Company: PNBK
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040370
Chunk: 125

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 125
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019 404 8.99 %Note Payable70 — — %286 2 2.80 %Total interest bearing liabilities793,520 7,306 3.69 %848,737 8,194 3.87 %Demand deposits86,353 103,158 Other liabilities7,598 7,038 Total Liabilities887,471 958,933 Shareholders' equity60,548 43,357 Total Liabilities and Shareholders' Equity$948,019 $1,002,290 Net interest income$4,188 $5,023 Interest margin1.85 %2.14 %Interest spread1.39 %1.77 %

60

The following tables present daily average balance sheets, interest income, interest expense and the corresponding yields earned and rates paid for the six months ended June 30, 2025 and 2024:

(In thousands)Six Months Ended June 30,20252024Average BalanceInterestYieldAverage BalanceInterestYieldAssetsInterest earning assets:Loans$683,959 $19,083 5.63 %$823,380 $24,641 6.00 %Investments86,895 1,161 2.67 %95,984 1,442 3.00 %Cash equivalents and restricted cash171,509 3,798 4.47 %43,079 1,135 5.28 %Total interest earning assets942,363 24,042 5.14 %962,443 27,218 5.67 %Cash and due from banks2,632 7,814 Allowance for credit losses(8,306)(13,868)OREO2,714 2,843 Other assets42,273 64,608 Total Assets$981,676 $1,023,840 LiabilitiesInterest bearing liabilities:Deposits$817,188 $14,591 3.60 %$726,214 $12,971 3.58 %Borrowings4,503 101 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 %