Company: PNBK
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052358
Chunk: 74

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 74
---
62.56 %Corporate bonds13,495 12,735 760 5.97 %Subordinated notes3,625 3,461 164 4.74 %SBA loan pools3,339 3,573 (234)(6.55)%Total available-for-sale securities, at fair value105,549 79,992 25,557 31.95 %Other investments, at cost— 4,450 (4,450)(100.00)%Total investment securities$105,549 $84,442 $21,107 25.00 %

Total investments increased by $21.1 million, from $84.4 million at December 31, 2024 to $105.5 million at September 30, 2025. The increase in the nine months ended September 30, 2025 was primarily attributable to a $25 million purchase, $4.5 million reduction in Other Investment, $3.8 million reduction in unrealized losses on securities, partially offset by principal paydown of $3.4 million.  During the nine months ended September 30, 2025, the Bank did not sell any available-for-sale securities.

As of September 30, 2025 and December 31, 2024, forty-two out of forty-six and 44 out of 44, respectively, available-for-sale securities had unrealized losses with an aggregate decline of 15.6% and 20.2% from the amortized cost of those securities, respectively.

Loans held for investment 

The following table provides the composition of the Company’s loan held for investment portfolio as of September 30, 2025 and December 31, 2024:

(In thousands)September 30, 2025December 31, 2024Amount%Amount%Loan portfolio segment:Commercial Real Estate$360,802 61.29 %419,489 59.30 %Residential Real Estate83,671 14.21 %92,215 13.03 %Commercial and Industrial123,358 20.96 %129,608 18.32 %Consumer and Other20,802 3.53 %59,973 8.48 %Construction— — %3,830 0.54 %Construction to permanent - CRE31 0.01 %2,357 0.33 %Loans receivable, gross