The Park National Bank Review

Overview

The Park National Bank was founded in 1908 and has its headquarters in Newark, Ohio. The Park National Bank owns assets of $7 billion and $6 billion in deposits, classifying it as a large bank. The Park National Bank has above-average access to customer service with a live chat feature, which is helpful for those that work during typical customer service hours. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. With a poor 3 out of 5 stars, The Park National Bank is a satisfactory bank that does not stack up to some of the other banks. The Park National Bank offers a complete array of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. The Park National Bank has a fair savings rate; other popular banks have higher rates. Banks that offer free checking, in addition to a high savings APY are your best bet for getting the highest income on your deposits while maintaining easy access to your funds.

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

With a savings rate of 0.25%, The Park National Bank ranks poorly compared to the national average. The Park National Bank's CDs feature a rate of 1.35% and 2.00% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.50%. Given its poor savings rate, you should think about taking a look at other banks for savings accounts.

How The Park National Bank's Savings Rates Compare

The Park National Bank charges its customers high fees compared to the national average. Also, it has an overdraft fee of $32.00, which is lower than that of other U.S. banks. The Park National Bank unfortunately does not reimburse out-of-network ATM fees, meaning you'll need to search for a The Park National Bank ATM or pay the ATM charge.

The Park National Bank is a brick-and-mortar bank, with 112 total bank locations in Ohio. With mobile and web apps, The Park National Bank makes account access straightforward, even on the go. The Park National Bank also offers a live chat feature, key for getting quick access to customer service. The Park National Bank gets poor reviews from customers for its mobile banking services. The The Park National Bank mobile app has an overall rating of 3.2 out of 5 (with 190 customer reviews on iOS and Android) compared to the national average of 3.8. You can utilize The Park National Bank's app to manage your finances by checking monthly statements, transferring money and accessing customer service. The Park National Bank receives a superb consumer satisfaction rating based on comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

The Park National Bank is currently a large bank with $7 billion in assets as well as deposits totaling $6 billion. The Park National Bank has a strong Texas Ratio of 10.38%, denoting that The Park National Bank is in fine financial shape and improbable to fail. Additionally, The Park National Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

Products Offered

The Park National Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. The Park National Bank does not have the best savings rate, which means you should consider other options for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. The Park National Bank's CD rates are fair compared to the national average.

Find a The Park National Bank Near Me

The Park National Bank has 112 physical branches across the U.S.