Company: PNBK
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052358
Chunk: 16

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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,735  $— $12,735 Subordinated notes3,000  1,000  — 4,000 2,610  851  — 3,461 SBA loan pools—  —  4,562 4,562 —  —  3,573 3,573 Municipal bonds—  —  — — —  —  — — Available-for-sale securities with stated maturity dates3,000  16,996  4,562 24,558 2,610  13,586  3,573 19,769 U. S. Government agency and mortgage-backed securities—  5,172  70,517 75,689 —  4,134  56,089 60,223 Total available-for-sale securities$3,000  $22,168  $75,079 $100,247 $2,610  $17,720  $59,662 $79,992 

Note 4.    Loans Receivable and Allowance for Credit Losses 

As of September 30, 2025 and December 31, 2024, loans receivable, net, consisted of the following:(In thousands)September 30, 2025December 31, 2024Loan portfolio segment:Commercial Real Estate$360,802 $419,489 Residential Real Estate83,672 92,215 Commercial and Industrial123,359 129,608 Consumer and Other20,802 59,973 Construction— 3,830 Construction to Permanent - CRE31 2,357 Loans receivable, gross588,666 707,472 Allowance for credit losses(7,187)(7,305)Loans receivable, net$581,479 $700,167 

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

Existing Loan PortfolioPatriot’s lending activities have historically been conducted primarily in Fairfield and New Haven Counties in Connecticut, Westchester County in New York, and the five boroughs of New York City.   Beginning in the third quarter of 2025, the Bank began to expand its footprint to add customers in the greater