Company: PNBK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001628280-25-025485
Chunk: 139

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 139
---
275 $639 $1,168 $2,607 $8 $32 $6,729 Three Months Ended March 31, 2024Allowance for credit losses:December 31, 2023$6,089 $607 $1,269 $7,843 $4 $113 $15,925 Charge-offs(158)(21)(410)(2,523)— — (3,112)Recoveries— — 6 305 — — 311 (Credit) provision(311)85 334 655 3 (113)653 (2)March 31, 2024$5,620 $671 $1,199 $6,280 $7 $— $13,777 (1) The provision on credit losses included in the above table for the three months ended March 31, 2025 does not include the credit on unfunded loan commitments of $23,000.(2) The provision on credit losses included in the above table for the three months ended March 31, 2024 does not include the provsion on unfunded loan commitments of $5,000.

The following tables summarize, by loan portfolio segment, the amount of loans receivable evaluated individually and collectively for allowance for credit losses as of March 31, 2025 and December 31, 2024:(In thousands)Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer and Other Construction Construction to Permanent - CRE Total March 31, 2025Allowance for credit losses:Individually evaluated loans$278 $— $— $— $— $32 $310 Collectively evaluated loans1,997 639 1,168 2,607 8 — 6,419 Total allowance for credit losses$2,275 $639 $1,168 $2,607 $8 $32 $6,729 Loans receivable, gross:Individually evaluated loans$23,708 $— $2,922 $— $— $2,357 $28,987 Collectively evaluated loans377,695 90,753 119,453 53,498 3,823 — 645,222 Total loans receivable, gross$401,403 $90,753 $