secwatch.observer — SEC 8-K summary
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Issuer:     PATRIOT NATIONAL BANCORP INC (PNBK)
CIK:        0001098146
Form:       8-K
Filed at:   2023-05-15T23:59:59+00:00
Accession:  0001171843-23-003297
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Patriot posts Q1 net loss of $53K, EPS $(0.01); provision for credit losses $1.3M
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- Net loss $53K ($0.01 per share) vs Q1 2022 net income $800K ($0.20 EPS).
- Provision for credit losses $1.3M in Q1 2023 vs zero in Q1 2022.
- Net interest margin 3.29%, down 48bps from Q4 2022, up 23bps YoY.
- Loans grew 3.6% to $878.8M; deposits stable at $856.5M from Dec 2022.
- CECL adoption increased allowance by $7.4M, cumulative deficit adjustment $6.2M net.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1098146/000117184323003297/0001171843-23-003297-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1098146/000117184323003297/f8k_051323.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-003297

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer