Company: PNBK
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052358
Chunk: 114

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 114
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 and nine months ended September  30, 2024.  

SBA loans held for investment were included in the commercial real estate loans and commercial and industrial loan classifications above. As of September 30, 2025 and December 31, 2024, SBA loans included in the commercial real estate loans were $9.9 million and $18.7 million, respectively. As of September 30, 2025 and December 31, 2024, SBA loans included in the commercial and industrial loans were $8.8 million and $11.2 million, respectively. 

At September 30, 2025, the net loan to deposit ratio was 70.0% and the net loan to total assets ratio was 61.2%. At December 31, 2024, these ratios were 72.4% and 69.2%, respectively.

Commercial Real Estate Loans ("CRE")

The following table provides the composition of the commercial real estate loan portfolio segment as of September 30, 2025 and December 31, 2024:

(In thousands)September 30, 2025December 31, 2024Amount%Amount%Commercial Real EstateCRE owner occupied$70,342 19.50 %$83,934 20.01 %CRE multifamily50,602 14.02 %77,443 18.46 %CRE office35,505 9.84 %55,900 13.33 %CRE retail44,394 12.30 %46,946 11.19 %Other CRE non-owner occupied159,959 44.33 %155,266 37.01 %Total $360,802 100.00 %$419,489 100.00 %

The following table provides the commercial real estate loan portfolio segment by geographic concentrations as of September 30, 2025 and December 31, 2024:

(In thousands)September 30, 2025December 31, 2024Amount%Amount%New York$176,628 48.95 %$208,093 49.61 %Connecticut79,309 21.98 %98,342 23.44 %New Jersey23,632 6.55 %26,861 6.40 %Outside Market (1)81,234 22.51 %86,193 20.55 %