Company: PNBK
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052358
Chunk: 94

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 94
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.01 %Note Payable70 1 1.91 %285 4 1.87 %Total interest bearing liabilities819,220 22,433 3.66 %850,955 24,606 3.85 %Demand deposits86,649 103,323 Other liabilities7,482 7,404 Total Liabilities913,351 961,682 Shareholders' equity49,967 43,285 Total Liabilities and Shareholders' Equity$963,318 $1,004,967 Net interest income$13,152 $15,426 Interest margin1.90 %2.18 %Interest spread1.48 %1.80 %

67

The following table presents the change in interest-earning assets and interest-bearing liabilities by major category and the related change in the interest income earned and interest expense incurred thereon attributable to the change in transactional volume in the financial instruments and the rates of interest applicable thereto, comparing the three and nine months ended September 30, 2025 and 2024.

Three Months Ended September 30,Nine Months Ended September 30,2025 compared to 20242025 compared to 2024(In thousands)Increase/(Decrease)Increase/(Decrease)VolumeRateTotalVolumeRateTotalInterest earning assets:Loans$(2,902)$(237)$(3,139)$(6,529)$(1,367)$(7,896)Investments(77)(7)(84)(243)(121)(364)Cash equivalents and other2,527 (574)1,953 5,862 (1,249)4,613 Total interest earning assets(452)(818)(1,270)(910)(2,737)(3,647)Interest bearing liabilities:Deposit335 (434)(99)2,268 (748)1,520 Borrowings— — — (3,256)4 (3,252)Senior notes(219)35 (184)(360)102 (258)Subordinated debt(37)(36)(73)(84)(96)(180)Note payable and other(2)— (2)(3)— (3)Total interest bearing liabilities77 (435)(358)(1,435)(738)(2,173)Decrease in net interest income$(529)$(383)$(912)$525 $(1,999