Company: PNBK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001628280-25-025485
Chunk: 93

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 2
Chunk 93
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2024 to $674.2 million at March 31, 2025. The Company has continued the trend of restricting loan growth and allowing loans to pay down as the balance sheet is reduced in order to strengthen capital ratios. 

SBA loans held for investment were included in the commercial real estate loans and commercial and industrial loan classifications above. As of March 31, 2025 and December 31, 2024, SBA loans included in the commercial real estate loans were $17.0 million and $18.7 million, respectively. SBA loans included in the commercial and industrial loans were $10.6 million and $11.2 million, respectively. 

At March 31, 2025, the net loan to deposit ratio was 77.4% and the net loan to total assets ratio was 69.8%. At December 31, 2024, these ratios were 72.4% and 69.2%, respectively.

The following table provides the composition of the commercial real estate loan portfolio segment as of March 31, 2025 and December 31, 2024:

(In thousands)March 31, 2025December 31, 2024Amount%Amount%Commercial Real EstateCRE owner occupied$83,845 20.89 %$83,934 20.01 %CRE multifamily71,155 17.73 %77,443 18.46 %CRE office50,657 12.62 %55,900 13.33 %CRE retail46,484 11.58 %46,946 11.19 %Other CRE non-owner occupied149,262 37.19 %155,266 37.01 %Total $401,403 100.00 %$419,489 100.00 %

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The following table provides the commercial real estate loan portfolio segment by geographic concentrations as of March 31, 2025 and December 31, 2024:

(In thousands)March 31, 2025December 31, 2024Amount%Amount%New York$198,670 49.49 %$208,093 49.61 %Connecticut95,089 23.69 %98,342 23.44 %New Jersey24,416 6.08 %26,861 6.40 %Outside Market (1)83,228 20.73