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Park National PRK special purpose mortgage loan program — Loan balance
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Where this comes from
Reported directly by Park National in its filing.
Tagged under the XBRL concept us-gaap:NotesReceivableGross.
The source filing: Park National’s 10-Q, filed August 7, 2026.
- Filed
- Aug 7, 2026, 4:15 PM EDT
- Fiscal quarter
- Q2 FY2026
- Calendar quarter
- Q2 2026
- Accession
- 0000805676-26-000061
- Helene: Qualitative adjustments included a $635,000 and $561,000 reserve at June 30, 2026 and December 31, 2025, respectively, related to Hurricane Helene which impacted borrowers in Park's Carolina region. This reserve considers the overall population of loans to borrowers in this area. While Helene impacted this region in October 2024, many borrowers are still navigating the insurance claim process and local businesses are waiting to see the full economic impact on tourist season.
- Special purpose mortgage: Qualitative adjustments included a $2.4 million and $2.3 million reserve at June 30, 2026 and December 31, 2025, respectively, related to several special purpose mortgage loan programs to assist borrowers in attaining home ownership. As of June 30, 2026, the total loans in these special purpose mortgage loan programs totaled $244.4 million. Delinquency rates within these special purpose mortgage loan programs have become higher than those of Park's traditional 30-year mortgage portfolio loans. These special purpose mortgage loan programs require very little, if any, down payment, and the loan-to-value on these loans are generally at 90% or above. For these reasons, management expects that the PD and LGD related to loans within these programs will be higher than that of Park's standard 30-year portfolio loans and established a qualitative factor related to the increased risk of loss on mortgage loans within these programs.
- Former First Citizens loans: Qualitative adjustments included a $3.2 million additional reserve at June 30, 2026 related to the newly acquired First Citizens loan portfolio. The qualitative adjustment reflects risks associated with entry into new markets, the integration of credit administration practices, and a lower quantitative reserve compared to legacy segments. Although pre‑acquisition due diligence indicated a risk profile generally consistent with Park’s existing loan portfolio, the quantitative ACL calculated for former First Citizens loans was significantly below that of the legacy portfolio. In order to take into consideration all of these factors, management added an additional 20 bps reserve to the affected loans, or $3.2 million, as of June 30, 2026. Park believes that the resulting reserve on former First Citizens loans is more in line with the legacy portfolio.
- Expected extension: During the second quarter, management identified one special mention loan that is reasonably expected to be extended beyond its current contractual term. As a result, the allowance at June 30, 2026 included an additional qualitative reserve of $1.2 million related to this $21.3 million loan to account for the expected extension of the loan term.
Item 1. Financial Statements
FAQ
- What is Park National's special purpose mortgage loan program — loan balance?
- Park National (PRK) reported special purpose mortgage loan program — loan balance of $244.4M in Q2 2026.
- How has Park National's special purpose mortgage loan program — loan balance changed year-over-year?
- Park National's special purpose mortgage loan program — loan balance increased by 17.6% year-over-year, from $207.9M to $244.4M.
- What does special purpose mortgage loan program — loan balance mean?
- This metric represents the total outstanding principal balance of mortgage loans originated under specific community-focused or targeted lending initiatives. These programs are typically designed to expand homeownership opportunities for underserved populations or specific geographic areas. Monitoring this balance helps investors assess the bank's commitment to social responsibility and its exposure to specialized credit risk profiles within its mortgage portfolio.
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