Exhibit 99.1

		News Release

January 25, 2010

Park National Corporation announces 2009 financial results
and declares quarterly cash dividend

NEWARK, Ohio — Park National Corporation (Park) (NYSE Amex: PRK) today reported operating results for the three months ended December 31, 2009 (fourth quarter) and the twelve months ended December 31, 2009 (2009 year). In 2009, Park experienced loan growth, deposit growth, and an increase in net income in Ohio. Park’s board of directors also today declared a $0.94 per common share quarterly cash dividend, payable on March 10, 2010 to common shareholders of record as of February 26, 2010.

Park Chairman C. Daniel DeLawder credited Park associates for 2009 results. “In one of the most difficult and challenging banking environments we’ve ever experienced, we are very pleased to report an increase in net income, growth in loans and deposits, and the ability to continue paying significant dividends to our shareholders,” he said. “Our associates worked harder than ever resulting in performance levels that compare very favorably with industry trends and conditions.”

Income, Loan and Deposit Data

For the 2009 year, Park’s net income was $74.2 million or $4.82 per diluted common share. Net income for the 2009 fourth quarter was $12.3 million or $0.74 per diluted common share.

In 2008, Park recorded a goodwill impairment charge of $55.0 million at Vision Bank, significantly impacting earnings and comparability between years. For the 2008 year, Park reported net income of $13.7 million, or $0.97 per diluted common share. Without the goodwill impairment charge, Park’s net income for 2008 would have been $68.7 million, or $4.91 per diluted common share. Net income for the fourth quarter of 2008 was $11.0 million or $0.77 per diluted common share.

Park’s Ohio-based operations reported $104.3 million in net income for the 2009 year, a $9.4 million increase over net income of $94.9 million for 2008. Park grew loans by $149.1 million (3.32 percent) and deposits by $426.3 million (8.95 percent) for the 2009 year.

Park’s loan loss provision for the 2009 year was $68.8 million, compared to $70.5 million for 2008. Park subsidiary Vision Bank (based in Panama City, Fla.) had a loan loss provision of $44.4 million for the 2009 year, compared to $47.0 million for 2008. Park’s Ohio-based operations had a loan loss provision of $24.4 million in the 2009 year, compared to $23.5 million in 2008. Net loan charge-offs for the 2009 year were $52.2 million or 1.14 percent of average loans outstanding. This compares to net loan charge-offs of $57.5 million or 1.32 percent of average loans outstanding in 2008.

Park continues to proactively address current economic conditions within the loan portfolio through increases in the allowance for loan losses. As of December 31, 2009, the allowance for loan losses was $116.7 million, an increase of 16.6 percent over the balance of $100.1 million at December 31, 2008.

Capital Raising Activity

During 2009, Park executed various capital-raising strategies, selling an aggregate of 904,072 common shares at a purchase price of $61.20 per average weighted share, for gross proceeds of $55.3 million. In addition, Park raised $35.25 million through the issuance of 10 percent Subordinated Notes due December 23, 2019 (which qualify for Tier 2 Capital treatment under the Federal Reserve Board’s risk-based capital guidelines). The gross proceeds from Park’s 2009 capital raises totaled $90.55 million. Net of all selling and due diligence expenses, Park raised approximately $89 million.

Park National Corporation
50 N. Third Street, Newark, Ohio 43055
www.parknationalcorp.com

		News Release

Prior to these transactions, Park already maintained capital in excess of the federal regulatory requirements to qualify as well capitalized. “Throughout 2009, we executed a disciplined approach to raising additional capital for general corporate purposes and to take advantage of strategic opportunities that may arise in 2010,” DeLawder said. According to DeLawder, that could also include partial or complete repayment of Park’s $100 million obligation under the U.S. Treasury’s Capital Purchase Program.

Other information

•

In January 2010, Park sold $200 million of mortgage backed securities. Park expects this transaction to settle in March 2010 and estimates a pre-tax gain on sale of $7.3 million.

•

Park’s 2009 fourth quarter results included the completed sale of its Visa Class B shares, resulting in a pre-tax gain of approximately $3.0 million.

•

Park’s 2008 fourth quarter results included the completed sale of its credit card portfolio and merchant processing business, resulting in a pre-tax gain of $11.8 million.

Headquartered in Newark, Ohio, Park National Corporation holds $7.0 billion in total assets (as of December 31, 2009). Park consists of 13 community bank divisions and two specialty finance companies. Park’s Ohio-based banking operations are conducted through Park subsidiary The Park National Bank and its divisions which include Fairfield National Bank, Richland Bank, Century National Bank, First-Knox National Bank, Farmers and Savings Bank, United Bank, Second National Bank, Security National Bank, Unity National Bank and The Park National Bank of Southwest Ohio & Northern Kentucky. Park’s other banking subsidiary is Vision Bank (headquartered in Panama City, Florida), and its Vision Bank Division (of Gulf Shores, Alabama). Park also includes Scope Leasing, Inc. (d.b.a. Scope Aircraft Finance) and Guardian Finance Company.

Complete financial tables are included below.

###

Media Contacts: Bethany Lewis, Communications Specialist, 740.349.0421 or John Kozak, Chief Financial Officer, 740.349.3792

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This news release contains forward-looking statements that are provided to assist in the understanding of anticipated future financial performance. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance. The forward-looking statements are based on management’s expectations and are subject to a number of risks and uncertainties. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include, without limitation: deterioration in the asset value of Park’s loan portfolio may be worse than expected; Park’s ability to execute its business plan successfully and within the expected timeframe; general economic and financial market conditions, and weakening in the economy, specifically, the real estate market and credit market, either national or in the states in which Park and its subsidiaries do business, may be worse than expected which could decrease the demand for loan, deposit and other financial services and increase loan delinquencies and defaults; changes in market rates and prices may adversely impact the value of securities, loans, deposits and other financial instruments and the interest rate sensitivity of our consolidated balance sheet; changes in consumer spending, borrowing and saving habits; our liquidity requirements could be adversely affected by changes in our assets and liabilities; our ability to convert our Ohio-based banking divisions into one operating system; competitive factors among financial institutions increase significantly, including product and pricing pressures and our ability to attract, develop and retain qualified bank professionals; the nature, timing and effect of changes in banking regulations or other regulatory or legislative requirements affecting the respective businesses of Park and its subsidiaries, including changes in laws concerning taxes, banking, securities and other aspects of the financial services industry; the effect of fiscal and governmental policies of the United States federal government; demand for loans in the respective market areas served by Park and its subsidiaries, and other risk factors relating to the banking industry as detailed from time to time in Park’s reports filed with the Securities and Exchange Commission including those described in “Item 1A. Risk Factors” of Part I of Park’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008 and in “Item 1A. Risk Factors” of Part II of Park’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2009. Undue reliance should not be placed on the forward-looking statements, which speak only as of the date hereof. Park does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions that may be made to update any forward-looking statement to reflect the events or circumstances after the date on which the forward-looking statement is made, or reflect the occurrence of unanticipated events, except to the extent required by law.

Park National Corporation
50 N. Third Street, Newark, Ohio 43055
www.parknationalcorp.com

PARK NATIONAL CORPORATION
FINANCIAL HIGHLIGHTS
(Dollars in thousands, except per share data)

		THREE MONTHS ENDED												TWELVE MONTHS ENDED
		DECEMBER 31,												DECEMBER 31,
										PERCENT												PERCENT
		2009				2008				CHANGE				2009				2008				CHANGE
INCOME STATEMENT AND RATIOS
NET INTEREST INCOME		$	68,802			$	64,835				6.12	%		$	273,491			$	255,873				6.89	%
PROVISION FOR LOAN LOSSES			25,720				32,618				-21.15	%			68,821				70,487				-2.36	%
OTHER INCOME			16,718				27,049				-38.19	%			73,850				83,719				-11.79	%
GAIN ON SALE OF SECURITIES			—				219								7,340				1,115
GOODWILL IMPAIRMENT CHARGE			—				—				—				—				54,986				-100.00	%
OTHER EXPENSE			46,660				47,312				-1.38	%			188,725				179,515				5.13	%
INCOME BEFORE TAXES			13,140				12,173				7.94	%			97,135				35,719				N.M.
NET INCOME (LOSS)			12,296				10,951				12.28	%			74,192				13,708				N.M.
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS (a)			10,855				10,809				0.43	%			68,430				13,566				N.M.
NET INCOME (LOSS) PER COMMON SHARE-BASIC (a)			0.74				0.77				-3.90	%			4.82				0.97				N.M.
NET INCOME (LOSS) PER COMMON SHARE-DILUTED (a)			0.74				0.77				-3.90	%			4.82				0.97				N.M.
RETURN ON AVERAGE ASSETS (a)			0.61	%			0.63	%							0.97	%			0.20	%
RETURN ON AVERAGE COMMON EQUITY (a)			6.94	%			8.10	%							11.81	%			2.40	%
CASH DIVIDENDS DECLARED PER COMMON SHARE			0.94				0.95				-1.05	%			3.76				3.77				-0.27	%
INCOME STATEMENT AND RATIOS (NON GAAP)
NET INCOME BEFORE IMPAIRMENT CHARGE (c)			12,296				10,951				12.28	%			74,192				68,694				8.00	%
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS BEFORE IMPAIRMENT CHARGE (a)(c)			10,855				10,809				0.43	%			68,430				68,552				-0.18	%
NET INCOME BEFORE IMPAIRMENT CHARGE PER SHARE-DILUTED (c)			0.74				0.77				-3.90	%			4.82				4.91				-1.83	%
RETURN ON AVERAGE TANGIBLE ASSETS BEFORE IMPAIRMENT CHARGE (g)			0.62	%			0.64	%							0.98	%			1.04	%
RETURN ON AVERAGE ASSETS BEFORE IMPAIRMENT CHARGE (a)(c)			0.61	%			0.63	%							0.97	%			1.02	%
RETURN ON AVERAGE TANGIBLE REALIZED COMMON EQUITY BEFORE IMPAIRMENT CHARGE (a)(d)			8.33	%			9.56	%							14.20	%			15.66	%
RETURN ON AVERAGE COMMON EQUITY BEFORE IMPAIRMENT CHARGE (a)(c)			6.94	%			8.10	%							11.81	%			12.12	%
RETURN ON AVERAGE TANGIBLE ASSETS(f)(a)			0.62	%			0.64	%							0.98	%			0.21	%
RETURN ON AVERAGE TANGIBLE REALIZED COMMON EQUITY (b)(a)			8.33	%			9.56	%							14.20	%			3.10	%
OTHER RATIOS
YIELD ON EARNING ASSETS			5.51	%			5.99	%							5.67	%			6.35	%
COST OF PAYING LIABILITIES			1.58	%			2.21	%							1.74	%			2.55	%
NET INTEREST MARGIN			4.20	%			4.11	%							4.22	%			4.16	%
NET LOAN CHARGE-OFFS		$	19,044			$	21,725							$	52,192			$	57,501
NET CHARGE-OFFS AS A PERCENT OF AVERAGE LOANS			1.63	%			1.94	%							1.14	%			1.32	%

		December 31,				September 30,				December 31,
		2009				2009				2008
BALANCE SHEET
INVESTMENTS		$	1,863,560			$	1,873,953			$	2,059,051
LOANS			4,640,432				4,615,101				4,491,337
LOAN LOSS RESERVE			116,717				110,040				100,088
GOODWILL AND OTHER INTANGIBLES			81,799				82,735				85,545
TOTAL ASSETS			7,040,329				6,970,678				7,070,720
TOTAL DEPOSITS			5,188,052				5,114,976				4,761,750
BORROWINGS			1,053,850				1,066,757				1,554,754
EQUITY			717,264				687,327				642,663
COMMON EQUITY			620,781				591,035				546,942
TANGIBLE COMMON EQUITY (e)			538,982				508,300				461,397
COMMON BOOK VALUE PER SHARE			41.71				41.45				39.15
TANGIBLE COMMON BOOK VALUE PER SHARE (e)			36.22				35.65				33.02
NONPERFORMING LOANS			233,686				207,212				162,357
NONPERFORMING ASSETS			274,926				254,227				188,205
PAST DUE 90 DAY LOANS AND STILL ACCRUING			14,773				4,849				5,421
RATIOS
LOANS/ASSETS			65.91	%			66.21	%			63.52	%
NONPERFORMING LOANS/LOANS			5.04	%			4.49	%			3.61	%
PAST DUE 90 DAY LOANS/LOANS			0.32	%			0.11	%			0.12	%
LOAN LOSS RESERVE/LOANS			2.52	%			2.38	%			2.23	%
TOTAL EQUITY/ASSETS			10.19	%			9.86	%			9.09	%
COMMON EQUITY/ASSETS			8.82	%			8.48	%			7.74	%
TANGIBLE COMMON EQUITY/TANGIBLE ASSETS (h)			7.75	%			7.38	%			6.61	%

RECONCILIATION OF NET INCOME TO NET INCOME BEFORE IMPAIRMENT CHARGE:

		THREE MONTHS ENDED								TWELVE MONTHS ENDED
		DECEMBER 31,								DECEMBER 31,
		2009				2008				2009				2008
NET INCOME			12,296				10,951				74,192				13,708
Plus:
Goodwill impairment charge			—				—				—				54,986
NET INCOME BEFORE IMPAIRMENT CHARGE			12,296				10,951				74,192				68,694

RECONCILIATION OF NET INCOME PER SHARE-DILUTED TO NET INCOME BEFORE IMPAIRMENT CHARGE PER SHARE DILUTED:

		THREE MONTHS ENDED								TWELVE MONTHS ENDED
		DECEMBER 31,								DECEMBER 31,
		2009				2008				2009				2008
NET INCOME PER SHARE-DILUTED		$	0.74			$	0.77			$	4.82			$	0.97
Plus:
Impairment charge to goodwill per share-diluted			—				—				—				3.94
NET INCOME BEFORE IMPAIRMENT CHARGE PER SHARE-DILUTED		$	0.74			$	0.77			$	4.82			$	4.91

(d)

Net Income before impairment charge for each period divided by average tangible realized common equity during the period. Average tangible realized common equity equals average stockholders’ equity during the applicable period less (i) average preferred stock, (ii) average goodwill and other intangibles during the period and (iii) average accumulated other comprehensive income (loss), net of taxes, during the period.

RECONCILIATION OF AVERAGE STOCKHOLDERS’ EQUITY TO AVERAGE TANGIBLE REALIZED COMMON EQUITY:

		THREE MONTHS ENDED								TWELVE MONTHS ENDED
		DECEMBER 31,								DECEMBER 31,
		2009				2008				2009				2008
AVERAGE STOCKHOLDERS’ EQUITY			717,268				540,287				675,314				567,965
Less: Average preferred stock			96,374				9,362				96,090				2,353
Average goodwill and other intangibles			82,322				86,117				83,722				128,635
Average accumulated other comprehensive income (loss), net of taxes			21,786				(4,847	)			13,534				(876	)
AVERAGE TANGIBLE REALIZED COMMON EQUITY			516,786				449,655				481,968				437,853

RECONCILIATION OF STOCKHOLDERS’ EQUITY TO TANGIBLE COMMON EQUITY:

		December 31,				September 30,				December 31,
		2009				2009				2008
STOCKHOLDERS’ EQUITY			717,264				687,327				642,663
Less: Preferred stock			96,483				96,292				95,721
Goodwill and other intangibles			81,799				82,735				85,545
TANGIBLE COMMON EQUITY			538,982				508,300				461,397

RECONCILIATION OF AVERAGE ASSETS TO AVERAGE TANGIBLE ASSETS

		THREE MONTHS ENDED								TWELVE MONTHS ENDED
		DECEMBER 31,								DECEMBER 31,
		2009				2008				2009				2008
AVERAGE ASSETS			7,076,494				6,789,083				7,035,531				6,708,086
Less average goodwill and other intangibles			82,322				86,117				83,722				128,635
AVERAGE TANGIBLE ASSETS			6,994,172				6,702,966				6,951,809				6,579,451

(h)

Tangible common equity (see (e) above) divided by tangible assets. Tangible assets equals total assets less goodwill and other intangibles.

RECONCILIATION OF TOTAL ASSETS TO TANGIBLE ASSETS:

		December 31,				September 30,				December 31,
		2009				2009				2008
TOTAL ASSETS			7,040,329				6,970,678				7,070,720
Less: Goodwill and other intangibles			81,799				82,735				85,545
TANGIBLE ASSETS			6,958,530				6,887,943				6,985,175

PARK NATIONAL CORPORATION
Consolidated Statements of Income
(dollars in thousands, except per share data)

		Three Months Ended								Twelve Months Ended
		December 31,								December 31,
		2009				2008				2009				2008
Interest income:
Interest and fees on loans		$	68,676			$	72,054			$	275,599			$	301,163
Interest on:
Obligations of U.S. Government, its agencies and other securities			21,325				22,173				90,558				87,711
Obligations of states and political subdivisions			286				464				1,417				2,171
Other interest income			78				32				116				294
Total interest income			90,365				94,723				367,690				391,339
Interest expense:
Interest on deposits:
Demand and savings deposits			2,333				4,367				10,815				22,633
Time deposits			12,269				15,915				53,805				67,259
Interest on borrowings			6,961				9,606				29,579				45,574
Total interest expense			21,563				29,888				94,199				135,466
Net interest income			68,802				64,835				273,491				255,873
Provision for loan losses			25,720				32,618				68,821				70,487
Net interest income after provision for loan losses			43,082				32,217				204,670				185,386
Other income			16,718				27,049				73,850				83,719
Gain on sale of securities			—				219				7,340				1,115
Other expense:
Salaries and employee benefits			24,815				24,756				101,225				99,018
Occupancy expense			2,740				2,776				11,552				11,534
Furniture and equipment expense			2,395				2,451				9,734				9,756
Goodwill Impairment charge			—				—				—				54,986
Other expense			16,710				17,329				66,214				59,207
Total other expense			46,660				47,312				188,725				234,501
Income before income taxes			13,140				12,173				97,135				35,719
Income taxes			844				1,222				22,943				22,011
Net income		$	12,296			$	10,951			$	74,192			$	13,708
Preferred stock dividends			1,441				142				5,762				142
Net income available to common shareholders		$	10,855			$	10,809			$	68,430			$	13,566
Per Common Share:
Net income — basic		$	0.74			$	0.77			$	4.82			$	0.97
Net income — diluted		$	0.74			$	0.77			$	4.82			$	0.97
Weighted average shares — basic			14,658,601				13,967,194				14,206,335				13,965,219
Weighted average shares — diluted			14,658,601				13,967,650				14,206,335				13,965,333

PARK NATIONAL CORPORATION
Consolidated Balance Sheets
(dollars in thousands, except share data)

		December 31,
		2009				2008
Assets
Cash and due from banks		$	116,802			$	150,298
Money market instruments			42,289				20,964
Investment securities			1,863,560				2,059,051
Loans			4,640,432				4,491,337
Allowance for loan losses			116,717				100,088
Loans, net			4,523,715				4,391,249
Bank premises and equipment, net			69,091				68,553
Goodwill and other intangibles			81,799				85,545
Other real estate owned			41,240				25,848
Other assets			301,833				269,212
Total assets		$	7,040,329			$	7,070,720
Liabilities and Stockholders’ Equity
Deposits:
Noninterest bearing		$	897,243			$	782,625
Interest bearing			4,290,809				3,979,125
Total deposits			5,188,052				4,761,750
Borrowings			1,053,850				1,554,754
Other liabilities			81,163				111,553
Total liabilities		$	6,323,065			$	6,428,057
Stockholders’ Equity:
Preferred Stock (200,000 shares authorized in 2009 and -0- in 2008; 100,000 shares issued in 2009 and -0- in 2008)		$	96,483			$	95,721
Common stock (No par value; 20,000,000 shares authorized in 2009 and 2008; 16,151,112 shares issued in 2009 and 16,151,151 in 2008)			301,208				301,210
Common stock warrants			5,361				4,297
Accumulated other comprehensive income, net of taxes			15,661				10,596
Retained earnings			423,872				438,504
Treasury stock (1,268,332 shares in 2009 and 2,179,424 shares in 2008)			(125,321	)			(207,665	)
Total stockholders’ equity			717,264				642,663
Total liabilities and stockholders’ equity		$	7,040,329			$	7,070,720

PARK NATIONAL CORPORATION
Consolidated Average Balance Sheets
(dollars in thousands)

		Three Months Ended								Twelve Months Ended
		December 31,								December 31,
		2009				2008				2009				2008
Assets
Cash and due from banks		$	105,000			$	138,004			$	110,227			$	143,151
Money market instruments			132,479				19,696				52,518				15,502
Investment securities			1,848,142				1,815,033				1,930,151				1,806,317
Loans			4,631,230				4,465,655				4,594,436				4,354,520
Allowance for loan losses			109,211				88,567				103,683				86,485
Loans, net			4,522,019				4,377,088				4,490,753				4,268,035
Bank premises and equipment, net			68,234				69,375				67,944				69,278
Goodwill and other intangibles			82,322				86,117				83,722				128,635
Other real estate owned			44,420				23,047				38,523				19,910
Other assets			273,878				260,723				261,693				257,258
Total assets		$	7,076,494			$	6,789,083			$	7,035,531			$	6,708,086
Liabilities and Stockholders’ Equity
Deposits:
Noninterest bearing		$	856,093			$	770,364			$	818,243			$	739,994
Interest bearing			4,368,336				4,039,670				4,232,391				3,862,780
Total deposits			5,224,429				4,810,034				5,050,634				4,602,774
Borrowings			1,029,529				1,350,520				1,200,168				1,444,741
Other liabilities			105,268				88,242				109,415				92,606
Total liabilities		$	6,359,226			$	6,248,796			$	6,360,217			$	6,140,121
Stockholders’ Equity:
Preferred stock		$	96,374			$	9,362			$	96,090			$	2,353
Common stock			301,208				301,211				301,208				301,211
Common stock warrants			5,037				420				4,484				106
Accumulated other comprehensive income (loss), net of taxes			21,786				(4,847	)			13,534				(876	)
Retained earnings			438,367				442,092				446,326				473,236
Treasury stock			(145,504	)			(207,951	)			(186,328	)			(208,065	)
Total stockholders’ equity		$	717,268			$	540,287			$	675,314			$	567,965
Total liabilities and stockholders’ equity		$	7,076,494			$	6,789,083			$	7,035,531			$	6,708,086