Company: PNBK
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040370
Chunk: 112

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 112
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 allowance for credit losses on loans by portfolio segment:

(In thousands)June 30, 2025December 31, 2024Allowance for credit lossesPercent of loans in each category to total loansAllowance for credit lossesPercent of loans in each category to total loansCommercial Real Estate$2,436 63.04 %$2,241 59.30 %Residential Real Estate519 10.23 %596 13.03 %Commercial and Industrial1,785 20.79 %1,077 18.32 %Consumer and Other3,050 5.68 %3,386 8.48 %Construction5 0.25 %5 0.54 %Construction to permanent - CRE— 0.01 %— 0.33 %Total Allowance for credit losses$7,795 100.00 %$7,305 100.00 %

Non-performing Assets

The following table presents non-performing assets as of June 30, 2025 and December 31, 2024:

June 30, 2025December 31, 2024Non-accruing loans:Commercial Real Estate$20,893 $19,334 Residential Real Estate— 109 Commercial and Industrial2,869 3,341 Consumer and Other453 730 Construction to Permanent - CRE31 2,357 Total non-accruing loans24,246 25,871 Other real estate owned$2,590 $2,843 Total nonperforming assets$26,836 $28,714 Nonperforming assets to total assets2.89 %2.84 %Nonperforming loans to total loans, net4.18 %3.69 %

As of June 30, 2025, non-accrual loans decreased to $24.2 million, compared to $25.9 million as of December 31, 2024. The non-accrual loans at June 30, 2025 was comprised of 166 borrowers. Of these, 14 loans were individually evaluated, and the specific reserve was zero. All individually evaluated loans were collateral dependent loans, the Bank has obtained appraisal reports from independent licensed appraisal firms and discounted those values based on the Bank’s experience selling OREO properties and for estimated selling costs to determine estimated impairment. No individually evaluated loans were cash flow