Company: PNBK
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052358
Chunk: 241

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 241
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.  This program started in the third quarter of 2023 and continues today. The activity generates non-interest income and only requires short term liquidity as the loans are originated and expected to be sold within three days.  

70

Net cash provided by investing activities increased by $11.5 million for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. The increase is primarily due to higher payments received on loans receivable portfolio.  

Net cash used by financing activities increased by $36.5 million for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. The decrease is primarily due to utilizing the proceeds from the Common and Preferred stock issuances and excess cash to lower deposits. This was offset by lower repayments on FHLB advances, net as the Bank did not require as much FHLB funding due to the net cash provided by lower loan originations and loan purchases. 

Management manages its capital resources by seeking to maintain a capital structure that will ensure an adequate level of capital to support anticipated asset growth and absorb potential losses while effectively leveraging capital to enhance profitability and return to shareholders. Dividends have not been paid to shareholders since 2020.

The primary source of liquidity at the Company is returns of capital from the Bank. The Private Placement provided liquidity to the Company for future debt service and payment of expenses. The capital returns from the Bank are subject to OCC approval and are needed periodically to provide funds needed to service debt payments at the Company.

Regulatory Capital Requirements

The following tables illustrate the Company’s and the Bank’s regulatory capital ratios at September 30, 2025 and December 31, 2024:                                                

September 30, 2025December 31, 2024Patriot National Bancorp, Inc.Patriot Bank, N.A.Patriot National Bancorp, Inc.Patriot Bank, N.A.(Dollar amounts in thousands)AmountRatioAmountRatioAmountRatioAmountRatioTotal Capital (to risk weighted assets)$130,042 21.29 %$117,368 19.19 %$44,534 6.07 %$56,536 7.71 %Individual minimum capital ratio— — %70,327 11.50 %— — %84,306 11.50 %Tier 1 Capital (to risk weighted assets)