Company: PNBK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001628280-25-025485
Chunk: 155

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 155
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6.    Deposits

The following table presents the balance of deposits held, by category as of March 31, 2025 and December 31, 2024:(In thousands)March 31, 2025December 31, 2024Non-interest bearing$80,363 $119,212 Interest bearing:Negotiable order of withdrawal accounts25,228 31,549 Savings deposits38,362 38,743 Interest bearing DDA131,299 205,995 Money market267,478 262,023 Certificates of deposit, $250,000 or less182,919 174,095 Certificates of deposit, more than $250,00067,102 65,278 Brokered deposits69,683 69,702 Interest bearing, Total782,071 847,385 Total Deposits$862,434 $966,597 

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

The deposits from Digital Payments Division are included in the non-interest-bearing deposits, interest bearing DDA and money market deposits, and totaled approximately $161.1 million and $265.5 million as of March 31, 2025 and December 31, 2024, respectively. Interest Bearing DDA is net of deposits sold through the IntraFi network.  There were $116.9 million in deposits sold as of March 31, 2025, and no deposits sold as of December 31, 2024.As of March 31, 2025, contractual maturities of Certificates of Deposit (“CDs”), and brokered deposits is summarized as follows:(In thousands)Certificates of Deposit $250,000 or lessCertificates of Deposit  more than $250,000Brokered Deposits Total 1 year or less$152,650 $54,789 $37,716 $245,155 More than 1 year through 2 years26,966 11,812 31,967 70,745 More than 2 years through 3 years3,057 501 — 3,558 More than 3 years through 4 years140 — — 140 More than 4 years through 5 years106 — — 106 $182,919 $67,102 $69,683 $