secwatch.observer — SEC 8-K summary
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Issuer:     PATRIOT NATIONAL BANCORP INC (PNBK)
CIK:        0001098146
Form:       8-K
Filed at:   2022-11-10T23:59:59+00:00
Accession:  0001437749-22-026978
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1098146/000143774922026978/0001437749-22-026978-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1098146/000143774922026978/pnbk20221109_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-026978

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