Company: PNBK
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001628280-25-017837
Chunk: 9

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 9
---
,107 — Other operating expense2,778 3,053 2,136 Total non-interest expense32,081 32,709 27,222 (Loss) income before income taxes(16,097)(5,633)7,757 Provision (benefit) for income taxes23,785 (1,454)1,596 Net (loss) income$(39,882)$(4,179)$6,161 Basic (loss) earnings per share$(10.03)$(1.05)$1.56 Diluted (loss) earnings per share$(10.03)$(1.05)$1.55 

See Accompanying Notes to Consolidated Financial Statements.

46

Table of ContentsPATRIOT NATIONAL BANCORP, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(In thousands)Year Ended December 31,202420232022Net (loss) income$(39,882)$(4,179)$6,161 Other comprehensive incomeUnrealized holding gain (loss) on securities280 240 (18,879)Reclassification for realized loss (gain) on sale of investment securities334 (24)— Net change in unrealized gain (loss)614 216 (18,879)Income tax (expense) benefit(1,034)168 4,871 Unrealized (loss) gain on securities, net of tax(420)384 (14,008)Total other comprehensive (loss) income(420)384 (14,008)Comprehensive loss$(40,302)$(3,795)$(7,847)

See Accompanying Notes to Consolidated Financial Statements.

47

Table of ContentsPATRIOT NATIONAL BANCORP, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY 

(In thousands, except shares)Number of SharesCommonStockAccumulatedDeficitAccumulatedOtherComprehensive(Loss) IncomeTotalBalance at January 1, 20223,956,492$106,479 $(37,498)$(1,637)$67,344 Comprehensive loss:Net income—— 6,161 — 6,161 Unrealized holding loss on available-for-sale securities, net of tax—— — (14,008)(14,008)Total comprehensive income (loss)