PRK — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-11

• As noted above, in calculating the ACL, management weighs different scenarios, including a baseline (most likely) scenario and an adverse scenario. At March 31, 2026, management applied a 50% weighting to the baseline scenario and applied a 50% weighting to the adverse scenario. To create hypothetic…

• 2026 if only the adverse scenario was used. Excluding consideration of qualitative adjustments, a corresponding $32.5 million decrease in Park's ACL would occur in a hypothetical scenario if only the baseline (most likely) scenario was used.

• Business Combinations: Business combinations are accounted for by applying the acquisition method. As of acquisition date, the identifiable assets acquired and liabilities assumed are measured at fair value and recognized separately from goodwill. The calculation of the core deposit intangible asset…

• The valuation of core deposit intangibles acquired in business combinations is a critical accounting estimate due to the significant judgment required in estimating deposit attrition, discount rates, the cost of alternative funding sources, and net maintenance costs. These assumptions directly affec…

• The valuation of loans acquired in a business combination is a critical accounting estimate due to the significant judgment required in estimating expected cash flows, credit losses, and discount rates. Following adoption of ASU 2025‑08, acquired loans are accounted for using a gross‑up approach, wi…

Text removed vs the prior filing · source: 10-Q · 2025-11-03

• As noted above, in calculating the ACL, management weighs different scenarios, including a baseline (most likely) scenario and an adverse scenario. At September 30, 2025, management applied a 50% weighting to the baseline scenario and applied a 50% weighting to the adverse scenario. To create hypoth…

• On October 27, 2025, Park entered into an Agreement and Plan of Merger (the “Merger Agreement”) with First Citizens Bancshares, Inc., a Tennessee corporation (“First Citizens”). The Merger Agreement provides that, upon the terms and subject to the conditions set forth therein, First Citizens will me…

• As of September 30, 2025, First Citizens had $2.6 billion in assets. After the Merger, Park will have more than 100 branches in Kentucky, Ohio, the Carolinas and Tennessee.

• Under the terms and subject to the conditions of the Merger Agreement, which has been unanimously approved by the Boards of Directors of both companies, each share of common stock of First Citizens that is issued and outstanding immediately prior to the Merger, will be converted into the right to re…

• The Merger is expected to close in the first quarter of 2026, subject to customary closing conditions, regulatory approvals and approval of First Citizens’ shareholders.

Text added vs the prior filing · source: 10-Q · 2026-05-11

• On page 67 of Park’s 2025 Form 10-K, management reported that at December 31, 2025, the earnings simulation model projected that net income would increase by 1.7% using a rising interest rate scenario and decrease by 2.1% using a declining interest rate scenario over the next year. At March 31, 2026…

• Report on Form 10-Q). Based on that evaluation, Park’s Chairman of the Board and Chief Executive Officer and Park’s Chief Financial Officer, Secretary and Treasurer have concluded that:

Text removed vs the prior filing · source: 10-Q · 2025-11-03

• On page 67 of Park’s 2024 Form 10-K, management reported that at December 31, 2024, the earnings simulation model projected that net income would increase by 1.3% using a rising interest rate scenario and decrease by 1.3% using a declining interest rate scenario over the next year. At September 30, …

Text added vs the prior filing · source: 10-Q · 2026-05-11

• Report on Form 10-Q). Based on that evaluation, Park’s Chairman of the Board and Chief Executive Officer and Park’s Chief Financial Officer, Secretary and Treasurer have concluded that: