The Park National Bank Review

Overview

The Park National Bank was founded in 1908 with its headquarters in Newark, Ohio. It manages $7 billion in assets as well as deposits totaling $6 billion, classifying it as a large bank. The Park National Bank has above-average access to customer service with a live chat feature, great for getting help during the work week. 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. On the whole, The Park National Bank is a lower-rated bank that might not check all the boxes, with a score of 3.0 out of 5 stars from our team. The Park National Bank provides customers with a complete array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. Locating an institution with no-fee checking and a high interest rate savings account is the best bet for gaining the most income from your deposits while having easy access to your money.

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 in comparison to the average U.S. bank. The Park National Bank's one-year and five-year term lengths CDs earn at a rate of 1.35% and 2.00%, respectively, while its highest-yielding money market account has a rate of 0.50%. Given The Park National Bank's poor savings rate, you should think about other options to earn more on your deposits.

How The Park National Bank's Savings Rates Compare

On average, The Park National Bank charges its customers high fees compared to the national average. Also, The Park National Bank has an overdraft fee of $32.00, which is less than the national average. The Park National Bank doesn't reimburse out-of-network ATM fees, meaning you will be required to find a The Park National Bank ATM or eat the fee.

The Park National Bank is a brick-and-mortar bank, with 112 total branches 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, an alternative customer service tool if you can't call in during business hours. The Park National Bank's online and mobile banking services get poor marks from customers. With 190 customer reviews across Apple and Android platforms, the The Park National Bank mobile app rates a 3.2 out of 5 (compared to the national average of 3.8). The Park National Bank's mobile app allows you to control your funds by checking account balances, transferring money as well as accessing support representatives. The Park National Bank gets a superb consumer satisfaction rating due to relatively 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 ranks as a large bank and owns $7 billion in assets and deposits totaling $6 billion. The Park National Bank has a strong Texas Ratio of 10.38%, signifying that the bank is in good financial health 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 like 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 think about looking elsewhere 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 as compared against the national average.

Find a The Park National Bank Near Me

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