Company: PNBK
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040370
Chunk: 78

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 78
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 of the NOL will expire between 2030 and 2044 and approximately $3.3 million of the NOL will expire in 2055.

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. We are currently assessing its impact on our Consolidated Financial Statements.

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Deposits

The following table is a summary of the Company’s deposits at the dates shown:

(In thousands)June 30,December 31,Increase/(Decrease)20252024$%Non-interest bearing:Non-interest bearing$73,204 $106,689 $(33,485)(31.39)%Non-interest bearing DDA- Digital Payments33,746 12,523 21,223 169.47 %Total non-interest bearing106,950 119,212 (12,262)(10.29)%Interest bearing:Negotiable order of withdrawal accounts (NOW)23,865 31,549 (7,684)(24.36)%Savings34,081 38,743 (4,662)(12.03)%Interest bearing DDA (net of $ 2,067 in deposits sold as of June 30, 2025)19,251 19,630 (379)(1.93)%Interest bearing DDA - Digital Payments (net of $26,671 in deposits sold as of June 30, 2025)167,341 186,365 (19,024)(10.21)%Money market178,448 195,369 (16,921)(8.66)%Money market - Digital Payments 15,778 66,654 (50,876)(76.33)%Certificates of deposit, $250,000 or less159,260 174,095 (14,835)(8.52)%Certificates of deposit, more than $250,00058,761 65,278 (6,517)(9.98)%Brokered deposits67,122 69,702 (2,580)(3.70)%Total Interest bearing723,907 847,