revenue $211.9M, net income $58.8M. Park National completes First Citizens acquisition, growing assets 22.1% and deposits 30%

Filed August 7, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 4, 2025 · ~2 min read

Key Changes

• high

  First Citizens acquisition closed Feb 1, 2026, adding $1.59B loans, $2.16B deposits, $104M goodwill, and creating a 40% non-controlling interest held by former First Citizens insiders. Total assets grew $2.88B (29.4%) to $12.68B.

  MD&A: First Citizens acquisition verify on EDGAR →
• high

  Net interest income rose 24.0% to $264.6M for the six months, driven by the acquired loan portfolio and higher earning-asset yields. Net income increased 11.2% to $100.4M despite $19.6M in one-time merger-related expenses.

  MD&A: Net interest income verify on EDGAR →
• high

  EPS grew only 1% (from $5.59 to $5.66) for the six months despite 11% net income growth, as Park issued 2.0M shares to First Citizens shareholders, increasing weighted average shares outstanding 10%.

  Notes: Earnings per share verify on EDGAR →