Patriot National Bancorp Q2 net income $1.3M, EPS $0.32; loans up 16.2%

PATRIOT NATIONAL BANCORP INC

2022-Q2 EPS reported $0.52

Net income $1.3M ($0.32 EPS) vs $1.0M ($0.26 EPS) in Q2 2021; 6-month net income $2.1M.
Loans grew 16.2% to $849.2M and deposits 13.1% to $846.8M vs Dec 31, 2021.
Net interest margin improved to 3.17% (H1 2022) from 2.90% (H1 2021); prepaid card program tripled to $166.7M.
Merger with American Challenger Development terminated; parties in active discussions for modified transaction.

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