Company: PNBK
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052358
Chunk: 220

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 220
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 12 bps across total loans.

The following table provides detail of activity in the allowance for credit losses on loans for the three and nine months ended September 30, 2025 and 2024:

Three Months Ended September 30,Nine Months Ended September 30,(In thousands)2025202420252024Balance at beginning of the period$7,795 $14,989 $7,305 $15,925 Charge-offs:Commercial Real Estate(144)(124)(779)(282)Residential Real Estate— — — (21)Commercial and Industrial— (122)(130)(936)Consumer and Other(292)(1,266)(1,962)(5,638)Total charge-offs(436)(1,512)(2,871)(6,877)Recoveries:Residential Real Estate1 — 1 — Commercial and Industrial3 160 109 238 Consumer and Other227 263 688 828 Total recoveries231 423 798 1,066 Net charge-offs(205)(1,089)(2,073)(5,811)Provision for credit losses(403)1,084 1,955 4,870 Balance at end of the period$7,187 $14,984 $7,187 $14,984 Ratios:Net charge-offs to average loans (annualized)(0.14)%(0.56)%(0.42)%(0.96)%Allowance for credit losses to total loans1.22 %1.98 %1.22 %1.98 %Allowance for credit losses to nonaccrual loans27.67 %41.01 %27.67 %41.01 %

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For the three months ended September 30, 2025, net charge-offs decreased $1.9 million to $205,000, with a net charge-offs to average loans ratio of 0.14%, compared to $1.1 million and 0.56% for the three months ended September 30, 2024. 

For the nine months ended September 30, 2025, net charge-offs declined $3.7 million to $2.1 million, with a net charge-offs to average loans ratio of 0.36% , down from $5.8 million and 0.96% for the nine months ended September 30