8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company   ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 - Regulation FD Disclosure.

On February 28, 2023, The Park National Bank (“Park National Bank”), the national bank subsidiary of Park National Corporation (the “Registrant”), issued a news release announcing that Park National Bank had reached an agreement with the United States Department of Justice (the “DOJ”) to increase the efforts of Park National Bank to promote home lending in the Columbus, Ohio market. The agreement, which is reflected in the proposed consent order filed today in the United States District Court for the Southern District of Ohio (the “DOJ Consent Order”), serves to voluntarily resolve all claims of the United States alleging that Park National Bank’s mortgage lending practices within the Columbus, Ohio Metropolitan Statistical Area violated the Fair Housing Act and the Equal Credit Opportunity Act. A copy of the news release issued by Park National Bank is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

In accordance with the terms of the DOJ Consent Order, Park National Bank will invest $7.75 million over five years in a loan subsidy fund to increase credit opportunities for home mortgages, home improvement loans and home refinance loans for consumers applying for loans in majority minority census tracts ("MMCT's") in Fairfield, Franklin, Hocking, Licking, Morrow and Perry counties in Ohio (the “Columbus Lending Area”). Park National Bank will also devote a minimum of $500,000 over five years toward one or more community development partnership programs that provide services to residents of MMCTs in the Columbus Lending Area related to credit, financial education, homeownership and foreclosure prevention; and at least $150,000 per year over five years toward advertising, community outreach, consumer financial education and credit counseling in the Columbus Lending Area. Park National Bank will also establish one new mortgage loan production office and one new full-service branch in MMCTs in the Columbus Lending Area and hire four lenders, one of whom will be Spanish-speaking, focused on serving these communities. In addition, Park National Bank will continue to maintain, throughout the term of the DOJ Consent Order, Park National Bank’s full-time Director of Community Home Lending and Development position, who will oversee Park National Bank’s lending in MMCTs in the Columbus Lending Area.

The DOJ Consent Order must be approved by the United States District Court for the Southern District of Ohio, Western Division, and once approved and entered by that Court, the DOJ Consent Order will resolve all claims by the United States against Park National Bank.

The information in this Item 7.01 is being furnished pursuant to Item 7.01 of Form 8-K and shall be not deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section 18. The furnishing of information in this Item 7.01 shall not be deemed an admission as to the materiality of any information herein.

Item 9.01 - Financial Statements and Exhibits.

(a)Not applicable

(b)Not applicable

(c)Not applicable

(d)Exhibits. The following exhibits are included with this Current Report on Form 8-K:

Exhibit No.        Description

99.1    News Release issued by Park National Bank of February 28, 2023

104    Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

3

Document

February 28, 2023                                        Exhibit 99.1

Park National Bank Expands Home Lending Programs in Columbus

NEWARK, Ohio – Park National Bank (Park) reached an agreement with the U.S. Department of Justice (DOJ) to increase Park’s efforts to promote home lending in the Columbus, Ohio, market. The resolution is based on a DOJ review of Park’s home lending between 2015 and 2021 in the Columbus Metropolitan Statistical Area (MSA). The agreement is one of several reached recently by the DOJ after similar reviews of banks across the country.

“While we disagree with any suggestion that intentional discrimination took place, we are united with the DOJ in our commitment to ensuring equal access to credit for all consumers,” Park Chairman and Chief Executive Officer David Trautman said. “Park strongly condemns discrimination in any form. We will continue to serve our customers and our communities with the integrity and compassion that have been our hallmark for the past 115 years.”

In addition to cooperating fully with the DOJ, Park simultaneously identified proactive steps to create more opportunities to connect with prospective borrowers, and as a result, the bank has several home lending initiatives underway.

Park has supported affordable housing, including financing, construction, rehabilitation and preservation for many years. Since 1991, Park has committed more than $188 million for low-income housing tax credits.

Additionally, Park supports many traditional and innovative housing-related programs in Columbus and throughout the communities it serves.

•For decades, Park has participated in state and local programs to provide down payment assistance. Park’s Home Sweet Home loan program provides additional support by making it easier for borrowers to qualify for loans to purchase or improve a home. Hundreds of clients have benefitted, and the program has more than $7 million in active loans.

•Park participates in housing investment fund programs in Franklin County. The bank has committed $5 million since 2020.

•Over the past three years, Park made more than $150 million in Community Development Loans, which directly support affordable housing, economic development, revitalization and stabilization.

Park’s philanthropic efforts and culture underscore these commitments. In 2022, Park gave more than $5.2 million to organizations that focus on social services, economic development, education, housing, financial education and health and wellness. Over the last 10 years, Park and its associates donated in excess of $30 million to support local communities.

“Our entire team takes pride in our legacy of corporate citizenship,” Trautman said. “We are proud of the way our lenders provide fair and equitable treatment to all borrowers, and we know we can do more to extend that service to individuals and families pursuing the dream of home ownership.”

About

Headquartered in Newark, Ohio, Park National Bank had $9.8 billion in total assets (as of December 31, 2022).

Media contact

Michelle Hamilton, Chief Marketing Officer, 740-340-6014 or media@parknationalbank.com