Defendant Name:
Park National Corporation
Defendant Type:
Public Company
SIC Code:
6712
CUSIP:
70065810
Document Reference:
34-78896
Document Details
Legal Case Name
In the Matter of Park National Corporation
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order and Civil Penalties
Document Date
21-Sep-2016
Document Format
Administrative Proceeding
AAER
3804
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On September 21, 2016, the SEC filed a settled administrative proceeding against Park National Corporation. According to the SEC: "This matter involves PRK's improper accounting for its Allowance for Loan Losses
("ALLL") relating to certain impaired loans--the largest of which were construction real estate land and development loans--at its Vision Bank ("Vision") subsidiary in 2010 and 2011."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Monetary Penalties:
Civil Penalty
Individual:
$500,000.00
Shared:
