Patriot national bancorp inc (PNBK)
Balance Sheet / Quarterly
Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Dec'10
Cash and due from banks:
Noninterest bearing deposits and cash

2,693

3,157

5,578

6,661

7,381

5,596

4,589

3,865

3,582

3,337

3,210

5,087

2,596

2,893

2,893

2,931

2,588

2,429

2,892

2,080

2,095

1,530

1,584

1,503

1,570

1,551

3,866

3,338

2,736

3,320

3,720

4,052

4,241

9,497

6,242

4,613

Interest bearing deposits

36,711

46,844

45,538

49,971

59,056

43,636

81,052

58,127

45,147

25,075

7,633

55,179

89,693

43,594

43,594

64,075

82,812

56,909

50,201

63,878

71,163

56,060

58,345

58,254

33,296

21,784

20,509

57,714

67,567

40,510

58,456

99,211

50,474

30,484

52,759

131,711

Federal funds sold

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

5,000

10,000

Short-term investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

711

711

710

710

710

709

709

3,206

547

453

Total cash and cash equivalents

39,404

50,001

51,116

56,632

66,437

49,232

85,641

61,992

48,729

28,412

10,843

60,266

92,289

46,487

46,487

67,006

85,400

59,338

53,093

65,958

73,258

57,590

59,929

59,757

34,866

23,336

25,086

61,763

71,014

44,541

62,887

103,974

55,425

43,188

64,548

146,777

Investment securities:
Available-for-sale securities, at fair value

48,317

50,057

43,839

40,275

39,496

40,264

23,982

24,793

25,576

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Available-for-sale securities

-

-

-

-

-

-

-

-

-

29,586

24,981

21,201

24,428

23,037

23,037

28,735

29,377

30,719

31,640

32,738

33,682

34,571

35,686

36,815

37,701

38,296

39,543

41,105

41,719

18,314

56,342

58,591

66,469

88,529

88,926

40,564

Other investments, at cost

4,450

4,963

4,963

4,963

4,963

4,450

4,450

4,450

4,962

4,450

4,450

4,450

4,450

4,450

4,450

4,450

4,450

4,450

4,450

4,450

4,450

4,450

4,450

4,450

4,450

3,500

3,500

3,500

3,500

3,500

3,500

3,500

3,500

3,500

3,500

3,500

Total investment securities

52,767

55,020

-

-

44,459

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted stock, at cost

-

-

-

-

-

-

-

-

-

-

-

-

-

7,982

7,982

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total investment securities

-

-

48,802

45,238

-

44,714

28,432

29,243

30,538

34,036

29,431

25,651

28,878

35,469

35,469

41,854

33,827

43,845

44,738

45,836

46,818

46,990

45,796

46,852

47,738

47,457

48,819

50,441

51,293

27,902

65,905

68,127

76,185

98,244

98,845

49,765

Federal Reserve Bank stock, at cost

2,897

2,889

2,922

2,892

2,866

2,833

2,564

2,526

2,502

2,460

2,424

2,358

2,109

-

-

2,099

2,075

2,048

2,020

2,020

2,058

1,541

1,517

1,444

1,444

1,518

1,634

1,693

1,730

1,744

1,719

1,692

1,707

1,707

1,910

1,192

Federal Home Loan Bank stock, at cost

4,477

4,477

4,513

4,513

4,928

4,928

5,807

5,889

5,889

6,353

5,833

5,489

5,609

-

-

6,570

6,570

6,628

6,628

6,628

6,628

6,428

4,143

4,143

4,143

4,142

4,142

4,142

4,343

4,343

4,343

4,343

4,508

4,508

4,508

4,508

Loans receivable (net of allowance for loan losses: 2019: $10,115, 2018: $7,609)

802,049

791,909

803,319

780,713

772,767

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

SBA loans held for sale

15,282

4,103

4,283

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loans receivable (net of allowance for loan and lease losses: 2018: $7,609, 2017: $6,297)

-

-

-

-

-

756,649

750,804

718,070

713,350

703,896

673,144

625,030

576,982

521,445

523,404

479,936

479,127

491,074

488,705

494,166

471,984

458,893

402,786

415,123

418,148

429,856

447,813

455,941

458,793

493,109

483,858

466,265

501,227

453,133

451,981

534,531

Loans held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

372

11,551

6,551

1,527

1,950

0

0

250

250

-

0

Accrued interest and dividends receivable

3,603

3,538

3,678

3,621

3,766

3,612

3,306

3,505

3,496

3,501

3,208

3,063

2,726

2,120

2,120

2,075

2,010

2,107

2,034

1,974

1,918

1,649

1,555

1,578

1,566

1,551

1,710

1,886

1,894

1,978

2,289

2,242

2,453

2,320

2,329

2,512

Premises and equipment, net

34,568

34,883

35,249

35,335

35,435

35,487

35,715

35,638

35,358

34,713

34,471

33,442

32,759

29,972

29,972

29,790

29,421

29,193

24,703

23,056

22,357

18,651

18,227

14,866

15,061

6,085

6,420

4,246

4,288

4,655

4,712

4,882

4,108

4,180

4,234

5,270

Other real estate owned

2,400

2,400

-

-

2,945

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax asset, net

11,133

-

-

-

10,851

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other real estate owned

-

-

1,954

2,945

-

991

991

-

0

851

851

851

851

851

851

-

0

-

-

-

-

-

-

264

-

3,845

3,845

3,764

4,873

1,252

1,517

1,461

2,762

4,731

3,611

16,408

Cash surrender value of bank owned life insurance (Note 11)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

22,378

22,262

22,146

22,025

21,899

21,770

21,628

21,501

21,369

21,247

21,127

20,984

20,839

20,669

20,348

Deferred tax asset, net

-

11,495

11,132

10,357

-

10,907

11,085

11,335

10,397

10,686

11,212

11,691

12,632

13,836

13,073

13,354

13,763

13,905

14,221

14,621

14,926

16,812

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Goodwill

1,107

1,107

1,107

1,107

1,728

1,944

2,100

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Core deposit intangible, net

623

642

661

680

698

717

534

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Receivable for securities sold, not settled

-

-

-

-

-

-

-

-

-

-

-

4,968

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets

9,526

9,521

9,031

9,075

4,816

3,272

3,256

2,219

1,821

1,823

2,003

1,952

1,819

1,679

1,679

1,740

1,162

1,263

1,407

1,495

1,363

1,292

1,498

1,902

1,844

1,452

1,785

2,538

2,580

18,588

1,848

3,046

2,419

1,537

1,986

8,711

Other branch related assets held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

80

88

-

-

-

-

-

-

-

Total assets

979,836

971,985

977,767

953,108

951,696

915,286

930,235

870,417

852,080

826,731

773,420

774,761

756,654

651,859

653,055

635,755

653,355

640,725

628,901

647,106

632,624

624,255

552,053

562,488

541,248

535,856

568,803

608,842

617,855

615,348

644,267

671,127

665,816

628,426

648,205

784,324

Deposits:
Noninterest bearing deposits

88,135

80,772

84,295

82,248

84,471

81,687

83,808

71,736

81,197

76,875

77,778

78,372

76,772

75,244

75,244

79,483

85,797

75,011

79,774

70,331

63,398

62,657

61,685

57,967

55,358

58,109

63,869

57,081

61,459

59,309

71,722

59,049

65,613

56,699

61,585

51,058

Interest bearing deposits

681,400

681,284

683,271

670,573

658,810

637,845

628,504

583,562

556,242

528,539

484,261

482,587

452,552

371,092

371,092

346,154

358,868

371,429

377,681

386,776

379,635

358,458

364,747

370,002

374,846

383,013

413,773

413,676

411,117

424,643

450,373

480,540

479,296

451,023

462,919

595,750

Deposits held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

20,928

24,705

-

-

-

-

-

-

-

Total deposits

769,535

762,056

767,566

752,821

743,281

719,532

712,312

655,298

637,439

605,414

562,039

560,959

529,324

446,336

446,336

425,637

444,665

446,440

457,455

457,107

443,033

421,115

426,432

427,969

430,204

-

-

491,686

497,282

483,953

522,095

539,590

544,909

507,723

524,504

646,808

Total deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

441,122

477,642

-

-

-

-

-

-

-

-

-

Repurchase agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,000

7,000

7,000

7,000

7,000

7,000

7,000

7,000

7,000

Federal Home Loan Bank and correspondent bank borrowings

100,000

100,000

100,000

90,000

100,000

90,000

110,000

120,000

120,000

130,000

120,000

124,000

138,000

128,000

128,000

134,900

132,000

120,000

100,000

120,000

120,000

132,000

72,000

80,000

57,000

42,000

35,000

50,000

50,000

60,000

50,000

60,000

50,000

50,000

50,000

50,000

Senior notes, net

11,853

11,834

11,815

11,796

11,778

11,759

11,740

11,722

11,703

11,684

11,666

11,647

11,628

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Subordinated debt, net

9,752

9,745

9,738

9,731

9,723

9,720

9,576

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

42,000

35,000

-

57,000

-

-

-

-

-

-

-

Total borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

57,000

-

67,000

57,000

67,000

57,000

57,000

57,000

57,000

Junior subordinated debt owed to unconsolidated trust, net

8,102

8,100

8,098

8,096

8,094

8,092

8,090

8,088

8,086

8,085

8,082

8,080

8,079

8,248

8,248

8,248

8,072

8,248

8,248

8,248

8,248

8,248

8,248

8,248

8,248

8,248

8,248

8,248

8,248

8,248

8,248

8,248

8,248

8,248

8,248

8,248

Note payable

1,193

1,242

-

-

1,388

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Note payable

-

-

1,291

1,339

-

1,436

1,484

1,532

1,580

1,627

1,675

1,722

1,769

1,846

1,846

1,893

1,954

1,985

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Advances from borrowers for taxes and insurance

3,681

2,182

3,239

1,922

2,926

1,659

2,876

1,904

2,829

1,799

3,111

1,755

2,676

2,451

2,451

-

2,367

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued expenses and other liabilities

8,726

8,647

7,730

7,754

5,166

4,167

5,796

4,268

3,694

1,812

1,547

2,157

2,608

3,064

3,064

2,771

2,833

3,156

3,121

2,450

2,608

2,191

2,057

3,659

3,955

3,925

4,773

4,234

5,756

5,014

5,164

5,052

5,109

4,785

7,188

5,095

Total liabilities

912,842

903,806

909,477

883,459

882,356

846,365

861,874

802,812

785,331

760,421

708,120

710,320

694,084

589,945

589,945

573,449

591,891

579,829

568,824

587,805

573,889

563,554

508,737

519,876

499,407

495,295

525,664

561,169

568,287

564,215

592,508

619,890

615,266

577,756

596,940

717,152

Commitments and Contingencies

-

-

-

-

-

0

0

0

-

0

0

0

0

-

-

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Shareholders' equity
Preferred stock, no par value; 1,000,000 shares authorized, no shares issued and outstanding

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Common stock, $.01 par value, 100,000,000 shares authorized; As of December 31, 2019: 4,004,410 shares issued; 3,930,669 shares outstanding As of December 31, 2018: 3,984,415 shares issued; 3,910,674 shares outstanding

106,170

106,118

40

40

105,956

40

40

40

40

40

40

40

40

40

40

40

40

396

396

396

39

392

392

391

388

386

384

384

384

384

384

384

383

383

383

383

Additional paid-in capital

-

-

107,198

107,143

-

107,038

106,982

106,928

106,875

106,834

106,797

106,772

106,729

106,876

106,876

106,722

106,568

106,091

105,979

105,865

106,108

105,683

105,610

105,540

105,484

105,424

105,371

105,363

105,355

105,285

105,182

105,129

105,050

105,050

105,050

105,050

Accumulated deficit

-38,773

-37,222

-37,210

-35,517

-35,790

-36,078

-36,808

-37,805

-38,832

-39,394

-40,368

-41,172

-42,902

-44,761

-43,565

-44,179

-44,832

-45,364

-45,997

-46,686

-46,975

-44,579

-61,840

-62,365

-62,684

-63,633

-61,263

-57,351

-55,394

-53,949

-53,968

-54,313

-54,858

-55,301

-55,557

-39,399

Treasury stock, at cost: As of June 30, 2019 and December 31, 2018, 73,741 and 73,741 shares, respectively

-

-

1,179

1,179

-

1,179

1,179

1,179

1,179

1,179

1,177

1,177

1,177

160

160

160

160

160

160

160

160

160

160

160

160

160

160

160

160

160

160

160

160

160

160

160

Accumulated other comprehensive loss

-403

-717

-559

-838

-826

-900

-674

-379

-155

9

8

-22

-120

-81

-81

-117

-152

-67

-141

-114

-277

-635

-686

-794

-1,187

-1,456

-1,192

-562

-617

-427

319

196

134

697

1,548

1,297

Total shareholders' equity

66,994

68,179

68,290

69,649

69,340

68,921

68,361

67,605

66,749

66,310

65,300

64,441

62,570

61,914

63,110

62,306

61,464

60,896

60,077

59,301

58,735

60,701

43,316

42,612

41,841

40,561

43,139

47,673

49,567

51,132

51,758

51,237

50,549

50,669

51,264

67,172

Total liabilities and shareholders' equity

979,836

971,985

977,767

953,108

951,696

915,286

930,235

870,417

852,080

826,731

773,420

774,761

756,654

651,859

653,055

635,755

653,355

640,725

628,901

647,106

632,624

624,255

552,053

562,488

541,248

535,856

568,803

608,842

617,855

615,348

644,267

671,127

665,816

628,426

648,205

784,324