Net interest income growth reached 20.5% year-over-year in 2026Q1, though the efficiency ratio weakened to 55.8% as non-interest expenses outpaced revenue gains.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Net Interest Income | 458.71M | 437.31M | 398.02M | 373.11M | 347.06M | 329.89M | 327.63M | 297.74M | 266.9M | 243.76M | 238.09M | 227.63M | 225.04M | 221.03M | 235.31M | 273.23M | 274.04M | 273.49M | 255.87M | 234.68M | 213.24M | 220.56M | 212.29M | 202.64M | 205.33M | 192.94M | 180.79M | 173.8M | 123.58M | 103.5M | 94M |
| NII Growth % | 50.87% | 9.87% | 6.68% | 7.51% | 5.2% | 0.69% | 10.04% | 11.55% | 9.49% | 2.38% | 4.59% | 1.15% | 1.82% | -6.07% | -13.88% | -0.3% | 0.2% | 6.89% | 9.03% | 10.05% | -3.32% | 3.9% | 4.76% | -1.31% | 6.42% | 6.72% | 4.03% | 40.64% | 19.4% | 10.11% | 9.43% |
| Net Interest Margin % | 3.53% | 4.46% | 4.06% | 3.79% | 3.52% | 3.45% | 3.53% | 3.48% | 3.42% | 3.23% | 3.19% | 3.11% | 3.21% | 3.33% | 3.54% | 3.92% | 3.75% | 3.88% | 3.62% | 3.61% | 3.9% | 4.06% | 3.92% | 4.02% | 4.62% | 4.22% | 5.63% | 6.6% | 5.02% | 4.52% | 5.82% |
| Interest Income | 567.12M | 544.54M | 522.97M | 471.67M | 378.25M | 345.85M | 357.72M | 360.5M | 310.8M | 286.42M | 276.26M | 265.07M | 265.14M | 262.95M | 285.74M | 331.88M | 345.52M | 367.69M | 391.34M | 401.82M | 334.56M | 314.46M | 270.99M | 264.63M | 287.92M | 320.35M | 323.13M | 293.03M | 217.45M | 180.5M | 163.2M |
| Interest Expense | 108.4M | 107.23M | 124.95M | 98.56M | 31.19M | 15.96M | 30.09M | 62.76M | 43.9M | 42.66M | 38.17M | 37.44M | 40.1M | 41.92M | 50.42M | 58.65M | 71.47M | 94.2M | 135.47M | 167.15M | 121.31M | 93.89M | 58.7M | 61.99M | 82.59M | 127.4M | 142.34M | 119.24M | 93.87M | 77M | 69.2M |
| Loan Loss Provision | 13.4M | 11.49M | 14.54M | 2.9M | 4.56M | -11.92M | 12.05M | 6.17M | 7.95M | 8.56M | -38.17M | 4.99M | -7.33M | 3.42M | 35.42M | 63.27M | 87.08M | 68.82M | 70.49M | 29.48M | 3.93M | 5.41M | 8.6M | 12.6M | 15.04M | 13.06M | 14.79M | 12.47M | 6.98M | 7M | 5.3M |
| Non-Interest Income | 127.86M | 119.88M | 122.59M | 92.63M | 135.94M | 129.94M | 125.66M | 97.19M | 101.1M | 86.43M | 50.93M | 77.55M | 75.55M | 73.28M | 70.24M | 94.91M | 74.88M | 81.19M | 84.83M | 71.64M | 64.76M | 59.7M | 51.85M | 55.52M | 50.85M | 45.24M | 37.46M | 32.1M | 26.45M | 20.7M | 16.7M |
| Non-Interest Income % | 18.4% | 18.04% | 18.99% | 16.42% | 26.44% | 27.31% | 26% | 21.24% | 24.54% | 23.18% | 15.57% | 22.63% | 22.18% | 21.79% | 19.73% | 22.24% | 17.81% | 18.09% | 17.82% | 15.13% | 16.22% | 15.96% | 16.06% | 17.34% | 15.01% | 12.37% | 10.39% | 9.87% | 10.85% | 10.29% | 9.28% |
| Total Revenue | 694.98M | 664.42M | 645.55M | 564.3M | 514.18M | 475.8M | 483.38M | 457.69M | 411.9M | 372.85M | 327.19M | 342.63M | 340.69M | 336.22M | 355.97M | 426.79M | 420.4M | 448.88M | 476.17M | 473.46M | 399.32M | 374.16M | 322.84M | 320.15M | 338.77M | 365.59M | 360.6M | 325.13M | 243.9M | 201.2M | 179.9M |
| Revenue Growth % | 28.02% | 2.92% | 14.4% | 9.75% | 8.07% | -1.57% | 5.61% | 11.12% | 10.47% | 13.96% | -4.51% | 0.57% | 1.33% | -5.55% | -16.59% | 1.52% | -6.35% | -5.73% | 0.57% | 18.57% | 6.72% | 15.9% | 0.84% | -5.5% | -7.34% | 1.38% | 10.91% | 33.3% | 21.22% | 11.84% | 8.18% |
| Non-Interest Expense | 351.38M | 324.38M | 321.34M | 309.24M | 297.98M | 283.52M | 286.6M | 263.99M | 228.75M | 203.16M | 177.51M | 186.61M | 187.51M | 181.51M | 165.8M | 188.32M | 187.11M | 188.72M | 234.5M | 224.16M | 141M | 139.44M | 126.29M | 122.38M | 119.96M | 114.21M | 106.86M | 103.46M | 75.32M | 62.6M | 59.1M |
| Efficiency Ratio | 50.56% | 48.82% | 49.78% | 54.8% | 57.95% | 59.59% | 59.29% | 57.68% | 55.54% | 54.49% | 54.25% | 54.47% | 55.04% | 53.99% | 46.58% | 44.12% | 44.51% | 42.04% | 49.25% | 47.35% | 35.31% | 37.27% | 39.12% | 38.22% | 35.41% | 31.24% | 29.63% | 31.82% | 30.88% | 31.11% | 32.85% |
| Operating Income | 221.8M | 221.32M | 184.72M | 153.6M | 180.46M | 188.24M | 154.65M | 124.77M | 131.3M | 118.47M | 149.68M | 113.58M | 120.42M | 109.37M | 104.33M | 116.56M | 74.74M | 97.14M | 35.72M | 52.68M | 133.08M | 135.42M | 129.25M | 123.19M | 121.17M | 110.92M | 96.6M | 89.96M | 67.73M | 54.6M | 46.3M |
| Operating Margin % | 31.91% | 33.31% | 28.62% | 27.22% | 35.1% | 39.56% | 31.99% | 27.26% | 31.88% | 31.77% | 45.75% | 33.15% | 35.34% | 32.53% | 29.31% | 27.31% | 17.78% | 21.64% | 7.5% | 11.13% | 33.33% | 36.19% | 40.03% | 38.48% | 35.77% | 30.34% | 26.79% | 27.67% | 27.77% | 27.14% | 25.74% |
| Operating Income Growth % | - | 19.81% | 20.26% | -14.88% | -4.13% | 21.72% | 23.94% | -4.97% | 10.83% | -20.85% | 31.78% | -5.68% | 10.1% | 4.83% | -10.49% | 55.95% | -23.06% | 171.94% | -32.19% | -60.42% | -1.73% | 4.78% | 4.92% | 1.66% | 9.25% | 14.82% | 7.38% | 32.82% | 24.05% | 17.93% | 15.17% |
| Pretax Income | 221.8M | 221.32M | 184.72M | 153.6M | 180.46M | 188.24M | 154.65M | 124.77M | 131.3M | 118.47M | 122.89M | 113.58M | 120.42M | 109.37M | 104.33M | 116.56M | 74.74M | 97.14M | 35.72M | 52.68M | 133.08M | 135.42M | 129.25M | 123.19M | 121.17M | 110.92M | 96.6M | 89.96M | 67.73M | 54.6M | 46.3M |
| Pretax Margin % | 31.91% | 33.31% | 28.62% | 27.22% | 35.1% | 39.56% | 31.99% | 27.26% | 31.88% | 31.77% | 37.56% | 33.15% | 35.34% | 32.53% | 29.31% | 27.31% | 17.78% | 21.64% | 7.5% | 11.13% | 33.33% | 36.19% | 40.03% | 38.48% | 35.77% | 30.34% | 26.79% | 27.67% | 27.77% | 27.14% | 25.74% |
| Income Tax | 42.19M | 41.25M | 33.3M | 26.87M | 32.11M | 34.29M | 26.72M | 22.07M | 20.91M | 34.23M | 36.76M | 32.57M | 36.46M | 32.5M | 25.7M | 34.41M | 16.64M | 22.94M | 22.01M | 29.97M | 38.99M | 40.19M | 37.74M | 36.31M | 35.6M | 32.55M | 28.06M | 26.16M | 20.72M | 16.9M | 14.6M |
| Effective Tax Rate % | 19.02% | 18.64% | 18.03% | 17.49% | 17.79% | 18.22% | 17.28% | 17.69% | 15.93% | 28.89% | 29.91% | 28.67% | 30.28% | 29.72% | 24.63% | 29.53% | 22.26% | 23.62% | 61.62% | 56.89% | 29.3% | 29.67% | 29.2% | 29.48% | 29.38% | 29.35% | 29.04% | 29.08% | 30.6% | 30.95% | 31.53% |
| Net Income | 179.6M | 180.07M | 151.42M | 126.73M | 148.35M | 153.94M | 127.92M | 102.7M | 110.39M | 84.24M | 86.14M | 81.01M | 83.96M | 76.87M | 78.63M | 82.14M | 58.1M | 74.19M | 13.71M | 22.71M | 94.09M | 95.24M | 91.51M | 86.88M | 85.58M | 78.36M | 68.55M | 63.8M | 47.01M | 37.7M | 31.7M |
| Net Margin % | 25.84% | 27.1% | 23.46% | 22.46% | 28.85% | 32.36% | 26.46% | 22.44% | 26.8% | 22.59% | 26.33% | 23.64% | 24.64% | 22.86% | 22.09% | 19.25% | 13.82% | 16.53% | 2.88% | 4.8% | 23.56% | 25.45% | 28.34% | 27.14% | 25.26% | 21.43% | 19.01% | 19.62% | 19.27% | 18.74% | 17.62% |
| Net Income Growth % | 13.41% | 18.92% | 19.48% | -14.57% | -3.63% | 20.34% | 24.56% | -6.96% | 31.04% | -2.2% | 6.32% | -3.51% | 9.22% | -2.24% | -4.27% | 41.37% | -21.69% | 441.23% | -39.63% | -75.87% | -1.2% | 4.08% | 5.33% | 1.52% | 9.21% | 14.32% | 7.43% | 35.73% | 24.69% | 18.93% | 14.03% |
| Net Income (Continuing) | 179.6M | 180.07M | 151.42M | 126.73M | 148.35M | 153.94M | 127.92M | 102.7M | 110.39M | 84.24M | 86.14M | 81.01M | 83.96M | 76.87M | 78.63M | 82.14M | 58.1M | 74.19M | 13.71M | 22.71M | 94.09M | 95.24M | 91.51M | 86.88M | 85.58M | 78.36M | 68.55M | 63.8M | 47.01M | 37.7M | 31.7M |
| EPS (Diluted) | 10.29 | 11.11 | 9.32 | 7.80 | 9.07 | 9.37 | 7.80 | 6.29 | 7.07 | 5.47 | 5.59 | 5.26 | 5.46 | 5.01 | 4.88 | 4.95 | 3.45 | 4.82 | 0.97 | 1.60 | 6.74 | 6.64 | 6.32 | 5.97 | 5.86 | 5.31 | 4.58 | 4.08 | 4.02 | 3.63 | 3.07 |
| EPS Growth % | 11.79% | 19.21% | 19.49% | -14% | -3.2% | 20.13% | 24.01% | -11.03% | 29.25% | -2.15% | 6.27% | -3.66% | 8.98% | 2.66% | -1.41% | 43.48% | -28.42% | 396.91% | -39.38% | -76.26% | 1.51% | 5.06% | 5.86% | 1.88% | 10.36% | 15.94% | 12.25% | 1.49% | 10.74% | 18.24% | 14.55% |
| EPS (Basic) | - | 11.18 | 9.38 | 7.84 | 9.13 | 9.45 | 7.85 | 6.33 | 7.13 | 5.51 | 5.62 | 5.27 | 5.46 | 5.01 | 4.88 | 4.95 | 3.45 | 4.82 | 0.97 | 1.60 | 6.75 | 6.68 | 6.38 | 6.01 | 5.88 | 5.32 | 4.59 | 4.10 | 4.04 | 3.65 | 3.07 |
| Diluted Shares Outstanding | 17.46M | 16.18M | 16.25M | 16.25M | 16.36M | 16.43M | 16.41M | 16.33M | 15.61M | 15.39M | 15.4M | 15.4M | 15.41M | 15.41M | 15.41M | 15.4M | 15.16M | 14.21M | 13.96M | 14.22M | 13.96M | 14.34M | 14.48M | 14.55M | 14.61M | 14.76M | 11.43M | 10.27M | 11.7M | 10.39M | 8.39M |
NIM compression and credit
According to the latest quarterly financial data, Park National Corporation achieved a significant NII expansion to $125.8 million in 2026Q1, representing a 20.5% year-over-year growth rate that suggests successful loan volume scaling despite a challenging interest rate environment for regional depository institutions across the Midwest.
The acceleration in NII suggests that the bank is effectively leveraging its specialized lending niches to offset broader industry funding pressures. Investors should monitor whether this growth trajectory can be sustained as deposit betas potentially normalize in the coming quarters.
As reported in recent regulatory filings, PRK's efficiency ratio deteriorated to 55.8% in 2026Q1 from a low of 46.8% in 2025Q2, indicating that non-interest expenses are currently outpacing revenue growth and warranting closer scrutiny of the bank's fixed-cost structure in its expanding geographic footprint.
The recent uptick in the efficiency ratio may reflect the operational costs associated with the bank's expansion into the Carolinas. This trend suggests that management must balance aggressive market entry with disciplined expense control to maintain historical profitability levels.
Based on the provided income statement data, the provision for loan losses remained relatively contained at $2.7 million in 2026Q1, which appears to reflect a conservative credit culture despite the inherent risks associated with the bank's specialized aircraft financing and commercial real estate portfolios.
While current provision levels appear manageable, the low absolute dollar amount relative to total revenue suggests a reliance on historical loss models that may be tested in a downturn. Analysts should investigate if this provisioning level provides sufficient coverage for potential impairments in secondary market commercial real estate.
Financial statements indicate that non-interest fee income contributed $33.7 million in 2026Q1, representing 17.9% of total revenue, a figure that highlights the importance of the trust and wealth management segment in providing a recurring, non-rate-sensitive revenue stream for the institution's overall earnings profile.
The stability of this fee income is critical for offsetting the volatility inherent in the bank's interest-sensitive commercial lending business. Continued growth in AUM within the trust department appears essential to maintaining the bank's premium valuation relative to more transaction-heavy regional peers.
Quick answers to the most common questions about buying PRK stock.
Park National Corporation (PRK) is profitable, generating $180.1M in net income for the fiscal year ending 2025 with a net profit margin of 27.1%.
Park National Corporation (PRK) reported an operating income of $221.3M, resulting in an operating profit margin of 33.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Park National Corporation (PRK) generated $545.7M in gross profit for the year, representing a gross profit margin of 82.1%. This demonstrates the company's core pricing power and production efficiency.