Other Investment Securities |
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| Other Investment Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Investment Securities, | Other Investment Securities Other investment securities consist of restricted stock investments in the FHLB and the FRB, and equity securities. The restricted FHLB and FRB stock investments are carried at their redemption value. Equity securities with a readily determinable fair value are carried at fair value. Equity securities without a readily determinable fair value are recorded at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions ("modified cost"). Park's portfolio of equity investments in limited partnerships which provide mezzanine funding ("Partnership Investments") are valued using the NAV practical expedient in accordance with ASC 820. The carrying amounts of other investment securities at June 30, 2025 and December 31, 2024 were as follows:
(1) There have been no impairments or downward adjustments made to equity investments carried at modified cost. Cumulatively, upward adjustments of $1.4 million have been recorded as a result of observable price changes. There were no adjustments recorded during the three or six months ended June 30, 2025 as a result of observable price changes. There were $571,000 in upward adjustments recorded during the three months and six months ended June 30, 2024 as a result of observable price changes. During the three months and six months ended June 30, 2025, Park purchased 4,940 shares of FHLB stock with a book value of $494,000. During the three months ended June 30, 2024, Park purchased 62,766 shares of FHLB stock with a book value of $6.3 million. During the six months ended June 30, 2024, Park purchased 65,012 shares of FHLB stock with a book value of $6.5 million. During the three months ended June 30, 2025, the FHLB repurchased 4,635 shares of FHLB stock with a book value of $464,000. During the six months ended June 30, 2025, the FHLB repurchased 10,878 shares of FHLB stock with a book value of $1.1 million. During the three months ended June 30, 2024, the FHLB repurchased 90,708 shares of FHLB stock with a book value of $9.1 million. During the six months ended June 30, 2024, the FHLB repurchased 136,338 shares of FHLB stock with a book value of $13.6 million. No shares of FRB stock were purchased or sold during the three months or six months ended June 30, 2025 or 2024. During the three months ended June 30, 2025 and 2024, $2.3 million and $450,000, respectively, of gains on equity investments carried at fair value were recorded within "Gain (loss) on equity securities, net" on the Consolidated Condensed Statements of Income. During the six months ended June 30, 2025 and 2024, $1.7 million and $453,000, respectively, of gains on equity investments carried at fair value were recorded within "Gain (loss) on equity securities, net" on the Consolidated Condensed Statements of Income. During the three months ended June 30, 2025 and 2024, $182,000 and $(92,000), respectively, of gains (losses) on equity investments carried at NAV were recorded within “Gain (loss) on equity securities, net” on the Consolidated Condensed Statements of Income. During the six months ended June 30, 2025 and 2024, $(117,000) and $(782,000), respectively, of losses on equity investments carried at NAV were recorded within “Gain (loss) on equity securities, net” on the Consolidated Condensed Statements of Income.
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