----

**FORM          10-Q**

| For                    the Quarter Ended June 30, 2007 | Commission                    file number 000-29599 |
|--------------------------------------------------------|-----------------------------------------------------|

| Connecticut                                 | 06-1559137                                                 |
|---------------------------------------------|------------------------------------------------------------|
| (State                    of incorporation) | (I.R.S.                    Employer Identification Number) |

----

|                        |                                                                           | Page   |
|-----------------------------|--------------------------------------------------------------------------------|--------|
|                        |                                                                           |   |
| Part                    I   | FINANCIAL                    INFORMATION                                       |   |
|                        |                                                                           |   |
| Item                    1.  | Consolidated                    Financial Statements                           | 3      |
|                        |                                                                           |   |
| Item                    2.  | Management’s                    Discussion and Analysis of               |   |
|                        | Financial                    Condition and Results of Operations               | 17     |
|                        |                                                                           |   |
| Item                    3.  | Quantitative                    and Qualitative Disclosures about Market Risk  | 30     |
|                        |                                                                           |   |
| Item                    4.  | Controls                    and Procedures                                     | 33     |
|                        |                                                                           |   |
| Part                    II  | OTHER                    INFORMATION                                           |   |
|                        |                                                                           |   |
| Item                    1A. | Risk                    Factors                                                | 33     |
|                        |                                                                           |   |
| Item                    2.  | Unregistered                    Sales of Equity Securities and Use of Proceeds | 33     |
|                        |                                                                           |   |
| Item                    4.  | Submission                    of Matters to a Vote of Security Holders         | 34     |
|                        |                                                                           |   |
| Item                    6.  | Exhibits                                                                       | 35     |

----

**PART          I - FINANCIAL INFORMATION**

**Item          1.     Consolidated          Financial Statements**

**PATRIOT          NATIONAL BANCORP, INC.**

**CONSOLIDATED          BALANCE SHEETS**

|                                                                                                                                                                                                           |                    | June                            30, |   December                            31,  |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------|-------------------------------------|-----------------------------------------------------------|
|                                                                                                                                                                                                           |                    | 2007                                |                                                      |   | 2006 |   |
|                                                                                                                                                                                                           |  (Unaudited)  |                                |                                                      |   |
| **ASSETS**                                                                                                                                                                                                     |                    |                                |                                                      |   |   |   |
| Cash                            and due from banks                                                                                                                                                             |                    | $                                   | 11,615,448                                                |   |   | $ | 3,868,670 |   |
| Federal                            funds sold                                                                                                                                                                  |                    |                                | 33,700,000                                                |   |   |   | 27,000,000 |   |
| Short                            term investments                                                                                                                                                              |                    |                                | 34,954,826                                                |   |   |   | 24,605,869 |   |
|      **Cash                            and cash equivalents**                                                                                                                         | ** **              | ** **                          | **80,270,274**                                            | ** ** | ** ** | ** ** | **55,474,539** |   |
|                                                                                                                                                                                                           |                    |                                |                                                      |   |   |   |   |   |
| Available                            for sale securities (at fair value)                                                                                                                                       |                    |                                | 63,633,344                                                |   |   |   | 67,093,135 |   |
| Federal                            Reserve Bank stock                                                                                                                                                          |                    |                                | 1,911,700                                                 |   |   |   | 1,911,700 |   |
| Federal                            Home Loan Bank stock                                                                                                                                                        |                    |                                | 1,217,200                                                 |   |   |   | 1,217,200 |   |
| Loans                            receivable (net of allowance for loan losses:  2007                            $5,597,656;     2006                            $5,630,432) |                    |                                | 592,073,371                                               |   |   |   | 506,884,155 |   |
| Accrued                            interest receivable                                                                                                                                                         |                    |                                | 4,035,770                                                 |   |   |   | 3,542,173 |   |
| Premises                            and equipment                                                                                                                                                              |                    |                                | 6,623,581                                                 |   |   |   | 3,690,861 |   |
| Deferred                            tax asset, net                                                                                                                                                             |                    |                                | 2,815,045                                                 |   |   |   | 2,914,562 |   |
| Goodwill                            and other intangible assets                                                                                                                                                |                    |                                | 1,478,363                                                 |   |   |   | 1,487,651 |   |
| Other                            assets                                                                                                                                                                        |                    |                                | 1,845,388                                                 |   |   |   | 1,766,819 |   |
|           **Total                            assets**                                                                                                        | ** **              | **$**                               | **755,904,036**                                           | ** ** | ** ** | **$** | **645,982,795** | ** ** |
| ** **                                                                                                                                                                                                     | ** **              | ** **                          | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** |
| **LIABILITIES                            AND SHAREHOLDERS' EQUITY**                                                                                                                                            | ** **              | ** **                          | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Liabilities**                                                                                                                                                                                                | ** **              | ** **                          | ** **                                                | ** ** | ** ** | ** ** |   |   |
|      Deposits:                                                                                                                                                                        |                    |                                |                                                      |   |   |   |   |   |
|           Noninterest                            bearing deposits                                                                                            |                    | $                                   | 68,064,834                                                |   |   | $ | 56,679,836 |   |
|           Interest                            bearing deposits                                                                                               |                    |                                | 611,198,181                                               |   |   |   | 504,771,828 |   |
|                **Total                            deposits**                                                                        | ** **              | ** **                          | **679,263,015**                                           | ** ** | ** ** | ** ** | **561,451,664** |   |
|      Federal                            Home Loan Bank borrowings                                                                                                                     |                    |                                | -                                                         |   |   |   | 8,000,000 |   |
|      Junior                            subordinated debt owed to unconsolidated trust                                                                                                 |                    |                                | 8,248,000                                                 |   |   |   | 8,248,000 |   |
|      Accrued                            expenses and other liabilities                                                                                                                |                    |                                | 3,273,236                                                 |   |   |   | 3,999,786 |   |
|                **Total                            liabilities**                                                                     | ** **              | ** **                          | **690,784,251**                                           | ** ** | ** ** | ** ** | **581,699,450** |   |
|                                                                                                                                                                                                           |                    |                                |                                                      |   |   |   |   |   |
| **Shareholders'                            equity**                                                                                                                                                            |                    |                                |                                                      |   |   |   |   |   |
|      Preferred                            stock:  1,000,000 shares authorized; no shares                            issued                                                  |                    |                                | -                                                         |   |   |   | - |   |
|      Common                            stock, $2 par value: 60,000,000 shares authorized; shares                                                                                      |                    |                                |                                                      |   |   |   |   |   |
|      issued                            and outstanding:  2007 - 4,741,844;  2006 -                            4,739,494                                           |                    |                                | 9,483,688                                                 |   |   |   | 9,478,988 |   |
|      Additional                            paid in capital                                                                                                                            |                    |                                | 49,508,568                                                |   |   |   | 49,463,307 |   |
|      Retained                            earnings                                                                                                                                     |                    |                                | 6,646,119                                                 |   |   |   | 6,022,012 |   |
|      Accumulated                            other comprehensive income - net unrealized                                                                                               |                    |                                |                                                      |   |   |   |   |   |
|           loss                            on available for sale securities, net of taxes                                                                     |                    |                                | (518,590                                                  | ) |   |   | (680,962 | ) |
|                **Total                            shareholders' equity**                                                            | ** **              | ** **                          | **65,119,785**                                            | ** ** | ** ** | ** ** | **64,283,345** | ** ** |
| **               Total                            liabilities and shareholders' equity**                                            | ** **              | **$**                               | **755,904,036**                                           | ** ** | ** ** | **$** | **645,982,795** | ** ** |

----

**PATRIOT          NATIONAL BANCORP, INC.**

**CONSOLIDATED          STATEMENTS OF INCOME**

**(Unaudited)**

|                                                                             |   | **Three                      Months Ended** |           |         | **Six                      Months Ended** |          |
|----------------------------------------------------------------------------------|--------|---------------------------------------------|----------------|--------------|-------------------------------------------|---------------|
|                                                                             |   | **June                      30,**           |           |         | **June                      30,**         |          |
|                                                                             |   | **2007**                                    |           |         | **2006**                                  |          |   | **2007** |    | **2006** |   |
|                                                                             |   |                                        |           |         |                                      |          |   |   |   |   |   |   |
| Interest                      and Dividend Income                                |   |                                        |           |         |                                      |          |   |   |   |   |   |   |
| Interest                      and fees on loans                                  |   | $                                           | 11,270,743     |         |                                      | $             | 8,311,861 |   |   | $ | 21,606,864 |   |   | $ | 15,510,351 |   |
| Interest                      and dividends                                      |   |                                        |           |         |                                      |          |   |   |   |   |   |   |   |   |   |   |
|      on                      investment securities      |   |                                        | 1,155,542      |         |                                      |          | 768,842 |   |   |   | 2,170,801 |   |   |   | 1,547,669 |   |
| Interest                      on federal funds sold                              |   |                                        | 567,730        |         |                                      |          | 71,889 |    |   | 780,958 |    |   | 134,664 |   |
| **Total                      interest and dividend income**                      |   | ** **                                  | **12,994,015** |         |                                      | ** **    | **9,152,592** |    | ** ** | **24,558,623** |    | ** ** | **17,192,684** |   |
|                                                                             |   |                                        |           |         |                                      |          |   |   |   |   |   |   |   |   |   |   |
| Interest                      Expense                                            |   |                                        |           |         |                                      |          |   |   |   |   |   |   |   |   |   |   |
| Interest                      on deposits                                        |   |                                        | 6,897,473      |         |                                      |          | 3,595,580 |   |   |   | 12,590,716 |   |   |   | 6,681,625 |   |
| Interest                      on Federal Home Loan Bank borrowings               |   |                                        | 22,598         |         |                                      |          | 422,407 |   |   |   | 121,047 |   |   |   | 607,805 |   |
| Interest                      on subordinated debt                               |   |                                        | 172,953        |         |                                      |          | 165,631 |   |   |   | 344,351 |   |   |   | 320,667 |   |
| Interest                      on other borrowings                                |   |                                        | -              |         |                                      |          | 1,844 |   |   |   | - |   |   |   | 4,150 |   |
| **Total                      interest expense**                                  |   | ** **                                  | **7,093,024**  |         |                                      | ** **    | **4,185,462** |    | ** ** | **13,056,114** |   |   | ** ** | **7,614,247** |   |
|                                                                             |   |                                        |           |         |                                      |          |   |   |   |   |   |   |   |   |   |   |
| **Net                      interest income**                                     |   | ** **                                  | **5,900,991**  |         |                                      | ** **    | **4,967,130** |   |   | ** ** | **11,502,509** |   |   | ** ** | **9,578,437** |   |
|                                                                             |   |                                        |           |         |                                      |          |   |   |   |   |   |   |   |   |   |   |
| Provision                      for Loan Losses                                   |   |                                        | -              |    |                                      | 350,700       |    |   | - |    |   | 923,500 |   |
|                                                                             |   |                                        |           |         |                                      |          |   |   |   |   |   |   |   |   |   |   |
| **Net                      interest income after**                               |   |                                        |           |         |                                      |          |   |   |   |   |   |   |   |   |   |   |
| **     provision                      for loan losses** |   | ** **                                  | **5,900,991**  |    | ** **                                | **4,616,430** |    | ** ** | **11,502,509** |    | ** ** | **8,654,937** |   |
|                                                                             |   |                                        |           |         |                                      |          |   |   |   |   |   |   |   |   |   |   |
| Noninterest                      Income                                          |   |                                        |           |         |                                      |          |   |   |   |   |   |   |   |   |   |   |
| Mortgage                      brokerage referral fees                            |   |                                        | 216,377        |         |                                      |          | 312,832 |   |   |   | 504,711 |   |   |   | 679,638 |   |
| Loan                      origination & processing fees                      |   |                                        | 57,642         |         |                                      |          | 86,633 |   |   |   | 106,244 |   |   |   | 153,850 |   |
| Fees                      and service charges                                    |   |                                        | 194,038        |         |                                      |          | 143,211 |   |   |   | 375,381 |   |   |   | 288,410 |   |
| Gain                      on redemption of investment securities                 |   |                                        | 5,000          |         |                                      |          | - |   |   |   | 5,000 |   |   |   | - |   |
| Other                      income                                                |   |                                        | 53,321         |    |                                      | 38,653        |    |   | 120,056 |    |   | 89,696 |   |
| **Total                      noninterest income**                                |   | ** **                                  | **526,378**    |    | ** **                                | **581,329**   |    | ** ** | **1,111,392** |    | ** ** | **1,211,594** |   |
|                                                                             |   |                                        |           |         |                                      |          |   |   |   |   |   |   |   |   |   |   |
| Noninterest                      Expenses                                        |   |                                        |           |         |                                      |          |   |   |   |   |   |   |   |   |   |   |
| Salaries                      and benefits                                       |   |                                        | 3,083,862      |         |                                      |          | 2,600,207 |   |   |   | 6,175,817 |   |   |   | 4,913,779 |   |
| Occupancy                      and equipment expense, net                        |   |                                        | 1,013,192      |         |                                      |          | 689,470 |   |   |   | 1,960,256 |   |   |   | 1,335,574 |   |
| Data                      processing and other outside services                  |   |                                        | 486,788        |         |                                      |          | 383,975 |   |   |   | 898,004 |   |   |   | 807,265 |   |
| Professional                      services                                       |   |                                        | 89,870         |         |                                      |          | 119,385 |   |   |   | 226,205 |   |   |   | 247,958 |   |
| Advertising                      and promotional expenses                        |   |                                        | 208,376        |         |                                      |          | 150,826 |   |   |   | 407,678 |   |   |   | 295,866 |   |
| Loan                      administration and processing expenses                 |   |                                        | 52,155         |         |                                      |          | 49,996 |   |   |   | 90,974 |   |   |   | 80,473 |   |
| Other                      real estate operations                                |   |                                        | (10,594        | )            |                                      |          | - |   |   |   | (17,556 | ) |   |   | - |   |
| Other                      noninterest expenses                                  |   |                                        | 629,371        |    |                                      | 401,108       |    |   | 1,154,755 |    |   | 752,881 |   |
| **Total                      noninterest expenses**                              |   | ** **                                  | **5,553,020**  |    | ** **                                | **4,394,967** |    | ** ** | **10,896,133** |    | ** ** | **8,433,796** |   |
|                                                                             |   |                                        |           |         |                                      |          |   |   |   |   |   |   |   |   |   |   |
| **Income                      before income taxes**                              |   | ** **                                  | **874,349**    |         |                                      | ** **    | **802,792** |   |   | ** ** | **1,717,768** |   |   | ** ** | **1,432,735** |   |
|                                                                             |   |                                        |           |         |                                      |          |   |   |   |   |   |   |   |   |   |   |
| Provision                      for Income Taxes                                  |   |                                        | 340,000        |    |                                      | 295,000       |    |   | 667,000 |    |   | 526,000 |   |
|                                                                             |   |                                        |           |         |                                      |          |   |   |   |   |   |   |   |   |   |   |
| **Net                      income**                                              |   | **$**                                       | **534,349**    |    | **$**                                     | **507,792**   |    | **$** | **1,050,768** |    | **$** | **906,735** |   |
|                                                                             |   |                                        |           |         |                                      |          |   |   |   |   |   |   |   |   |   |   |
| **Basic                      income Per Share**                                  |   | **$**                                       | **0.11**       |    | **$**                                     | **0.16**      |    | **$** | **0.22** |    | **$** | **0.28** |   |
|                                                                             |   |                                        |           |         |                                      |          |   |   |   |   |   |   |   |   |   |   |
| **Diluted                      income Per Share**                                |   | **$**                                       | **0.11**       |    | **$**                                     | **0.16**      |    | **$** | **0.22** |    | **$** | **0.28** |   |
|                                                                             |   |                                        |           |         |                                      |          |   |   |   |   |   |   |   |   |   |   |
| **Dividends                      per share**                                     |   | **$**                                       | **0.045**      |    | **$**                                     | **0.045**     |    | **$** | **0.090** |    | **$** | **0.085** |   |

----

**PATRIOT          NATIONAL BANCORP, INC**

**CONSOLIDATED          STATEMENTS OF COMPREHENSIVE INCOME**

**(Unaudited)**

|                                                                                           |       | Three                        Months Ended |        |       | Six                        Months Ended |   |
|------------------------------------------------------------------------------------------------|------------|-------------------------------------------|-------------|------------|-----------------------------------------|--------|
|                                                                                           |       | June                        30,           |        |       | June                        30,         |   |
|                                                                                           |       | 2007                                      |        |       | 2006                                    |   |   | 2007 |   |   | 2006 |   |
|                                                                                           |       |                                      |        |       |                                    |   |   |   |   |   |   |   |
| Net                        income                                                              |       | $                                         | 534,349     |       |                                    | $      | 507,792 |   |   | $ | 1,050,768 |   |   | $ | 906,735 |   |
|                                                                                           |       |                                      |        |       |                                    |   |   |   |   |   |   |   |   |   |   |   |
| Unrealized                        holding gains (losses) on securities:                        |       |                                      |        |       |                                    |   |   |   |   |   |   |   |   |   |   |   |
|      Unrealized                        holding gains (losses) arising |       |                                      |        |       |                                    |   |   |   |   |   |   |   |   |   |   |   |
|  during                        the period, net of taxes                                   |       |                                      | (59,738     | )          |                                    |   | (167,510 | ) |   |   | 162,372 |   |   |   | (271,534 | ) |
|                                                                                           |       |                                      |        |       |                                    |   |   |   |   |   |   |   |   |   |   |   |
| **Comprehensive                        income**                                                | ** ** | **$**                                     | **474,611** | ** ** | ** **                              | **$**  | **340,282** | ** ** | ** ** | **$** | **1,213,140** | ** ** | ** ** | **$** | **635,201** |   |

----

**PATRIOT          NATIONAL BANCORP, INC**

**CONSOLIDATED          STATEMENTS OF SHAREHOLDERS’ EQUITY**

**(Unaudited)**

|                                                                                                                                                          |   |                             |      |         |   |      |         |       |       |         |       |      |         | Accumulated   |       |         |         |       |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|-----------|--------------|--------|-----------|--------------|------------|------------|--------------|------------|-----------|--------------|---------------|------------|--------------|--------------|------------|
|                                                                                                                                                          |   |                             |      |         |   |      |         | Additional |       |         |       |      |         | Other         |       |         |         |       |
|                                                                                                                                                          |   | Number                        of |      |         | Common |      |         | Paid-In    |       |         | Retained   |      |         | Comprehensive |       |         |         |       |
|                                                                                                                                                          |   | Shares                           |      |         | Stock  |      |         | Capital    |       |         | Earnings   |      |         | Loss          |       |         | Total        |       |
|                                                                                                                                                          |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       |
| **Six                        months ended June 30, 2006**                                                                                                     |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       |
|                                                                                                                                                          |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       |
| Balance                        at December 31, 2005                                                                                                           |   |                             | 3,230,649 |         |   | $         | 6,461,298    |       |       | $            | 21,709,224 |      |         | $             | 4,308,242  |         |         | $          | (1,104,149 | ) |   | $ | 31,374,615 |   |
|                                                                                                                                                          |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       |   |   |   |   |   |   |
| Comprehensive                        income                                                                                                                   |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       |   |   |   |   |   |   |
|   Net                        income                                                                                                                 |   |                             |      |         |   |      |         |       |       |         |       |      |         |          | 906,735    |         |         |       |   |   |   |   | 906,735 |   |
|   Unrealized                        holding loss on available for                                                                    |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       |   |   |   |
|      sale                        securities, net of taxes                                                                            |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       | (271,534 | ) |   |   | (271,534 | ) |
|                Total                        comprehensive income    |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       |   | 635,201 |   |
|                                                                                                                                                          |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       |   |   |   |   |   |   |
| Dividends                                                                                                                                                     |   |                             |      |    |   |      |    |       |       |    |       | (274,605  | )            |          |       |         |    |       | (274,605 | ) |
|                                                                                                                                                          |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       |   |   |   |   |   |   |
| Balance,                        June 30, 2006                                                                                                                 |   |                             | 3,230,649 |    | $      | 6,461,298 |    | $          | 21,709,224 |    | $          | 4,940,372 |    | $             | (1,375,683 | )            |         | $          | 31,735,211 |   |
|                                                                                                                                                          |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       |   |   |   |   |   |   |
| **Six                        months ended June 30, 2007**                                                                                                     |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       |   |   |   |   |   |   |
|                                                                                                                                                          |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       |   |   |   |   |   |   |
| Balance                        at December 31, 2006                                                                                                           |   |                             | 4,739,494 |         |   | $         | 9,478,988    |       |       | $            | 49,463,307 |      |         | $             | 6,022,012  |         |         | $          | (680,962 | ) |   | $ | 64,283,345 |   |
|                                                                                                                                                          |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       |   |   |   |   |   |   |
| Comprehensive                        income                                                                                                                   |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       |   |   |   |   |   |   |
|   Net                        income                                                                                                                 |   |                             |      |         |   |      |         |       |       |         |       |      |         |          | 1,050,768  |         |         |       |   |   |   |   | 1,050,768 |   |
|   Unrealized                        holding gain on available for                                                                    |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       |   |   |   |
|      sale                        securities, net of taxes                                                                            |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       | 162,372 |   |   |   | 162,372 |   |
|                Total                        comprehensive income    |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       |   | 1,213,140 |   |
|                                                                                                                                                          |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       |   |   |   |   |   |   |
| Issuance                        of common stock                                                                                                               |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       |   |   |   |   |   |   |
|   Stock                        issued to directors                                                                                                  |   |                             | 2,350     |         |   |      | 4,700        |       |       |         | 45,261     |      |         |          |       |         |         |       |   |   |   |   | 49,961 |   |
|                                                                                                                                                          |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       |   |   |   |   |   |   |
| Dividends                                                                                                                                                     |   |                             |      |    |   |      |    |       |       |    |       | (426,661  | )       |          |       |    |         | (426,661   | ) |
|                                                                                                                                                          |   |                             |      |         |   |      |         |       |       |         |       |      |         |          |       |         |         |       |   |   |   |   |   |   |
| Balance,                        June 30, 2007                                                                                                                 |   |                             | 4,741,844 |    | $      | 9,483,688 |    | $          | 49,508,568 |    | $          | 6,646,119 |    | $             | (518,590   | )       | $            | 65,119,785 |   |

----

**PATRIOT          NATIONAL BANCORP, INC.**

**CONSOLIDATED          STATEMENTS OF CASH FLOWS**

**(Unaudited)**

|                                                                                                                 |       | Six                          Months Ended    |            |
|----------------------------------------------------------------------------------------------------------------------|------------|-------------------------------------------------------------|-----------------|
|                                                                                                                 |       | June                          30,            |            |
|                                                                                                                 |       | 2007                                                        |            |   | 2006 |   |
|                                                                                                                 |       |                                                        |            |   |   |   |
| Cash                          Flows from Operating Activities                                                        |       |                                                        |            |   |   |   |
| Net                          income                                                                                  |       | $                                                           | 1,050,768       |   |   | $ | 906,735 |   |
| Adjustments                          to reconcile net income to net cash                                             |       |                                                        |            |   |   |   |   |   |
| provided                          by operating activities:                                                           |       |                                                        |            |   |   |   |   |   |
| Amortization                          and accretion of investment premiums and discounts, net                        |       |                                                        | 92,662          |   |   |   | 103,291 |   |
| Provision                          for loan losses                                                                   |       |                                                        | -               |   |   |   | 923,500 |   |
| Gain                          on redemption of investment security                                                   |       |                                                        | (5,000          | ) |   |   | - |   |
| Amortization                          of core deposit intangible                                                     |       |                                                        | 9,288           |   |   |   | - |   |
| Depreciation                          and amortization                                                               |       |                                                        | 537,925         |   |   |   | 310,659 |   |
| Loss                          on disposal of bank premises and equipment                                             |       |                                                        | 633             |   |   |   | - |   |
| Payment                          of fees to directors in common stock                                                |       |                                                        | 49,961          |   |   |   | - |   |
| Changes                          in assets and liabilities:                                                          |       |                                                        |            |   |   |   |   |   |
|      Increase                          in deferred loan fees                                |       |                                                        | 157,304         |   |   |   | 415,593 |   |
|      Increase                          in accrued interest receivable                       |       |                                                        | (493,597        | ) |   |   | (688,787 | ) |
|      Increase                          in other assets                                      |       |                                                        | (78,569         | ) |   |   | (47,887 | ) |
|      (Decrease)                          increase in accrued expenses and other liabilities |       |                                                        | (726,655        | ) |   |   | 434,712 |   |
|      **Net                          cash provided by operating activities**                 | ** ** | ** **                                                  | **594,720**     | ** ** | ** ** | ** ** | **2,357,816** |   |
|                                                                                                                 |       |                                                        |            |   |   |   |   |   |
| Cash                          Flows from Investing Activities                                                        |       |                                                        |            |   |   |   |   |   |
| Purchases                          of available for sale securities                                                  |       |                                                        | (4,994,283      | ) |   |   | - |   |
| Principal                          repayments on available for sale securities                                       |       |                                                        | 6,623,301       |   |   |   | 5,985,116 |   |
| Proceeds                          from redemptions of available for sale securities                                  |       |                                                        | 2,005,000       |   |   |   | - |   |
| Purchase                          of Federal Reserve Bank Stock                                                      |       |                                                        | -               |   |   |   | (650 | ) |
| Purchase                          of Federal Home Loan Bank Stock                                                    |       |                                                        | -               |   |   |   | (1,430,500 | ) |
| Net                          increase in loans                                                                       |       |                                                        | (85,346,520     | ) |   |   | (87,547,071 | ) |
| Purchases                          of bank premises and equipment                                                    |       |                                                        | (3,471,278      | ) |   |   | (316,472 | ) |
|      **Net                          cash used in investing activities**                     | ** ** | ** **                                                  | **(85,183,780** | **)** | ** ** | ** ** | **(83,309,577** | **)** |
|                                                                                                                 |       |                                                        |            |   |   |   |   |   |
| Cash                          Flows from Financing Activities                                                        |       |                                                        |            |   |   |   |   |   |
| Net                          increase in demand, savings and money market deposits                                   |       |                                                        | 20,964,306      |   |   |   | 3,432,825 |   |
| Net                          increase in time certificates of deposits                                               |       |                                                        | 96,847,045      |   |   |   | 50,120,597 |   |
| Proceeds                          from FHLB borrowings                                                               |       |                                                        | -               |   |   |   | 54,718,000 |   |
| Principal                          repayments of FHLB borrowings                                                     |       |                                                        | (8,000,000      | ) |   |   | (20,718,000 | ) |
| Dividends                          paid on common stock                                                              |       |                                                        | (426,556        | ) |   |   | (258,452 | ) |
|    **  Net                          cash provided by financing activities**                 | ** ** | ** **                                                  | **109,384,795** | ** ** | ** ** | ** ** | **87,294,970** | ** ** |
| ** **                                                                                                           | ** ** | ** **                                                  | ** **      | ** ** | ** ** | ** ** | ** ** | ** ** |
| **     Net                          increase in cash and cash equivalents**                 | ** ** | ** **                                                  | **24,795,735**  | ** ** | ** ** | ** ** | **6,343,209** |   |
|                                                                                                                 |       |                                                        |            |   |   |   |   |   |
| Cash                          and cash equivalents                                                                   |       |                                                        |            |   |   |   |   |   |
| Beginning                                                                                                            |       |                                                        | 55,474,539      |   |   |   | 15,967,605 |   |
|                                                                                                                 |       |                                                        |            |   |   |   |   |   |
| Ending                                                                                                               |       | $                                                           | 80,270,274      |   |   | $ | 22,310,814 |   |

----

**PATRIOT          NATIONAL BANCORP, INC.**

**CONSOLIDATED          STATEMENTS OF CASH FLOWS, Continued**

**(Unaudited)**

|                                                                                         |   | Six                      Months Ended    |       |
|----------------------------------------------------------------------------------------------|--------|---------------------------------------------------------|------------|
|                                                                                         |   | June                      30,            |       |
|                                                                                         |   | 2007                                                    |       |   | 2006 |   |
|                                                                                         |   |                                                    |       |   |   |   |
| Supplemental                      Disclosures of Cash Flow Information                       |   |                                                    |       |   |   |   |
| Cash                      paid for:                                                          |   |                                                    |       |   |   |   |
|      Interest                                                       |   | $                                                       | 13,068,208 |   |   | $ | 7,485,125 |   |
|                                                                                         |   |                                                    |       |   |   |   |   |   |
|      Income                      taxes                              |   | $                                                       | 820,000    |   |   | $ | 934,020 |   |
|                                                                                         |   |                                                    |       |   |   |   |   |   |
| Supplemental                      disclosures of noncash investing and financing activities: |   |                                                    |       |   |   |   |   |   |
|                                                                                         |   |                                                    |       |   |   |   |   |   |
| Unrealized                      holding gain (loss) on available for sale                    |   |                                                    |       |   |   |   |   |   |
| securities                      arising during the period                                    |   | $                                                       | 261,889    |   |   | $ | (437,957 | ) |
|                                                                                         |   |                                                    |       |   |   |   |   |   |
| Dividends                      declared on common stock                                      |   | $                                                       | 213,383    |   |   | $ | 145,379 |   |

----

**PATRIOT          NATIONAL BANCORP, INC.**

**NOTES          TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)**

**Note          1.     Basis of Financial          Statement Presentation**

**Note          2.     Investments**

|                                                                   |   | June                    30, |   December                    31,  |
|------------------------------------------------------------------------|--------|-----------------------------|---------------------------------------------------|
|                                                                   |   | 2007                        |                                              |   | 2006 |   |
|                                                                   |   |                        |                                              |   |   |   |
| U.                    S. Government sponsored                          |   |                        |                                              |   |   |   |
|   agency                    obligations                      |   | $                           | 16,648,035                                        |   |   | $ | 16,566,822 |   |
| U.                    S. Government Agency and sponsored               |   |                        |                                              |   |   |   |   |   |
|    agency                    mortgage-backed securities |   |                        | 36,941,027                                        |   |   |   | 43,476,313 |   |
| Money                    market preferred                              |   |                        |                                              |   |   |   |   |   |
|   equity                    securities                       |   |                        | 10,044,282                                        |   |   |   | 7,050,000 |   |
| Total                    Available for Sale Securities                 |   | $                           | 63,633,344                                        |   |   | $ | 67,093,135 |   |

----

|                                                                   |   |      |         |         | Gross        |   |         | Gross      |     |         |     |       |
|------------------------------------------------------------------------|--------|-----------|--------------|--------------|--------------|--------|--------------|------------|----------|--------------|----------|------------|
|                                                                   |   | Amortized |         |         | Unrealized   |   |         | Unrealized |     |         | Fair     |       |
|                                                                   |   | Cost      |    | Gains        |    | Losses |    | Value      |     |
| U.                    S. Government sponsored                          |   |      |         |         |         |   |         |       |     |         |     |       |
|    agency                    obligations                |   | $         | 17,000,000   |         |         | $      | -            |       |     | $            | (351,965 | )          |   | $ | 16,648,035 |   |
| U.                    S. Government Agency and sponsored               |   |      |         |         |         |   |         |       |     |         |     |       |   |   |   |   |
|    agency                    mortgage-backed securities |   |      | 37,425,498   |         |         |   | 25,755       |       |     |         | (510,226 | )          |   |   | 36,941,027 |   |
| Money                    market preferred                              |   |      |         |         |         |   |         |       |     |         |     |       |   |   |   |   |
|   equity                    securities                       |   |      | 10,044,282   |    |         | -      |    |       | -        |    |     | 10,044,282 |   |
| Total                    Available For Sale Securities                 |   | $         | 64,469,780   |    | $            | 25,755 |    | $          | (862,191 | )       | $        | 63,633,344 |   |

----

**Note        3.     Loans**

|                                             |   | June                      30, |   December                      31,  |
|--------------------------------------------------|--------|-------------------------------|-----------------------------------------------------|
|                                             |   | 2007                          |                                           | 2006 |   |
| Real                      Estate                 |   |                          |                                                |   |   |   |
|    Commercial                     |   | $                             | 204,370,846                                         |   |   | $ | 166,799,341 |   |
|    Residential                    |   |                          | 94,041,579                                          |   |   |   | 91,077,687 |   |
|    Construction                   |   |                          | 250,270,942                                         |   |   |   | 203,828,453 |   |
| Commercial                                       |   |                          | 23,914,313                                          |   |   |   | 23,997,640 |   |
| Consumer                      installment        |   |                          | 1,355,466                                           |   |   |   | 1,251,300 |   |
| Consumer                      home equity        |   |                          | 25,308,352                                          |   |   |   | 26,933,277 |   |
| Total                      Loans                 |   |                          | 599,261,498                                         |   |   |   | 513,887,698 |   |
| Premiums                      on purchased loans |   |                          | 232,487                                             |   |   |   | 292,543 |   |
| Net                      deferred fees           |   |                          | (1,822,958                                          | ) |   |   | (1,665,654 | ) |
| Allowance                      for loan losses   |   |                          | (5,597,656                                          | ) |   |   | (5,630,432 | ) |
| Loans                      receivable, net       |   | $                             | 592,073,371                                         |   |   | $ | 506,884,155 |   |

**Analysis        of Allowance for Loan Losses**

|                                                                            |   | Three                    months ending    |   |   | Six                    months ending    |   |
|---------------------------------------------------------------------------------|--------|----------------------------------------------------------|--------|--------|--------------------------------------------------------|--------|
|                                                                            |   | June                    30,               |   |   | June                    30,             |   |
| (Thousands                    of dollars)                                       |   | 2007                                                     |   |   | 2006                                                   |   |   | 2007 |   |   | 2006 |   |
|                                                                            |   |                                                     |   |   |                                                   |   |   |   |   |   |   |   |
| Balance                    at beginning of period                               |   | $                                                        | 5,630  |   |                                                   | $      | 5,161 |   |   | $ | 5,630 |   |   | $ | 4,588 |   |
| Charge-offs                                                                     |   |                                                     | (32    | )      |                                                   |   | (1 | ) |   |   | (32 | ) |   |   | (1 | ) |
| Recoveries                                                                      |   |                                                     | -      |   |                                                   |   | - |   |   |   | - |   |   |   | - |   |
| Net                    charge-offs                                              |   |                                                     | (32    | )      |                                                   |   | (1 | ) |   |   | (32 | ) |   |   | (1 | ) |
| Provision                    charged to operations                              |   |                                                     | -      |   |                                                   |   | 351 |   |   |   | - |   |   |   | 924 |   |
| Balance                    at end of period                                     |   | $                                                        | 5,598  |   |                                                   | $      | 5,511 |   |   | $ | 5,598 |   |   | $ | 5,511 |   |
|                                                                            |   |                                                     |   |   |                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Ratio                    of net charge-offs during                              |   |                                                     |   |   |                                                   |   |   |   |   |   |   |   |   |   |   |   |
|      the                    period to average loans    |   |                                                     |   |   |                                                   |   |   |   |   |   |   |   |   |   |   |   |
|      outstanding                    during the period. |   |                                                     | 0.00   | %      |                                                   |   | 0.00 | % |   |   | 0.00 | % |   |   | 0.00 | % |

----

** Note        4.     Deposits**

|                                                                                   |   | June                    30, |   December                    31,  |
|----------------------------------------------------------------------------------------|--------|-----------------------------|---------------------------------------------------|
|                                                                                   |   | 2007                        |                                         | 2006 |   |
|                                                                                   |   |                        |                                              |   |   |   |
| Noninterest                    bearing                                                 |   | $                           | 68,064,834                                        |   |   | $ | 56,679,836 |   |
|                                                                                   |   |                        |                                              |   |   |   |   |   |
| Interest                    bearing                                                    |   |                        |                                              |   |   |   |   |   |
|      NOW                                                      |   |                        | 33,414,691                                        |   |   |   | 26,881,927 |   |
|      Savings                                                  |   |                        | 31,445,121                                        |   |   |   | 25,993,452 |   |
|      Money                    market                          |   |                        | 38,530,503                                        |   |   |   | 40,935,628 |   |
|      Time                    certificates, less than $100,000 |   |                        | 297,606,236                                       |   |   |   | 248,414,014 |   |
|      Time                    certificates, $100,000 or more   |   |                        | 210,201,630                                       |   |   |   | 162,546,807 |   |
| Total                    interest bearing                                              |   |                        | 611,198,181                                       |   |   |   | 504,771,828 |   |
| Total                    Deposits                                                      |   | $                           | 679,263,015                                       |   |   | $ | 561,451,664 |   |

**Note        5.    Borrowings**

**Note        6.    Income per        share**

----

| Three                    months ended June 30, 2007                                          |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|----------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                         |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|                                                                                         | Net                    Income                                                                                                                                                               | Shares                                                                                                             | Amount                                                                                                                                                        |
| Basic                    Income Per Share                                                    |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|    Income                    available to common shareholders                 |  $                 534,349                                                                        |              4,739,546                            |  $                   0.11                                 |
|      Effect                    of Dilutive Securities               |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|         Stock                    Options outstanding |                                - |                   35,504 |                           - |
| Diluted                    Income Per Share                                                  |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|    Income                    available to common shareholders                 |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|    plus                    assumed conversions                                |  $                 534,349                                                                        |              4,775,050                            |  $                   0.11                                 |
|                                                                                         |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
| Three                    months ended June 30, 2006                                          |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|                                                                                         |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|                                                                                         | Net                    Income                                                                                                                                                               | Shares                                                                                                             | Amount                                                                                                                                                        |
| Basic                    Income Per Share                                                    |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|    Income                    available to common shareholders                 |  $                 507,792                                                                        |              3,230,649                            |  $                   0.16                                 |
|      Effect                    of Dilutive Securities               |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|         Stock                    Options outstanding |                                - |                   28,668 |                           - |
| Diluted                    Income Per Share                                                  |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|    Income                    available to common shareholders                 |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|    plus                    assumed conversions                                |  $                 507,792                                                                        |              3,259,317                            |  $                   0.16                                 |
|                                                                                         |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
| Six                    months ended June 30, 2007                                            |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|                                                                                         |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|                                                                                         | Net                    Income                                                                                                                                                               | Shares                                                                                                             | Amount                                                                                                                                                        |
| Basic                    Income Per Share                                                    |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|    Income                    available to common shareholders                 |  $              1,050,768                                                                                        |              4,739,520                            |  $                   0.22                                 |
|      Effect                    of Dilutive Securities               |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|         Stock                    Options outstanding |                                - |                   36,627 |                           - |
| Diluted                    Income Per Share                                                  |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|    Income                    available to common shareholders                 |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|    plus                    assumed conversions                                |  $              1,050,768                                                                                        |              4,776,147                            |  $                   0.22                                 |
|                                                                                         |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
| Six                    months ended June 30, 2006                                            |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|                                                                                         |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|                                                                                         | Net                    Income                                                                                                                                                               | Shares                                                                                                             | Amount                                                                                                                                                        |
| Basic                    Income Per Share                                                    |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|    Income                    available to common shareholders                 |  $                 906,735                                                                        |              3,230,649                            |  $                   0.28                                 |
|      Effect                    of Dilutive Securities               |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|         Stock                    Options outstanding |                                - |                   26,700 |                           - |
| Diluted                    Income Per Share                                                  |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|    Income                    available to common shareholders                 |                                                                                                                                                                                        |                                                                                                               |                                                                                                                                                          |
|    plus                    assumed conversions                                |  $                 906,735                                                                        |              3,257,349                            |  $                   0.28                                 |

----

**Note          7.    Other          Comprehensive Income**

|                                                 |   | Three                    Months Ended  |         |                          | Six                    Months Ended    |   |
|------------------------------------------------------|--------|----------------------------------------|--------------|-------------------------------|----------------------------------------|--------|
|                                                 |   | June                    30, 2007  |         |                          | June                    30, 2007  |   |
|                                                 |   | Before                    Tax          |         |                          |                                   |   |   | Net                    of Tax |   |   | Before                    Tax |   |   |   |   |   | Net                    of Tax |   |
|                                                 |   | Amount                                 |    | Tax                    Effect |                              | Amount |   |   | Amount |    | Tax                    Effect |    | Amount |   |
|                                                 |   |                                   |         |                          |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Unrealized                    holding (loss) gain    |   |                                   |         |                          |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| arising                    during the period         |   | $                                      | (96,352      | )                             |                                   | $      | 36,614 |   |   | $ | (59,738 | ) |   | $ | 261,889 |   |   | $ | (99,517 | ) |   | $ | 162,372 |   |
|                                                 |   |                                   |         |                          |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Reclassification                    adjustment       |   |                                   |         |                          |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for                    gains recognized in income    |   |                                   | -            |                          |                                   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
|                                                 |   |                                   |         |                          |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Unrealized                    holding (loss) gain    |   |                                   |         |                          |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| on                    available for sale securities, |   |                                   |         |                          |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| net                    of taxes                      |   | $                                      | (96,352      | )                             |                                   | $      | 36,614 |   |   | $ | (59,738 | ) |   | $ | 261,889 |   |   | $ | (99,517 | ) |   | $ | 162,372 |   |
|                                                 |   |                                   |         |                          |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                 |   | Three                    Months Ended  |         |                          | Six                    Months Ended    |   |
|                                                 |   | June                    30, 2006       |         |                          | June                    30, 2006  |   |
|                                                 |   | Before                    Tax          |         |                          |                                   |   |   |   | Net                    of Tax |   |   | Before                    Tax |   |   |   |   |   |   | Net                    of Tax |   |
|                                                 |   | Amount                                 |    | Tax                    Effect |                              | Amount |   |   | Amount |    | Tax                    Effect |    | Amount |   |
|                                                 |   |                                   |         |                          |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Unrealized                    holding loss           |   |                                   |         |                          |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| arising                    during the period         |   | $                                      | (270,177     | )                             |                                   | $      | 102,667 |   |   | $ | (167,510 | ) |   | $ | (437,957 | ) |   | $ | 166,423 |   |   | $ | (271,534 | ) |
|                                                 |   |                                   |         |                          |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Reclassification                    adjustment       |   |                                   |         |                          |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for                    gains recognized in income    |   |                                   | -            |                          |                                   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
|                                                 |   |                                   |         |                          |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Unrealized                    holding loss on        |   |                                   |         |                          |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| available                    for sale securities,    |   |                                   |         |                          |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| net                    of taxes                      |   | $                                      | (270,177     | )                             |                                   | $      | 102,667 |   |   | $ | (167,510 | ) |   | $ | (437,957 | ) |   | $ | 166,423 |   |   | $ | (271,534 | ) |

----

**Note        8.    Financial Instruments        with Off-Balance Sheet Risk**

|   | Commitments                    to extend credit:        |                                                                        |   |
|--------|---------------------------------------------------------|-----------------------------------------------------------------------------|--------|
|   |  Future                    loan commitments        |  $      93,339,854                       |   |
|   |  Unused                    lines of credit         |          53,185,120            |   |
|   |  Undisbursed                    construction loans |        107,575,943                       |   |
|   | Financial                    standby letters of credit  |            1,248,049 |   |
|   |                                               |  $    255,348,966                                  |   |

----

**Note        9.    Income        Taxes**

*Accounting for Uncertainty in Income        Taxes*
*Accounting for Income        Taxes*

**Note        10.     Recent        Accounting Pronouncements**

*The Fair Value Option for Financial Assets and Financial        Liabilities – Including an amendment of FASB No. 155 (“SFAS        159”)*

----

**Item        2.    Management's        Discussion and Analysis of Financial Condition and Results of        Operations**

**"SAFE        HARBOR" STATEMENT UNDER PRIVATE SECURITIES LITIGATION REFORM ACT OF        1995**

**CRITICAL        ACCOUNTING POLICIES**

----

***Allowance        for Loan Losses***

----

**SUMMARY**

**FINANCIAL        CONDITION**

***Assets***

***Investments***

----

***Loans***

***Allowance        for Loan Losses***

***Non-Accrual,        Past Due and Restructured Loans***

|   |                                                            | June                    30,                                                                                                   | December                    31,                                                                                               |   |
|--------|-----------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------|--------|
|   | *(Thousands                    of dollars)*                     | 2007                                                                                                                          | 2006                                                                                                                          |   |
|   |                                                            |                                                                                                                          |                                                                                                                          |   |
|   | Loans                    delinquent over 90 days                |  $                 1,040            |  $                 1,897            |   |
|   |      still                    accruing |                                                                                                                          |                                                                                                                          |   |
|   | Non                    accruing loans                           |                     2,834 |                     2,904 |   |
|   |      Total                             |  $                 3,874            |  $                 4,801            |   |
|   | %                    of Total Loans                             | 0.65%                                                                                                                         | 0.93%                                                                                                                         |   |
|   | %                    of Total Assets                            | 0.51%                                                                                                                         | 0.74%                                                                                                                         |   |

----

**Potential        Problem Loans**

***Deposits***

----

***Borrowings***

***Capital***

***Off-Balance        Sheet Arrangements***

----

**RESULTS        OF OPERATIONS**

***Interest        and dividend income and expense***

|                                                  |   | Three                    months ended June 30, |    |
|-------------------------------------------------------|--------|------------------------------------------------|---------|
|                                                  |   |                                           |    |   | 2007 |   |   |   |   |   |   |   |   | 2006 |   |   |   |   |
|                                                  |   |                                           |    |   | Interest |   |   |   |   |   |   |   |   | Interest |   |   |   |   |
|                                                  |   | Average                                        |    |   | Income/ |   |   | Average |   |   | Average |   |   | Income/ |   |   | Average |   |
|                                                  |   | Balance                                        |    |   | Expense |   |   | Rate |   |   | Balance |   |   | Expense |   |   | Rate |   |
|                                                  |   | *(dollars                    in thousands)*    |    |
| Interest                    earning assets:           |   |                                           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans                                                 |   | $                                              | 573,079 |   |   | $ | 11,271 |   |   |   | 7.87 | % |   | $ | 439,255 |   |   | $ | 8,312 |   |   |   | 7.57 | % |
| Federal                    funds sold and             |   |                                           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   other                    cash equivalents |   |                                           | 78,482  |   |   |   | 1,020 |   |   |   | 5.20 | % |   |   | 6,199 |   |   |   | 76 |   |   |   | 4.90 | % |
| Investments                                           |   |                                           | 68,175  |    |   | 703 |    |   | 4.12 | % |   |   | 77,608 |    |   | 765 |    |   | 3.94 | % |
| Total                    interest                     |   |                                           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   earning                    assets         |   |                                           | 719,736 |    |   | 12,994 |    |   | 7.22 | % |   |   | 523,062 |    |   | 9,153 |    |   | 7.00 | % |
|                                                  |   |                                           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash                    and due from banks            |   |                                           | 4,158   |   |   |   |   |   |   |   |   |   |   |   | 6,717 |   |   |   |   |   |   |   |   |   |
| Premises                    and equipment, net        |   |                                           | 6,201   |   |   |   |   |   |   |   |   |   |   |   | 2,347 |   |   |   |   |   |   |   |   |   |
| Allowance                    for loan losses          |   |                                           | (5,627  | ) |   |   |   |   |   |   |   |   |   |   | (5,384 | ) |   |   |   |   |   |   |   |   |
| Other                    assets                       |   |                                           | 9,992   |   |   |   |   |   |   |   |   |   |   |   | 6,712 |   |   |   |   |   |   |   |   |   |
| Total                    Assets                       |   | $                                              | 734,460 |   |   |   |   |   |   |   |   |   |   | $ | 533,454 |   |   |   |   |   |   |   |   |   |
|                                                  |   |                                           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest                    bearing liabilities:      |   |                                           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                                              |   | $                                              | 600,651 |   |   | $ | 6,897 |   |   |   | 4.59 | % |   | $ | 404,769 |   |   | $ | 3,596 |   |   |   | 3.55 | % |
| FHLB                    advances                      |   |                                           | 1,868   |   |   |   | 23 |   |   |   | 4.93 | % |   |   | 33,593 |   |   |   | 422 |   |   |   | 5.02 | % |
| Subordinated                    debt                  |   |                                           | 8,248   |   |   |   | 173 |   |   |   | 8.39 | % |   |   | 8,248 |   |   |   | 166 |   |   |   | 8.05 | % |
| Other                    borrowings                   |   |                                           | -       |    |   | - |    |   | - |    |   | 148 |    |   | 2 |    |   | 5.41 | % |
| Total                    interest                     |   |                                           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   bearing                    liabilities    |   |                                           | 610,767 |    |   | 7,093 |    |   | 4.65 | % |   |   | 446,758 |    |   | 4,186 |    |   | 3.75 | % |
|                                                  |   |                                           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Demand                    deposits                    |   |                                           | 53,483  |   |   |   |   |   |   |   |   |   |   |   | 50,496 |   |   |   |   |   |   |   |   |   |
| Accrued                    expenses and               |   |                                           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   other                    liabilities      |   |                                           | 4,847   |   |   |   |   |   |   |   |   |   |   |   | 4,108 |   |   |   |   |   |   |   |   |   |
| Shareholders'                    equity               |   |                                           | 65,363  |   |   |   |   |   |   |   |   |   |   |   | 32,192 |   |   |   |   |   |   |   |   |   |
| Total                    liabilities and equity       |   | $                                              | 734,460 |   |   |   |   |   |   |   |   |   |   | $ | 533,554 |   |   |   |   |   |   |   |   |   |
|                                                  |   |                                           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                    interest income                |   |                                           |    |   |   | $ | 5,901 |   |   |   |   |   |   |   |   |   |   | $ | 4,967 |   |   |   |   |   |
| Interest                    spread                    |   |                                           |    |   |   |   |   |   |   |   | 2.57 | % |   |   |   |   |   |   |   |   |   |   | 3.25 | % |
| Interest                    margin                    |   |                                           |    |   |   |   |   |   |   |   | 3.28 | % |   |   |   |   |   |   |   |   |   |   | 3.80 | % |

----

|                                                  |   | Six                    months ended June 30, |    |
|-------------------------------------------------------|--------|----------------------------------------------|---------|
|                                                  |   |                                         |    |   | 2007 |   |   |   |   |   |   |   |   | 2006 |   |   |   |   |
|                                                  |   |                                         |    |   | Interest |   |   |   |   |   |   |   |   | Interest |   |   |   |   |
|                                                  |   | Average                                      |    |   | Income/ |   |   | Average |   |   | Average |   |   | Income/ |   |   | Average |   |
|                                                  |   | Balance                                      |    |   | Expense |   |   | Rate |   |   | Balance |   |   | Expense |   |   | Rate |   |
|                                                  |   | *(dollars                    in thousands)*  |    |
| Interest                    earning assets:           |   |                                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans                                                 |   | $                                            | 552,027 |   |   | $ | 21,607 |   |   |   | 7.83 | % |   | $ | 414,761 |   |   | $ | 15,510 |   |   |   | 7.48 | % |
| Federal                    funds sold and             |   |                                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   other                    cash equivalents |   |                                         | 59,881  |   |   |   | 1,548 |   |   |   | 5.17 | % |   |   | 6,230 |   |   |   | 144 |   |   |   | 4.62 | % |
| Investments                                           |   |                                         | 68,750  |    |   | 1,404 |    |   | 4.08 | % |   |   | 78,775 |   |   |   | 1,539 |   |   |   | 3.91 | % |
| Total                    interest                     |   |                                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   earning                    assets         |   |                                         | 680,658 |    |   | 24,559 |    |   | 7.22 | % |   |   | 499,766 |   |   |   | 17,193 |   |   |   | 6.88 | % |
|                                                  |   |                                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash                    and due from banks            |   |                                         | 4,367   |   |   |   |   |   |   |   |   |   |   |   | 6,148 |   |   |   |   |   |   |   |   |   |
| Premises                    and equipment, net        |   |                                         | 5,553   |   |   |   |   |   |   |   |   |   |   |   | 2,337 |   |   |   |   |   |   |   |   |   |
| Allowance                    for loan losses          |   |                                         | (5,629  | ) |   |   |   |   |   |   |   |   |   |   | (5,072 | ) |   |   |   |   |   |   |   |   |
| Other                    assets                       |   |                                         | 9,739   |   |   |   |   |   |   |   |   |   |   |   | 6,528 |   |   |   |   |   |   |   |   |   |
| Total                    Assets                       |   | $                                            | 694,688 |   |   |   |   |   |   |   |   |   |   | $ | 509,707 |   |   |   |   |   |   |   |   |   |
|                                                  |   |                                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest                    bearing liabilities:      |   |                                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                                              |   | $                                            | 559,702 |   |   | $ | 12,591 |   |   |   | 4.50 | % |   | $ | 391,995 |   |   | $ | 6,682 |   |   |   | 3.41 | % |
| FHLB                    advances                      |   |                                         | 4,917   |   |   |   | 121 |   |   |   | 4.92 | % |   |   | 25,084 |   |   |   | 608 |   |   |   | 4.85 | % |
| Subordinated                    debt                  |   |                                         | 8,248   |   |   |   | 344 |   |   |   | 8.34 | % |   |   | 8,248 |   |   |   | 320 |   |   |   | 7.76 | % |
| Other                    borrowings                   |   |                                         | -       |    |   | - |    |   | - |    |   | 171 |    |   | 4 |    |   | 4.68 | % |
| Total                    interest                     |   |                                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   bearing                    liabilities    |   |                                         | 572,867 |    |   | 13,056 |    |   | 4.56 | % |   |   | 425,498 |    |   | 7,614 |    |   | 3.58 | % |
|                                                  |   |                                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Demand                    deposits                    |   |                                         | 51,578  |   |   |   |   |   |   |   |   |   |   |   | 48,065 |   |   |   |   |   |   |   |   |   |
| Accrued                    expenses and               |   |                                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   other                    liabilities      |   |                                         | 5,124   |   |   |   |   |   |   |   |   |   |   |   | 4,160 |   |   |   |   |   |   |   |   |   |
| Shareholders'                    equity               |   |                                         | 65,119  |   |   |   |   |   |   |   |   |   |   |   | 31,984 |   |   |   |   |   |   |   |   |   |
| Total                    liabilities and equity       |   | $                                            | 694,688 |   |   |   |   |   |   |   |   |   |   | $ | 509,707 |   |   |   |   |   |   |   |   |   |
|                                                  |   |                                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                    interest income                |   |                                         |    |   |   | $ | 11,503 |   |   |   |   |   |   |   |   |   |   | $ | 9,579 |   |   |   |   |   |
| Interest                    spread                    |   |                                         |    |   |   |   |   |   |   |   | 2.66 | % |   |   |   |   |   |   |   |   |   |   | 3.30 | % |
| Interest                    margin                    |   |                                         |    |   |   |   |   |   |   |   | 3.38 | % |   |   |   |   |   |   |   |   |   |   | 3.83 | % |

----

|                                                  | Three                    months ended June 30,                                                          |                                                                                                    | Six                    months ended June 30,                                                            |
|-------------------------------------------------------|---------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------|
|                                                  | 2007                    vs. 2006                                                                        |                                                                                                    | 2007                    vs. 2006                                                                        |
|                                                  | Fluctuations                    in Interest                                                             |                                                                                                    | Fluctuations                    in Interest                                                             |
|                                                  | Income/Expense                                                                                          |                                                                                                    | Income/Expense                                                                                          |
|                                                  | Due                    to change in:                                                                    |                                                                                                    | Due                    to change in:                                                                    |
|                                                  | Volume                                                                                                  | Rate                                                                                                    | Total                                                                                                   |   | Volume | Rate | Total |
|                                                  | *(dollars                    in thousands)*                                                             |                                                                                                    | *(dollars                    in thousands)*                                                             |
| Interest                    earning assets:           |                                                                                                    |                                                                                                    |                                                                                                    |   |   |   |   |
| Loans                                                 |  $        2,618                                            |  $           341                            |  $        2,959                                            |   |  $        5,342 |  $           755 |  $        6,097 |
| Federal                    funds sold and             |                                                                                                    |                                                                                                    |                                                                                                    |   |   |   |   |
|   other                    cash equivalents |              939                       |                  5 |              944                       |   |            1,385 |                19 |            1,404 |
| Investments                                           |             (248)                           |              186                       |               (62)                |   |             (300) |              165 |             (135) |
| Total                    interest                     |                                                                                                    |                                                                                                    |                                                                                                    |   |   |   |   |
|   earning                    assets         |            3,309                                 |              532                       |            3,841                                 |   |            6,427 |              939 |            7,366 |
|                                                  |                                                                                                    |                                                                                                    |                                                                                                    |   |   |   |   |
| Interest                    bearing liabilities:      |                                                                                                    |                                                                                                    |                                                                                                    |   |   |   |   |
| Deposits                                              |  $        2,056                                            |  $        1,245                                            |  $        3,301                                            |   |  $        3,382 |  $        2,527 |  $        5,909 |
| FHLB                    advances                      |             (392)                           |                (7)           |             (399)                           |   |             (514) |                27 |             (487) |
| Subordinated                    debt                  |                  - |                  7 |                  7 |   |                  - |                24 |                24 |
| Other                    borrowings                   |                (2)           |                  - |                (2)           |   |                (4) |                  - |                (4) |
| Total                    interest                     |                                                                                                    |                                                                                                    |                                                                                                    |   |   |   |   |
|   bearing                    liabilities    |            1,662                                 |            1,245                                 |            2,907                                 |   |            2,864 |            2,578 |            5,442 |
|                                                  |                                                                                                    |                                                                                                    |                                                                                                    |   |   |   |   |
| Net                    interest income                |  $        1,647                                            |  $         (713)                                      |  $           934                            |   |  $        3,563 |  $       (1,639) |  $        1,924 |

----

***Provision        for loan losses***

***Non-interest        income***

----

***Non-interest        expenses***

----

***Income        Taxes***

**LIQUIDITY**

**CAPITAL**

|   |                                         |   | June                    30, 2007 |   |   | December                    31, 2006 |   |   |
|--------|----------------------------------------------|--------|----------------------------------|--------|--------|--------------------------------------|--------|--------|
|   | Total                    Risk-based Capital  |   |                             | 12.85  | %      |                                 |   | 15.34  | % |   |
|   | Tier                    1 Risk-based Capital |   |                             | 11.92  | %      |                                 |   | 14.22  | % |   |
|   | Leverage                    Capital          |   |                             | 9.84   | %      |                                 |   | 11.63  | % |   |
|   |                                         |   |                             |   |   |                                 |   |   |   |   |

|   |                                         |   | June                    30, 2007 |   |   | December                    31, 2006 |   |   |
|--------|----------------------------------------------|--------|----------------------------------|--------|--------|--------------------------------------|--------|--------|
|   | Total                    Risk-based Capital  |   |                             | 12.64  | %      |                                 |   | 15.02  | % |   |
|   | Tier                    1 Risk-based Capital |   |                             | 11.72  | %      |                                 |   | 13.90  | % |   |
|   | Leverage                    Capital          |   |                             | 9.67   | %      |                                 |   | 11.37  | % |   |

----

**IMPACT        OF INFLATION AND CHANGING PRICES**

----

**Item        3.    Quantitative and        Qualitative Disclosures about Market Risk**

**Qualitative        Aspects of Market Risk**

**Quantitative        Aspects of Market Risk**

----

|                                    | Basis  | Interest                    Rate   | June                    30, | December                    31, |
|-----------------------------------------|--------|------------------------------------|-----------------------------|---------------------------------|
|                                    | Points | Risk                    Guidelines | 2007                        | 2006                            |
|                                    |   |                               |                        |                            |
| Gap                    percentage total |   | +/-                    15%         | -3.27%                      | 1.53%                           |
| Net                    interest income  | 200    | +/-                    15%         | 7.81%                       | 11.22%                          |
|                                    | -200   | +/-                    15%         | -7.35%                      | -12.04%                         |
| Net                    portfolio value  | 200    | +/-                    25%         | -5.13%                      | -3.25%                          |
|                                    | -200   | +/-                    25%         | 1.18%                       | 1.19%                           |

----

| Net                    Interest Income and Economic Value |
|-----------------------------------------------------------|
| Summary                    Performance                    |
|                   |
| June                    30, 2007                          |
|                                                      | Net                    Interest Income  |   | Net                    Portfolio Value |
| Projected                    Interest                     | Estimated | $                    Change | %                    Change |   | Estimated | $                    Change | %                    Change |
| Rate                    Scenario                          | Value | from                    Base | from                    Base |   | Value | from                    Base | from                    Base |
| +                    200                                  |       26,651 |         1,931 | 7.81% |   |       79,447 |       (4,295) | -5.13% |
| +                    100                                  |       25,717 |            997 | 4.03% |   |       82,307 |       (1,435) | -1.71% |
| BASE                                                      |       24,720 |   |   |   |       83,742 |   |   |
| -                    100                                  |       23,858 |          (862) | -3.49% |   |       84,783 |         1,041 | 1.24% |
| -                    200                                  |       22,903 |       (1,817) | -7.35% |   |       84,728 |            986 | 1.18% |
|                                                      |   |   |   |   |   |   |   |
| December                    31, 2006                      |
|                                                      | Net                    Interest Income  |   | Net                    Portfolio Value |
| Projected                    Interest                     | Estimated | $                    Change | %                    Change |   | Estimated | $                    Change | %                    Change |
| Rate                    Scenario                          | Value | from                    Base | from                    Base |   | Value | from                    Base | from                    Base |
| +                    200                                  |       23,940 |         2,415 | 11.22% |   |       68,230 |       (2,290) | -3.25% |
| +                    100                                  |       22,750 |         1,225 | 5.69% |   |       69,491 |       (1,029) | -1.46% |
| BASE                                                      |       21,525 |   |   |   |       70,520 |   |   |
| -                    100                                  |       20,307 |       (1,218) | -5.66% |   |       71,533 |         1,013 | 1.44% |
| -                    200                                  |       18,934 |       (2,591) | -12.04% |   |       71,359 |            839 | 1.19% |

----

**Item        4.    Controls and        Procedures**

**PART        II - OTHER INFORMATION**

| **Item                  1A.**                                                                                                                                                                                                                                                                                                                | **Risk                  Factors**                                                 |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                         |                                                                                   |   |
| During                  the three and six months ended June 30, 2007, there were no material                  changes to the risk factors relevant to Bancorp’s operations, which are                  described in the Annual Report on Form 10-K for the year ended                  December                  31, 2006.   |
|                                                                                                                                                                                                                                                                                                                                         |                                                                                   |   |
| **Item                  2.**                                                                                                                                                                                                                                                                                                                 | **Unregistered                  Sales of Equity Securities and Use of Proceeds**  |
|                                                                                                                                                                                                                                                                                                                                         |                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                         | (a)                                                                                    | On                  June 25, 2007, the Company issued 2,350 shares of its common stock                  to its                  five outside directors. Pursuant to a policy adopted by the Board                  of                  Directors, outside directors serving on the board receive an annual                  award                  of the Company’s common stock at each year’s annual meeting valued at                  $10,000 based on the last reported sale price on the trading day                  immediately preceding the Annual Meeting.  The award is prorated                  for directors who have served less than a full year.  The shares                  have not been registered under the Securities Act of 1933 and therefore                  were issued in a private placement transaction exempt from registration                  under Section 4(2) |

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|                         |                                                                           | of                the Securities Act. For purposes of this transaction, the Company                shares                were valued at $21.26 per share, for a total value of                $49,961.                                                                               |
|------------------------------|--------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                         |                                                                           |                                                                                                                                                                                                                                                                                      |
|                         | (b)                                                                            | Not                  applicable                                                                                                                                                                                                                                                           |
|                         |                                                                           |                                                                                                                                                                                                                                                                                      |
|                         | (c)                                                                            | Not                  applicable                                                                                                                                                                                                                                                           |
|                         |                                                                           |                                                                                                                                                                                                                                                                                      |
|                         | (d)                                                                            | Not                  applicable                                                                                                                                                                                                                                                           |
|                         |                                                                           |                                                                                                                                                                                                                                                                                      |
| **Item                  4.** | **Submission                  of Matters to a Vote of Security Holders**  |
|                         |                                                                           |                                                                                                                                                                                                                                                                                      |
|                         | (a)                                                                            | The                  Annual Meeting of Shareholders (the “Annual Meeting”) of Patriot National                  Bancorp, Inc was held on June 20, 2007.                                                                                                                       |
|                         |                                                                           |                                                                                                                                                                                                                                                                                      |
|                         | (b)                                                                            | Not                  applicable pursuant to Instruction 3 to Item 4 of Part II of                  Form 10-Q.                                                                                                                                                                        |
|                         |                                                                           |                                                                                                                                                                                                                                                                                      |
|                         | (c)                                                                            | The                  following is a brief description of the matters voted upon at the                  Annual                  Meeting and the number of votes cast for, against or withheld as                  well as                  the number of abstentions to each such matter: |
|                         |                                                                           |                                                                                                                                                                                                                                                                                      |
|                         |                                                                           | (i)                  The election of nine directors for the ensuing                  year:                                                                                                                                                                                                |

|                                       |      | Withheld                      |
|--------------------------------------------|-----------|-------------------------------|
|                                       |      | Authority                  to |
|                                       | For       | Vote                  For     |
|                                       |      |                          |
| Angelo                  De Caro            | 4,360,472 | 124,984                       |
| John                  J. Ferguson          | 4,476,456 | 9,000                         |
| Brian                  A. Fitzgerald       | 4,476,456 | 9,000                         |
| John                  A. Geoghegan         | 4,476,456 | 9,000                         |
| L.                  Morris Glucksman       | 4,476,310 | 9,146                         |
| Charles                  F. Howell         | 4,360,472 | 124,984                       |
| Michael                  F. Intrieri       | 4,474,179 | 11,277                        |
| Robert                  F. O’Connell | 4,360,472 | 124,984                       |
| Philip                  W. Wolford         | 4,476,036 | 9,420                         |

|   |   | There                  were no abstentions or broker non-votes for any of the                  nominees. |
|--------|--------|----------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                     |   |
|   |   | (ii)                                                                                                     | The                  consideration of a proposal to ratify the appointment of                  McGladrey & Pullen, LLP as independent auditors for Bancorp                  for the year ending December 31,                  2007. |

|   | For       | Against | Abstain |   |
|--------|-----------|---------|---------|--------|
|   | 4,480,639 | 4,500   | 317     |   |

|   | (d) | Not                  applicable. |
|--------|-----|----------------------------------|

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| **Item                  6.** | **Exhibits** |                                                                                                                                                                                                                                                                                                                                                                                                      |
|------------------------------|--------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                         |         |                                                                                                                                                                                                                                                                                                                                                                                                      |
|                         | No.          | Description                                                                                                                                                                                                                                                                                                                                                                                               |
|                         |         |                                                                                                                                                                                                                                                                                                                                                                                                      |
|                         | 2            | Agreement                  and Plan of Reorganization dated as of June 28, 1999 between                  Bancorp and the Bank (incorporated by reference to Exhibit 2 to                  Bancorp’s                  Current Report on Form 8-K dated December 1, 1999 (Commission File                  No.                  000-29599)).                                                |
|                         |         |                                                                                                                                                                                                                                                                                                                                                                                                      |
|                         | 3(i)         | Certificate                  of Incorporation of Bancorp, (incorporated by reference to Exhibit                  3(i) to                  Bancorp’s Current Report on Form 8-K dated December 1, 1999 (Commission                  File No. 000-29599)).                                                                                                                                            |
|                         |         |                                                                                                                                                                                                                                                                                                                                                                                                      |
|                         | 3(i)(A)      | Certificate                  of Amendment of Certificate of Incorporation of Patriot National                  Bancorp,                  Inc. dated July 16, 2004 (incorporated by reference to Exhibit                  3(i)(A) to                  Bancorp's Annual Report on Form 10-KSB for the year ended                  December 31, 2004 (Commission File No.                  000-29599)). |
|                         |         |                                                                                                                                                                                                                                                                                                                                                                                                      |
|                         | 3(i)(B)      | Certificate                  of Amendment of Certificate of Incorporation of Patriot National                  Bancorp,                  Inc. dated June 15, 2006 (incorporated by reference to Exhibit                  3(i)(B) to                  Bancorp’s Quarterly Report of Form 10-Q for the quarter ended September                  30, 2006 (commission File No. 000-29599)).            |
|                         |         |                                                                                                                                                                                                                                                                                                                                                                                                      |
|                         | 3(ii)        | By-laws                  of Bancorp (incorporated by reference to Exhibit 3(ii) to Bancorp’s                  Current Report on Form 8-K dated December 1, 1999 (Commission                  File No. 000-29599)).                                                                                                                                                                        |
|                         |         |                                                                                                                                                                                                                                                                                                                                                                                                      |
|                         | 4            | Reference                  is made to the Rights Agreement dated April 19, 2004 by and                  between Patriot National Bancorp, Inc. and Registrar and Transfer                  Company                  filed as Exhibit 99.2 to Bancorp’s Report on Form 8-K filed on April 19,                  2004, which is incorporated herein by reference.                            |
|                         |         |                                                                                                                                                                                                                                                                                                                                                                                                      |
|                         | 10(a)(1)     | 2001                  Stock Appreciation Rights Plan of Bancorp (incorporated by reference                  to                  Exhibit 10(a)(1) to Bancorp’s Annual Report on Form 10-KSB for the year                  ended December 31, 2001 (Commission File No.                  000-29599)).                                                                                       |

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|   | No.       | Description                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|--------|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   | 10(a)(3)  | Employment                  Agreement, dated as of October 23, 2000, as amended by a First                  Amendment,                  dated as of March 21, 2001, among the Bank, Bancorp and Charles                  F. Howell                  (incorporated by reference to Exhibit 10(a)(4) to Bancorp’s Annual Report                  on Form 10-KSB for the year ended December 31, 2000 (Commission                  File No.                  000-29599)). |
|   |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   | 10(a)(4)  | Change                  of Control Agreement, dated as of January 1, 2007 among Angelo De                  Caro and Patriot National Bank and Bancorp (incorporated by reference                  to Exhibit 10(a)(4) to Bancorp’s Annual Report on Form 10-K for the year                  ended December 31, 2006 (Commission File No.                  000-29599)).                                                                        |
|   |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   | 10(a)(5)  | Employment                  Agreement dated as of November 3, 2003 among Patriot National Bank,                  Bancorp and Robert F. O’Connell (incorporated by reference to Exhibit                  10(a)(5) to Bancorp’s Annual Report on Form 10-KSB for the year ended                  December 31, 2003 (Commission File No. 000-29599)).                                                                                                               |
|   |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   | 10(a)(6)  | Change                  of Control Agreement, dated as of January 1, 2007 among                  Robert F. O’Connell and Patriot National Bank and Bancorp                  (incorporated by reference to Exhibit 10(a)(6) to Bancorp’s Annual Report                  on Form 10-K for the year ended December 31, 2006 (Commission                  File No. 000-29599)).                                                                  |
|   |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   | 10(a)(8)  | Employment                  Agreement dated as of January 1, 2007 between Patriot National                  Bank and                  Marcus Zavattaro (incorporated by reference to Exhibit 10(a)(8)                  to                  Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2006                  (Commission File No. 000-29599)).                                                                                           |
|   |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   | 10(a)(9)  | License                  agreement dated July 1, 2003 between Patriot National Bank and                  L. Morris                  Glucksman (incorporated by reference to Exhibit 10(a)(9) to Bancorp’s                  Annual Report on Form 10-KSB for the year ended December 31, 2003                  (Commission File No. 000-29599)).                                                                                                                   |
|   |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   | 10(a)(10) | Employment                  Agreement dated as of January 1, 2007 among the Bank, Bancorp and                  Charles                  F. Howell (incorporated by reference to Exhibit 10(a)(10) to Bancorp’s                  Annual Report on Form 10-K for the year ended December 31, 2006                  (Commission File No.                  000-29599)).                                                                                               |

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|   | No.       | Description                                                                                                                                                                                                                                                                                                                                                                                                                    |
|--------|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |      |                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | 10(a)(11) | Change                  of Control Agreement, dated as of January 1, 2007 among Charles                  F. Howell,                  Patriot National Bank and Bancorp (incorporated by reference to                  Exhibit                  10(a)(11) to Bancorp’s Annual Report on Form 10-K for the year ended                  December 31, 2006 (Commission File No.                  000-29599)). |
|   |      |                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | 10(a)(12) | 2005                  Director Stock Award Plan (incorporated by reference to Exhibit                  10(a)(12)                  to Bancorp’s Quarterly Report on Form 10-Q for the quarter ended June 30,                  2006 (Commission File No. 000-295999)).                                                                                                                                                     |
|   |      |                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | 10(a)(13) | Change                  of Control Agreement, dated as of January 1, 2007 between Martin                  G. Noble                  and Patriot National Bank(incorporated by reference to Exhibit                  10(a)(13)                  to Bancorp’s Annual Report on Form 10-K for the year ended December 31,                  2006 (Commission File No. 000-29599)).                                      |
|   |      |                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | 10(a)(14) | Change                  of Control Agreement, dated as of January 1, 2007 among Philip                  W. Wolford,                  Patriot National Bank and Bancorp(incorporated by reference to                  Exhibit                  10(a)(14) to Bancorp’s Annual Report on Form 10-K for the year ended                  December 31, 2006 (Commission File No.                  000-29599)).            |
|   |      |                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | 10(c)     | 1999                  Stock Option Plan of the Bank (incorporated by reference to Exhibit                  10(c)                  to Bancorp’s Current Report on Form 8-K dated December 1, 1999 (Commission                  File No. 000-29599)).                                                                                                                                                                      |
|   |      |                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | 14        | Code                  of Conduct for Senior Financial Officers (incorporated by reference                  to                  Exhibit 14 to Bancorp’s Annual Report on Form 10-KSB for the year ended                  December 31, 2004 (Commission File No. 000-29599).                                                                                                                                               |
|   |      |                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | 21        | Subsidiaries                  of Bancorp (incorporated by reference to Exhibit 21 to Bancorp’s Annual                  Report on Form 10-KSB for the year ended December 31, 1999 (Commission                  File No. 000-29599)).                                                                                                                                                                                     |
|   |      |                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | 31(1)     | Rule                  13a-14(a)/15d-14(a) Certification of Chief Executive                  Officer                                                                                                                                                                                                                                                                                                                            |
|   |      |                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | 31(2)     | Rule                  13a-14(a)/15d-14(a) Certification of Chief Financial                  Officer                                                                                                                                                                                                                                                                                                                            |
|   |      |                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | 32        | Section                  1350 Certifications                                                                                                                                                                                                                                                                                                                                                                                   |

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**SIGNATURES**

|   | PATRIOT                  NATIONAL BANCORP, INC.                     |
|--------|---------------------------------------------------------------------|
|   | (Registrant)                                                        |
|   |                                                                |
|   |                                                                |
|   | By:   /s/                  Robert F. O’Connell |
|   | Robert                  F. O’Connell,                         |
|   | Senior                  Executive Vice President                    |
|   | Chief                  Financial Officer                            |
|   |                                                                |
|   | (On                  behalf of the registrant and as                |
|   | chief                  financial officer)                           |

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