Park National Corporation (“Park”) is a financial holding company
subject to regulation under the Bank Holding Company Act of 1956, as amended
(the “Bank Holding Company Act”). Park was incorporated under Ohio
law in 1992. Park’s principal executive offices are located at 50 North
Third Street, Newark, Ohio 43055, and its telephone number is (740) 349-8451.
Park’s common shares, each without par value (the “Common Shares”),
are listed on NYSE MKT LLC (“NYSE MKT”), under the symbol “PRK.”
Park National Bank is a national banking association with its main office in
Newark, Ohio and financial service offices in Ashland, Athens, Butler, Champaign,
Clark, Clermont, Coshocton, Crawford, Darke, Fairfield, Fayette, Franklin, Greene,
Hamilton, Hocking, Holmes, Knox, Licking, Madison, Marion, Mercer, Miami, Morrow,
Muskingum, Perry, Richland, Tuscarawas and Warren Counties in Ohio.
Park National Bank engages in the commercial banking and trust business, generally
in small and medium population Ohio communities. Park National Bank operates
116 banking offices in Ohio through eleven banking divisions with: (i) the Park
National Bank Division headquartered in Newark, Ohio; (ii) the Fairfield National
Bank Division headquartered in Lancaster, Ohio; (iii) the Richland Bank Division
headquartered in Mansfield, Ohio; (iv) the Century National Bank Division headquartered
in Zanesville, Ohio; (v) the First-Knox National Bank Division headquartered
in Mount Vernon, Ohio; (vi) the Farmers Bank Division headquartered in Loudonville,
Ohio; (vii) the United Bank, N.A. Division headquartered in Bucyrus, Ohio; (viii)
the Second National Bank Division headquartered in Greenville, Ohio; (ix) the
Security National Bank Division headquartered in Springfield, Ohio; (x) the
Unity National Bank Division headquartered in Piqua, Ohio; and (xi) The Park
National Bank of Southwest Ohio & Northern Kentucky Division headquartered
in Cincinnati, Ohio.
Park National Bank deals with consumers as well as with a wide cross-section
of businesses and corporations located primarily in the 28 Ohio counties served
by the financial service offices of Park National Bank. As a result of the Vision
Bank – SEPH merger, SEPH holds loans originated by Vision Bank previously
serviced by the financial service offices of Vision Bank. It is expected that
SEPH will originate loans only to further the collection efforts with respect
to the loans transferred to SEPH by operation of law as a result of the Vision
Bank - SEPH merger. Such origination (or modification) volume is expected to
be insignificant to the consolidated Park entity. Park National Bank also holds
loans which were purchased from Vision Bank prior to the Vision Bank - SEPH
merger.
Park National Bank makes lending decisions in accordance with the written loan
policies adopted by Park which are designed to maintain acceptable loan quality.
Park National Bank originates and retains for its own portfolio commercial and
commercial real estate loans, residential real estate loans, home equity lines
of credit, and installment loans. Park National Bank also originates fixed-rate
residential real estate loans for sale to the secondary market.
Guardian Finance originates and retains for its own portfolio consumer installment
loans and commercial loans. Guardian Finance makes lending decisions in accordance
with the written loan policy adopted and approved by the Guardian Finance Board
of Directors.
There are certain risks inherent in making loans. These risks include changes
in the credit worthiness of borrowers over the time period in which loans may
be repaid, interest rate changes over the time period in which loans may be
repaid, risks resulting from changes in the national and local economies, risks
inherent in dealing with borrowers and, in the case of loans secured by collateral,
risks resulting from uncertainties about the future value of the collateral.
