Company: PNBK
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040370
Chunk: 176

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 176
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 sale totaling $283,000 and $4.3 million, respectively. These loans are recorded at the lower of aggregate cost or market value. For the three and six months ended June 30, 2025, a total gain on sale of $43,000 and $79,000 was recorded, respectively. A servicing asset of $62,000 was recognized for the three and six months ended June 30, 2025. For the three and six months ended June 30, 2024, a total gain on sale of $10,000 was recorded and no servicing asset was recognized. During the three and six months ended June 30, 2025, $3.8 million residential mortgage loans previously classified as held for sale were transferred to held for investment. No residential mortgage held for sale loans were transferred to held for investment in the three and six months ended June 30, 2024.

The following table presents an analysis of the activity in the servicing assets for SBA loans and residential mortgage loans for the three and six months ended June 30, 2025 and 2024:Three Month Ended June 30,Six Months Ended June 30,(In thousands)2025202420252024Beginning balance$764 $902 $766 $857 Servicing rights capitalized22 9 48 73 Servicing rights amortized(20)(15)(34)(34)Servicing rights disposed(20)(106)(34)(106)Ending balance$746 $790 $746 $790 

Note 6.    Deposits

The following table presents the balance of deposits held, by category as of June 30, 2025 and December 31, 2024:(In thousands)June 30, 2025December 31, 2024Non-interest bearing$106,950 $119,212 Interest bearing:Negotiable order of withdrawal accounts23,865 31,549 Savings deposits34,081 38,743 Interest bearing DDA186,591 205,995 Money market194,227 262,023 Certificates of deposit, $250,000 or less159,260 174,095 Certificates of deposit, more than $250,00058,761 65,278 Brokered deposits67,122 69,702 Interest bearing, Total723,907 847,385 Total Deposits$830,857 $966,597 

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