Summary
Park National Corporation operates as the bank holding company for Park National Bank that provides commercial banking and trust services in small and medium population areas. The company offers deposits for demand, savings, and time accounts; trust and wealth management services; cash management services; safe deposit operations; electronic funds transfers; Internet and mobile banking solutions with bill pay service; credit cards; and various additional banking-related services for individual customers. It also provides commercial loans, including financing for industrial and commercial properties, financing for equipment, inventory and accounts receivable, acquisition financing, and commercial leasing, as well as for consumer finance companies; commercial real estate loans comprising mortgage loans to developers and owners of commercial real estate; consumer loans, such as automobile loans and leases; consumer finance services; home equity lines of credit; and residential real estate and construction loans, as well as installment loans and commercial loans. In addition, the company offers aircraft financing and asset management services. As of December 31, 2021, it operated 96 financial service offices and a network of 116 automated teller machines in 26 Ohio counties, 1 Kentucky county, 3 North Carolina counties, and 4 South Carolina counties. The company was founded in 1908 and is headquartered in Newark, Ohio.
History
Park National Bank was founded in July 1908 under the name The Park National Bank of Newark. The organization changed its name to Park National Bank in 1971 shortly after acquiring The People's State Bank. The company then acquired The Utica Savings Bank Company in 1973, followed by The Fairfield National Bank of Lancaster.
During the housing crisis of the early 2000s, Park National acquired nine other banks in a three year period. Most of these acquisitions happened within the 2008 fiscal year, which was the peak of the crisis. The company managed to acquire seven different banks in 2008. The next acquisition for the corporation was NewDominion Bank, which brought Park National into the North Carolina area. One of their affiliates has also recently announced plans to build a location in Kentucky.
The Carolina Alliance Bank is the latest bank to join the organization expanding the region into South Carolina. The Park National Family of Banks is now operating in 28 counties in Ohio, one in Kentucky, one in North Carolina, and two in South Carolina. There are 110 branches located in Ohio.
Mission
The purpose of The Park National Bank is to help communities grow and prosper by providing superior financial products and services for individuals, families and businesses.
Vision
The Park National Bank's vision is to be the premier provider of financial services in the communities it serves, continuing to provide the highest level of customer service and leveraging technology to meet the changing needs of its customers.
Key Team
Ms. Kelly A. Herreman CPA (Chief Accounting Officer)
Bethany Lewis (VP of Marketing & Communication)
Recognition and Awards
The Park National Bank has been recognized for its success in the banking industry and its commitment to its local communities. It has been honored with the BBB's Torch Award for Marketplace Ethics, the Chamber of Commerce Excellence Award, and has been listed as one of the top 200 banks in the nation by Forbes magazine.
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