Company: PNBK
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001628280-25-017837
Chunk: 21

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 21
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—— 6,161 (14,008)(7,847)Share-based compensation expense—86 — — 86 Vesting of restricted stock8,694— — — — Balance at December 31, 20223,965,186106,565 (31,337)(15,645)59,583 Transition adjustment related to adoption of ASC326, net of tax—— (11,510)— (11,510)Comprehensive (loss) income:Net loss—— (4,179)— (4,179)Unrealized holding gain on available-for-sale securities, net of tax—— — 384 384 Total comprehensive (loss) income—— (4,179)384 (3,795)Share-based compensation expense—105 — — 105 Vesting of restricted stock10,887— — — — Balance at December 31, 20233,976,073106,670 (47,026)(15,261)44,383 Comprehensive (loss) income:Net loss—— (39,882)— (39,882)Unrealized holding loss on available-for-sale securities, net of tax—— — (420)(420)Total comprehensive loss—— (39,882)(420)(40,302)Share-based compensation expense—184 — — 184 Vesting of restricted stock15,779— — — — Balance at December 31, 20243,991,852$106,854 $(86,908)$(15,681)$4,265 

See Accompanying Notes to Consolidated Financial Statements.

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Table of ContentsPATRIOT NATIONAL BANCORP, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)Year Ended December 31,202420232022Cash Flows from Operating Activities:Net (loss) income$(39,882)$(4,179)$6,161 Adjustments to reconcile net loss to net cash provided by (used in) operating activities:Accretion of investment premiums and discounts, net(160)(116)(51)Amortization and accretion of purchase loan premiums and discounts, net17 1,902 2,722 Amortization of debt issuance costs177 177 38 Amortization of core deposit intangible47