Patriot National Bancorp reports Q4 2022 net income $1.8M, full year $6.2M

PATRIOT NATIONAL BANCORP INC

Q4 net income $1.8M ($0.45 EPS); full year $6.2M ($1.56 EPS) vs $5.1M in 2021.
Net interest margin improved to 3.77% in Q4 and 3.46% annually from 3.05% and 2.92%.
Loan growth 14.7% and deposit growth 14.9% YoY; total assets reached $1.0B.
Non-GAAP tangible book value per share $18.63, up from $17.08 in 2021.
Completed refinancing of $12.0M senior debt facility in December 2022.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

PATRIOT NATIONAL BANCORP INC reported the quarter and the year ended December 31, 2022 results: net income net income of $1.8 million, or $0.45 basic and diluted earnings per share for the quarter ended December 31, 2022.

Period: the quarter and the year ended December 31, 2022
Net income: net income of $1.8 million, or $0.45 basic and diluted earnings per share for the quarter ended December 31, 2022
Result: reported results

Exact text from the filing

Patriot National Bancorp, Inc. (the “Company”) issued a press release, a copy of which is attached hereto as Exhibit 99.1, regarding its earnings for the quarter and the year ended December 31, 2022.

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Source: SEC EDGAR

accession 0001171843-23-001469

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