Park National Corporation Declares Quarterly Cash Dividend, Payable on March 10, 2015; Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014
January 27, 2015 at 02:40 am IST
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Park National Corporation declared a quarterly cash dividend of $0.94 per common share, payable on March 10, 2015 to common shareholders of record as of February 20, 2015.
The company reported earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net interest income of $57,294,000 against $55,900,000 for the same period in the last year. Income before income taxes was $33,040,000 against $22,617,000 for the same period in the last year. Net income was $24,341,000 or $1.58 per basic and diluted share against $17,454,000 or $1.13 per basic and diluted share for the same period in the last year. Book value per common share was $45.39 as at December 31, 2014 against $42.29 as at December 31, 2013. Return on average assets was 1.35% against 1.03% for the same period in the last year. Return on average equity was 13.81% against 10.87% for the same period in the last year. Total interest income was $67,816,000 against $66,066,000 for the same period in the last year.
For the year, the company reported net interest income of $225,044,000 against $221,025,000 for the same period in the last year. Income before income taxes was $112,692,000 against $102,358,000 for the same period in the last year. Net income was $84,090,000 or $5.46 per basic and diluted share against $77,227,000 or $5.01 per basic and diluted share for the same period in the last year. Return on average assets was 1.22% against 1.15% for the same period in the last year. Return on average equity was 12.32% against 11.96% for the same period in the last year. Total interest income was $265,143,000 against $262,947,000 for the same period in the last year.
Park National Corporation is a financial holding company. The Company's banking operations are conducted through its subsidiary, Park National Bank, a national banking association. The Company's principal business consists of owning and supervising its subsidiaries. Park National Bank engages in the commercial banking and trust business, generally in small and medium population areas in Ohio, North Carolina and South Carolina communities, in addition to operations within the metropolitan areas of Columbus and Cincinnati, Ohio; Charlotte, North Carolina; and Louisville, Kentucky. Park National Bank operates financial service offices in Ohio, Kentucky, North Carolina and South Carolina. Park National Bank delivers financial products and services through its financial service offices and through a network of automated teller machines, as well as telephone and Internet-based banking through both personal computers and mobile devices, including ParkDirect, a mobile bank experience.
Park National Corporation Declares Quarterly Cash Dividend, Payable on March 10, 2015; Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014