Company: PNBK
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052358
Chunk: 5

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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 2,758 2,758 Total comprehensive (loss) income— —  (26,954) 2,758 (24,196)Share-based compensation expense— 55  —  — 55 Balance at September 30, 20243,976,073 $106,790  $(77,360) $(13,044)$16,386 

 Nine Months Ended September 30, 2024(In thousands, except shares)Number of SharesCommonStockAccumulatedDeficitAccumulated Other Comprehensive (Loss) Income TotalBalance at January 1, 20243,976,073 $106,670 $(47,026)$(15,261)$44,383 Comprehensive (loss) income:    Net loss— — (30,334)— (30,334)Unrealized holding gain on available-for-sale securities, net of tax— — — 2,217 2,217 Total comprehensive income— — (30,334)2,217 (28,117)Share-based compensation expense— 120 — — 120 Balance at September 30, 20243,976,073 $106,790 $(77,360)$(13,044)$16,386 

See Accompanying Notes to Consolidated Financial Statements.

9

PATRIOT NATIONAL BANCORP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) 

(In thousands)Nine Months Ended September 30,20252024Cash Flows from Operating Activities:Net loss$(10,435)$(30,334)Adjustments to reconcile net loss to net cash (used in) provided by operating activities:Accretion of investment premiums and discounts, net(165)(113)Amortization and accretion of purchase loan premiums and discounts, net(166)51 Amortization of debt issuance costs208 133 Amortization of core deposit intangible35 35 Amortization of servicing assets of sold SBA loans145 177 Provision for credit losses1,826 4,776 Depreciation and amortization765 823 Loss on sales of available-for-sale securities— 24 Gain on sale of premises and equipment(1)(3)Share-based compensation3,102 120 Decrease in deferred tax