Park National (PRK) 10-Q 2011 Q3 Quarterly report

Exhibit 12.2

Computation of Ratio of Earnings to Fixed Charges and Preferred Dividends

The following table shows the ratio of earnings to fixed charges and preferred dividends for Park, which includes our subsidiaries, on a consolidated basis:

	Nine Months
	Ended		Year Ended December 31,
	Sept 30, 2011		2010		2009		2008		2007		2006
Ratio of earnings to fixed charges
and preferred dividends (1):
Excluding Interest on Deposits		3.71		3.58		3.52		1.77		2.12		4.36
Including Interest on Deposits		2.57		2.24		1.94		1.26		1.31		2.09

(1) For purposes of computing the ratios, earnings consist of income before income taxes and fixed charges.  Fixed charges consist of interest on borrowings and long-term debt, including/excluding interest on deposits, preferred dividends and accretion, and one-third of rental expense, which Park National Corporation believes is representative of the interest factor.

Earnings:
Income before income taxes	$	80,874,000	$	99,531,000	$	97,135,000	$	35,719,000	$	52,677,000	$	133,077,000
Fixed Charges:
Interest on deposits		21,513,000		41,965,000		64,620,000		89,892,000		121,021,000		82,272,000
Borrowings and long-term debt		23,181,000		29,508,000		29,579,000		45,574,000		46,126,000		39,043,000
Preferred dividends and accretion		6,274,286		8,295,714		8,231,429		202,857
Rent expense interest factor (1/3)		424,897		721,687		794,866		801,147		731,723		530,030
Total fixed charges:
Including interest on deposits	$	51,393,182	$	80,490,402	$	103,225,295	$	136,470,004	$	167,878,723	$	121,845,030
Excluding interest on deposits	$	29,880,182	$	38,525,402	$	38,605,295	$	46,578,004	$	46,857,723	$	39,573,030