Company: PNBK
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052358
Chunk: 218

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 218
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69.2%, respectively.

Commercial Real Estate Loans ("CRE")

The following table provides the composition of the commercial real estate loan portfolio segment as of September 30, 2025 and December 31, 2024:

(In thousands)September 30, 2025December 31, 2024Amount%Amount%Commercial Real EstateCRE owner occupied$70,342 19.50 %$83,934 20.01 %CRE multifamily50,602 14.02 %77,443 18.46 %CRE office35,505 9.84 %55,900 13.33 %CRE retail44,394 12.30 %46,946 11.19 %Other CRE non-owner occupied159,959 44.33 %155,266 37.01 %Total $360,802 100.00 %$419,489 100.00 %

The following table provides the commercial real estate loan portfolio segment by geographic concentrations as of September 30, 2025 and December 31, 2024:

(In thousands)September 30, 2025December 31, 2024Amount%Amount%New York$176,628 48.95 %$208,093 49.61 %Connecticut79,309 21.98 %98,342 23.44 %New Jersey23,632 6.55 %26,861 6.40 %Outside Market (1)81,234 22.51 %86,193 20.55 %Total Commercial Real Estate$360,803 100.00 %$419,489 100.00 %

(1) Outside Market consists of loans in all other states, none of which are greater than 5% of the total.

In accordance with OCC Bulletin 2006-46, "Concentrations in Commercial Real Estate Lending, Sound Risk Management Practices: Interagency Guidance on CRE Concentration Risk Management", and the Joint Interagency Guidance (71 FR 74580), the Bank monitors its CRE lending relative to total capital. As of September 30, 2025, the Bank’s CRE concentration was 267% of total Tier 1 capital plus allowance for credit loss, below the Bank’s concentration policy limit of 350%. This concentration level is slightly above the 300% supervisory monitoring threshold outlined in the guidance. Exceeding this