Company: PNBK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001628280-25-025485
Chunk: 131

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 131
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 and $60.2 million, respectively, were pledged to either the Federal Home Loan Bank ("FHLB") or Federal Reserve Bank (“FRB”). The securities were pledged primarily to secure borrowings from the FHLB and FRB.

11

Table of ContentsPATRIOT NATIONAL BANCORP, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements (Unaudited)

The following summarizes, by class and contractual maturity, the amortized cost and estimated fair value of available-for-sale debt securities held as of March 31, 2025 and December 31, 2024. The mortgages underlying the mortgage-backed securities are not due at a single maturity date. Additionally, these mortgages often are and generally may be pre-paid without penalty, creating a degree of uncertainty that such investments can be held until maturity. For convenience, mortgage-backed securities have been included in the summary as a separate line item.(In thousands)Amortized CostFair ValueDue Within 5 years Due After 5 years through 10 years Due After 10 yearsTotalDue Within 5 years Due After 5 years through 10 years Due After 10 yearsTotalMarch 31, 2025:Corporate bonds$—  $15,996  $— $15,996 $—  $12,637  $— $12,637 Subordinated notes3,000  1,000  — 4,000 2,640  910  — 3,550 SBA loan pools—  —  4,345 4,345 —  —  3,463 3,463 Municipal bonds—  —  — — —  —  — — Available-for-sale securities with stated maturity dates3,000  16,996  4,345 24,341 2,640  13,547  3,463 19,650 U. S. Government agency and mortgage-backed securities—  5,159  69,957 75,116 —  4,233  56,768 61,001 Total available-for-sale securities$3,000  $22,155  $74,302 $99,457 $2,640  $17,780  $60,231 $80,651 December