Company: PNBK
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040370
Chunk: 1

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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 shares authorized; As of June 30, 2025: 90,832 shares issued and outstanding; As of December 31, 2024: no shares issued and outstanding.5,099 — Common stock, $.01 par value, 100,000,000 shares authorized; As of June 30, 2025: 85,869,969 shares issued; 85,796,228 shares outstanding; As of December 31, 2024: 4,065,593 shares issued; 3,991,852 shares outstanding.169,223 106,854 Accumulated deficit(94,686)(86,908)Accumulated other comprehensive loss(13,435)(15,681)Total shareholders' equity66,201 4,265 Total liabilities and shareholders' equity$929,953 $1,012,292 

See Accompanying Notes to Consolidated Financial Statements.

3

PATRIOT NATIONAL BANCORP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

Three Months Ended June 30,Six Months Ended June 30,(In thousands, except per share amounts)2025202420252024Interest and Dividend IncomeInterest and fees on loans$9,103 $11,993 $19,083 $24,641 Interest on investment securities548 632 1,096 1,293 Dividends on investment securities38 78 65 149 Other interest income1,805 514 3,798 1,135 Total interest and dividend income11,494 13,217 24,042 27,218     Interest Expense    Interest on deposits6,793 6,285 14,591 12,971 Interest on FHLB, FRB and correspondent bank borrowings3 1,214 101 2,428 Interest on senior debt183 289 505 579 Interest on subordinated debt327 404 702 810 Interest on note payable— 2 1 3 Total interest expense7,306 8,194 15,900 16,791     Net interest income4,188 5,023 8,142 10,427     Provision for credit losses1,524 3,092 2,257 3,750     Net interest income after provision for credit losses2,