secwatch.observer — SEC 8-K summary
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Issuer:     PATRIOT NATIONAL BANCORP INC (PNBK)
CIK:        0001098146
Form:       8-K
Filed at:   2023-08-14T23:59:59+00:00
Accession:  0001171843-23-005275
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Patriot National Bancorp Q2 net loss $546K vs $1.3M profit a year ago
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- Net loss of $546K ($0.14 diluted loss per share) in Q2 2023 vs net income of $1.3M ($0.32 EPS) in Q2 2022.
- Provision for credit losses of $1.2M in Q2 and $2.6M in H1 2023, up from $275K in prior year period.
- Total loans grew to $930.7M (6% increase from prior quarter); total assets reached $1.2B as of June 30, 2023.
- Net interest margin fell to 2.96% in Q2 2023 from 3.29% in Q1 2023 and 3.27% in Q2 2022.
- CEO cites investments in Digital Payments Division; near-term focus on credit quality and expense management.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1098146/000117184323005275/0001171843-23-005275-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1098146/000117184323005275/f8k_081123.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-005275

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