Park National Corporation income down; bank loans grow

• Park National Corp. reported $38.7 million of income, down from $40.1 million in first half of 2015.
• Park National Bank's first half net income was $42.8 million, up from $40.5 million a year ago.

NEWARK - Park National Corporation reported a 3.5 percent decrease in income during the first half of the year compared with 2015, but subsidiary Park National Bank's income and consumer loans have increased so far this year.

The corporation's second quarter report showed net income of $20 million for the second quarter, a 4.9 percent decrease from last year, and $38.7 million for the first half, down from $40.1 million in 2015.

Park's board of directors declared a quarterly cash dividend of $0.94 per common share, payable Sept. 9 to common shareholders of record as of Aug. 19.

Park National Bank generated a net income of $21.1 million in the second quarter, down slightly from 2015, but its first half net income was $42.8 million, up from $40.5 million a year ago.

"Advancements in our consumer lending operations have helped us respond to requests even more swiftly and thoroughly," Park CEO David Trautman said. "The service style of our local lenders continues to be a driving of growth for our organization, and we look forward to the rest of 2016."

In the first half of 2016, Park National Bank grew consumer loans by $46.5 million and commercial loans by $24 million. Total loans for the bank were $5.09 billion on June 30, up $227.7 million from $4.86 billion on June 30, 2015.

The bank had total assets of $7.4 billion on June 30, rising from $7.2 billion on both June 30, 2015, and Dec. 31, 2015.