PATRIOT NATIONAL BANCORP INC
For the period ended Mar 31, 2026. Filed May 15, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 15, 2026
PNBK$0.84-4.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows (Unaudited)
| (In thousands) | Three Months Ended March 31, | |
|---|---|---|
| 2026 | 2025 | |
| Cash Flows from Operating Activities: | ||
| Net loss | $(1,755) | $(2,777) |
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||
| Accretion of investment premiums and discounts, net | (920) | (37) |
| Amortization and accretion of purchase loan premiums and discounts, net | (1) | (37) |
| Amortization of debt issuance costs | 9 | 106 |
| Amortization of core deposit intangible | 12 | 12 |
| Amortization of servicing assets of sold SBA loans | 9 | 28 |
| (Credit) provision for credit losses | (181) | 733 |
| Depreciation and amortization | 214 | 250 |
| Loss on sales of available-for-sale securities | 11 | — |
| Share-based compensation | 2,282 | 181 |
| Increase in deferred tax liabilities | 13 | 1 |
| Originations of loans held for sale, net | (287,229) | (187,291) |
| Proceeds from sale of loans held for sale | 291,588 | 181,109 |
| Gain on sale of loans, net | — | (43) |
| Net gain on sale and write-down of other real estate owned | — | 253 |
| Changes in assets and liabilities: | ||
| (Increase) decrease in accrued interest and dividends receivable | (1,403) | 441 |
| (Increase) decrease in other assets | (5,023) | 795 |
| (Decrease) increase in accrued expenses and other liabilities | (538) | 465 |
| Net cash used in operating activities | (2,912) | (5,811) |
| Cash Flows from Investing Activities: | ||
| Proceeds from maturity or sales on available-for-sale securities | 29,062 | — |
| Principal repayments on available-for-sale securities | 2,028 | 827 |
| Purchases of available-for-sale securities | (51,024) | — |
| (Purchases) Redemptions of FRB stock | (92) | 349 |
| (Purchases) redemptions of FHLB stock | (303) | 100 |
| (Purchases of) payments received from loans receivable, net | (165,293) | 33,055 |
| Purchases of premises and equipment, net | (545) | (70) |
| Net cash (used in) provided by investing activities | (186,167) | 34,261 |
| Cash Flows from Financing Activities: | ||
| Increase (decrease) in deposits, net | 82,640 | (104,163) |
| Proceeds from (repayments from) FHLB daily borrowing, net | 10,000 | (3,000) |
| Proceeds from FRB and correspondent bank borrowings | — | 60,000 |
| Repayments of FRB and correspondent bank borrowings | — | (60,000) |
| Principal repayments of note payable | — | (53) |
| Increase in advances from borrowers for taxes and insurance | 1,288 | 1,957 |
| Proceeds from preferred stock issuance | — | 5,100 |
| Proceeds from common stock issuance | — | 45,300 |
| Purchase of common stock for RSU settlements | (2,784) | — |
| Net cash provided by (used in) financing activities | 91,144 | (54,859) |
| Net decrease in cash, cash equivalents and restricted cash | (97,935) | (26,409) |
| Cash, cash equivalents and restricted cash at beginning of period | 207,127 | 162,610 |
| Cash, cash equivalents and restricted cash at end of period | $109,192 | $136,201 |
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Continued)
| (In thousands) | Three Months Ended March 31, | |
|---|---|---|
| 2026 | 2025 | |
| Supplemental Disclosures of Cash Flow Information: | ||
| Cash paid for interest | $8,088 | $9,133 |
| Cash refund from income taxes, net | — | (18) |
| Net change in unrealized loss (gain) on available-for-sale securities | 2,216 | (1,449) |
| Transfers of loans held for sale to loans receivable | — | 1,113 |
| Operating lease right-of-use assets / liabilities | 2,038 | — |
| Increase (decrease) in interest rate swaps | 5 | — |
| Capitalized project costs | 43 | — |
| Retained beneficial interest | (93) | — |
| Deferred cost for capital raise | — | (120) |
| Deferred debt issuance costs | — | (23) |
| Private Placement Costs for preferred stock | — | (351) |
| Private Placement Costs for common stock | — | (3,371) |
| Subordinated debt conversion to common stock | — | (2,000) |
| Senior debt conversion to common stock | — | (5,000) |
| Accrued interest capitalized into principal | — | 882 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.