Park National Corporation entered into $10 million revolving credit agreement with U.S. Bank.

As of May 23, 2016, no amounts had been borrowed under the credit agreement. The maturity date is May 17, 2017, at which time all outstanding principal and unpaid accrued interest will become due and payable.

Any loan under the agreement will bear interest at a rate equal to 2.00% plus the greater of (a) zero percent (0.00%) or (b) the one-month LIBOR rate in effect two New York banking days prior to the first day of each calendar month, adjusted for any reserve requirement and any subsequent costs arising from a change in government regulation, with such rate being rounded to the nearest 1/16% and reset monthly on the first day of the month, subject to the default rate not being applicable.