Company: PNBK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001628280-25-025485
Chunk: 132

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 132
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 31, 2024:Corporate bonds$—  $15,996  $— $15,996 $—  $12,735  $— $12,735 Subordinated notes3,000  1,000  — 4,000 2,610  851  — 3,461 SBA loan pools—  —  4,562 4,562 —  —  3,573 3,573 Municipal bonds—  —  — — —  —  — — Available-for-sale securities with stated maturity dates3,000  16,996  4,562 24,558 2,610  13,586  3,573 19,769 U. S. Government agency and mortgage-backed securities—  5,172  70,517 75,689 —  4,134  56,089 60,223 Total available-for-sale securities$3,000  $22,168  $75,079 $100,247 $2,610  $17,720  $59,662 $79,992 

Note 4.    Loans Receivable and Allowance for Credit Losses 

As of March 31, 2025 and December 31, 2024, loans receivable, net, consisted of the following:(In thousands)March 31, 2025December 31, 2024Loan portfolio segment:Commercial Real Estate$401,403 $419,489 Residential Real Estate90,753 92,215 Commercial and Industrial122,375 129,608 Consumer and Other53,498 59,973 Construction3,823 3,830 Construction to Permanent - CRE2,357 2,357 Loans receivable, gross674,209 707,472 Allowance for credit losses(6,729)(7,305)Loans receivable, net$667,480 $700,167 

12

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

Patriot's lending activities are conducted principally in Fairfield and New Haven Counties in Connecticut and Westchester County in New York, and the