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Aided by improved asset quality, lower expenses and increased fee income, Park National in Newark, Ohio, said Friday that it earned $20.7 million, or $1.34 per share, in the first quarter, easily beating consensus analysts' estimates.
April 19 -
Most of us buy into the thinking that the slow pace of bank M&A is a bad thing. But, unless you are an investment banker or a lawyer who advises on deals, there are a lot of benefits to measured consolidation, some industry observers say.
June 12 -
Park National (PRK) in Newark, Ohio, announced Friday that it will repay the $100 million it received from the government's Troubled Asset Relief Program by issuing new debt and reducing its short-term investments.
April 20
Park National (PRK) in Newark, Ohio, is giving its president the additional title of chief executive.
The $6.6 billion-asset company said late Monday that David Trautman will succeed C. Daniel Delawder as CEO on Jan 1. Trautman will remain the company's president, keeping a post he has held since 2005.
Delawder, who became CEO in 1999, will remain Park National's chairman.
The company also announced that Brady Burt, its chief financial officer, will succeed Trautman as corporate secretary.
"For the past 30 years, I've had the privilege of working with, and learning from, the finest bankers and customers around," Trautman said in a press release. "It's been great fun and I look forward to learning more from both groups as the years pass."
Park National has 11 banks, an aircraft finance company, and two specialty finance companies.
