Company: PNBK
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052358
Chunk: 209

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 209
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will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Forward-looking statements are not guarantees of future performance. Although Patriot believes that the expectations reflected in any forward-looking statements are based on reasonable assumptions, these expectations may not be attained and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks, uncertainties and changes in circumstances, many of which are beyond Patriot’s control.

Many possible events or factors could affect Patriot’s future financial results and performance and could cause the actual results, performance or achievements of Patriot to differ materially from any anticipated results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others:

(1)We are operating under a formal agreement with the Office of the Comptroller of the Currency (“OCC”) requiring our Board of Directors to implement enhancements in strategic planning, capital planning, Bank Secrecy Act/Anti-Money Laundering compliance, payment activities oversight, credit administration, and concentration risk management. The agreement reflects the OCC’s supervisory view that our controls in these areas must be strengthened. Failure to meet the agreement’s requirements on a timely basis could result in additional regulatory actions or restrictions, which could adversely affect our operations and financial condition.

(2)Our Digital Payments Division relies on third-party program managers and processors to operate programs under our Bank Identification Numbers. Because certain transactions occur through their systems, our visibility and direct control over all activities may be limited. This structure increases our exposure to fraud, compliance failures, and operational issues by third parties, which could result in financial losses, regulatory action, network penalties, and reputational harm.

(3)changes in prevailing interest rates which would affect the interest earned on the Company’s interest earning assets and the interest paid on its interest bearing liabilities;

(4)the timing of re-pricing of the Company’s interest earning assets and interest bearing liabilities;

(5)the effect of changes in governmental monetary policy;

(6)the effect of changes in regulations applicable to the Company and the Bank and the conduct of its business;

(7)changes in competition among financial service companies, including possible further encroachment of non-banks on services traditionally provided by banks;

(8)the ability of competitors that are larger than the Company to provide products and services which it is impractic