Park National Corporation — Third Quarter 2026 Earnings Summary

Financial Performance:

• Net income for the third quarter of 2026 was $56.9 million, a 20.7% increase from $47.2 million in the third quarter of 2025.
• Net income per diluted common share was $3.13 for the third quarter of 2026, compared to $2.92 in the third quarter of 2025.
• Net income for the first nine months of 2026 was $157.4 million, a 14.5% increase from $137.4 million in the first nine months of 2025.
• Net income per diluted common share for the first nine months of 2026 was $8.77, compared to $8.48 for the same period in 2025.
• Third quarter 2026 included $7.0 million ($5.5 million after tax) in expenses related to the merger with First Citizens Bancshares, Inc.
• The first nine months of 2026 included $26.5 million ($21.0 million after tax) in merger-related expenses and other income reducing charges.
• Net interest income for the third quarter of 2026 was $140.7 million, a 26.8% increase from $111.0 million in the third quarter of 2025.
• Other income for the third quarter of 2026 was $36.6 million, a 19.8% increase from $30.6 million in the third quarter of 2025.
• Other expense for the third quarter of 2026 was $107.5 million, a 35.3% increase from $79.5 million in the third quarter of 2025.
• Return on average assets was 1.77% for the third quarter of 2026, compared to 1.83% in the third quarter of 2025.
• Return on average shareholders' equity was 12.92% for the third quarter of 2026, compared to 14.19% in the third quarter of 2025.
• Net interest margin was 4.84% for the third quarter of 2026, compared to 4.72% in the third quarter of 2025.
• Efficiency ratio was 60.25% for the third quarter of 2026, compared to 55.85% in the third quarter of 2025.
• Total assets were $12.6 billion as of September 30, 2026.
• Total loans increased $1.72 billion, or 21.4%, during 2026, including $1.58 billion acquired through the First Citizens transaction.
• Total deposits increased $2.38 billion, or 28.9%, during 2026, including $2.22 billion acquired through the First Citizens transaction.
• Allowance for credit losses was $109.9 million as of September 30, 2026, compared to $91.8 million as of September 30, 2025.
• Net loan charge-offs for the third quarter of 2026 were $2.8 million, compared to $2.1 million in the third quarter of 2025.
• Nonperforming loans were $90.4 million as of September 30, 2026, compared to $90.6 million as of September 30, 2025.

Business Segments and Product Lines:

• The combination of solid loan growth and steady deposits contributed to Park's success in 2026.
• The increase in total loans included $1.58 billion in loans acquired through the First Citizens transaction.
• The increase in total deposits included $2.22 billion in deposits acquired through the First Citizens transaction.
• Banking operations are conducted through its subsidiary, The Park National Bank.
• Other subsidiaries include Scope Leasing, Inc. (d.b.a. Scope Aircraft Finance), Park Investments, Inc., Park National Holdings, Inc., First Citizens Properties, Inc., First Citizens Risk Management, Inc., and SE Property Holdings, LLC.

Management Commentary and Tone:

• CEO and President Matthew R. Miller stated that continued solid financial performance reflects the strength of the relationship-based approach to banking and the dedication of colleagues.
• Management expressed gratitude for the trust of customers and communities, including those recently welcomed in Tennessee.
• Chairman David L. Trautman noted that results represent the compounded effect of colleagues' efforts and stated that the scoreboard looks favorable for the year.
• Management highlighted a commitment to shareholders through the declaration of a special dividend.

Other Key Points:

• The board of directors declared a quarterly cash dividend of $1.10 per common share and a special cash dividend of $1.30 per common share.
• Dividends are payable on December 10, 2026, to common shareholders of record as of November 20, 2026.
• The company completed the acquisition of First Citizens Bancshares, Inc., which significantly impacted loan and deposit growth and incurred merger-related expenses.
• The company operates in the banking industry with a focus on helping stakeholders achieve financial success and prosperity.