Park National Corporation Reports Fourth Quarter and Year End 2010 Financial Results

Park National Corporation PRK today reported financial results for the three months ended December 31, 2010 and the year ended December 31, 2010. Park's Board of Directors also today declared a $0.94 per common share quarterly cash dividend, payable on March 10, 2011 to common shareholders of record on February 25, 2011. Park's net income was $74.2 million for each of the years ended December 31, 2010 and 2009. Net income for the 2010 fourth quarter was $12.7 million, a slight increase from $12.3 million earned in the same period in 2009. The issuance of common shares over the last four quarters resulted in a decline in net income per diluted common share compared to last year. Net income per diluted common share for the 2010 year was $4.51, a 6.4 percent decline from the $4.82 reported in 2009. Net income per diluted common share for the 2010 fourth quarter was $0.73, a 1.4 percent decline from $0.74 in the fourth quarter of 2009.