Exhibit 12

COMPUTATION OF RATIOS

RETURN ON AVERAGE ASSETS	Net income/Average assets
RETURN ON AVERAGE EQUITY	Net income/Average stockholders’ equity
NET INTEREST MARGIN (computed on a fully taxable equivalent basis)	Fully taxable equivalent net interest income/Average earning assets
NONINTEREST EXPENSE EXCLUDING IMPAIRMENT CHARGE TO NET REVENUE (computed on a fully taxable equivalent basis) [Also referred to as EFFICIENCY RATIO BEFORE IMPAIRMENT CHARGE]	Total other expense (excluding goodwill impairment charge)/(Fully taxable equivalent net interest income plus total other income adjusted for gains or losses on sales of securities)
DIVIDEND PAYOUT RATIO	Dividends declared/Net income
AVERAGE STOCKHOLDERS’ EQUITY TO AVERAGE TOTAL ASSETS	Average stockholders’ equity/Average assets
AVERAGE COMMON STOCKHOLDERS’ EQUITY	Average stockholders’ equity less preferred stock
TANGIBLE COMMON EQUITY TO TANGIBLE ASSETS	(Stockholders’ equity less goodwill and other intangible assets and preferred stock)/(Assets less goodwill and other intangible assets)
TIER 1 CAPITAL RATIO	(Stockholders’ equity less goodwill and other intangible assets and accumulated other comprehensive income (loss) plus qualifying trust preferred securities (“Tier 1 capital”))/Risk-adjusted assets
RISK-BASED CAPITAL RATIO	(Tier 1 capital plus qualifying loan loss allowance and subordinated debt)/Risk-adjusted assets
LEVERAGE RATIO	Tier 1 capital/(Average total assets less goodwill and other intangible assets)
BOOK VALUE PER SHARE	Total stockholders’ equity/Common shares outstanding at year-end
ALLOWANCE FOR LOAN LOSSES TO END OF YEAR LOANS	Allowance for loan losses/Gross loans net of unearned interest
NET CHARGE-OFFS TO AVERAGE LOANS	Net charge-offs/Average gross loans net of unearned interest
NONPERFORMING LOANS TO LOANS	(Nonaccrual loans plus loans past due 90 days or greater plus renegotiated loans)/Gross loans net of unearned interest
NONPERFORMING ASSETS TO LOANS	(Nonaccrual loans plus loans past due 90 days or greater plus renegotiated loans plus other real estate owned)/Gross loans net of unearned interest
NONPERFORMING ASSETS TO TOTAL ASSETS	(Nonaccrual loans plus loans past due 90 days or greater plus renegotiated loans plus other real estate owned)/Total assets
RETURN ON AVERAGE EQUITY BEFORE IMPAIRMENT CHARGE	(Net income plus goodwill impairment charge)/Average stockholders’ equity
RETURN ON AVERAGE ASSETS BEFORE IMPAIRMENT CHARGE	(Net income plus goodwill impairment charge)/Average assets
RETURN ON AVERAGE COMMON EQUITY	Net income available to common shareholders/(stockholders’ equity less preferred stock)
RETURN ON AVERAGE COMMON EQUITY BEFORE IMPAIRMENT CHARGE	(Net income available to common shareholders plus goodwill impairment charge)/(stockholders’ equity less preferred stock)

Computation of Ratio of Earnings to Fixed Charges

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

	For the Year Ended December 31,
	2008		2007		2006		2005		2004
Ratio of earnings to fixed charges (1):
Excluding interest on deposits		1.77		2.12		4.36		4.61		7.80
Including interest on deposits		1.26		1.31		2.09		2.44		3.19

(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, and one-third of rental expense, which Park National Corporation believes is representative of the interest factor.

Earnings:
Income before income taxes	$	35,719,000	$	52,677,000	$	133,077,000	$	135,424,000	$	129,249,000
Fixed Charges:
Interest on deposits	$	89,892,000	$	121,021,000	$	82,272,000	$	56,899,000	$	39,998,000
Borrowings and long-term debt	$	45,574,000	$	46,126,000	$	39,043,000	$	36,996,000	$	18,704,000
Rent expense interest factor (1/3)	$	801,147	$	731,723	$	530,030	$	476,528	$	303,595
Total Fixed Charges:
Including interest on deposits	$	136,267,147	$	167,878,723	$	121,845,030	$	94,371,528	$	59,005,595
Excluding interest on deposits	$	46,375,147	$	46,857,723	$	39,573,030	$	37,472,528	$	19,007,595

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:

	For the Year Ended December 31,
	2008		2007		2006		2005		2004
Ratio of earnings to fixed charges and preferred dividends (1):
Excluding interest on deposits		1.77		2.12		4.36		4.61		7.80
Including interest on deposits		1.26		1.31		2.09		2.44		3.19

(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 one-third of rental expense, which Park National Corporation believes is representative of the interest factor.

Earnings:
Income before income taxes	$	35,719,000	$	52,677,000	$	133,077,000	$	135,424,000	$	129,249,000
Fixed Charges:
Interest on deposits	$	89,892,000	$	121,021,000	$	82,272,000	$	56,899,000	$	39,998,000
Borrowings and long-term debt	$	45,574,000	$	46,126,000	$	39,043,000	$	36,996,000	$	18,704,000
Preferred dividends	$	202,857		N/A		N/A		N/A		N/A
Rent expense interest factor (1/3)	$	801,147	$	731,723	$	530,030	$	476,528	$	303,595
Total Fixed Charges:
Including interest on deposits	$	136,470,004	$	167,878,723	$	121,845,030	$	94,371,528	$	59,005,595
Excluding interest on deposits	$	46,578,004	$	46,857,723	$	39,573,030	$	37,472,528	$	19,007,595