Company: PNBK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001628280-25-025485
Chunk: 19

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 commitments is classified as a liability account on the Consolidated Balance Sheets within other liabilities, while the corresponding provision for these credit losses is recorded as a component of provision for credit losses. The allowance for credit losses on unfunded commitments was $159,000 at March 31, 2025 and $182,000 at December 31, 2024. The following tables summarize the activity in the allowance for credit losses, allocated to segments of the loan portfolio, for the three months ended March 31, 2025 and 2024:(In thousands)Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer and Other Construction Construction to Permanent - CRE Total Three Months Ended March 31, 2025Allowance for credit losses:December 31, 2024$2,241 $596 $1,077 $3,386 $5 $— $7,305 Charge-offs(635)— (119)(916)— — (1,670)Recoveries— — 86 252 — — 338 Provisions (credits)669 43 124 (115)3 32 756 (1)March 31, 2025$2,275 $639 $1,168 $2,607 $8 $32 $6,729 Three Months Ended March 31, 2024Allowance for credit losses:December 31, 2023$6,089 $607 $1,269 $7,843 $4 $113 $15,925 Charge-offs(158)(21)(410)(2,523)— — (3,112)Recoveries— — 6 305 — — 311 (Credit) provision(311)85 334 655 3 (113)653 (2)March 31, 2024$5,620 $671 $1,199 $6,280 $7 $— $13,777 (1) The provision on credit losses included in the above table for the three months ended March 31, 2025 does not include the credit on unfunded loan commitments of $23,000.(2) The provision on credit losses included in the above table for the three months ended March 31, 2024 does not include the provsion on unfunded loan commitments of $5,000.

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