Company: PNBK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001628280-25-025485
Chunk: 4

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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 sales of available-for-sale securities— 24 Loss on sale of premises and equipment— 3 Share-based compensation181 24 Decrease in deferred tax assets— 40 Increase in deferred tax liabilities1 — Originations of loans held for sale, net(187,291)(133,569)Proceeds from sale of loans held for sale181,109 134,965 Gains on sale of loans held for sale, net(43)(267)Write-down of other real estate owned253 — Changes in assets and liabilities:  Decrease in accrued interest and dividends receivable441 609 Decrease (increase) in other assets795 (311)Increase (decrease) in accrued expenses and other liabilities465 (552)Net cash (used in) provided by operating activities(5,811)1,799 Cash Flows from Investing Activities:Proceeds from maturity or sales on available-for-sale securities— 2,281 Principal repayments on available-for-sale securities827 1,068 Purchases of available-for-sale securities— (2,319)Redemptions (purchases) of FRB stock349 (110)Redemptions of FHLB stock100 1,550 Payments received on loans receivable, net33,141 41,090 Purchases of loans receivable(86)(47)Purchases of premises and equipment(70)(41)Net cash provided by investing activities34,261 43,472   Cash Flows from Financing Activities:  (Decrease) increase in deposits, net(104,163)19,413 Repayments from FHLB daily borrowing, net(3,000)(40,000)Proceeds from FRB and correspondent bank borrowings60,000 12,000 Repayments of FRB and correspondent bank borrowings(60,000)(12,000)Principal repayments of note payable(53)(53)Increase in advances from borrowers for taxes and insurance1,957 1,608 Proceeds from preferred stock issuance5,100 — Proceeds from common stock issuance45,300 — Net cash used in financing activities(54,859)(19,032)  Net (decrease) increase in cash, cash equivalents and restricted cash(26,409)26,239   Cash, cash equivalents and restricted cash at beginning of period162,610 66,536   Cash, cash