PATRIOT NATIONAL BANCORP INC PNBK Income Statement

Patriot national bancorp inc (PNBK)

Income statement / TTM

Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest and Dividend Income
Interest and fees on loans
40,568	40,418	39,586	38,513	37,546	35,938	35,047	33,437	31,270	29,300	26,966	25,158	24,391	23,341	23,032	23,173	22,879	22,800	21,713	20,456	19,601	19,188	19,823	20,201	20,706	21,139	21,245	22,012	23,482	24,288	24,939	25,666	25,957	27,657	30,410	0	0	0
Interest on investment securities
-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	173	193	0	0	0
Interest on investment securities
-	-	1,532	1,425	-	-	1,126	1,077	-	819	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	512	499	-	480	495	509	528	551	569	662	775	830	1,078	1,278	1,508	1,864	2,133	2,193	1,990	1,794	1,507	0	0	0
Dividends on investment securities
453	460	473	487	490	477	457	422	383	369	352	349	353	349	346	316	287	252	206	188	172	148	138	125	113	117	120	123	128	130	154	203	240	273	283	0	0	0
Interest on federal funds sold
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6	11	15	0	0	0
Other interest income
956	1,059	1,176	1,209	1,033	829	552	301	214	174	134	143	120	120	125	114	102	101	87	84	67	55	49	44	60	68	0	0	-	0	-	-	-	-	-	-	-	-
Total interest and dividend income
43,644	43,535	42,767	41,634	40,375	38,459	37,182	35,237	32,849	30,670	28,135	26,223	25,408	24,338	24,015	24,102	23,741	23,633	22,501	21,237	20,368	19,942	20,579	21,032	21,654	22,159	22,528	23,530	25,216	26,371	27,295	28,152	28,332	29,910	32,409	0	0	0
Interest Expense
Interest on deposits
13,985	13,365	12,167	10,631	9,024	7,602	6,484	5,616	4,948	4,181	3,391	2,758	2,242	1,994	1,943	1,960	2,016	2,081	2,162	2,256	2,364	2,591	2,905	3,330	3,822	4,227	4,573	4,963	5,351	5,657	5,802	5,935	6,283	7,568	9,132	0	0	0
Interest on Federal Home Loan Bank borrowings
-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on Federal Home Loan Bank borrowings
-	-	1,740	1,816	-	-	1,200	881	-	622	447	328	371	380	397	418	368	320	271	219	181	136	214	348	666	995	1,230	0	-	0	0	-	-	-	-	-	-	-
Interest on senior debt
915	915	915	915	915	915	915	915	915	711	482	254	25	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on subordinated debt
1,118	1,123	1,124	957	767	583	397	374	360	350	343	337	334	326	315	305	294	290	287	296	425	424	424	413	284	288	0	0	-	0	-	-	-	-	-	-	-	-
Interest on note payable and other
25	35	35	37	38	30	31	29	31	35	37	37	36	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on other borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on Federal Home Loan Bank borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	1,698	1,694	0	0	0
Interest on subordinated debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	288	289	0	0	0
Interest on other borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	159	237	308	309	309	309	309	308	308	307	0	0	0
Total interest expense
18,218	17,294	15,981	14,356	12,378	10,568	9,027	7,815	6,956	5,899	4,700	3,714	3,008	2,734	2,683	2,703	2,690	2,694	2,720	2,771	2,970	3,151	3,543	4,097	4,854	5,699	6,367	7,018	7,419	7,698	7,908	8,106	8,510	9,864	11,423	0	0	0
Net interest income
25,426	26,241	26,786	27,278	27,997	27,891	28,155	27,422	25,893	24,771	23,435	22,509	22,400	21,604	21,332	21,399	21,051	20,939	19,781	18,466	17,398	16,791	17,036	16,935	16,800	16,460	16,161	16,511	17,797	18,673	19,387	20,045	19,821	20,045	20,986	0	0	0
Provision (Credit) for Loan Losses
4,971	4,220	4,170	1,283	1,303	372	867	1,077	-857	-794	-984	715	2,464	2,314	1,959	0	250	0	0	0	-	-	-	1,000	970	1,149	149	-1,563	-2,379	-3,558	-3,558	-362	7,464	13,489	14,001	0	0	0
Net interest income after provision for loan losses
20,455	22,021	22,616	25,995	26,694	27,519	27,288	26,345	26,750	25,565	24,419	21,794	19,936	19,290	19,373	21,399	20,801	20,689	19,531	18,216	17,398	16,791	16,036	15,935	15,830	15,310	16,011	18,075	20,176	22,231	22,945	20,408	12,357	6,555	6,984	0	0	0
Non-interest Income
Mortgage banking activity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Mortgage banking activity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	99	78	57	58	50	63	0	0	0
Loan application, inspection and processing fees
113	89	73	57	51	48	57	60	73	89	128	134	180	166	118	202	185	215	299	0	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Deposit fees and service charges
492	498	501	517	524	538	561	575	590	593	594	598	600	594	592	589	612	719	804	0	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Gains on sales of loans
891	1,014	892	0	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-
Net gain on sale of investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	911	1,695	0	0	-	0	-	-	-	-
Gains on sale of loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	0	0	0	-	-	-	-	-	-
Gain on sale of branch assets and deposits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-
Loan application, inspection & processing fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	76	68	76	78	83	102	0	0	0
Fees and service charges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	899	891	912	964	1,059	1,126	0	0	0
Earnings on cash surrender value of bank owned life insurance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	439	478	491	517	523	530	523	501	517	529	577	610	636	652	620	0	0	0
Rental income
589	590	568	459	413	379	381	389	399	405	392	405	414	341	344	417	402	460	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on sale of investment securities
-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income
398	506	509	476	477	378	379	383	378	372	371	364	362	430	427	359	352	-352	-354	-202	-97	715	731	658	576	432	428	397	388	353	341	476	484	506	497	0	0	0
Total non-interest income
2,483	2,787	2,570	2,127	1,627	1,494	1,526	1,489	1,444	1,381	1,407	1,423	1,556	1,531	1,481	1,567	1,551	1,236	1,461	1,633	1,832	2,413	2,386	2,532	2,426	2,428	3,324	3,011	3,274	3,498	3,323	3,578	3,411	3,211	2,490	0	0	0
Non-interest Expense
Salaries and benefits
13,681	13,596	12,910	12,156	11,741	11,664	11,611	11,254	10,915	9,823	9,251	9,369	9,489	9,597	9,673	9,453	9,247	9,044	8,889	8,470	8,097	7,999	8,067	8,668	9,702	10,096	10,558	10,707	10,593	11,387	11,607	12,071	12,395	12,436	12,787	0	0	0
Occupancy and equipment expense
3,521	3,411	3,303	3,335	3,159	3,101	3,068	3,099	3,133	3,175	3,162	3,105	3,110	3,097	3,128	3,287	3,462	3,607	3,633	3,589	3,556	3,582	3,723	3,794	3,911	3,988	4,135	4,334	4,419	4,632	4,543	4,700	4,931	5,056	5,315	0	0	0
Data processing expense
1,463	1,429	1,405	1,366	1,313	1,325	1,332	1,336	1,139	911	859	774	939	1,237	1,247	1,261	1,226	1,077	1,091	1,115	1,115	1,111	1,165	1,175	1,296	1,424	1,437	1,493	1,469	1,376	1,314	1,304	1,286	1,349	1,325	0	0	0
Professional and other outside services
3,010	2,878	2,722	2,376	2,177	2,032	1,877	1,970	2,050	2,177	2,176	1,990	1,747	1,556	1,469	1,496	1,656	2,244	2,344	2,410	2,312	1,787	2,105	2,418	2,836	3,020	2,790	2,874	2,601	2,723	2,759	3,140	3,406	3,228	3,385	0	0	0
Project expenses
-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Merger and tax initiative project expenses, net
-	-	1,048	1,655	-	-	1,755	1,163	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advertising and promotional expense
380	319	313	295	258	250	274	326	322	319	366	351	394	416	617	658	591	583	315	251	252	244	223	226	217	202	178	110	86	93	169	433	573	582	562	0	0	0
Loan administration and processing expense
155	126	107	94	93	86	83	67	63	69	61	55	54	43	37	36	50	37	58	70	65	93	105	160	220	240	234	205	137	186	239	242	271	215	197	0	0	0
Regulatory assessments
1,233	1,179	1,302	1,205	1,142	1,097	1,052	917	844	722	651	635	603	605	586	596	603	684	781	0	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Insurance expense, net
136	198	77	76	90	118	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Insurance expense
-	-	-	-	-	-	-	-	-	-	226	226	-	229	251	278	304	331	330	0	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Regulatory assessments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	1,632	1,625	1,791	1,992	2,361	2,619	0	0	0
Insurance expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	569	688	807	869	880	782	0	0	0
Other real estate operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-133	-167	-226	-212	-144	-132	-94	58	0	0	0	-	-	-	-	-	-
Other real estate operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0
Communications, stationary and supplies
518	517	545	524	503	463	414	407	381	375	384	396	402	459	448	439	427	384	386	364	376	369	366	384	397	436	448	478	504	527	584	615	684	723	760	0	0	0
Restructuring charges and asset disposals (Note 19)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	940	3,489	0	0	-	-	0	-	-	-
Prepayment penalty on borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Other operating expense
2,092	2,093	1,989	1,872	1,661	1,550	1,524	1,501	1,452	1,499	1,427	1,384	1,395	1,310	1,405	1,380	1,285	1,652	1,481	1,330	1,270	622	586	761	981	1,219	1,303	1,205	1,100	998	953	999	953	1,166	1,090	0	0	0
Total non-interest expense
26,654	26,353	25,721	24,954	24,235	24,041	23,216	22,269	21,172	19,344	18,563	18,285	18,355	18,549	18,861	18,884	18,851	19,575	19,246	18,719	18,271	17,279	19,316	23,798	25,884	27,443	26,653	24,145	23,986	24,378	24,680	29,918	31,228	32,460	33,824	0	0	0
(Loss) Income before income taxes
-3,716	-1,545	-535	3,168	4,086	4,972	5,598	5,565	7,022	7,602	7,263	4,932	3,137	2,272	1,993	4,082	3,501	2,350	1,746	1,130	959	1,925	-894	-5,331	-7,628	-9,704	-7,316	-3,059	-536	1,351	1,589	-5,931	-15,459	-22,693	-24,348	0	0	0
(Benefit) Provision for Income Taxes
-899	-566	-298	714	890	1,502	1,884	2,083	2,875	3,010	2,870	1,925	1,207	855	757	1,575	1,358	-15,739	-16,159	0	-	0	0	-	-339	0	0	0	-	-	-	-	0	0	0	0	-	-
Net (loss) income
-2,817	-979	-237	2,454	3,196	3,470	3,714	3,482	4,147	4,592	4,393	3,007	1,930	1,416	1,235	2,507	2,143	-784	15,843	15,679	15,709	19,055	-576	-5,013	-7,289	-9,683	-7,295	-3,038	-536	1,351	1,589	-5,931	-15,459	-22,693	-24,348	0	0	0
Basic (loss) earnings per share (in dollars per share)
-0.39	0.01	-0.42	0.08	0.08	0.20	0.27	0.27	0.15	0.26	0.21	0.44	0.26	0.21	-0.15	0.17	-	0.16	-	0.07	-	4.48	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted (loss) earnings per share (in dollars per share)
-0.39	0.01	-0.42	0.08	0.09	0.20	0.26	0.27	0.15	0.26	0.21	0.44	0.27	0.21	-0.15	0.16	-	0.16	-	0.07	-	4.45	0.14	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic and diluted income (loss) per share (1) (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.18	-	-	-	-	0.01	-	-0.06	-0.10	-0.05	-0.16	0.00	0.01	0.01	0.01	0.01	-0.19	-0.23	-1.43	-0.29