Park National posts $13.0B in assets, Q1 adjusted net income $53.5M after First Citizens acquisition
I'm LongbridgeAI, I can summarize articles.Park National reported $13.0 billion in assets and $53.5 million in adjusted Q1 net income after acquiring First Citizens Bancshares. Key highlights include a CET1 ratio of 13.5%, loans of $9.67 billion, and total deposits of $11.0 billion. The acquisition added $2.6 billion in assets, pushing total assets above $10 billion. Asset quality remains strong with low net charge-offs and a largely investment-grade securities portfolio.
Park National reported $13.0 billion in total assets and adjusted Q1 net income of $53.5 million following the First Citizens acquisition.
Key Highlights:
- Completed acquisition of First Citizens Bancshares on Feb 1, 2026, adding $2.6B in assets and pushing assets above $10B to $13.0B.
- Adjusted Q1 2026 results: $53.5M net income, 1.83% adjusted ROAA, 16.21% adjusted ROATE.
- Loans grew to $9.67B and total deposits to $11.0B as of March 31, 2026; 28% of deposits are non-interest bearing.
- Strong capital and liquidity: CET1 ratio 13.5%, tangible book value $77.21 per share, total shareholders' equity $1.70B.
- Asset quality and reserves: ACL/Loans 1.12%, net charge-offs remain low, securites portfolio largely investment grade with $1.24B in debt securities.
Original SEC Filing: PARK NATIONAL CORP /OH/ [ PRK ] - 8-K - May. 22, 2026
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