Company: PNBK
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052358
Chunk: 122

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 122
---
(42,641)(21.83)%Money market - Digital Payments 10,220 66,654 (56,434)(84.67)%Certificates of deposit, $250,000 or less119,329 162,533 (43,204)(26.58)%Certificates of deposit, more than $250,00060,221 65,278 (5,057)(7.75)%Specialty - Other Deposits16,178 — 16,178 — %Brokered deposits170,470 176,811 (6,341)(3.59)%Total Interest bearing743,089 847,385 (104,296)(12.31)%Total Deposits$830,855 $966,597 $(135,742)(14.04)%Total Digital Payments deposits$236,886 $265,542 (28,656)-10.79 %Total retail branch bank deposits$352,388 $412,960 $(60,572)(14.67)%Total uninsured deposits$162,347 $297,845 $(135,498)(45.49)%Uninsured deposits to total deposits19.54 %30.81 %

Total deposits decreased by $135.7 million, from $966.6 million as of December 31, 2024, to $830.9 million as of September 30, 2025. 

Non-GAAP Financial Measures:

In addition to evaluating the Company's financial performance in accordance with U.S. GAAP, management may evaluate certain non-GAAP financial measures, such as uninsured deposits to total deposits excluding Digital Payments deposits. A computation and reconciliation of non-GAAP financial measures used for these purposes is contained in the accompanying Reconciliation of U.S. GAAP to Non-GAAP Measures tables. We believe that by excluding Digital Payments deposits, management can present a view of uninsured deposits that better reflects the Company's traditional deposit base, providing investors with useful information for understanding our uninsured deposits position and financial stability. Digital Payments deposits are analyzed for FDIC insurance at the Program Manager level. Certain accounts are reciprocal deposits through the IntraFi network and therefore the entire deposit balances qualify for FDIC insurance.  The remaining deposit balances are aggregated at the Program Manager level, and any deposits exceeding $250,000 are considered uninsured. 

60

The non-GAAP financial measures should not be considered a substitute for GAAP basis measures and results, and we strongly encourage investors to review