PATRIOT NATIONAL BANCORP INC
For the period ended Jun 30, 2026. Filed Aug 14, 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.
Jun 30, 2026 · Filed Aug 14, 2026
PNBK$0.84-4.7%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows (Unaudited)
| (In thousands) | Six Months Ended June 30, | |
|---|---|---|
| 2026 | 2025 | |
| Cash Flows from Operating Activities: | ||
| Net (loss) income | $(1,612) | $(7,778) |
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||
| Accretion of investment premiums and discounts, net | (1,941) | (77) |
| Amortization and accretion of purchase loan premiums and discounts, net | (472) | (21) |
| Amortization of debt issuance costs | 17 | 106 |
| Amortization of core deposit intangible | 23 | 24 |
| Amortization of servicing assets of sold SBA loans | 22 | 68 |
| Provision for credit losses | 409 | 2,257 |
| Depreciation and amortization | 458 | 534 |
| Loss on sales of available-for-sale securities, net | 11 | — |
| Gain on sale of premises and equipment | — | (1) |
| Share-based compensation | 3,339 | 1,296 |
| Increase in deferred tax assets | (3,349) | — |
| Increase (decrease) in deferred tax liabilities | 1,836 | (48) |
| Originations of loans held for sale, net | (478,116) | (406,732) |
| Proceeds from sale of loans held for sale | 473,480 | 403,450 |
| Loss on sale of loans, net | 10 | 916 |
| Write-down of other real estate owned | — | 253 |
| Unrealized loss on loans held for sale | 5,451 | — |
| Changes in assets and liabilities: | ||
| (Increase) decrease in accrued interest and dividends receivable | (1,665) | 564 |
| (Increase) decrease in other assets | (3,702) | 1,744 |
| Decrease in accrued expenses and other liabilities | (2,744) | (1,445) |
| Net cash used in operating activities | (8,545) | (4,890) |
| Cash Flows from Investing Activities: | ||
| Proceeds from maturity or sales on available-for-sale securities | 29,062 | — |
| Principal repayments on available-for-sale securities | 3,954 | 1,688 |
| Purchases of available-for-sale securities | (51,024) | — |
| Purchases of FRB stock | (70) | (974) |
| (Purchases) redemptions of FHLB stock | (63) | 100 |
| (Purchases and originations of) payments received from loans, net | (291,630) | 120,799 |
| Purchases of premises and equipment, net | (578) | (72) |
| Net cash (used in) provided by investing activities | (310,349) | 121,541 |
| Cash Flows from Financing Activities: | ||
| Increase (decrease) in deposits, net | 235,161 | (135,740) |
| Net increase (decrease) in short-term advances | — | (3,000) |
| Purchase of common stock for RSU settlements | (3,203) | — |
| Increase in advances from borrowers for taxes and insurance | 1,318 | 1,504 |
| Proceeds from FRB and correspondent bank borrowings | — | 70,000 |
| Repayments of FRB and correspondent bank borrowings | — | (70,000) |
| Principal repayments of note payable | — | (108) |
| Proceeds from preferred stock issuance | — | 5,450 |
| Private Placement Costs for preferred stock | — | (351) |
| Proceeds from common stock issuance | — | 59,735 |
| Private Placement Costs for common stock | — | (3,779) |
| Net cash provided by (used in) financing activities | 233,276 | (76,289) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (85,618) | 40,362 |
| Cash, cash equivalents and restricted cash at beginning of period | 207,127 | 162,610 |
| Cash, cash equivalents and restricted cash at end of period | $121,509 | $202,972 |
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Continued)
| (In thousands) | Six Months Ended June 30, | |
|---|---|---|
| 2026 | 2025 | |
| Supplemental Disclosures of Cash Flow Information: | ||
| Cash paid for interest | $15,405 | $15,927 |
| Cash refund from income taxes, net | — | (18) |
| Net change in unrealized loss (gain) on available-for-sale securities | 4,268 | (2,246) |
| Deposits applied under indemnification and setoff rights | 5,338 | — |
| Transfers of loans held for sale to loans receivable | — | 3,765 |
| Operating lease right-of-use assets / liabilities | 2,038 | — |
| Increase in interest rate swaps | 13 | — |
| Capitalized project costs | 87 | — |
| Retained beneficial interest | (170) | — |
| Deferred cost for capital raise | — | (120) |
| Deferred debt issuance costs | — | (23) |
| Subordinated debt conversion to common stock | — | (2,000) |
| Senior debt conversion to common stock | — | (6,847) |
| Accrued interest capitalized into principal | — | 1,090 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.