Company: PNBK
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040370
Chunk: 94

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 94
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 provided by investing activities increased by $50.3 million for the six months ended June 30, 2025 compared to the compared to the six months ended June 30, 2024. The increase is primarily due to higher payments received on loans receivable portfolio.  

Net cash provided by financing activities decreased by $24.3 million for the six months ended June 30, 2025 compared to the compared to the six months ended June 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 June 30, 2025 and December 31, 2024:                                                

June 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)$103,357 16.48 %$102,531 16.34 %$44,534 6.07 %$56,536 7.71 %Individual minimum capital ratio— — %72,141 11.50 %— — %84,306 11.50 %Tier 1 Capital (to risk weighted assets)90,380 14.41 %97,902 15.61 %33,545 4.57 %55,546 7.58 %Individual minimum capital ratio—