PATRIOT NATIONAL BANCORP INC
For the period ended Dec 31, 2024. Filed Apr 15, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Apr 15, 2025
PNBK$0.84-4.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets as of December 31, and
CONSOLIDATED BALANCE SHEETS
| December 31, | ||
|---|---|---|
| (In thousands, except share data) | 2024 | 2023 |
| Assets | ||
| Cash and due from banks: | ||
| Noninterest bearing deposits and cash | $3,295 | $2,195 |
| Interest bearing deposits | 144,273 | 50,322 |
| Restricted cash | 15,042 | 14,019 |
| Total cash, cash equivalents and restricted cash | 162,610 | 66,536 |
| Investment securities: | ||
| Available-for-sale securities, at fair value | 79,992 | 89,187 |
| Other investments, at cost | 4,450 | 4,450 |
| Total investment securities | 84,442 | 93,637 |
| Federal Reserve Bank (FRB) stock, at cost | 1,377 | 2,090 |
| Federal Home Loan Bank (FHLB) stock, at cost | 779 | 4,202 |
| Loans receivable (net of allowance for credit losses: 2024: $(7,305) and 2023: $(15,925)) | 700,167 | 832,934 |
| Loans held for sale | 15,702 | 20,767 |
| Accrued interest and dividends receivable | 5,488 | 7,219 |
| Premises and equipment, net | 28,865 | 29,875 |
| Other real estate owned | 2,843 | 2,843 |
| Deferred tax asset | — | 24,134 |
| Core deposit intangible, net | 156 | 203 |
| Other assets | 9,863 | 8,985 |
| Total assets | $1,012,292 | $1,093,425 |
| Liabilities | ||
| Deposits: | ||
| Noninterest bearing deposits | $119,212 | $110,056 |
| Interest bearing deposits | 847,385 | 730,255 |
| Total deposits | 966,597 | 840,311 |
| FHLB, FRB and correspondent bank borrowings | 3,000 | 171,000 |
| Senior notes, net | 11,861 | 11,723 |
| Subordinated debt, net | 9,898 | 9,869 |
| Junior subordinated debt owed to unconsolidated trust, net | 8,147 | 8,137 |
| Note payable | 162 | 376 |
| Advances from borrowers for taxes and insurance | 1,472 | 1,164 |
| Accrued expenses and other liabilities | 6,890 | 6,462 |
| Total liabilities | 1,008,027 | 1,049,042 |
| Commitments and Contingencies | ||
| Shareholders' equity | ||
| Preferred stock, no par value; 1,000,000 shares authorized, no shares issued and outstanding | — | — |
| Common stock, $.01 par value, 100,000,000 shares authorized; As of December 31, 2024: 4,065,593 shares issued; 3,991,852 shares outstanding; As of December 31, 2023: 4,049,814 shares issued; 3,976,073 shares outstanding; | 106,854 | 106,670 |
| Accumulated deficit | (86,908) | (47,026) |
| Accumulated other comprehensive loss | (15,681) | (15,261) |
| Total shareholders' equity | 4,265 | 44,383 |
| Total liabilities and shareholders' equity | $1,012,292 | $1,093,425 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.