Company: PNBK
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040370
Chunk: 60

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 60
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,968 $10,189 $11,123 $10,262 Unrealized gain509 176 354 103 Level 3 fair value, end of period$11,477 $10,365 $11,477 $10,365 Patriot discloses fair value information about financial instruments, whether or not recognized in the consolidated balance sheet, for which it is practicable to estimate that value. Certain financial instruments are excluded from disclosure requirements and, accordingly, the aggregate fair value amounts presented do not necessarily represent the complete underlying value of financial instruments included in the consolidated financial statements.

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Table of ContentsPATRIOT NATIONAL BANCORP, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements (Unaudited)

Patriot measures certain financial assets and financial liabilities at fair value on a non-recurring basis. When circumstances dictate (e.g., impairment of long-lived assets, other than temporary impairment of collateral value), the carrying values of such financial assets and financial liabilities are adjusted to fair value or fair value less costs to sell, as may be appropriate.The table below presents the valuation methodology and unobservable inputs for level 3 assets measured at fair value on a non-recurring basis as of June 30, 2025 and December 31, 2024:(In thousands)Fair Value Valuation Methodology Unobservable Inputs Range of Inputs June 30, 2025: Individually evaluated loans, net$23,779 Real Estate AppraisalsDiscount for appraisal type8.0 %-20%   Servicing assets778 Discounted Cash FlowsMarket discount rates14.73 %-14.90% December 31, 2024:  Individually evaluated loans, net$24,552 Real Estate AppraisalsDiscount for appraisal type5.8 %-20% Servicing assets852 Discounted Cash FlowsMarket discount rates14.73 %-14.90%The estimated fair value amounts have been measured as of June 30, 2025 and December 31, 2024, and have not been reevaluated or updated for purposes of these consolidated financial statements subsequent to those respective dates. As such, the estimated fair values of the financial instruments measured may be different than if they had been subsequently valued.The information presented should not be interpreted as an estimate of the total fair value of Patriot’s assets and liabilities, since only a portion of Patriot’s assets and liabilities