Dec. 24--Park National Bank of Newark is the latest bank to receive federal investment funding, securing $100 million in equity capital from the Treasury Department's Capital Purchase Program.

Park National plans to use the money for loans, Chairman and Chief Executive C. Daniel DeLawder told The Dispatch.

"Our fondest hope is to lend it," he said. "We've been lending money all throughout 2008. We have had a great year of lending, and now we have every intention of lending this money as well."

The Treasury investment is in the form of preferred shares with a warrant to purchase 227,376 common shares of Park at a price of $65.97, with a term of 10 years. The preferred shares will pay a dividend of 5 percent annually for the first five years and 9 percent afterward.

Park joins Huntington Bancshares, JPMorgan Chase, KeyCorp, Fifth Third Bancorp and U.S. Bancorp as locally operating banks that have benefited from the Emergency Economic Stabilization Act of 2008.

Park National has $6.8 billion in assets and 18 offices in central Ohio, as well as operations in southwest Ohio, northern Kentucky, Florida and Alabama.

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