Park National Corporation announced its financial results for the fourth quarter and full year of 2024, reporting a significant increase in net income. For the fourth quarter of 2024, net income rose to $38.6 million, a 57.7 percent increase from $24.5 million in the same period of 2023. Net income per diluted common share for the quarter was $2.37, compared to $1.51 for the fourth quarter of 2023.
For the full year 2024, Park's net income reached $151.4 million, marking a 19.5 percent increase from $126.7 million in 2023. Net income per diluted common share for the full year was $9.32, up from $7.80 in the prior year. These results demonstrate a strong performance across the fiscal year.
The company also reported a 4.6 percent increase in total loans during 2024, alongside a 1.3 percent increase in total deposits, which rises to 2.7 percent when including off-balance sheet deposits. Park's board of directors declared a quarterly cash dividend of $1.07 per common share, payable on March 10, 2025, to shareholders of record as of February 14, 2025.
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