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PARK NATIONAL CORPORATION, NEWARK, OHIO REPORTS SECOND QUARTER, 1993 EARNINGS

 NEWARK, Ohio, July 9 /PRNewswire/ -- Park National Corporation (NASDAQ/NMS: PARK) today announced earnings for the second quarter of l993. Net income for the second quarter of l993 totaled $4.852 million or $1.37 per share compared to net income of $4.360 million or $l.23 per share in 1992, an increase of 11.3 percent. Net income for the first half of 1993 totaled $10.527 million or $2.97 per share compared to $8.54l million or $2.41 per share for the first half of l992. Accounting rules required Park to adopt Financial Accounting Standard l09, Accounting for Income Taxes, in the first quarter of l993. This resulted in a one time increase in net income of $l.5 million or $ .42 per share. The increase is recorded as a Change in Accounting Principle in Park's financial statements. Income per share excluding the accounting change is $2.55 per share for the first half of l993 compared to $2.41 per share in l992, an increase of 5.7 percent.
 Park National Corporation is a $l.2 billion asset, Ohio based, bank holding company, which owns Park National Bank (Newark and Columbus), Fairfield National Division (Lancaster), Richland Trust Company (Mansfield)and Mutual Federal Savings Bank (Zanesville). Park has thirty-seven, full-service banking offices and a network of 25 twenty- four hour teller machines in Central Ohio.
 Summary financial information is:
 PARK NATIONAL CORPORATION
 Dollar amounts in thousands (except per share)
 Second Quarter l993 1992
 Income before effect of a
 change in accounting principle $4,852 $4,360
 Net income 4,852 4,360
 Income per share before effect
 of a change in accounting principle 1.37 1.23
 Income per share 1.37 1.23
 ROA 1.57 pct 1.47 pct
 ROE 19.66 pct 20.03 pct
 Net interest income $14,095 $13,128
 Noninterest income 2,927 2,633
 Security gain (loss) 0 (19)
 Noninterest expense 8,978 9,214
 Loss provision 990 425
 Net (recoveries) charge-offs (220) 245
 YTD 1993 1992
 Income before effect of a
 change in accounting principle $9,027 $8,541
 Net income 10,527 8,541
 Income per share before effect
 of a change in accounting principle 2.55 2.41
 Income per share 2.97 2.41
 ROA 1.72 pct 1.44 pct
 ROE 21.81 pct 19.96 pct
 Net interest income $28,257 $26,123
 Noninterest income 5,548 5,181
 Security gain (loss) (15) (19)
 Noninterest expense 18,738 18,235
 Loss provision 1,980 1,145
 Net (recoveries) charge-offs (49) 758
 Balance Sheet 6/93 6/92
 Assets $1,236,791 $1,190,514
 Deposits 1,029,685 1,014,599
 Loans 826,747 763,509
 Equity 101,596 89,643
 Book value per share 28.68 25.30
 Reserve/loans 2.47 pct 2.28 pct
 Equity/assets 8.21 pct 7.53 pct
 -0- 7/9/93
 /CONTACT: Jerry Nethers, vice president marketing, 6l4-349-37l0, or David C. Bowers, CFO, 6l4-349-3708, both of Park National Corporation/
 (PARK)


CO: Park National Corporation ST: Ohio IN: FIN SU: ERN

BM -- CL006 -- 9806 07/09/93 09:14 EDT
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Date:Jul 9, 1993
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