Company: PNBK
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052358
Chunk: 3

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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 SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited)

(In thousands)Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Net loss$(2,657)$(26,954)$(10,435)$(30,334)Other comprehensive incomeNet unrealized holding gain on available for sale securities1,514 3,856 3,760 3,227 Income tax effect— (1,000)— (832)Reclassification for realized loss on sale of investment securities— — — 24 Income tax effect— — — (6)Impact of update to effective tax rate— (98)— (196)Other comprehensive income, net of tax1,514 2,758 3,760 2,217 Comprehensive loss$(1,143)$(24,196)$(6,675)$(28,117)

See Accompanying Notes to Consolidated Financial Statements.

7

PATRIOT NATIONAL BANCORP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Unaudited) 

Three Months Ended September 30, 2025(In thousands, except shares)Number of Common StockNumber of Preferred StockPreferred StockCommonStockAccumulatedDeficit Accumulated Other Comprehensive (Loss) Income TotalBalance at June 30, 202584,783,83090,832$5,099 $169,223 $(94,686) $(13,435)$66,201 Comprehensive (loss) income:Net loss——— — (2,657) — (2,657)Unrealized holding gain on available-for-sale securities, net of tax——— — —  1,514 1,514 Total comprehensive (loss) income——— — (2,657) 1,514 (1,143)Preferred stock conversion7,266,560$(90,832)(5,099)5,099 — — — Common stock issuance22,940,627—— 28,159 — — 28,159 Share-based compensation expense——— 1,806 —  — 1,806 Balance at September 30, 2025114,991,0170$— $204,