Company: PNBK
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001628280-25-017837
Chunk: 96

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-04-15
Form: 10-K
Item: Item 7
Chunk 96
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(In thousands)Year Ended December 31,202420232022Average BalanceInterestYieldAverage BalanceInterestYieldAverage BalanceInterestYieldAssetsInterest earning assets:Loans$795,236 $47,322 5.93 %$896,500 $54,310 6.06 %$831,634 $40,823 4.91 %Investments95,838 2,852 2.98 %99,546 3,157 3.17 %96,770 2,691 2.78 %Cash equivalents and restricted cash43,125 2,188 5.06 %25,140 1,490 5.93 %32,229 498 1.55 %Total interest earning assets934,199 52,362 5.59 %1,021,186 58,957 5.77 %960,633 44,012 4.58 %Cash and due from banks2,711 3,172 8,091 Allowance for credit losses(14,139)(22,596)(9,762)OREO2,843 138 — Other assets62,827 69,923 66,440 Total Assets$988,441 $1,071,823 $1,025,402 LiabilitiesInterest bearing liabilities:Deposits$730,836 $26,049 3.55 %$711,479 $21,668 3.05 %$572,295 $5,300 0.93 %Borrowings80,048 3,476 4.33 %134,570 6,141 4.56 %106,292 3,509 3.30 %Senior notes11,787 1,159 9.83 %11,654 1,159 9.95 %12,002 866 7.22 %Subordinated debt18,024 1,596 8.83 %17,985 1,481 8.23 %17,947 1,066 5.94 %Note Payable258 5 1.93 %469 8 1.71 %678 12 1.77 %Total interest bearing liabilities840,953 32,285 3.83 %