Company: PNBK
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040370
Chunk: 89

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 89
---
4,503 101 4.52 %112,204 2,428 4.34 %Senior notes8,932 505 11.31 %11,752 579 9.85 %Subordinated debt17,021 702 8.32 %18,014 810 9.02 %Note Payable97 1 2.08 %312 3 1.93 %Total interest bearing liabilities847,741 15,900 3.78 %868,496 16,791 3.88 %Demand deposits90,192 104,485 Other liabilities7,241 6,795 Total Liabilities945,174 979,776 Shareholders' equity36,502 44,064 Total Liabilities and Shareholders' Equity$981,676 $1,023,840 Net interest income$8,142 $10,427 Interest margin1.74 %2.17 %Interest spread1.36 %1.79 %

61

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 six months ended June 30, 2025 and 2024.

Three Months Ended June 30,Six Months Ended June 30,2025 compared to 20242025 compared to 2024(In thousands)Increase/(Decrease)Increase/(Decrease)VolumeRateTotalVolumeRateTotalInterest earning assets:Loans$(2,251)$(639)$(2,890)$(4,463)$(1,095)$(5,558)Investments(73)(51)(124)(167)(114)(281)Cash equivalents and other1,607 (316)1,291 3,357 (694)2,663 Total interest earning assets(717)(1,006)(1,723)(1,273)(1,903)(3,176)Interest bearing liabilities:Deposit794 (286)508 1,967 (347)1,620 Borrowings(1,211)— (1,211)(2,330)3 (2,327)Senior notes(125)19 (106)(138)64 (74)