Park National ( (PRK) ) has issued an update.
Park National Corporation reported a notable increase in net income for both the three-month and nine-month periods ending September 30, 2024, compared to 2023, with substantial gains in pre-tax income and interest income from loans. Despite a rise in credit loss provisions due to Hurricane Helene, Park benefited from a pension settlement gain and increased one-time bonuses and charitable contributions. The company’s financial health remains strong, reflecting strategic management of loan growth and deposit balances, appealing to investors eyeing sustained profitability in challenging economic conditions.
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