Company: PNBK
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052358
Chunk: 118

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 118
---
 30, 2024. The allowance for credit losses to non-accrual loans ratio was 27.67% as of September 30, 2025, compared to 41.10% as of September 30, 2024. The rate at September 30, 2024 was significantly higher due to reserves on individually evaluated CRE loans that were subsequently charged-off after September 30, 2024. 

The following table provides an allocation of allowance for credit losses on loans by portfolio segment:

(In thousands)September 30, 2025December 31, 2024Allowance for credit lossesPercent of loans in each category to total loansAllowance for credit lossesPercent of loans in each category to total loansCommercial Real Estate$2,504 61.29 %$2,241 59.30 %Residential Real Estate805 14.21 %596 13.03 %Commercial and Industrial3,430 20.96 %1,077 18.32 %Consumer and Other448 3.53 %3,386 8.48 %Construction— — %5 0.54 %Construction to permanent - CRE— 0.01 %— 0.33 %Total Allowance for credit losses$7,187 100.00 %$7,305 100.00 %

57

Non-performing Assets

The following table presents non-performing assets as of September 30, 2025 and December 31, 2024:

September 30, 2025December 31, 2024Non-accruing loans:Commercial Real Estate$20,109 $19,334 Residential Real Estate57 109 Commercial and Industrial5,463 3,341 Consumer and Other310 730 Construction to Permanent - CRE31 2,357 Total non-accruing loans25,970 25,871 Other real estate owned$— $2,843 Total nonperforming assets$25,970 $28,714 Nonperforming assets to total assets2.73 %2.84 %Nonperforming loans to total loans, net4.47 %3.69 %

As of September 30, 2025, non-accrual loans decreased to $26.0 million, compared to $28.7 million as of December 31, 2024