Company: PNBK
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052358
Chunk: 235

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 235
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 for credit losses(7,712)(14,646)OREO394 2,843 Other assets44,463 46,832 Total Assets$927,201 $967,632 LiabilitiesInterest bearing liabilities:Deposits$743,806 $6,090 3.25 %$699,661 $6,189 3.51 %Borrowings— — — %86,527 926 4.25 %Senior notes2,860 105 14.69 %11,805 290 9.83 %Subordinated debt16,432 338 8.16 %18,029 409 9.00 %Note Payable17 — — %232 1 1.71 %Total interest bearing liabilities763,115 6,533 3.40 %816,254 7,815 3.80 %Demand deposits79,678 101,026 Other liabilities7,950 8,609 Total Liabilities850,743 925,889 Shareholders' equity76,458 41,743 Total Liabilities and Shareholders' Equity$927,201 $967,632 Net interest income$5,010 $4,999 Interest margin2.23 %2.18 %Interest spread1.74 %1.80 %

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

(In thousands)Nine Months Ended September 30,20252024Average BalanceInterestYieldAverage BalanceInterestYieldAssetsInterest earning assets:Loans$651,773 $27,648 5.67 %$810,086 $36,345 5.98 %Investments88,739 1,807 2.72 %96,209 2,171 3.01 %Cash equivalents and restricted cash184,767 6,130 4.44 %37,851 1,516 5.34 %Total interest earning assets925,279 35,585 5.14 %944,146 40,032 5.65 %Cash and due from banks2,603 13,468 Allowance for credit losses(8,106)(14,