Company: PNBK
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040370
Chunk: 40

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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$119,212 Interest bearing:Negotiable order of withdrawal accounts23,865 31,549 Savings deposits34,081 38,743 Interest bearing DDA186,591 205,995 Money market194,227 262,023 Certificates of deposit, $250,000 or less159,260 174,095 Certificates of deposit, more than $250,00058,761 65,278 Brokered deposits67,122 69,702 Interest bearing, Total723,907 847,385 Total Deposits$830,857 $966,597 

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Table of ContentsPATRIOT NATIONAL BANCORP, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements (Unaudited)

The deposits from Digital Payments Division are included in the non-interest-bearing deposits, interest bearing demand deposit accounts ("DDA") and money market deposits, and totaled approximately $216.9 million and $265.5 million as of June 30, 2025 and December 31, 2024, respectively. Interest Bearing DDA is net of deposits sold through the IntraFi network.  There were $24.7 million in deposits sold as of June 30, 2025, and no deposits sold as of December 31, 2024.As of June 30, 2025, contractual maturities of Certificates of Deposit (“CDs”), and brokered deposits is summarized as follows:(In thousands)Certificates of Deposit $250,000 or lessCertificates of Deposit  more than $250,000Brokered Deposits Total 1 year or less$134,836 $51,913 $35,215 $221,964 More than 1 year through 2 years23,407 6,597 31,907 61,911 More than 2 years through 3 years764 251 — 1,015 More than 3 years through 4 years185 — — 185 More than 4 years through 5 years68 — — 68 $159,260 $58,761 $67,122 $285,143 

Note 7.    Derivatives

Patriot is party to interest rate swap derivatives that are not designated as hedging instruments. Under a program, Patriot will execute interest rate swaps with commercial lending customers to facilitate their respective risk management strategies. These interest rate swaps