Company: PNBK
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052358
Chunk: 41

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 ended September 30, 2025, a total gain on sale of $0 and $79,000 was recorded, respectively. As of September 30, 2025 and December 31, 2024, the Company reported a servicing asset related to sold mortgage loans of  $72,000 and $27,000, respectively. As of September 30, 2024 and December 31, 2023, the Company reported a servicing asset related to sold mortgage loans of $8,000 and $0, respectively. During the three and nine months ended September 30, 2025, $0.3 million and $4.0 million, respectively, of residential mortgage loans previously classified as held for sale were transferred to held for investment. No residential mortgage held for sale loans were transferred to held for investment in the three and nine months ended September 30, 2024.

The following table presents an analysis of the activity in the servicing assets for SBA loans and residential mortgage loans for the three and nine months ended September 30, 2025 and 2024:Three Month Ended September 30,Nine Months Ended September 30,(In thousands)2025202420252024Beginning balance$745 $790 $766 $857 Servicing rights capitalized— 38 48 111 Servicing rights amortized— (15)(33)(49)Servicing rights disposed(76)(22)(112)(128)Ending balance$669 $791 $669 $791 

Note 6.    Deposits

The following table presents the balance of deposits held, by category as of September 30, 2025 and December 31, 2024:(In thousands)September 30, 2025December 31, 2024Non-interest bearing$87,766 $119,212 Interest bearing:Negotiable order of withdrawal accounts22,845 31,549 Savings deposits32,478 38,743 Interest bearing DDA158,620 110,448 Money market162,948 262,023 Certificates of deposit, $250,000 or less119,329 162,533 Certificates of deposit, more than $250,00060,221 65,278 Specialty - Other Deposits16,178 — Brokered deposits170,470 176,811 Interest bearing, total743,089 847,385 Total Deposits$830,