Earnings release
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July 27, 2026 Exhibit 99.1 Park National Corporation reports financial results for second quarter and first half of 2026 NEWARK, Ohio ‒ Park National Corporation (Park) (NYSE American: PRK) today reported financial results for the second quarter and the first half of 2026. Park's board of directors declared a quarterly cash dividend of $1.10 per common share, payable on September 10, 2026, to common shareholders of record as of August 21, 2026. Park’s net income for the second quarter of 2026 was $58.8 million, a 22.1 percent increase from $48.1 million for the second quarter of 2025. The second quarter of 2026 included $4.1 million ($3.3 million after tax) in expenses related to the merger with First Citizens Bancshares, Inc. Second quarter 2026 net income per diluted common share was $3.23, compared to $2.97 for the second quarter of 2025. Park's net income for the first half of 2026 was $100.4 million, an 11.3 percent increase from $90.3 million for the first half of 2025. The first half of 2026 included $19.6 million ($15.5 million after tax) in merger related expenses. Net income per diluted common share for the first half of 2026 was $5.64, compared to $5.56 for the first half of 2025. “Our second quarter results reflect the strength of our relationship-based banking model, disciplined execution and commitment to serving customers and communities,” said Park CEO and President Matthew R. Miller. “Our teams are making exceptional progress toward the third-quarter First Citizens systems conversion, an important partnership milestone that will enhance our ability to serve customers and support our long-term growth strategy. I am grateful to our colleagues for their dedication, our customers for their trust and our shareholders for their continued confidence as we strive to increase value for all stakeholders.” Park’s total loans increased $1.68 billion, or 20.9 percent, during 2026. The increase to total loans included $1.58 billion in loans acquired through the First Citizens transaction. Park's total deposits increased $2.43 billion, or 29.4 percent, during 2026, with an increase of 27.8 percent including off balance sheet deposits. The increase in total deposits included $2.22 billion in deposits acquired through the First Citizens transaction. The combination of solid loan growth and steady deposits contributed to Park's success in 2026. “Our success begins with our colleagues. Their professionalism, teamwork and commitment to others reflect the very best of Park. While serving customers and communities each day, they are simultaneously working to ensure we execute the best conversion possible,” said Park Chairman David L. Trautman. “We look forward to fully welcoming our Tennessee colleagues and customers and deepening the relationships that help communities flourish.” Headquartered in Newark, Ohio, Park National Corporation has $12.7 billion in total assets (as of June 30, 2026). Park's banking operations are conducted through its subsidiary, The Park National Bank. Other Park subsidiaries are Scope Leasing, Inc. (d.b.a. Scope Aircraft Finance), Park Investments, Inc., Park National Holdings, Inc., First Citizens Properties, Inc., First Citizens Risk Management, Inc., and SE Property Holdings, LLC. Complete financial tables are listed below. Category: Earnings Media contact: Michelle Hamilton, 740.349.6014, media@parknationalbank.com Investor contact: Brady Burt, 740.322.6844, investor@parknationalbank.com Park National Corporation, 50 N. Third Street, Newark, Ohio 43055 Park National Corporation 50 N. Third Street, Newark, Ohio 43055 www.parknationalcorp.com
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SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 Park cautions that any forward-looking statements contained in this news release or made by management of Park are provided to assist in the understanding of anticipated future financial performance. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance. The forward-looking statements are based on management’s expectations and are subject to a number of risks and uncertainties, including those described in Park's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as updated by our filings with the SEC. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ include, without limitation: (1) the ability to execute our business plan successfully and manage strategic initiatives; (2) the impact of current and future economic and financial market conditions, including unemployment rates, inflation, interest rates, supply-demand imbalances, and geopolitical matters; (3) factors impacting the performance of our loan portfolio, including real estate values, financial health of borrowers, and loan concentrations; (4) the effects of monetary and fiscal policies, including interest rates, money supply, and inflation; (5) changes in federal, state, or local tax laws; (6) the impact of changes in governmental policy and regulatory requirements on our operations; (7) changes in consumer spending, borrowing, and saving habits; (8) changes in the performance and creditworthiness of customers, suppliers, and counterparties; (9) increased credit risk and higher credit losses due to loan concentrations; (10) volatility in mortgage banking income due to interest rates and demand; (11) adequacy of our internal controls and risk management programs; (12) competitive pressures among financial services organizations; (13) uncertainty regarding changes in banking regulations and other regulatory requirements; (14) our ability to meet heightened supervisory requirements and expectations; (15) the impact of changes in accounting policies and practices on our financial condition; (16) the reliability and accuracy of assumptions and estimates used in applying critical accounting estimates; (17) the potential for higher future credit losses due to changes in economic assumptions; (18) the ability to anticipate and respond to technological changes and our reliance on third-party vendors; (19) operational issues related to and capital spending necessitated by the implementation of information technology systems on which we are highly dependent; (20) the ability to secure confidential information and deliver products and services through computer systems and telecommunications networks; (21) the impact of security breaches or failures in operational systems; (22) the impact of geopolitical instability and trade policies on our operations including the imposition of tariffs and retaliatory tariffs; (23) the impact of changes in credit ratings of government debt and financial stability of sovereign governments; (24) the effect of stock market price fluctuations on our asset and wealth management businesses; (25) litigation and regulatory compliance exposure; (26) availability of earnings and excess capital for dividend declarations; (27) the impact of fraud, scams, and schemes on our business; (28) the impact of natural disasters, pandemics, and other emergencies on our operations; (29) potential deterioration of the economy due to financial, political, or other shocks; (30) impact of healthcare laws and potential changes on our costs and operations; (31) the ability to grow deposits and maintain adequate deposit levels, including by mitigating the effect of unexpected deposit outflows on our financial condition; (32) risks related to the completed acquisition of First Citizens, including the possibility that anticipated benefits are not realized as expected, including the realization of anticipated cost savings and revenue generation, difficulties integrating the two companies, and potential adverse reactions to customer, business, or employee relationships; and (33) other risk factors related to the banking industry. Park does not undertake, and specifically disclaims any obligation, to publicly release the results of any revisions that may be made to update any forward-looking statement to reflect the events or circumstances after the date on which the forward-looking statement was made, or reflect the occurrence of unanticipated events, except to the extent required by law. Park National Corporation 50 N. Third Street, Newark, Ohio 43055 www.parknationalcorp.com
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PARK NATIONAL CORPORATION Financial Highlights As of or for the three months ended June 30, 2026, March 31, 2026 and June 30, 2025 2026 2026 2025 Percent change 2Q '26 vs. (in thousands, except common share and per common share data and ratios) 2nd QTR 1st QTR 2nd QTR 1Q '26 2Q '25 INCOME STATEMENT: Net interest income $ 138,857 $ 125,780 $ 108,991 10.4 % 27.4 % Provision for credit losses 4,575 2,672 2,853 71.2 % 60.4 % Other income 39,540 33,728 32,186 17.2 % 22.8 % Other expense 100,960 105,159 78,977 (4.0) % 27.8 % Income before income taxes $ 72,862 $ 51,677 $ 59,347 41.0 % 22.8 % Income taxes 14,110 9,990 11,228 41.2 % 25.7 % Net income $ 58,752 $ 41,687 $ 48,119 40.9 % 22.1 % MARKET DATA: Earnings per common share - basic (a) $ 3.25 $ 2.40 $ 2.98 35.4 % 9.1 % Earnings per common share - diluted (a) 3.23 2.39 2.97 35.1 % 8.8 % Quarterly cash dividend declared per common share 1.10 1.10 1.07 — % 2.8 % Book value per common share at period end 95.58 93.93 80.55 1.8 % 18.7 % Market price per common share at period end 182.99 163.45 167.26 12.0 % 9.4 % Market capitalization at period end 3,305,561 2,957,806 2,688,093 11.8 % 23.0 % Weighted average common shares - basic (b) 18,085,919 17,381,922 16,129,951 4.1 % 12.1 % Weighted average common shares - diluted (b) 18,181,868 17,457,573 16,215,565 4.1 % 12.1 % Common shares outstanding at period end 18,064,161 18,096,089 16,071,347 (0.2)% 12.4 % PERFORMANCE RATIOS: (annualized) Return on average assets (a)(b) 1.84 % 1.43 % 1.92 % 28.7 % (4.2) % Return on average shareholders' equity (a)(b) 13.69 % 10.67 % 14.96 % 28.3 % (8.5) % Yield on loans 6.42 % 6.36 % 6.37 % 0.9 % 0.8 % Yield on investment securities 3.53 % 3.08 % 3.21 % 14.6 % 10.0 % Yield on money market instruments 4.09 % 3.95 % 4.34 % 3.5 % (5.8) % Yield on interest earning assets 5.96 % 5.90 % 5.95 % 1.0 % 0.2 % Cost of interest bearing deposits 1.70 % 1.62 % 1.73 % 4.9 % (1.7) % Cost of borrowings 2.45 % 2.08 % 3.92 % 17.8 % (37.5) % Cost of paying interest bearing liabilities 1.71 % 1.63 % 1.83 % 4.9 % (6.6) % Net interest margin (g) 4.81 % 4.80 % 4.75 % 0.2 % 1.3 % Efficiency ratio (g) 56.30 % 65.52 % 55.68 % (14.1) % 1.1 % OTHER DATA (NON-GAAP) AND BALANCE SHEET INFORMATION: Tangible book value per common share (d) $ 78.92 $ 77.21 $ 70.44 2.2 % 12.0 % Average interest earning assets 11,664,671 10,708,496 9,252,016 8.9 % 26.1 % Pre-tax, pre-provision net income (j) 77,437 54,349 62,200 42.5 % 24.5 % Note: Explanations for footnotes (a) - (k) are included at the end of the financial tables in the "Financial Reconciliations" section. Park National Corporation 50 N. Third Street, Newark, Ohio 43055 www.parknationalcorp.com
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PARK NATIONAL CORPORATION Financial Highlights (continued) As of or for the three months ended June 30, 2026, March 31, 2026 and June 30, 2025 Percent change 2Q '26 vs. (in thousands, except ratios) June 30, 2026 March 31, 2026 June 30, 2025 1Q '26 2Q '25 BALANCE SHEET: Investment securities $ 1,389,379 $ 1,366,955 $ 1,062,526 1.6 % 30.8 % Loans 9,731,356 9,667,260 7,963,221 0.7 % 22.2 % Allowance for credit losses 110,686 108,590 89,785 1.9 % 23.3 % Goodwill and other intangible assets 300,986 302,565 162,485 (0.5) % 85.2 % Other real estate owned (OREO) 19,836 24,458 638 (18.9) % N.M. Total assets 12,677,010 12,983,967 9,949,578 (2.4) % 27.4 % Total deposits 10,670,284 11,000,500 8,237,766 (3.0) % 29.5 % Borrowings 137,422 150,176 285,582 (8.5) % (51.9) % Total shareholders' equity 1,726,576 1,699,759 1,294,480 1.6 % 33.4 % Total equity 1,728,631 1,701,814 1,294,480 1.6 % 33.5 % Tangible equity (d) 1,425,590 1,397,194 1,131,995 2.0 % 25.9 % Total nonperforming loans 83,763 83,147 65,507 0.7 % 27.9 % Total nonperforming assets 103,599 107,605 66,145 (3.7) % 56.6 % ASSET QUALITY RATIOS: Loans as a % of period end total assets 76.76 % 74.46 % 80.04 % 3.1 % (4.1) % Total nonperforming loans as a % of period end loans 0.86 % 0.86 % 0.82 % — % 4.9 % Total nonperforming assets as a % of period end loans + OREO + other nonperforming assets 1.06 % 1.11 % 0.83 % (4.5) % 27.7 % Allowance for credit losses as a % of period end loans 1.14 % 1.12 % 1.13 % 1.8 % 0.9 % Net loan charge-offs $ 2,479 $ 2,628 $ 1,198 (5.7) % N.M. Annualized net loan charge-offs as a % of average loans (b) 0.10 % 0.12 % 0.06 % (16.7) % N.M. CAPITAL & LIQUIDITY: Total shareholders' equity / Period end total assets 13.62 % 13.09 % 13.01 % 4.0 % 4.7 % Tangible equity (d) / Tangible assets (f) 11.52 % 11.02 % 11.57 % 4.5 % (0.4) % Average shareholders' equity / Average assets (b) 13.46 % 13.39 % 12.80 % 0.5 % 5.2 % Average shareholders' equity / Average loans (b) 17.76 % 17.44 % 16.28 % 1.8 % 9.1 % Average loans / Average deposits (b) 89.75 % 90.91 % 94.37 % (1.3) % (4.9) % Note: Explanations for footnotes (a) - (k) are included at the end of the financial tables in the "Financial Reconciliations" section. Park National Corporation 50 N. Third Street, Newark, Ohio 43055 www.parknationalcorp.com
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PARK NATIONAL CORPORATION Financial Highlights Six months ended June 30, 2026 and June 30, 2025 2026 2025 (in thousands, except common share and per common share data and ratios) Six months endedJune 30 Six months endedJune 30 Percent change'26 vs '25 INCOME STATEMENT: Net interest income $ 264,637 $ 213,368 24.0 % Provision for credit losses 7,247 3,609 100.8 % Other income 73,268 57,932 26.5 % Other expense 206,119 157,141 31.2 % Income before income taxes $ 124,539 $ 110,550 12.7 % Income taxes 24,100 20,274 18.9 % Net income $ 100,439 $ 90,276 11.3 % MARKET DATA: Earnings per common share - basic (a) $ 5.66 $ 5.59 1.3 % Earnings per common share - diluted (a) 5.64 5.56 1.4 % Quarterly cash dividend declared per common share 2.20 2.14 2.8 % Weighted average common shares - basic (b) 17,733,921 16,144,647 9.8 % Weighted average common shares - diluted (b) 17,819,777 16,227,150 9.8 % PERFORMANCE RATIOS: (annualized) Return on average assets (a)(b) 1.64 % 1.81 % (9.4) % Return on average shareholders' equity (a)(b) 12.25 % 14.22 % (13.9) % Yield on loans 6.39 % 6.32 % 1.1 % Yield on investment securities 3.32 % 3.23 % 2.8 % Yield on money market instruments 4.03 % 4.40 % (8.4) % Yield on interest earning assets 5.93 % 5.90 % 0.5 % Cost of interest bearing deposits 1.66 % 1.75 % (5.1) % Cost of borrowings 2.28 % 3.93 % (42.0) % Cost of paying interest bearing liabilities 1.67 % 1.84 % (9.2) % Net interest margin (g) 4.80 % 4.69 % 2.3 % Efficiency ratio (g) 60.65 % 57.65 % 5.2 % ASSET QUALITY RATIOS: Net loan charge-offs $ 5,107 $ 1,790 185.3 % Net loan charge-offs as a % of average loans (b) 0.11 % 0.05 % 120.0 % CAPITAL & LIQUIDITY Average shareholders' equity / Average Assets (b) 13.42 % 12.72 % 5.5 % Average shareholders' equity / Average loans (b) 17.60 % 16.25 % 8.3 % Average loans / Average deposits (b) 90.30 % 93.96 % (3.9) % OTHER DATA (NON-GAAP) AND BALANCE SHEET INFORMATION: Average interest earning assets 11,189,252 9,231,316 21.2 % Pre-tax, pre-provision net income (j) 131,786 114,159 15.4 % Note: Explanations for footnotes (a) - (k) are included at the end of the financial tables in the "Financial Reconciliations" section. Park National Corporation 50 N. Third Street, Newark, Ohio 43055 www.parknationalcorp.com
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PARK NATIONAL CORPORATION Consolidated Statements of Income Three Months Ended Six Months Ended June 30 June 30 (in thousands, except share and per share data) 2026 2025 2026 2025 Interest income: Interest and fees on loans $ 154,692 $ 125,543 $ 296,734 $ 246,191 Interest on debt securities: Taxable 9,320 6,693 15,164 13,823 Tax-exempt 2,123 1,503 4,349 2,772 Other interest income 6,192 2,757 10,857 5,910 Total interest income 172,327 136,496 327,104 268,696 Interest expense: Interest on deposits: Demand and savings deposits 23,517 19,055 44,366 37,491 Time deposits 9,122 5,821 16,654 12,591 Interest on borrowings 831 2,629 1,447 5,246 Total interest expense 33,470 27,505 62,467 55,328 Net interest income 138,857 108,991 264,637 213,368 Provision for credit losses 4,575 2,853 7,247 3,609 Net interest income after provision for credit losses 134,282 106,138 257,390 209,759 Other income 39,540 32,186 73,268 57,932 Other expense 100,960 78,977 206,119 157,141 Income before income taxes 72,862 59,347 124,539 110,550 Income taxes 14,110 11,228 24,100 20,274 Net income $ 58,752 $ 48,119 $ 100,439 $ 90,276 Per common share: Net income - basic $ 3.25 $ 2.98 $ 5.66 $ 5.59 Net income - diluted $ 3.23 $ 2.97 $ 5.64 $ 5.56 Weighted average common shares - basic 18,085,919 16,129,951 17,733,921 16,144,647 Weighted average common shares - diluted 18,181,868 16,215,565 17,819,777 16,227,150 Cash dividends declared: Quarterly dividend $ 1.10 $ 1.07 $ 2.20 $ 2.14 Park National Corporation 50 N. Third Street, Newark, Ohio 43055 www.parknationalcorp.com
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PARK NATIONAL CORPORATION Consolidated Balance Sheets (in thousands, except share data) June 30, 2026 December 31, 2025 Assets Cash and due from banks $ 144,485 $ 137,239 Money market instruments 435,824 96,274 Investment securities 1,389,379 802,142 Loans 9,731,356 8,051,242 Allowance for credit losses (110,686) (92,973) Loans, net 9,620,670 7,958,269 Bank premises and equipment, net 96,430 61,627 Goodwill and other intangible assets 300,986 161,990 Other real estate owned 19,836 729 Other assets 669,400 586,743 Total assets $ 12,677,010 $ 9,805,013 Liabilities and Equity Deposits: Noninterest bearing $ 3,084,889 $ 2,656,093 Interest bearing 7,585,395 5,587,620 Total deposits 10,670,284 8,243,713 Borrowings 137,422 81,711 Other liabilities 140,673 126,796 Total liabilities $ 10,948,379 $ 8,452,220 Equity: Preferred shares (200,000 shares authorized; no shares outstanding at June 30, 2026 or December 31, 2025) $ — $ — Common shares (No par value; 40,000,000 shares authorized at June 30, 2026 and December 31, 2025; 19,611,235 shares issued at June 30, 2026 and 17,623,104 at December 31, 2025) 784,614 465,032 Accumulated other comprehensive loss, net of taxes (16,901) (12,739) Retained earnings 1,128,448 1,067,823 Treasury shares (1,547,074 shares at June 30, 2026 and 1,544,842 shares at December 31, 2025) (169,585) (167,323) Total shareholders' equity $ 1,726,576 $ 1,352,793 Non-controlling interest in consolidated subsidiary 2,055 — Total equity $ 1,728,631 $ 1,352,793 Total liabilities and equity $ 12,677,010 $ 9,805,013 Park National Corporation 50 N. Third Street, Newark, Ohio 43055 www.parknationalcorp.com
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PARK NATIONAL CORPORATION Consolidated Average Balance Sheets Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2026 2025 2026 2025 Assets Cash and due from banks $ 140,993 $ 114,619 $ 190,458 $ 120,889 Money market instruments 607,263 254,697 543,319 270,767 Investment securities 1,375,215 1,061,693 1,265,398 1,065,635 Loans 9,691,723 7,922,263 9,392,367 7,877,994 Allowance for credit losses (110,075) (88,773) (107,574) (88,799) Loans, net 9,581,648 7,833,490 9,284,793 7,789,195 Bank premises and equipment, net 94,820 65,800 88,245 67,387 Goodwill and other intangible assets 301,545 162,664 274,431 162,800 Other real estate owned 22,585 40 18,504 477 Other assets 663,340 585,458 651,667 584,975 Total assets $ 12,787,409 $ 10,078,461 $ 12,316,815 $ 10,062,125 Liabilities and Equity Deposits: Noninterest bearing $ 3,079,994 $ 2,626,232 $ 2,984,059 $ 2,602,666 Interest bearing 7,718,858 5,768,900 7,416,819 5,781,338 Total deposits 10,798,852 8,395,132 10,400,878 8,384,004 Borrowings 136,276 269,088 128,218 269,170 Other liabilities 129,148 124,200 132,559 128,746 Total liabilities $ 11,064,276 $ 8,788,420 $ 10,661,655 $ 8,781,920 Equity: Preferred shares $ — $ — $ — $ — Common shares 783,372 460,238 730,253 462,132 Accumulated other comprehensive loss, net of taxes (14,314) (34,291) (12,544) (37,101) Retained earnings 1,117,850 1,022,323 1,102,302 1,009,930 Treasury shares (165,830) (158,229) (166,554) (154,756) Total shareholders' equity $ 1,721,078 $ 1,290,041 $ 1,653,457 $ 1,280,205 Non-controlling interest in consolidated subsidiary 2,055 — 1,703 — Total equity $ 1,723,133 $ 1,290,041 $ 1,655,160 $ 1,280,205 Total liabilities and equity $ 12,787,409 $ 10,078,461 $ 12,316,815 $ 10,062,125 Park National Corporation 50 N. Third Street, Newark, Ohio 43055 www.parknationalcorp.com
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PARK NATIONAL CORPORATION Consolidated Statements of Income - Linked Quarters 2026 2026 2025 2025 2025 (in thousands, except per share data) 2nd QTR 1st QTR 4th QTR 3rd QTR 2nd QTR Interest income: Interest and fees on loans $ 154,692 $ 142,042 $ 127,443 $ 126,648 $ 125,543 Interest on debt securities: Taxable 9,320 5,844 4,267 5,644 6,693 Tax-exempt 2,123 2,226 1,487 1,520 1,503 Other interest income 6,192 4,665 3,695 5,140 2,757 Total interest income 172,327 154,777 136,892 138,952 136,496 Interest expense: Interest on deposits: Demand and savings deposits 23,517 20,849 18,431 20,499 19,055 Time deposits 9,122 7,532 5,267 5,501 5,821 Interest on borrowings 831 616 268 1,935 2,629 Total interest expense 33,470 28,997 23,966 27,935 27,505 Net interest income 138,857 125,780 112,926 111,017 108,991 Provision for credit losses 4,575 2,672 3,849 4,030 2,853 Net interest income after provision for credit losses 134,282 123,108 109,077 106,987 106,138 Other income 39,540 33,728 31,375 30,574 32,186 Other expense 100,960 105,159 87,777 79,463 78,977 Income before income taxes 72,862 51,677 52,675 58,098 59,347 Income taxes 14,110 9,990 10,036 10,940 11,228 Net income $ 58,752 $ 41,687 $ 42,639 $ 47,158 $ 48,119 Per common share: Net income - basic $ 3.25 $ 2.40 $ 2.65 $ 2.93 $ 2.98 Net income - diluted $ 3.23 $ 2.39 $ 2.63 $ 2.92 $ 2.97 Park National Corporation 50 N. Third Street, Newark, Ohio 43055 www.parknationalcorp.com
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PARK NATIONAL CORPORATION Detail of other income and other expense - Linked Quarters 2026 2026 2025 2025 2025 (in thousands) 2nd QTR 1st QTR 4th QTR 3rd QTR 2nd QTR Other income: Income from fiduciary activities $ 13,434 $ 12,343 $ 11,839 $ 11,315 $ 11,622 Service charges on deposit accounts 3,790 3,348 2,552 2,578 2,514 Other service income 4,124 3,686 4,099 3,716 3,731 Debit card fee income 8,107 6,973 6,493 6,604 6,607 Bank owned life insurance income 2,125 1,707 1,777 1,559 1,762 ATM fees 450 380 333 371 367 Gain (loss) on sale of debt securities, net — 1,084 (2,250) — — Gain (loss) on equity securities, net 4,555 799 3,595 (549) 2,480 Other components of net periodic benefit income 2,449 2,492 2,344 2,344 2,344 Miscellaneous 506 916 593 2,636 759 Total other income $ 39,540 $ 33,728 $ 31,375 $ 30,574 $ 32,186 Other expense: Salaries $ 46,023 $ 45,577 $ 39,315 $ 38,644 $ 38,560 Employee benefits 11,918 11,692 10,846 9,892 9,108 Occupancy expense 4,027 4,572 3,349 3,242 3,269 Furniture and equipment expense 3,014 2,517 2,007 2,219 2,234 Data processing fees 15,113 13,141 12,188 11,531 11,021 Professional fees and services 8,731 16,828 9,275 7,475 7,395 Marketing 1,550 1,556 1,744 1,507 1,295 Insurance 1,986 2,074 1,534 1,468 1,667 Communication 1,400 1,425 1,137 1,239 941 State tax expense 1,529 1,367 1,181 1,182 1,350 Amortization of intangible assets 2,072 1,279 247 248 273 Foundation contributions — — 1,000 — — Miscellaneous 3,597 3,131 3,954 816 1,864 Total other expense $ 100,960 $ 105,159 $ 87,777 $ 79,463 $ 78,977 Park National Corporation 50 N. Third Street, Newark, Ohio 43055 www.parknationalcorp.com
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PARK NATIONAL CORPORATION Asset Quality Information Year ended December 31, (in thousands, except ratios) June 30, 2026 March 31, 2026 2025 2024 2023 2022 2021 Allowance for credit losses: Allowance for credit losses, beginning of period $ 108,590 $ 92,973 $ 87,966 $ 83,745 $ 85,379 $ 83,197 $ 85,675 Cumulative change in accounting principle; adoption ofASU 2022-02 in 2023 and ASU 2016-13 in 2021 — — — — 383 — 6,090 First Citizens acquisition - Day 1 ACL — 15,573 — — — — — Charge-offs 4,470 4,440 16,624 18,334 10,863 9,133 5,093 Recoveries 1,991 1,812 10,143 8,012 5,942 6,758 8,441 Net charge-offs (recoveries) 2,479 2,628 6,481 10,322 4,921 2,375 (3,348) Provision for (recovery of) credit losses 4,575 2,672 11,488 14,543 2,904 4,557 (11,916) Allowance for credit losses, end of period $ 110,686 $ 108,590 $ 92,973 $ 87,966 $ 83,745 $ 85,379 $ 83,197 General reserve trends: Allowance for credit losses, end of period $ 110,686 $ 108,590 $ 92,973 $ 87,966 $ 83,745 $ 85,379 $ 83,197 Specific reserves on individually evaluated loans - certainaccruing purchased credit deteriorated ("PCD") loans — — — — — — — Specific reserves on individually evaluated loans - accrual — — — — — — 42 Specific reserves on individually evaluated loans -nonaccrual 4,424 3,041 739 1,299 4,983 3,566 1,574 General reserves on collectively evaluated loans $ 106,262 $ 105,549 $ 92,234 $ 86,667 $ 78,762 $ 81,813 $ 81,581 Total loans $ 9,731,356 $ 9,667,260 $ 8,051,242 $ 7,817,128 $ 7,476,221 $ 7,141,891 $ 6,871,122 Individually evaluated - certain accruing PCD loans (PCIloans for years 2020 and prior) — 1,943 1,990 2,174 2,835 4,653 7,149 Individually evaluated loans - accrual (k) 11,535 14,792 18,365 15,290 — 11,477 17,517 Individually evaluated loans - nonaccrual 57,662 60,208 46,924 53,149 45,215 66,864 56,985 Collectively evaluated loans $ 9,662,159 $ 9,590,317 $ 7,983,963 $ 7,746,515 $ 7,428,171 $ 7,058,897 $ 6,789,471 Asset Quality Ratios: Net charge-offs (recoveries) as a % of average loans(annualized) 0.10 % 0.12 % 0.08 % 0.14 % 0.07 % 0.03 % (0.05) % Allowance for credit losses as a % of period end loans 1.14 % 1.12 % 1.15 % 1.13 % 1.12 % 1.20 % 1.21 % General reserve as a % of collectively evaluated loans 1.10 % 1.10 % 1.16 % 1.12 % 1.06 % 1.16 % 1.20 % Nonperforming assets: Nonaccrual loans $ 81,249 $ 80,548 $ 66,515 $ 68,178 $ 60,259 $ 79,696 $ 72,722 Accruing troubled debt restructurings (for years 2022 andprior) (k) N.A. N.A. N.A. N.A. N.A. 20,134 28,323 Loans past due 90 days or more 2,514 2,599 2,738 1,754 859 1,281 1,607 Total nonperforming loans $ 83,763 $ 83,147 $ 69,253 $ 69,932 $ 61,118 $ 101,111 $ 102,652 Other real estate owned 19,836 24,458 729 938 983 1,354 775 Other nonperforming assets — — — — — — 2,750 Total nonperforming assets $ 103,599 $ 107,605 $ 69,982 $ 70,870 $ 62,101 $ 102,465 $ 106,177 Percentage of nonaccrual loans to period end loans 0.83 % 0.83 % 0.83 % 0.87 % 0.81 % 1.12 % 1.06 % Percentage of nonperforming loans to period end loans 0.86 % 0.86 % 0.86 % 0.89 % 0.82 % 1.42 % 1.49 % Percentage of nonperforming assets to period end loans 1.06 % 1.11 % 0.87 % 0.91 % 0.83 % 1.43 % 1.55 % Percentage of nonperforming assets to period end total assets 0.82 % 0.83 % 0.71 % 0.72 % 0.63 % 1.04 % 1.11 % Note: Explanations for footnotes (a) - (k) are included at the end of the financial tables in the "Financial Reconciliations" section. Park National Corporation 50 N. Third Street, Newark, Ohio 43055 www.parknationalcorp.com
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PARK NATIONAL CORPORATION Asset Quality Information (continued) Year ended December 31, (in thousands, except ratios) June 30, 2026 March 31, 2026 2025 2024 2023 2022 2021 New nonaccrual loan information: Nonaccrual loans, beginning of period $ 80,548 $ 66,515 $ 68,178 $ 60,259 $ 79,696 $ 72,722 $ 117,368 Acquired nonaccrual loans — 4,506 — — — — — New nonaccrual loans 21,099 23,215 87,482 65,535 48,280 64,918 38,478 Resolved nonaccrual loans 20,398 13,688 89,145 57,616 67,717 57,944 83,124 Nonaccrual loans, end of period $ 81,249 $ 80,548 $ 66,515 $ 68,178 $ 60,259 $ 79,696 $ 72,722 Individually evaluated nonaccrual commercial loan portfolio information (period end): Unpaid principal balance $ 57,939 $ 64,890 $ 51,664 $ 58,158 $ 47,564 $ 68,639 $ 57,609 Prior charge-offs 277 4,682 4,740 5,009 2,349 1,775 624 Remaining principal balance 57,662 60,208 46,924 53,149 45,215 66,864 56,985 Specific reserves 4,424 3,041 739 1,299 4,983 3,566 1,574 Book value, after specific reserves $ 53,238 $ 57,167 $ 46,185 $ 51,850 $ 40,232 $ 63,298 $ 55,411 Note: Explanations for footnotes (a) - (k) are included at the end of the financial tables in the "Financial Reconciliations" section. Park National Corporation 50 N. Third Street, Newark, Ohio 43055 www.parknationalcorp.com
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PARK NATIONAL CORPORATION Financial Reconciliations NON-GAAP RECONCILIATIONS THREE MONTHS ENDED SIX MONTHS ENDED (in thousands, except share and per share data) June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Net interest income $ 138,857 $ 125,780 $ 108,991 $ 264,637 $ 213,368 less purchase accounting accretion 2,147 812 168 2,959 343 less interest income on former Vision Bank relationships — 396 1,006 396 2,025 Net interest income - adjusted $ 136,710 $ 124,572 $ 107,817 $ 261,282 $ 211,000 Provision for credit losses $ 4,575 $ 2,672 $ 2,853 $ 7,247 $ 3,609 less recoveries on former Vision Bank relationships — (7) (717) (7) (1,814) Provision for credit losses - adjusted $ 4,575 $ 2,679 $ 3,570 $ 7,254 $ 5,423 Other income $ 39,540 $ 33,728 $ 32,186 $ 73,268 $ 57,932 less gain on sale of debt securities, net — 1,084 — 1,084 — less impact of strategic initiatives 148 — 18 148 (896) less Vision related OREO valuation adjustments, net — 304 — 304 (229) less other income related to former Vision Bank relationships — (202) — (202) 3 Other income - adjusted $ 39,392 $ 32,542 $ 32,168 $ 71,934 $ 59,054 Other expense $ 100,960 $ 105,159 $ 78,977 $ 206,119 $ 157,141 less intangible asset amortization 2,072 1,279 273 3,351 547 less merger-related expenses related to First Citizens acquisition 4,118 15,474 — 19,592 — less impact of strategic initiatives (71) 362 — 291 — less purchase accounting amortization 36 20 — 56 — less direct expenses related to collection of payments on former Vision Bank loan relationships — 194 239 194 515 Other expense - adjusted $ 94,805 $ 87,830 $ 78,465 $ 182,635 $ 156,079 Tax effect of adjustments to net income identified above (i) $ 811 $ 3,135 $ (293) $ 3,945 $ (420) Net income - reported $ 58,752 $ 41,687 $ 48,119 $ 100,439 $ 90,276 Net income - adjusted (h) $ 61,801 $ 53,480 $ 47,015 $ 115,282 $ 88,698 Diluted earnings per common share $ 3.23 $ 2.39 $ 2.97 $ 5.64 $ 5.56 Diluted earnings per common share, adjusted (h) $ 3.40 $ 3.06 $ 2.90 $ 6.47 $ 5.47 Annualized return on average assets (a)(b) 1.84 % 1.43 % 1.92 % 1.64 % 1.81 % Annualized return on average assets, adjusted(a)(b)(h) 1.94 % 1.83 % 1.87 % 1.89 % 1.78 % Annualized return on average tangible assets (a)(b)(e) 1.89 % 1.46 % 1.95 % 1.68 % 1.84 % Annualized return on average tangible assets, adjusted (a)(b)(e)(h) 1.99 % 1.87 % 1.90 % 1.93 % 1.81 % Annualized return on average shareholders' equity (a)(b) 13.69 % 10.67 % 14.96 % 12.25 % 14.22 % Annualized return on average shareholders' equity, adjusted (a)(b)(h) 14.40 % 13.68 % 14.62 % 14.06 % 13.97 % Annualized return on average tangible equity (a)(b)(c) 16.60 % 12.63 % 17.12 % 14.69 % 16.29 % Annualized return on average tangible equity, adjusted (a)(b)(c)(h) 17.46 % 16.21 % 16.73 % 16.86 % 16.01 % Efficiency ratio (g) 56.30 % 65.52 % 55.68 % 60.65 % 57.65 % Efficiency ratio, adjusted (g)(h) 53.55 % 55.55 % 55.78 % 54.50 % 57.52 % Annualized net interest margin (g) 4.81 % 4.80 % 4.75 % 4.80 % 4.69 % Annualized net interest margin, adjusted (g)(h) 4.73 % 4.76 % 4.70 % 4.74 % 4.64 % Note: Explanations for footnotes (a) - (k) are included at the end of the financial tables in the "Financial Reconciliations" section. Park National Corporation 50 N. Third Street, Newark, Ohio 43055 www.parknationalcorp.com
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PARK NATIONAL CORPORATION Financial Reconciliations (continued) (a) Reported measure uses net income (b) Averages are for the three months ended June 30, 2026, March 31, 2026, and June 30, 2025 and the six months ended June 30, 2026 and June 30, 2025, as appropriate (c) Net income for each period divided by average tangible equity during the period. Average tangible equity equals average shareholders' equity during the applicable period less average goodwill and other intangible assets duringthe applicable period. RECONCILIATION OF AVERAGE SHAREHOLDERS' EQUITY TO AVERAGE TANGIBLE EQUITY: THREE MONTHS ENDED SIX MONTHS ENDED June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 AVERAGE SHAREHOLDERS' EQUITY $ 1,721,078 $ 1,585,084 $ 1,290,041 $ 1,653,457 $ 1,280,205 Less: Average goodwill and other intangible assets 301,545 247,015 162,664 274,431 162,800 AVERAGE TANGIBLE EQUITY $ 1,419,533 $ 1,338,069 $ 1,127,377 $ 1,379,026 $ 1,117,405 (d) Tangible equity divided by common shares outstanding at period end. Tangible equity equals total shareholders' equity less goodwill and other intangible assets, in each case at the end of the period. RECONCILIATION OF TOTAL SHAREHOLDERS' EQUITY TO TANGIBLE EQUITY: June 30, 2026 March 31, 2026 June 30, 2025 TOTAL SHAREHOLDERS' EQUITY $ 1,726,576 $ 1,699,759 $ 1,294,480 Less: Goodwill and other intangible assets 300,986 302,565 162,485 TANGIBLE EQUITY $ 1,425,590 $ 1,397,194 $ 1,131,995 (e) Net income for each period divided by average tangible assets during the period. Average tangible assets equal average assets less average goodwill and other intangible assets, in each case during the applicable period. RECONCILIATION OF AVERAGE ASSETS TO AVERAGE TANGIBLE ASSETS THREE MONTHS ENDED SIX MONTHS ENDED June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 AVERAGE ASSETS $ 12,787,409 $ 11,840,992 $ 10,078,461 $ 12,316,815 $ 10,062,125 Less: Average goodwill and other intangible assets 301,545 247,015 162,664 274,431 162,800 AVERAGE TANGIBLE ASSETS $ 12,485,864 $ 11,593,977 $ 9,915,797 $ 12,042,384 $ 9,899,325 (f) Tangible equity divided by tangible assets. Tangible assets equal total assets less goodwill and other intangible assets, in each case at the end of the period. RECONCILIATION OF TOTAL ASSETS TO TANGIBLE ASSETS: June 30, 2026 March 31, 2026 June 30, 2025 TOTAL ASSETS $ 12,677,010 $ 12,983,967 $ 9,949,578 Less: Goodwill and other intangible assets 300,986 302,565 162,485 TANGIBLE ASSETS $ 12,376,024 $ 12,681,402 $ 9,787,093 Park National Corporation 50 N. Third Street, Newark, Ohio 43055 www.parknationalcorp.com
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PARK NATIONAL CORPORATION Financial Reconciliations (continued) (g) Efficiency ratio is calculated by dividing total other expense by the sum of fully taxable equivalent net interest income and other income. Fully taxable equivalent net interest income reconciliation is shown assuming a 21%corporate federal income tax rate. Additionally, net interest margin is calculated on a fully taxable equivalent basis by dividing fully taxable equivalent net interest income by average interest earning assets, in each case during theapplicable period. RECONCILIATION OF FULLY TAXABLE EQUIVALENT NET INTEREST INCOME TO NET INTEREST INCOME THREE MONTHS ENDED SIX MONTHS ENDED June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Interest income $ 172,327 $ 154,777 $ 136,496 $ 327,104 $ 268,696 Fully taxable equivalent adjustment 933 985 675 1,918 1,282 Fully taxable equivalent interest income $ 173,260 $ 155,762 $ 137,171 $ 329,022 $ 269,978 Interest expense 33,470 28,997 27,505 62,467 55,328 Fully taxable equivalent net interest income $ 139,790 $ 126,765 $ 109,666 $ 266,555 $ 214,650 (h) Adjustments to net income for each period presented are detailed in the non-GAAP reconciliations of net interest income, provision for credit losses, other income, other expense and tax effect of adjustments to net income. (i) The tax effect of adjustments to net income was calculated assuming a 21% corporate federal income tax rate. (j) Pre-tax, pre-provision ("PTPP") net income is calculated as net income, plus income taxes, plus the provision for credit losses, in each case during the applicable period. PTPP net income is a common industry metric utilized incapital analysis and review. PTPP is used to assess the operating performance of Park while excluding the impact of the provision for credit losses. RECONCILIATION OF PRE-TAX, PRE-PROVISION NET INCOME THREE MONTHS ENDED SIX MONTHS ENDED June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Net income $ 58,752 $ 41,687 $ 48,119 $ 100,439 $ 90,276 Plus: Income taxes 14,110 9,990 11,228 24,100 20,274 Plus: Provision for credit losses 4,575 2,672 2,853 7,247 3,609 Pre-tax, pre-provision net income $ 77,437 $ 54,349 $ 62,200 $ 131,786 $ 114,159 (k) Effective January 1, 2023, Park adopted Accounting Standards Update ("ASU") 2022-02. Among other things, this ASU eliminated the concept of troubled debt restructurings ("TDRs"). As a result of the adoption of this ASUand elimination of the concept of TDRs, total nonperforming loans ("NPLs") and total nonperforming assets ("NPAs") each decreased by $20.1 million effective January 1, 2023. Additionally, as a result of the adoption of this ASU,accruing individually evaluated loans decreased by $11.5 million effective January 1, 2023. Park National Corporation 50 N. Third Street, Newark, Ohio 43055 www.parknationalcorp.com