Company: PNBK
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052358
Chunk: 132

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 132
---
2024:

(In thousands)Nine Months Ended September 30,20252024Average BalanceInterestYieldAverage BalanceInterestYieldAssetsInterest earning assets:Loans$651,773 $27,648 5.67 %$810,086 $36,345 5.98 %Investments88,739 1,807 2.72 %96,209 2,171 3.01 %Cash equivalents and restricted cash184,767 6,130 4.44 %37,851 1,516 5.34 %Total interest earning assets925,279 35,585 5.14 %944,146 40,032 5.65 %Cash and due from banks2,603 13,468 Allowance for credit losses(8,106)(14,129)OREO1,932 2,843 Other assets41,610 58,639 Total Assets$963,318 $1,004,967 LiabilitiesInterest bearing liabilities:Deposits$792,458 $20,681 3.49 %$717,299 $19,160 3.56 %Borrowings2,985 101 4.52 %103,582 3,354 4.31 %Senior notes6,885 610 11.81 %11,770 869 9.84 %Subordinated debt16,822 1,040 8.27 %18,019 1,219 9.01 %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