Patriot National Bancorp (PNBK) investor relations material

Executive summary

• Net loss of $1.8 million ($0.02 per share) for Q1 2026, improved from $2.8 million loss ($0.21 per share) in Q1 2025, driven by higher net interest income, increased non-interest income, and a reversal of provision for credit losses, partially offset by higher non-interest expenses.

• Total assets rose to $1.18 billion from $1.09 billion at year-end, primarily due to growth in loans receivable and investment securities.

• The company remains under an OCC Agreement, influencing capital, compliance, and operational priorities.

Financial highlights

• Net interest income increased to $7.1 million from $4.0 million year-over-year, reflecting higher yields and lower deposit costs.

• Net interest margin expanded to 2.46% from 1.64% year-over-year.

• Non-interest income rose to $3.2 million, mainly from digital payments fees.

• Non-interest expense increased to $12.2 million, driven by higher salaries, professional services, and regulatory costs.

• Allowance for credit losses (ACL) was $7.8 million (1.02% of gross loans), up from $6.8 million at year-end, reflecting new loan purchases and improved credit performance.

• Non-accrual loans decreased to $22.9 million from $24.4 million at year-end.

Outlook and guidance

• Management continues to focus on balance sheet optimization, capital and liquidity management, and risk mitigation in response to regulatory expectations and market conditions.

• Liquidity and capital positions are considered sufficient to meet expected funding needs and deposit fluctuations.