Company: PNBK
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052358
Chunk: 208

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 208
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 actual results in assessing the Company’s segment and in the determination of allocating resources. The CODM uses consolidated net income to benchmark the Company against its competitors. The benchmarking analysis coupled with monitoring of budget to actual results on a consolidated basis are used in assessment performance and in establishing compensation. Interest earning assets consist of commercial and consumer loans, investment securities and cash and provide the majority of interest income in the Community Banking segment. Interest bearing liabilities consist of non-maturity and time deposits, FHLB and FRB advances and other borrowings and generate the majority of interest expense. The consolidated results of operations also include provisions for credit losses, non-interest income and expenses. All operations are domestic.

The Company's segment assets represent its total assets as presented in the Consolidated Balance Sheet. 

Note 15.  Subsequent Events 

The Company has evaluated events and transactions occurring subsequent to September 30, 2025, through the date the financial statements were issued. Based on this evaluation, management determined that there were no events requiring adjustment to, or disclosure in, the accompanying Consolidated Financial Statements. Specifically, there were no material changes in capital stock, long-term debt, working capital, or commitments; no significant contingent liabilities; and no changes in accounting policies or internal controls. There were no impairments, losses, or other matters affecting asset values. The analysis of the allowance for credit losses was completed, reviewed, and approved by management and the appropriate Board committee, with no significant changes noted in methodology or classifications. Except for routine investment transactions, there were no significant sales or purchases of investments other than those reported as of September 30, 2025.

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Table of Contents

Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations

"Safe Harbor" Statement Under Private Securities Litigation Reform Act of 1995

This Quarterly Report on Form 10-Q contains statements that relate to future events and expectations and, as such, constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Certain statements, other than purely historical information, including estimates, projections, statements relating to our strategies, outlook, business and financial prospects, business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements.” These forward-looking statements generally are identified by the words “believes,” “project,” “expects,” “anticipates,” “estimates,” “intends,” “strategy,” “plan,” “may,” “