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NEWARK, Ohio - Park National Corporation (NYSE American:PRK), a regional banking institution with a market capitalization of $2.68 billion and impressive revenue growth of 10.66% over the last twelve months, announced Tuesday that Matthew R. Miller will become Chief Executive Officer of both the corporation and Park National Bank effective January 1, 2026, while retaining his current title as president. InvestingPro analysis indicates the bank maintains strong financial health metrics, with multiple positive indicators available to subscribers.
David L. Trautman, who has served as CEO since 2014, will continue as Chair of the Board, according to a company press release. The transition follows the board’s approval during its July 28 meeting after conducting a thorough evaluation as part of succession planning. Under Trautman’s leadership, the bank has maintained its dividend payments for 39 consecutive years, currently offering a 2.59% yield.
"Matt has led increasingly important strategic and tactical initiatives and is well-suited to lead our organization in the future," said Park Lead Director Lee Zazworsky.
Miller joined Park in 2009 and has held several leadership positions including Chief Accounting Officer and Executive Vice President before becoming president in 2019. Prior to Park, he worked at Deloitte LLP in Cleveland and Columbus.
"I’m grateful for the opportunity to continue my leadership journey at Park and look forward to working closely with David and the board," Miller said.
Trautman, who has been with Park for 42 years, served as president from 2005 through 2019 before Miller assumed that role. He has been Board Chair since 2019.
The appointment continues Park’s established pattern of leadership transitions over the past 65 years, according to the company.
Park National Corporation, headquartered in Newark, Ohio, reported $9.9 billion in total assets as of June 30, 2025. Trading at a P/E ratio of 16.95, the bank demonstrates solid fundamentals, with InvestingPro data showing robust profitability metrics and strong returns over the past five years. Subscribers can access additional insights and detailed financial analysis through the platform.
In other recent news, Park National Corporation has announced its decision to redeem $175 million in subordinated notes, scheduled for September 1, 2025. These notes, which carry a 4.50% Fixed-to-Floating Rate, will be redeemed at their principal amount, plus any accrued interest up to the redemption date. This move is part of the company’s financial strategy as outlined in their SEC filing. Additionally, Raymond James has initiated coverage on Park National with a Market Perform rating. The financial services firm highlighted the bank’s low-cost core deposit base, which supports an elevated net interest margin and drives attractive profitability. These recent developments reflect ongoing strategic decisions by Park National to manage its financial obligations and maintain profitability.
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