Company: PNBK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001628280-25-025485
Chunk: 196

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 196
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 %Cash equivalents and restricted cash180,402 1,993 4.48 %46,736 621 5.33 %Total interest earning assets977,477 12,548 5.21 %984,825 14,001 5.70 %Cash and due from banks2,693 2,641 Allowance for credit losses(10,108)(14,755)OREO2,840 2,843 Other assets42,806 69,836 Total Assets$1,015,708 $1,045,390 LiabilitiesInterest bearing liabilities:Deposits$861,878 $7,798 3.67 %$746,101 $6,686 3.59 %Borrowings8,933 98 4.45 %112,073 1,214 4.34 %Senior notes11,207 322 11.49 %11,735 290 9.88 %Subordinated debt17,782 375 8.55 %18,009 406 9.04 %Note Payable124 1 3.27 %339 1 1.18 %Total interest bearing liabilities899,924 8,594 3.87 %888,257 8,597 3.88 %Demand deposits94,074 105,812 Other liabilities9,521 6,551 Total Liabilities1,003,519 1,000,620 Shareholders' equity12,189 44,770 Total Liabilities and Shareholders' Equity$1,015,708 $1,045,390 Net interest income$3,954 $5,404 Interest margin1.64 %2.20 %Interest spread1.34 %1.82 %

53

The following table presents the change in interest-earning assets and interest-bearing liabilities by major category and the related change in the interest income earned and interest expense incurred thereon attributable to the change in transactional volume in the financial instruments and the rates of interest applicable thereto, comparing the three months ended March 31, 2025 and 2024.

Three Months Ended March 31,2025 compared to 2024(In thousands)Increase/(Decrease)VolumeRateTotalInterest earning assets:Loans$(2,221)$(447)$(2,668)