South Carolina and, since February 1, 2026, Tennessee.
Does Park National raise its dividend every year?
No. Dividends per share rose from $4.28 in 2020 to $5.53 in 2025, but fell from $4.66 in 2022 to $4.20 in 2023, so the latest run of increases covers only 2024 and 2025. Regular dividends grew about 5.3% a year over FY2020–FY2025. Dividends took 49.9% of 2025 earnings, and the yield was 3.15% as of October 28, 2026.
Did Park National merge with First Citizens Bancshares?
Yes. On February 1, 2026, Tennessee-based First Citizens Bancshares merged into Park, and its bank merged into Park National Bank. As of January 31, 2026, First Citizens had $2.6 billion in assets, $1.6 billion in loans and leases, and $2.2 billion in deposits. Park issued 1,988,131 shares in the deal, valued at $324.1 million. The merger lifted Park's assets above $10.0 billion, a level that brings extra federal oversight and caps on debit card fees.
What is Park National's P/E ratio?
About 16.1 as of October 28, 2026. The price-to-earnings (P/E) ratio divides the share price by earnings per share, here the $11.11 per diluted share Park earned in 2025. At that date the company's market value was about $3.2 billion and its dividend yield was 3.15%. Return on equity, a measure of profit relative to shareholders' capital, was 13.3% in 2025.
How risky is Park National stock?
It can fall hard, even though it has tended to move less in step with the broad market. As of October 28, 2026, its one-year beta, a measure of how much a stock moves with the market, was 0.31, and its annualized volatility, a gauge of price swings, was 25.3%. The shares lost 52.4% in the 2008 financial crisis, their deepest drop on record was 60.2%, and the worst decline in the three years to that date was 30.4%.