Company: PNBK
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040370
Chunk: 26

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 on the loan is expected, the full balance of the loan receivable is charged off, regardless of the potential recovery from a sale of the underlying collateral. Any amount that may be recovered on the sale of collateral underlying a loan is recognized as a “recovery” in the period in which the collateral is sold. In accordance with Federal Financial Institutions Examination Council published policies establishing uniform criteria for the classification of retail credit based on delinquency status, “Open-end” credits are typically charged off once they reach 180 days past due and “Closed-end” credits are typically charged off once they reach 120 days past due, with limited exceptions for loans secured by 1-4 family residential real estate.

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

Loan Portfolio Vintage AnalysisThe following tables summarize loan amortized cost by vintage, credit quality indicator, class of loans and charge-offs based on year of origination as of June 30, 2025:Term of Loans by Origination As of June 30, 2025:20252024202320222021PriorRevolvingTotal Loans Receivable Gross Loan portfolio segment:Commercial Real Estate:Pass$— $— $99,571 $94,098 $80,549 $64,076 $— $338,294 Special mention— — 3,661 3,653 — 1,225 — 8,539 Substandard— — 183 7,481 10,923 4,956 — 23,543 Total — — 103,415 105,232 91,472 70,257 — 370,376 Current period gross charge-offs— — — — — 635 — 635 Residential Real Estate:Pass960 3,578 — 1,202 2,769 49,310 961 58,780 Special mention— — — — — 1,343 — 1,343 Total 960 3,578 — 1,202 2,769 50,653 961 60,123 Current period gross charge-offs— — — — — — — — Commercial and Industrial:Pass5,873 786 3,742 12,124