Quarterly ResultMay 15, 2026, 05:12 PM
Patriot National Bancorp Q1 Net Loss $(1.76)M; EPS $(0.02)
AI Summary
Patriot National Bancorp reported a net loss of $(1.76) million, or $(0.02) per basic share, for the first quarter of 2026, significantly reducing its loss compared to $(2.78) million, or $(0.21) per basic share, in the prior year. The company saw a substantial 79.0% increase in net interest income to $7.08 million and a 19.0% rise in non-interest income. Total assets grew 8.2% to $1.18 billion, with loans receivable, net, increasing 28.3% to $751.21 million, and total deposits rising 8.6% to $1.05 billion. The company also adopted ASU 2025-08, recording an initial allowance for credit losses of $925 thousand for purchased loans, and continued its new lending programs re-started in Q3 2025.
Key Highlights
- Net loss for Q1 2026 was $(1.76) million, a 36.8% reduction from $(2.78) million in Q1 2025.
- Basic loss per share improved to $(0.02) in Q1 2026 from $(0.21) in Q1 2025.
- Net interest income increased by 79.0% to $7.08 million in Q1 2026 from $3.95 million in Q1 2025.
- Total assets grew 8.2% to $1.18 billion at March 31, 2026, from $1.09 billion at December 31, 2025.
- Loans receivable, net, increased 28.3% to $751.21 million at March 31, 2026, from $585.72 million at December 31, 2025.
- Total deposits rose 8.6% to $1.05 billion at March 31, 2026, from $965.79 million at December 31, 2025.
- Non-interest income increased 19.0% to $3.25 million in Q1 2026, driven by a 58.6% rise in Digital Payments income to $2.79 million.
- Adopted ASU 2025-08, recording an initial allowance for credit losses of $925 thousand for purchased loans.
Price Impact
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