Patriot National Bancorp Q3 net income $2.3M ($0.59 EPS); hires Tom Slater as Chief Credit Officer

PATRIOT NATIONAL BANCORP INC

2022-Q3 EPS reported $1.11

Net income of $2.3 million, $0.59 per share, vs $1.3 million ($0.34) in Q3 2021; nine-month net income $4.4 million ($1.11).
Total assets reached $1.1 billion with loan growth of 16.7% and deposit growth of 11.5% since Dec 31, 2021.
Net interest margin expanded to 3.68% in Q3 2022 from 2.82% in Q3 2021; prepaid debit card program tripled to $169.1M.
Thomas E. Slater appointed EVP and Chief Credit Officer; brings 25+ years commercial banking experience from Investors Bank and TD Bank.
Book value per share declined to $14.66 from $17.02 due to market value drop in held-for-sale investment portfolio.

item 5.02 item 7.01 item 9.01

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Appointed

Thomas E. Slater

Executive Vice President and Chief Credit Officer

PNBK · PATRIOT NATIONAL BANCORP INC

Effective: 2022-11-04
Filed: November 10, 2022, 6:59 PM ET

On November 4, 2022, Thomas E. Slater accepted the appointment to serve as Executive Vice President and Chief Credit Officer of Patriot Bank, N.A.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Thomas E. Slater was appointed as Executive Vice President and Chief Credit Officer at PATRIOT NATIONAL BANCORP INC.

Action: appointed
Role: Executive Vice President and Chief Credit Officer

Exact text from the filing

On November 4, 2022, Thomas E. Slater accepted the appointment to serve as Executive Vice President and Chief Credit Officer of Patriot Bank, N.A.

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Source: SEC EDGAR

accession 0001437749-22-026978

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