NASDAQ : PNBK

Patriot National Bancorp, Inc. — Financial statements

Financials · Banks - Regional · United States

Last price 0.844 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 110.39M

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Financial statements

Income statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Interest Income on Loans39.76M36.56M47.32M54.31M40.82M30.11M
Interest Income on Investments15.18M11.28M5.04M4.65M3.19M2.24M
Total Interest Income54.94M47.84M52.36M58.96M44.01M32.35M
Interest Paid on Deposits26.38M26.66M26.05M21.67M5.30M2.24M
Interest Paid on Borrowings1.55M2.07M6.24M8.79M5.45M4.85M
Total Interest Expense27.93M28.73M32.28M30.46M10.75M7.09M
Net Interest Income27.00M19.11M20.08M28.50M33.26M25.26M
Gain (Loss) on Sale of Investments-11.00K-334.00K24.00K76.00K
Other Non-Interest Income12.32M11.22M7.72M5.53M1.89M2.21M
Total Non-Interest Income12.09M10.51M8.36M6.00M3.60M4.42M
Revenues Before Loan Losses39.09M29.63M28.44M34.51M36.86M29.68M
Provision for Loan Losses-343.00K1.50M12.46M7.43M1.89M-500.00K
Revenue39.44M28.12M15.98M27.08M34.98M30.18M
Salaries and Employee Benefits18.64M17.28M17.76M17.54M15.47M11.00M
Occupancy Expenses2.80M2.55M2.69M2.82M2.83M2.85M
Federal Deposit Insurance1.95M1.74M1.36M1.18M817.00K907.00K
Selling, General & Administrative17.01M12.97M7.00M6.48M5.46M8.00M
Other Non-Interest Expense6.47M5.72M3.21M3.54M2.59M2.36M
Total Non-Interest Expense47.39M40.77M32.08M31.60M27.22M25.17M
EBT Excluding Unusual Items-7.95M-12.65M-16.10M-4.53M7.76M5.01M
Asset Writedown-1.11M
Pretax Income-7.95M-12.65M-16.10M-5.63M7.76M5.01M
Income Tax Expense-1.41M59.00K23.79M-1.45M1.60M-81.00K
Net Income-6.54M-12.71M-39.88M-4.18M6.16M5.09M
Net Income to Common-6.54M-12.71M-39.88M-4.18M6.16M5.09M
Basic Shares Outstanding112.51M76.81M3.98M3.97M3.96M3.95M
Diluted Shares Outstanding112.51M76.81M3.98M3.97M3.96M3.95M
EPS (Basic)-0.06-0.17-10.03-1.051.561.29
EPS (Diluted)-0.06-0.17-10.03-1.051.551.29
Effective Tax Rate20.57%

Balance sheet

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Cash & Equivalents116.89M186.39M147.57M52.52M38.49M47.05M
Investment Securities20.24M20.61M19.77M23.52M25.47M27.71M
Trading Asset Securities52.00K39.00K83.00K74.00K203.00K738.00K
Mortgage-Backed Securities220.10M204.07M60.22M65.67M59.05M66.63M
Total Investments240.40M224.72M80.08M89.26M84.72M95.08M
Gross Loans885.91M592.56M707.47M848.86M848.32M739.49M
Allowance for Loan Losses-8.47M-6.84M-7.30M-15.93M-10.31M-9.90M
Net Loans877.44M585.72M700.17M832.93M838.01M729.58M
Property, Plant & Equipment28.26M29.25M30.36M31.57M32.84M34.10M
Goodwill1.11M1.11M
Other Intangible Assets86.00K109.00K156.00K203.00K249.00K296.00K
Loans Held for Sale23.70M24.51M15.70M20.77M5.21M3.13M
Accrued Interest Receivable6.53M4.87M5.49M7.22M7.27M5.82M
Restricted Cash4.62M20.74M15.04M14.02M1.40M
Long-Term Deferred Tax Assets24.13M15.53M12.15M
Other Real Estate Owned & Foreclosed2.84M2.84M
Other Long-Term Assets19.05M10.85M14.11M13.75M16.06M14.59M
Total Assets1.32B1.09B1.01B1.09B1.04B948.48M
Accrued Expenses8.99M7.39M3.07M3.25M4.06M6.87M
Interest Bearing Deposits983.03M782.54M782.11M665.51M530.93M468.26M
Institutional Deposits67.46M76.48M65.28M64.75M59.88M53.58M
Non-Interest Bearing Deposits150.46M106.77M119.21M110.06M269.64M226.71M
Total Deposits1.20B965.79M966.60M840.31M860.45M748.56M
Short-Term Borrowings52.00K39.00K83.00K74.00K203.00K738.00K
Current Portion of Long-Term Debt3.16M171.38M12.00M
Current Portion of Leases382.00K
Accrued Interest Payable615.00K1.42M1.24M585.00K343.00K
Long-Term Debt8.30M8.29M21.76M21.59M22.07M10.60M
Federal Home Loan Bank Debt, Long-Term85.00M90.00M
Long-Term Leases821.00K1.60M1.90M2.40M2.80M
Trust Preferred Securities8.16M8.16M8.15M8.14M8.13M8.12M
Long-Term Deferred Tax Liabilities783.00K724.00K
Other Long-Term Liabilities2.32M893.00K1.47M1.16M886.00K1.10M
Total Liabilities1.23B993.16M1.01B1.05B983.78M881.14M
Common Stock1.18M1.15M41.00K106.67M106.56M106.48M
Additional Paid-In Capital206.56M206.45M107.99M
Retained Earnings-101.23M-99.62M-86.91M-47.03M-31.34M-37.50M
Treasury Stock-1.18M-1.18M-1.18M
Comprehensive Income & Other-16.39M-12.12M-15.68M-15.26M-15.64M-1.64M
Shareholders' Equity88.94M94.68M4.26M44.38M59.58M67.34M
Total Liabilities & Equity1.32B1.09B1.01B1.09B1.04B948.48M
Total Debt16.52M17.69M34.75M203.08M117.80M124.26M
Net Cash (Debt)100.43M168.74M112.90M-150.49M-79.10M-76.48M
Net Cash Per Share0.892.2028.39-37.95-19.96-19.35
Filing Date Shares Outstanding118.74M117.09M73.73M3.98M3.97M3.96M
Total Common Shares Outstanding117.66M115.00M3.99M3.98M3.97M3.96M
Book Value Per Share0.760.821.0711.1615.0317.02
Tangible Book Value88.85M94.57M4.11M44.18M58.23M65.94M
Tangible Book Value Per Share0.760.821.0311.1114.6816.67

Cash flow statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Net Income-6.54M-12.71M-39.88M-4.18M6.16M5.09M
Depreciation & Amortization1.06M1.19M1.35M1.35M1.47M1.64M
Other Amortization104.00K193.00K177.00K177.00K38.00K111.00K
Gain (Loss) on Sale of Assets-176.00K76.00K-3.00K-552.00K
Gain (Loss) on Sale of Investments-2.19M-336.00K174.00K-140.00K-51.00K191.00K
Total Asset Writedown1.11M
Provision for Credit Losses-343.00K1.50M12.46M7.43M1.89M-500.00K
Net Decrease (Increase) in Loans Originated / Sold - Operating-8.68M-12.78M4.32M-15.39M-895.00K-307.00K
Accrued Interest Receivable-1.61M619.00K1.73M48.00K-1.45M798.00K
Change in Other Net Operating Assets-6.01M730.00K-1.23M1.25M-2.96M1.04M
Other Operating Activities-2.03M-115.00K23.84M-2.31M4.21M1.83M
Operating Cash Flow-17.82M-14.17M2.68M-10.71M7.04M7.60M
Capital Expenditures-678.00K-172.00K-55.00K-412.00K-414.00K-430.00K
Sale of Property, Plant and Equipment1.00K1.00K13.00K1.46M
Investment in Securities-156.03M-136.34M9.63M-4.31M-9.01M-46.78M
Net Decrease (Increase) in Loans Originated / Sold - Investing-297.73M114.70M121.28M-22.66M-113.16M-11.63M
Other Investing Activities-743.00K-1.48M4.14M209.00K526.00K259.00K
Investing Cash Flow-452.41M-20.52M135.01M-27.18M-122.05M-55.20M
Long-Term Debt Issued70.00M42.00M301.50M52.00M
Long-Term Debt Repaid-76.05M-210.21M-215.71M-57.21M-203.00K
Net Debt Issued (Repaid)-2.94M-6.05M-168.21M85.79M-5.21M-203.00K
Issuance of Common Stock25.84M85.57M
Repurchase of Common Stock-3.20M
Preferred Stock Issued5.45M
Net Increase (Decrease) in Deposit Accounts370.09M-811.00K126.29M-20.14M111.88M62.91M
Other Financing Activities-1.01M-4.95M308.00K278.00K-215.00K-2.69M
Financing Cash Flow388.78M79.21M-41.62M65.93M106.46M60.02M
Net Cash Flow-81.46M44.52M96.07M28.04M-8.55M12.41M
Free Cash Flow-18.50M-14.34M2.63M-11.13M6.62M7.17M
Free Cash Flow Margin-46.92%-51.00%16.44%-41.09%18.93%23.74%
Free Cash Flow Per Share-0.16-0.190.66-2.811.671.81
Cash Interest Paid28.80M29.32M31.92M29.63M10.47M7.21M
Cash Income Tax Paid2.00K-16.00K66.00K3.54M102.00K140.00K

Ratios

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Market Capitalization108.94M209.28M7.71M15.19M41.95M61.39M
Last Close Price0.831.821.943.8310.6015.55
PE Ratio6.8112.05
PS Ratio2.767.440.480.561.202.03
PB Ratio1.102.211.810.340.700.91
P/FCF Ratio2.946.338.57
P/OCF Ratio2.885.968.08
Debt / Equity Ratio0.190.198.154.581.981.84
Debt / FCF Ratio13.2217.7917.34
Net Debt / Equity Ratio-1.13-1.78-26.473.391.331.14
Net Debt / FCF Ratio5.4311.77-42.96-13.5311.9510.67
Return on Equity (ROE)-8.44%-25.69%-163.96%-8.04%9.71%7.80%
Return on Assets (ROA)-0.58%-1.21%-3.79%-0.39%0.62%0.56%
Earnings Yield-6.98%-6.07%-517.04%-27.52%14.69%8.30%
FCF Yield-16.99%-6.85%34.07%-73.26%15.79%11.67%
Buyback Yield / Dilution-351.29%-1,831.79%-0.27%-0.06%-0.26%-0.45%
Total Shareholder Return-351.29%-1,831.79%-0.27%-0.06%-0.26%-0.45%